October 2013 Calgary Real Estate Market Report

Download CREB’s October 2013 Housing Report: (click here)

City of Calgary average home prices increased 5% y/y to $458,876 – the highest October price level recorded.  Sales were up 17.72% to 1,953 which is the second highest October tally.

“Price growth and tighter market conditions have encouraged some of the recent rise in new listings,” said Ann-Marie Lurie, chief economist. “This is a trend worth noting as the rise is easing some of the tightness in the market. Despite some movement, seller’s market conditions persist.”

While upward price pressure is expected to persist in the near term, she said, it is unlikely we will face the same spike seen in 2006. That’s because economic conditions are quite different today than they were in that time period

Single Family Homes
Year-over-Year Comparison, October 2012 in brackets

  • Sales:  +14.29  to 1,336 (1,169)
  • Average price: +4.76% to $516,244 ($492,772)
  • Active listings:  -12.88% to 2,705 (3,105)
  • New listings:  +7.68% to 1,739 (1,615)
  • Days on market:  -10.79% to 38  (43)
  • Inventory Absorption Rate:  2.0

Condominium – Apartments

  • Sales: +24.35% to 337 (271)
  • Average price: +6.76 to $309,415 ($289,820)
  • Active listings: -28.88% to 692 (973)
  • New listings:  +8.17% to 450 (416)
  • Days on market: -21.23% to 43 (55)
  • Inventory Absorption Rate: 2.0

Condominium – Townhomes

  • Sales:  +27.85% to 280  (219)
  • Average price: +13.49% to $365,037 ($321,644)
  • Active listings: -12.08% to 444 (505)
  • New listings: +18.51% to 333 (281)
  • Days on market: -13.21% to 44 (50)
  • Inventory Absorption Rate: 1.6

For more statistics and to browse homes for sale, please visit my website at:

FindCalgary

Questions? Ready to buy or sell real estate? Contact me at mike@findcalgary.com or 403-554-2284

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