January 1-7, 2014 Calgary Real Estate Market Update

Momentum from 2013 carried over into the new year as overall Calgary sales were up 22% y/y in the opening week.

The gain was entirely due to the single family home segment.  A total of 113 homes sold compared to 84 last year, a 34.5% hike. Condo-Apartment and Condo-Townhome sales mirrored  last year’s figures exactly with 26 and 21 units selling respectively.

Calgary Home Sales - January 1-7 2014

Calgary Home Sales – January 1-7 2014

Where are the sellers?  With expectations of continued rising prices, there isn’t any pressure for owners to list right away.  Overall new listings are off by -9.89% MTD and inventory is now nearly -17% below year ago levels.

Single family home inventory

Single family home inventory, 2008-2013 are month-end figures.

Luxury homebuyers aren’t wasting any time.  Eight properties sold for a $1M+ in the first week – the best start to a year ever.

Last January was one of only two months during the year that didn’t post a y/y increase in high-end sales.  The sales number to beat this month is 36, set back in 2007.

Calgary Luxury Home Sales -  January 1-7 2014

Calgary Luxury Home Sales – January 1-7 2014

Jan 1-7, stats summary

Jan 1-7, stats summary

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