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.
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.
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.