January 1-14, 2014 Calgary Real Estate Market Update

I have good news and bad news for Calgary home buyers.  The good news is that there isn’t anything wrong with CREB®’s new listing auto-notifier or your email.  The bad news is that sellers haven’t been this sluggish in listing their homes at the start of year since 1998.

Month-to-date, new listings are down -10.63% y/y, bringing active listings -18.29% below year ago levels.

New listings are at the lowest level to begin a year in a decade and a half

New listings are at the lowest level to begin a year in a decade and a half

Overall sales are up 14.17% y/y, defying predictions from some bearish analysts that real estate demand was pulled forward in the later half of 2013.   It’s positive to note that sales are up across all 3 housing categories and that we’re on pace for the most January sales since 2008.

Sales, January 1-14 Y/Y Comparison

Sales, January 1-14 Y/Y comparison

Seven more properties sold for $1M+ in the second week of January, bringing the month-to-date total to 15.    The most expensive sale so far is this Elbow Park home that sold for $2,950,000.

Luxury sales, January Y/Y comparison

Luxury sales, January Y/Y comparison

Calgary statistics summary

Calgary statistics summary

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