Calgary, January 3, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales in 2011 increased eight per cent over last year, with 18,568 sales for 2011 compared to 17,267 in 2010.
Recovering from tepid sales activity in the first half of 2011, early improvements in employment and migration resulted in a pickup in housing demand in the second half of the year. By the end of June 2011, year-to-date sales activity had only increased by two per cent compared to the second half of the year, where residential sales improved by 15 per cent.

Calgary, December 1, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales in November increased eight per cent over last year, at 17,538 after the first 11 months of the year.

While sales activity tends to taper off in the winter months, so far this year Calgary area sales remain significantly stronger than levels recorded last year. Single family home sales totaled 962 for the month, an increase of eight per cent from November 2010. Meanwhile, year-to-date sales totaled 12,464, a 10 per cent increase over last year.

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October 3, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), residential sales continued to gain momentum in Calgary this year, totaling 14,832 after the first three quarters, a seven per cent per cent rise over last year.

“Despite recent turmoil in the global economy, Calgarians are showing confidence in the long term prospects for the city and are taking advantage of affordable and stable home prices,” says Bob Jablonski, president-elect of CREB®.Single family home sales totaled 1,036 for the month of September, 2011, an eight per cent increase over last September. Year-to-date sales totaled 10,518 units a 10 per cent increase over last year. Monthly gains in listings brings inventory to 4,753 units, a level still lower than the previous year.

“Clearly there is a market for well priced listings. In particular, we are seeing strength in detached single family home sales. Relative affordability in this market has meant these homes are selling faster than condominiums and townhouses,” says Jablonski.

“And single family homes are selling closer to asking price—suggesting that homes will move in this market, when priced right,” added Jablonski.

Average price for single family resale homes reached $468,051, a one per cent rise over last year. Condominium prices continue to remain one per cent lower than last year’s figures with an average price of $288,167 after the first eight months. The 2011 year to date median price of single family and condominium homes were a respective $410,000 and $263,000. “Calgary is one of the most affordable regions for homeownership in the country,”.

Sales for upper-end homes are above the pace set a year ago. As of Wednesday August 31, there were 948 single family sales over $700,000 recorded this year, compared to 779 reported for the same period in 2010.

Sales for condos priced below $200,000 also received a boost, pointing to a growing number of first-time homebuyers taking advantage of affordability and low mortgage rates. 834 condo sales below $200,000 this year compared with 596 for the same period in 2010

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Calgary HOUSING MARKET ON THE ROAD TO RECOVERy
Market improvements driven by clients looking for value

Calgary, August 2, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), residential sales continue to trend towards recovery. After the first seven months of the year, single family and condominium sales totaled 11,798, a 5 per cent increase over the previous year. While the improvements signal market recovery, overall sales levels remain 17 per cent below the 10-year average for this period.

“The recent rise in average days on market, especially in the single family sector, shows that while properly priced homes are selling quickly, over-priced listings remain on the market for a longer period of time. Improving market conditions may have signaled some sellers to be overly optimistic regarding pricing, resulting in a disconnect between seller and buyer expectations,” says Sano Stante, president of CREB®.

Single family sales for July 2011 were 1,153, with a total of 8,380 sales for the first seven months of 2011, an 8 per cent increase over the same period last year. Meanwhile, year-to-date listings continue to remain lower than last year, resulting in inventories trending lower than last year as well. Overall months of supply remain around four months within a balanced range.

“A good selection of housing inventory, combined with positive economic fundamentals, is encouraging buyers into the market,” says Stante. “Buyers are still quite value conscious, and in the current market are able to take advantage of the range of selection in a stable price environment.”

Condominium sales continued to bounce back this month. July 2011 condominium sales total 453, a 14 per cent rise over last year, while year-to-date sales remain 3 per cent lower than the same period in 2010.

“Excess supply and lower demand have negatively impacted the condominium market over the past year,” says Stante. “Nevertheless, the recent pickup in sales, combined with fewer new listings, has gradually reduced inventory levels of condominiums, lowering the month’s supply of inventory from over six months last year to just above four months in July 2011.”

The average price of single family homes in July 2011 was $455,849 and the median price $409,000, similar to levels recorded in July of last year. Condominium prices also remained at levels similar to the previous year.

“Interest rates will likely remain low for the remainder of the year. This factor, combined with relatively stable housing prices and wage growth, will help support affordability levels and promote a healthy housing market in Calgary.

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