Dan Welyk Realtor®  Since 1999

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As expected, January showed to be a strong start to the Real Estate market for 2013.  In comparison to last month the market had over 1000 new single family home listings enter the market over December taking a little presure off of our inventory crunch.

 

The total number of active listings increased by 10.6% over the month despite there being 16% more sales in the month.  

 

Compared to the same period last year - the media hype is discussing the 15.17% increase in sales and average price up 12.34%.  Definitely a strong increase - curious to see if this maintains itself over the next quarter. 

Calgary House Price Change Comparison January 2013

Calgary Price Change Comparison for January 2013

So, the question everyone wants to know is "Are we heading into the crazy boom we had in 2006/07"?  No, in my opinion there are missing factors to match that same scenario.  

 

  • Number of people migrating to Calgary - these numbers are down significantly.
  • Builder inventory is very high - in 2006/07 their inventory levels were almost zero.
  • Inner City new development for "infills" is saturated 

I do see a solid growth, but with percentages in low to mid single digits - that's my opinion based on buyer trends in January.

 

Here is the January Real Estate Market Snapshot 

Market Snapshot

Single Family

Condo/Apartment

Condo/Townhouse

Monthly

Jan/12

Jan/13

%Chg

Jan/12

Jan/13

%Chg

Jan/12

Jan/13

%Chg

Total Sales

763

879

15.20

179

204

13.97

126

147

16.67

New Listings

1714

1737

1.34

504

450

-10.71

312

306

-1.92

Average Price

440,478

496,579

12.74

247,837

280,273

13.09

297,918

320,590

4.85

Active Listings

2918

2075

-28.89

929

640

-31.11

520

369

-29.04

Days on Market

59

47

-19.99

64

62

-2.55

61

52

-14.94

 

MLS HPI

January 2013

% of Changes

 

 

Benchmark $

HPI

Dec/12

Jul/12

Jan/12

Jan/10

Jan/08

Single Family

423,500

184

0.5

0.9

8.6

7.5

1.9

Condo/TH

282,000

177

-0.2

2.2

4.8

1.7

-8.7

Condo/Apt

250,400

175

1.1

1.5

7.3

2.6

-9.8

 

For a complete view of the January 2013 market - download it here.

 

Where does your home fit in todays market?  Find out with an online home evaluation!

 

About the Author

Dan Welyk

Dan Welyk has been a Licensed Real Estate Professional since 1999 and has grown up in the Real Estate Industry. FindNewDigs.com brings home buyer's and home owners together to find useful information, tools and ideas.

 

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Data supplied by CREB®’s MLS ® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.