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For the month of July 2013 We have seen strong sales growth in Calgary's Real Estate market.  

 

Residential Sales Volume

Calgary's residential real estate sales totaled 2268 units which represents a 17% increase from the same period in 2012 and up 6% so far this year.

 

According to CREB's chief economist Anne-Marie Lurie, the June 20th flood that devastated Calgary and surrounding areas likely contributed to the increased sales activity.

 

“Some of this activity is related to the displaced renters and owners seeking other accommodation,” said Lurie. “But those consumers already searching for a home may have sped up their purchase decision, in response to concerns regarding the impact tight supply levels would have on prices.” 


city of calgary july real estate sales


SF  - Single Family Homes                TH Sales - Total Home Sales

 

Residential Real Estate Prices

Calgary's resale market is now in sellers’ territory, which supports price growth.

Citywide prices are nearly 7% higher than in July 2012. Benchmark price for the city of Calgary totaled $414,100 in July 2013. 



“While the flooding will alter sales, listings and price trends in the affected areas, the impacts on the entire resale market will likely play out over the coming months,” said Lurie. “July sales growth has been stronger than year-to-date trends and long-term averages. However, if the level of new listings continues to rise, this could help ease tight market conditions.” - CREB's chief economist Anne-Marie Lurie

 

Calgary Residential real estate prices


Home Price Index

You can see in the graph below, the slow increase in the Home Price Index (HPI) over the past few years, a sign of a strong, healthy and balanced market.


Calgary Home Price Index July 2013

HPI for Calgary Real Estate Statistics July 2013 


 

Market Snapshot

Single Family

Condo/Apartment

Condo/Townhouse

Monthly

Jul/12

Jul/13

%Chg

Jul12

Apr/13

%Chg

Jul/12

Jul/13

%Chg

Total Sales

1352

1575

13.97

311

398

27.97

239

295

23.43

New Listings

1879

1958

4.20

476

466

-0.21

304

302

-0.66

Average Price

478,557

524,900

9.68

286,231

302,058

5.53

303,380

327,570

7.97

Active Listings

3646

2917

-19.99

1161

768

-33.85

623

407

-34.67

Days on Market

40

37

-8.34

75

60

-19.91

100

96

-3.83

 

MLS HPI

July 2013

% of Changes

 

 

Benchmark $

HPI

Jun/13

Jan/13

Jul/12

Jul/10

Jul/08

Single Family

447,200

194

0.4%

5.6%

6.5%

13.2%

9.8%

Condo/TH

293,500

185

0.0%

4.1%

6.4%

6.6%

-2.2%

Condo/Apt

266,400

187

1.4%

6.4%

8.0%

7.7%

0.7%

 

The number of entry level homes sales was slightly down from previous months, but still up over the same period last year.   What is most interesting to me is the average days on market for the entry level homes almost doubled from April.  

 

Being that entry level homes are the drive to a growing market, does this mean we may see a slight cool down in the market once we are in the final quarter of the year?  We will have to see what August and September bring.


Single family homes on the other hand increased 14% over July 2012 with year-to-date growth of 2.5%.  

 

New listings increased in July 2013 to 1,958 units, this was not enough to ease supply pressures in the market.

Active listings declined to 2,917 units, which is nearly 20% lower than already declining levels recorded in 2012. 

 

We can expect our market to remain healthy for the next few months based on the inventory levels and activity.

 

Download July 2013 Calgary Real Estate Board Statistical Package (pdf format)

View previous month statistic's.

 


What are your thoughts on Calgary's real estate market? Comment below.

 

Are you courious what your home or condo is worth with some of the increases in market values?

I can provide quick and easy (no obligation of course) online home evaluations.

 

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.
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