MaxWell South Star Realty
#20, 8180 MACLEOD TRAIL S, Calgary, Alberta
P: 403-253-5678
F: 403-253-0679
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Year-end figures demonstrate stable growth
2011 a year of steady improvement for the housing market
According to figures released 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.
“While sales activity in 2011 remained below the long run average by 17 per cent, monthly figures point towards the trend of this gap narrowing,” says Sano Stante, president of CREB®.
2011 single family sales totaled 13,186, a nine per cent increase over last year. While sales increased, listings remained low, with an annual total of 24,245, six per cent lower than 2010 levels. The decline in listings relative to sales pushed down inventory levels to 2,761, resulting in four months of supply.
Single family average price in 2011 reached $466,402, a one per cent increase over last year. While there have been some strong monthly increases, primarily due to sales in the upper end skewing the prices, overall prices have remained fairly stable. Meanwhile, the year-end median price of 405,000 remains at levels similar to 2010. Condominium prices have remained persistently low in 2011, while some of the monthly figures have been boosted by high end penthouse sales. By the end of 2011, the average price of $287,172 remained one per cent lower than the previous year.
“Throughout 2011, elevated levels of inventories have limited price growth as consumers benefitted from sufficient supply of housing to choose from; however, as these inventories drop to levels more consistent with a balanced market, we can expect some moderate price growth moving forward,” Stante concludes.
Calgary Real Estate Market Stats:
| Nov 2011 | Dec 2011 | |
| Single Family Sold | 962 | 722 |
| Single Family Avg Sale Price | $470,665 | $453,629 |
| Single Family Avg Days on the Mrkt Active | 52 | 58 |
| Condominiums Sold | 393 | 310 |
| Condominium Avg Sale Price | $273,356 | $280,155 |
| Condo Avg Days on the Mrkt Active | 57 | 65 |
Housing Statistics / Calgary Metro Statistics / Calgary Real Estate Boardne Campbell, Realtor, Marnie Campbell, Realtor, Marnie Campell, Reltor, Marnie Campell, Realtor, Marnie Campbell, Realtor, Marnie Campbell, Realtor, Marnie Campbell
