House sales in certain Calgary communities and specific real estate price ranges have been more than warm this spring. March saw declining new listings in single family homes in addition to brisk sales. An increase in housing demand has come from an attractive economy, increased immigration to the city and a tight rental market. This resulted in the lowest level in inventory Calgary has seen since 2006.
Early spring has favoured the seller with many homes selling at or above list price and with multiple offers. This year 2,377 properties sold in April, and 529 of them for more than list price. The unadjusted single-family benchmark price totaled $496,700 in April, a nearly 10% increase over April 2013 and up slightly over 1% from March figures.
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