The Calgary housing market statistics for July 2012 show steady growth despite cooling residential property sales activity in other Canadian markets like Vancouver and Toronto. Canada's two largest cities have seen some big housing market swings in 2012, but Calgary's positive migration and an increase in confidence in the economy have helped the city maintain a balanced market.
According to the Calgary Real Estate Board, MLS residential homes sold in Calgary increased by 21.22 per cent in July 2012 from 2011. The average sale price for the month of July also increased to $422,680 from $412,532 in 2011, an increase of 2.46 per cent. New listings in Calgary decreased by 5.22 per cent in July compared to last year, giving the city a 3 month supply. This decrease in supply also reduced the average days on market to 52 from 56 in 2011.
Calgary communities that showed significant single family home sales in the month of July were Coventry Hills with 47 sales, Evergreen with 35 sales, and Cranston with 33 sales. Connaught and McKenzie Towne had the most condominium sales with 21sales each.
“Consumers have been cautious of the housing market coming out of the recession, but housing sales have improved considerably, driven by home prices that are still below peak, favourable interest rates and bullish forecasts on the local economy,” says Bob Jablonski, President of CREB®.
Calgarians have been very fortunate to live in a city that hasn't experience the same large housing market swings as other major Canadian cities. I'll take Calgary's steady pace any day!
To find out more information about the Calgary market and Calgary market statistics, contact Marnie Campbell, Calgary Realtor®.
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