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.

For the month of May inventory levels have improved easing some of the tightness in the housing market. “While we did anticipate the rise in new listings this spring, certain segments of the market will likely remain tight,” says CREB® Chief Economist Ann-Marie Lurie. “The single-family market continues to record declining listings for product priced below $400,000. Meanwhile, the growth in listings in April was mostly due to gains in the $500,000 - $999,999 range.”

A few tips to consider when buying a home in Calgary.

  1. Know what you can afford.
  2. Be ready with a pre-approval.
  3. Know what your priorities are – product vs location?
  4. Be aware that conditions are dependent on the community and price range that you are targeting.
  5. Work with a trusted professional who will guide you in finding a new home.


Have questions about Calgary real estate, contact Marnie Campbell, REALTOR® MaxWell South Star Realty.

Posted by Marnie Campbell on


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