June 2012 Calgary Housing Market Trends

For the first half of 2012, residential sales in the Calgary market increased 16 percent over the same period last year. With a slight decrease in inventory and more normal levels of sales activity the Calgary market is headed towards a balanced market.

The healthy market has been helped along by the low interest rates and migration of new residents moving to Calgary. The city’s 2012 civic census indicated Calgary had 29,289 new residents over the past year.

 According to the Calgary Real Estate Board, MLS residential sales in Calgary increased by 12.12 percent in June from a year ago and the average sale price increased by 3.61 percent to $441,418. The number of days on the market had a significant change, dropping from 5 days to sell in June 2011 to 40 in June 2012. Thankfully we are not seeing crazy increases in house prices, but we are seeing the need for buyers make their home purchase decision a little more quickly because homes are not staying on the market as long.

There was an increase in single-family home sales in June year-over-year by 16.17 percent. For the same period, condo apartment sales rose by 0.89 percent, while condo townhome sales had a significant jump with an increase of 4.55 percent. Average sales prices rose slightly with a 1.87 percent increase for single family homes, 9.03 percent jump for condo apartments and a 1.40 percent increase for condo townhouses.

According to Bob Jablonski, CREB’s president, “Homebuyers are confident about long-term prospects in our city, and continue to search for homes in those communities that align with their needs. People who are in the market to buy right now have to make their decisions quicker, but they are well informed and they continue to seek out value for their money."

To find out more information about the Calgary market and Calgary market statistics, contact Marnie Campbell, Calgary Realtor®.

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