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Jane Kinsella
The Real Estate Company Ltd.
11, 5080 12A St. SE, Calgary, Alberta
P: 403-874-6143
F: 403-476-5467

Friday, November 2, 2012 - Housing Statistics

Year-over-year sales growth remains in double digit territory
Calgary, November 1, 2012 – City of Calgary sales activity
marked a 23-per-cent increase over levels recorded in
October 2011. The continued improvement in sales has
pushed year-to-date sales activity to nearly 16-per-cent
above levels recorded in 2011.
“Relative to national trends, we continue to move in the
opposite direction, recording both sales and price growth,”
said CREB® President Bob Jablonski. “However, despite the
higher than anticipated sales growth this year our market is
not overheating, simply returning to levels consistent with
long term trends and prices still have not fully recovered
after the last recession.”
Sales improved over 2011 levels across all housing types in
the city. Single family sales growth has been the strongest,
with nearly 17-per-cent more year-to-date sales this year
compared to last year. Meanwhile, apartment condominium
sales have been rising at a slower pace, with year-to-date
sales nearly 12-per-cent higher than last year.
New listings within city limits totaled 2,312 for the month, a
9-per-cent decline over October 2011 levels. The decline in
new listings relative to sales has continued to reduce total
page 1 d
g y , ,
inventory levels across all sectors. However, because this is
a less active period in real estate, the months of supply
remains within balanced levels.
The strong demand for homes relative to the supply levels
has caused some significant increases in the price of single
family homes this year compared to 2011. As of October
2012, the benchmark price for a single family home was
$433,300, an 8-per-cent increase over the previous year.
While there has been significant recovery in Calgary home
prices, typical unadjusted home prices have leveled off
remaining relatively unchanged over the past 4 months, and
remain below the highs recorded in 2007.
Condominium apartments recorded a benchmark price of
$247,000 in October 2012, losing some ground over the
previous month, but still higher than the previous year by 3
per cent. While on average condominium apartment prices
have fallen more than risen since 2007, condominium prices
this year have recovered to levels comparable to 2010.
After the first 10 months of the year condominium
townhouse sales totaled 2,279, 16-per-cent higher than last
year. The benchmark price for a townhouse in October was
$279,000, a 3-per-cent improvement over October 2011.
“At the end of last year, the Calgary
economy was growing and continued to post
job growth,” said Ann-Marie Lurie, CREB®’s
chief economist. “However, global economic
uncertainty was increasing, impacting overall
consumer confidence and contributing to a
significant amount of caution in the resale
“While many of these global economic risks
remain this year, consumers’ concern
regarding the impact on our economy has
lessened. Calgary has continued to record
relatively strong economic, employment and
migration growth. This combined with
improving affordability has encouraged
consumers to purchasing real estate in

posted in General at Fri, 02 Nov 2012 16:22:47 +0000

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