My Home Calgary

Market improvements driven by clients looking for value

According to figures released by CREB® (Calgary Real Estate Board), residential sales continue to trend towards recovery. After the first seven months of the year, single family and condominium sales totaled 11,798, a 5 per cent increase over the previous year. While the improvements signal market recovery, overall sales levels remain 17 per cent below the 10-year average for this period.

“The recent rise in average days on market, especially in the single family sector, shows that while properly priced homes are selling quickly, over-priced listings remain on the market for a longer period of time. Improving market conditions may have signaled some sellers to be overly optimistic regarding pricing, resulting in a disconnect between seller and buyer expectations,” says Sano Stante, president of CREB®.

Single family home sales in the City of Calgary edged upwards month-over-month and showed the first year- over-year increase since April 2010, according to figures released today by CREB® (Calgary Real Estate Board).
The number of single family home sales in the month of January 2011 were 791, compared with December 2010, when sales were 734 — an increase of about 8 per cent. The number of condominium sales for the month of January 2011 was 302. This was down from the 320 condominium transactions recorded in December 2010.

Home and condo sales in Calgary and area remained relatively unchanged in December 2010, indicating that a full-fledged recovery in the housing market has yet to take hold, according to figures released today by the Calgary Real Estate Board (CREB®).
The number of single family home sales in the month of December 2010 were 734, compared with November 2010, when sales were 891—a decline of about 18 per cent.

The number of condominium sales for the month of December 2010 was 320. This was up from the 310 condominium transactions recorded in November 2010.