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Several Calgary Communities Get a Boost in Sales and Price

According to figures released by CREB® (Calgary Real Estate Board) on November 1, 2011,  Calgary residential sales totaled 16,184 after the first 10 months of the year, an increase of eight per cent over last year.

Over 61 per cent of Calgary’s established communities saw increased sales levels compared to last year. Garrison Woods, Collingwood and Mahogany saw the largest sales increase at 170 per cent combined; nearly half of all Calgary communities recorded price increases, with Shaganappi, Chinook Park and Downtown leading the way with a combined average price increase of 55 per cent.

Sales gain momentum in the first three quarters of 2011

According to figures released by CREB® (Calgary Real Estate Board) on October 3, 2011,  residential sales continued to gain momentum in Calgary this year, totaling 14,832 after the first three quarters, a seven per cent rise over last year.

“Despite recent turmoil in the global economy, Calgarians are showing confidence in the long term prospects for the city and are taking advantage of affordable and stable home prices,” says Bob Jablonski, president-elect of CREB®.

“Undoubtedly, there are a lot of unknowns in the world’s current financial situation, but Calgary and Alberta may be relatively safe havens amidst this uncertainty. Granted, gains in the housing market have been very gradual—but we are seeing signs of improvements. Our province’s growth is expected to outperform the national average, and this will help buoy consumer confidence in Calgary and Alberta.”

Upper-end home and entry-level condo sales get a boost

According to figures released by CREB® (Calgary Real Estate Board) in September, sales for upper-end homes are above the pace set a year ago. As of Wednesday August 31, there were 948 single family sales over $700,000 recorded this year, compared to 779 reported for the same period in 2010.

At the same time, sales for condos priced below $200,000 also received a boost, pointing to a growing number of first-time homebuyers taking advantage of affordability and low mortgage rates. There were 834 condo sales below $200,000 this year compared with 596 for the same period in 2010.