Calgary resale housing market sets all-time record for average sale price – February 2013 MLS sales eclipse prices set in boom of July 2007

Calgary’s resale housing market set an all-time average sale price record in February, eclipsing the mark that has stood since the boom in July 2007.

According to the Calgary Real Estate Board, the average MLS sale price for a single-family home during the month was $518,452, up 10.32 per cent from last year while the average price for overall MLS sales in the city was $457,119, up 7.49 per cent year-over-year.

The previous single-family home record high for average sale price was $506,671 in July 2007 and it was $452,589 in July 2007 as well for overall MLS sales in the city.

“Calgary’s housing market remains one of the most affordable in Canada and while other major centres have recently been experiencing slower sales activity Calgary is among the top markets in Canada for demand growth,” said Cody Battershill, a realtor with RE/MAX House of Real Estate.

“Alberta incomes continue to lead the country. This is all-around good news for the city as we continue to welcome a steady stream of new Calgarians to be a part of the energy that is Calgary. The city remains an amazing small, big city with one of the highest standards of quality of living in the world and unmatched economic opportunity across all of Canada.”

Total MLS sales of 1,711 in February were a 5.36 per cent hike from a year ago while single-family home sales rose by 0.83 per cent to 1,209.

In the condo apartment category, sales rose by 21.83 per cent to 279 but the average sale price dipped by 0.71 per cent to $287,829.

And in the condo townhouse sector, sales were up 13.78 per cent to 223 and the average sale price increased by 8.49 per cent to $336,406.

© Copyright (c) The Calgary Herald

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