Calgary real estate market continues to climb

Calgary’s resale housing market saw continued growth in April with MLS sales and prices on the upswing.

According to preliminary, unofficial figures on the Calgary Real Estate Board website, total MLS sales during the month of 2,381 were up 8.28 per cent compared with April 2012.

The average sale price jumped by 4.08 per cent to $446,408 while the median price increased by 4.69 per cent to $399,900.

“I listed one in Signal Hill. It sold within a week. We had a ton of showings within the first couple of days. Properties are moving,” said Kristine Semrau, a realtor with Sotheby’s International Realty Canada in Calgary.

“I’ve got buyer clients and we’ve got properties lined up to see the next day and by the time the next day comes they’re gone. I’m sure you can tell by the number of sold signs and all the stickers around town. It’s a little crazy but good.”

New listings of 3,476 were up 7.32 per cent from last year but active listings of 4,364 have dropped by 17.11 per cent.

An indication of how quickly properties are being purchased is the days on market statistic which shows it took an average of 33 days in April for a property to sell, down 19.51 per cent from the 41 days a year ago.

“House prices in Calgary have been on the rise in 2013. Demand for housing continues to be well supported by the economy, while active listings have declined. Homes are also selling quicker compared to the previous year which is also putting upward pressure on prices,” said Richard Cho, senior market analyst in Calgary for Canada Mortgage and Housing Corp.

In the single-family market, sales reached 1,611, up 1.96 per cent from last year as the median price rose by 6.74 per cent to $449,900 and the average price increased by 5.75 per cent to $510,834.

The condo apartment sector saw sales increase by 22.22 per cent to 429 as the median price rose by 4.29 per cent to $255,500 and the average price was up by 8.74 per cent to $291,344.

In the condo townhouse market, sales increased by 27.24 per cent to 341 transactions. The median price fell by 1.11 per cent to $296,000 but the average price was up by 5.15 per cent to $337,118.

© Copyright (c) The Calgary Herald

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