April 2013 Monthly Housing Statistics
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The benchmark price of single- family homes reached a new high of $452,900 in April, as market conditions that favour the seller finally drove prices above the unadjusted peak in 2007.
“It’s really encouraging to see that the Calgary market remains strong,” said Becky Walters, CREB® President. “It’s reassuring to both buyers and sellers to see that this area is outperforming many parts of the country.”
Single-family sales totaled 1,611 in April, nearly two per cent higher than the previous year, but year-to-date figures are similar to levels recorded in 2012. Sales growth in the first part of the year was stifled by a shortage of new listings and inventory. However, the year-over-year increase in new listings of 5.4 per cent helped support sales growth in April.
“Declining selection in the lower price range and market conditions that favour the seller in the overall single-family market has resulted in a boost in demand in the condominium market and surrounding towns,” said CREB® Chief Economist Ann-Marie Lurie. “Inventory levels declined across all of these segments. However, surrounding towns remain in balanced territory, as they experienced the effect of previously elevated inventory levels.”
Click Here to download the full .pdf of the housing market statistics report!
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