June 2013 Monthly Housing Statistics

Too soon to see impact of flood on resale statistics…

City of Calgary monthly residential sales totaled 2,317, a six percent increase over June 2012 figures, and nearly five per cent higher than levels recorded in the first half of 2012.

However, the impact of recent flooding is expected to trickle into the housing

statistics over coming months.

“While sales and prices continue to show improvement, the city and residents of communities impacted by the recent flooding will face significant remediation challenges over the coming months” said Ann-Marie Lurie, CREB® chief economist. “Until the extent of the damage is known, it is difficult to accurately assess the full impact this will have on the city’s housing market.”

The level of new listings totaled 3,003 units in the city, a nine percent drop over the previous year. The rise in sales, combined with the drop in listings, is keeping overall market balance in favour of the seller.

Active listings totalled 4,584 units in June, of which more than 660 units are listed in flood-affected areas. Active listings are nearly 20 percent less thanlast year.

“In the coming months, flood victims, particularly those who were planning on selling their homes, will have some big decisions to make,” said Becky Walters, CREB® President. “Will they take a discounted price? Or will they stay and fully remediate the property?

Either way, in the short term, housing supply will likely be relatively tight.”

Condominium sales growth outpaced gains in the single family sector, as less availability of single-family homes priced at less than $500,000 have improved the demand for the relatively affordable condominium market…

 Click on the link below to download your full report:2013_June Monthly Housing Statistics Report