Calgary resale housing market prices and sales continue to climb
Oil prices are one factor in the Alberta economy but it is far from the only story. Workers and immigrants are attracted to the business friendly climate and opportunities abound. Prices for real estate will continue to rise 1, 2, 10 years from now and so will rents on apartment buildings.
Realtor Julie Dempsey stands outside one of her listings in the Lindsay Park Place building in the Mission area of Calgary on July 10, 2014.
Home sales stayed strong in November, rising 3.4 per cent from a year earlier, according to Calgary Real Estate Board data.
The median MLS sale price increased 5.3 per cent to $429,000, while the average sale price was up 6.1 per cent to $485,962, it said.
“It was a relatively strong month when we look at sales, listings, inventories. But definitely one that’s moderating,” said Ann-Marie Lurie, CREB’s chief economist. “We’re seeing a return to more balanced conditions and that’s easing some of the pressure on price growth, which is actually a good sign for Calgary’s market.”
In the single-family market, MLS sales last month dropped one per cent to 1,181 transactions, although the average price gained 8.7 per cent to $560,117. The median price rose by 5 per cent to $478,000. Condo apartment sales increased 6.9 per cent to 324. The median price was up by 7.4 per cent to $290,000 and the average price rose 4.9 per cent to $322,486.
Sales in the condo townhouse market increased 21.5 per cent, while the median price was up by 6.4 per cent to $331,000 and the average price rose by 0.7 per cent to $361,013.
Towns surrounding Calgary saw sales jump 15.5 per cent. The median price was up by 3.8 per cent to $383,000 but the average price dropped by 0.4 per cent to $391,155.