Local Realty Minute: 2013 a great year for Calgary real estate!

Traci Nayeri, CCS ~ REALTOR® Residential ONE Real Estate www.tracinayeri.com
Traci Nayeri, CCS ~ REALTOR®
Residential ONE Real Estate
www.tracinayeri.com

What a year 2013 was for residential real estate in Calgary and it is continuing to heat up as 2014 progresses! Total residential real estate sales, for our city, in 2013 were up nearly 11 per cent over 2012, according to CREB® [the Calgary Real Estate Board]. This strong increase helped push the average sale price up by close to seven per cent above last years’ mean of $428,649.

In terms of each sector of properties’ performance in 2013, condo sales grew the greatest over 2012 values! Apartment condo sales increased in excess of 14 per cent, while townhouse condos grew by even more – close to 23 per cent. Single family home sales were also up over the previous year, but with single digit improvements – nearly eight per cent.

“Sales growth exceeded expectations in 2013, pushing above long-term trends,” said Ann-Marie Lurie, CREB®’s chief economist. “Two consecutive years of elevated levels of net migration, combined with an improving job outlook and confidence surrounding long-term economic prospects, supported the demand growth.”

Here is the 2013 sales activity for Parkdale, West Hillhurst & University Heights:

Parkdale

Single Family Homes

  • Properties on the Market: 18
  • Sales: 56
  • Properties Added: 121
  • Average Sale Price: $787,882
  • List versus Sale Price: 97.57%
  • Average Days on the Market: 34

Condos

  • Properties on the Market: 3
  • Sales: 25
  • Properties Added: 37
  • Average Sale Price: $438,483
  • List versus Sale Price: 98.63%
  • Average Days on the Market: 35

West Hillhurst

Single Family Homes

  • Properties on the Market: 30
  • Sales: 152
  • Properties Added: 290
  • Average Sale Price: $785,609
  • List versus Sale Price: 97.63%
  • Average Days on the Market: 42

Condos

  • Properties on the Market: 6
  • Sales: 30
  • Properties Added: 44
  • Average Sale Price: $424,347
  • List versus Sale Price: 98.25%
  • Average Days on the Market: 46

University Heights

Single Family Homes

  • Properties on the Market: 2
  • Sales: 14
  • Properties Added: 24
  • Average Sale Price: $804,178
  • List versus Sale Price: 97.49%
  • Average Days on the Market: 34

Condos

  • Properties on the Market: 1
  • Sales: 1
  • Properties Added: 7
  • Average Sale Price: $263,800
  • List versus Sale Price: 95.11%
  • Average Days on the Market: 102
*statistics & information provided by creb*
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