Your Local Realty Minute – New Inventory Added, Allows Spring Sales To Keep Growing

Traci Nayeri, CCS ~ REALTOR® CIR Realty www.tracinayeri.com
Traci Nayeri, CCS ~ REALTOR®
CIR Realty
www.tracinayeri.com

As the warmer weather moves in, it has brought with it an increase in listings! These additional options for buyers have allowed for and spurred on more property purchases. Residential sales in Calgary for the month of May 2014 totaled 2,948 units, according to CREB® [the Calgary Real Estate Board]. That is a 16 per cent increase over the previous year. Sales in May were well above long-term trends and are the highest activity levels for the month of May, on record.

“Strong sales activity is a reflection of improving fundamental conditions such as a growing population, favourable lending rates and rising wages,’ says CREB®’s chief economist Ann-Marie Lurie. “Leading up to May, resale market sales were somewhat restricted by lack of choice. However, recent price gains have encouraged growth in new listings, helping to meet some of the housing demand.”

“The single family market varies depending on the price and location,’ explains CREB® President Bill Kirk. “While the majority of the sales are occurring in the $300,000 to $500,000 range, the number of new listings in this segment has lessened relative to last year, which indicates most new listing growth is occurring in the higher end of the market.”

Taking a closer look at the sales performance of the individual types of housing, both sectors of condos (apartment and townhouse) grew immensely over their May 2013 values. Apartment condo sales, for May 2014, were 24 per cent stronger than the previous years’ sales. Condo townhouse sales also experienced growth in the double digits, with May outperforming 2013 numbers in excess of 12 per cent. Meanwhile, single family home sales saw a more than 15 per cent jump, when compared to May 2013.

May 2014 Information

Parkdale

Single Family Homes Condos – Apartment Condo – Townhouse
Inventory: 18 Inventory: 5 Inventory: 0
Months of Supply: 1.64 Months of Supply: 2.5 Months of Supply: 0
Sales: 11 Sales: 2 Sales: 1
New Listings: 14 New Listings: 2 New Listings: 1
Average Sale Price: $838,864 Average Sale Price: $423,500 Average Sale Price: $405,000
Sale versus List Price: 98.83% Sale versus List Price: 98.51% Sale versus List Price: 98.80%
Average Days on the Market: 37 Average Days on the Market: 41 Average Days on the Market: 19

West Hillhurst

Single Family Homes Condos – Apartment Condo – Townhouse
Inventory:  50 Inventory: 2 Inventory: 4
Months of Supply: 2.94 Months of Supply: 2.0 Months of Supply: 1.33
Sales: 17 Sales: 1 Sales: 3
New Listings:  42 New Listings: 1 New Listings: 1
Average Sale Price: $848,088 Average Sale Price: $185,000 Average Sale Price: $636,667
Sale versus List Price: 99.96% Sale versus List Price: 88.14% Sale versus List Price: 97.06%
Average Days on the Market: 24 Average Days on the Market: 276 Average Days on the Market:    34

University Heights

Single Family Homes Condos – Apartment Condo – Townhouse
Inventory: 2 Inventory: 2 Inventory: 0
Months of Supply: 2.0 Months of Supply: 0.67 Months of Supply: 0
Sales: 1 Sales: 3 Sales:  0
New Listings: 1 New Listings: 4 New Listings:  0
Average Sale Price: $720,000 Average Sale Price: $266,276 Average Sale Price: $0
List versus Sale Price: 98.64% List versus Sale Price: 96.62% List versus Sale Price: 0%
Average Days on the Market:      17 Average Days on the Market:    17 Average Days on the Market:    0

 

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