Local Realty Minute: Fifth consecutive month of double digit growth for Calgary

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

Even the snow falling in our city could not cool the hot real estate market in Calgary! For the fifth month in a row, Calgary saw double digit improvements over sales from the previous year.

Total residential real estate sales in November were up nearly 19 per cent over November 2012, according to CREB® [the Calgary Real Estate Board]. These strong months have helped boost our city’s year-to-date sales by 11 per cent above the same month last year. While inventory levels remained over 17 per cent below last years numbers, November 2013 did see a nearly 12 per cent increase in new listings compared to 2012.

This inventory increase (combined with properties remaining active on the market nearly 22 per cent fewer days than last November and the average sale price increasing by nearly six per cent), led to an overall positive month in real estate.

It appears that several factors are motivating buyers. “Many first-time homebuyers appear to be moving now to get ahead of any further increases in home prices, rent hikes, or an increase in lending rates,” says CREB® President Becky Walters. “Current owners are taking advantage of the recent price gains to upgrade to a home that better fits their lifestyle.’ ”

Here is a look at sales activity in Parkdale & a few surrounding communities in November 2013:

Parkdale

Single Family Homes

  • Properties on the Market: 21
  • Sales: 6
  • Properties Added: 12
  • Average Sale Price: $642,500
  • List versus Sale Price: 97.36%
  • Average Days on the Market: 2

Condos

  • Properties on the Market: 6
  • Sales: 1
  • Properties Added: 5
  • Average Sale Price: $557,5000
  • List versus Sale Price: 98.69%
  • Average Days on the Market: 20

West Hillhurst

Single Family Homes

  • Properties on the Market: 41
  • Sales: 13
  • Properties Added: 15
  • Average Sale Price: $718,730
  • List versus Sale Price: 97.11%
  • Average Days on the Market: 35

Condos

  • Properties on the Market: 7
  • Sales: 1
  • Properties Added: 4
  • Average Sale Price: $281,000
  • List versus Sale Price: 98.6%
  • Average Days on the Market: 11

University Heights

Single Family Homes

  • Properties on the Market:
  • Sales:
  • Properties Added: 1
  • Average Sale Price: $760,000
  • List versus Sale Price: 97.06%
  • Average Days on the Market: 57

Condos

  • Properties on the Market: 1
  • Sales: 0
  • Properties Added: 1
  • Average Sale Price: N/A
  • List versus Sale Price: N/A
  • Average Days on the Market: N/A
*statistics provided by creb*
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