Another Strong month in the Calgary Real Estate Market. To help you keep up to date with the Market we have posted some highlights from the Calgary Real Estate Boards March monthly Statistics package for Realors. It is our belief that Real estate is driven by supply and demand so the areas we focus on include the inventory of listings, our sales and of course median sales prices.
Calgary Listing Inventory: As shown below our inventory in Calgary Metro increased by 683 listings this month. This is very typical to see listings rise as spring arrives.
| Inventory | Feb 2011 | March 2011 | Change |
| Single Family Home | 3504 | 4024 | +520 |
| Condo’s | 1750 | 1913 | +163 |
| Total | 5254 | 5937 | +683 |
Calgary Sales:
Calgary sales continue to trend upwards with single family home sales increasing by 15.9% over February and Condo sales increasing by 24.1% over February. Sales always tend to increase with the arrival of spring. It is unknown at this point how much the changing mortgage rules have impacted sales but the feeling that I have is not very much which means sales could continue to be very strong in the upcoming months.
| Sales | Feb 2011 | March 2011 | Change |
| Single Family Home | 1169 | 1355 | +186 |
| Condo’s | 468 | 581 | +113 |
| Total | 1637 | 1936 | +299 |
Calgary Real Estate Sales Prices : Prices for Single Family homes remained constant this month while condo prices dropped by $11,000 which is almost exactly what we gained in February.
| Sales Prices | Feb Median Price | March Med Price | Change |
| Single Family Homes | $400,000 | $400,000 | 0 |
| Condo’s | $267,000 | $256,000 | -$11,000 |
If you have any questions about this summary or about Real Estate in general please feel free to contact us anytime.
Gord Piper and Brent Wilcox
Century 21, The Professionals