Real Estate in Calgary and specifically in Calgary Northwest has picked up the pace substantially. If you are looking for information specific to your home I would be happy to offer a free no obligation home evaluation.
All the numbers below are taken from the Calgary Real Estate Board’s statistics package for Realtors. Below you will find a summary of some key areas with a few short comments.
Calgary Listing Inventory: Inventory levels for both Single Family homes and Condo’s increased this month. This movement is normal for this time of year and we will most likely see this trend continue for the next several month.
| Inventory | Jan 2012 | Feb 2012 | Change |
| Single Family Home | 2980 | 3093 | +113 |
| Condo’s | 1449 | 1643 | + 194 |
| Total | 4430 | 4736 | +306 |
Calgary Sales:
Calgary Single Family home and Condo sales saw substantial increases in February.
| Sales | January 2012 | February 2012 | Change |
| Single Family Home | 764 | 1284 | + 520 |
| Condo’s | 305 | 453 | + 148 |
| Total | 1078 | 1737 | + 659 |
Calgary Real Estate Sales Prices: Please note that this section has changed so the numbers look much different from last month. In the past the numbers I have always used was the median price as this was in my opinion more accurate than simply using an average. The Canadian Real Estate Association along with the Calgary Real Estate Board have now introduced the MLS Home Price Index which they believe is more accurate than using the Median price and will show less false increases and decreases. For the purpose of this I will use their benchmark price – what an average home would sell for. As you can see by the numbers all categories of housing in Calgary increased in the month of February which makes sense to me as the inventory is up only a little and our sales are up substantially.
| Sales Prices | January Benchmark Price | Feb 2012 Benchmark Price | Change |
| Single Family Homes | 422600 | 427,000 | +$4,400 |
| Condo Townhouse | 287,900 | 288,600 | + $700. |
| Condo Apt Style | 237,500 | 242,900 | +$5,400 |
Overall the market has changed from a strong buyers market to a balanced Market and when I look community by community many popular communities are in a seller’s market position now.
If you have any questions about this summary, or any Real Estate questions please feel free to contact us anytime.
Gord, Eric & Brent
403-861-2256