Calgary Resale Home Market Going Strong

Posted by Alan Zunec on Thursday, April 19th, 2012 at 5:19pm.

The Calgary Real Estate Board noted that March saw a decline in the number of homes listed and at the same time an increase in single family home sales. New listings are coming into the market at very good prices, generating interest and activity. But looking at the year over year price growth in Calgary for a typical home, comparing this March to last, was 2.9 percent. That is within the normal range, according to Bob Jablonski, the board’s president.

There is debate over whether this is causing an increase in multiple offers, but Jablonski noted that multiple offers can happen for a number of reasons. These could include a unique style property or one that is listed at a very good price. Single family homes did see a 10.3 percent increase in sales this March when compared to the same month in 2011. Listings also were down 8.3 percent from the beginning of 2012.

March saw 2,167 home sales in Calgary, up 12.6 percent from March of 2011. Ann-Marie Lurie from the Calgary Real Estate Board attributes this to heightened consumer confidence and the still low interest rates. The single family home benchmark price was at $433,500.

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