Calgary’s Resale Home Market is Heating Up

Posted by Alan Zunec on Thursday, March 15th, 2012 at 11:47am.

Sales in the resale housing market in the Calgary region are heating up. In February, sales were up 11 percent over February of 2011. Some 1,284 single family homes were sold, compared to the 1,169 seen the prior year. The biggest increase was seen in housing priced between $500,000 and $549,000. February of 2011 saw 65 sales in this price range, while last month saw 106.

The hottest area was Zone A, which covers northwest Calgary, that saw 465 sales. January saw the most sales in this area as well, but there were only 271 properties changing hands. Tuscany was the hottest neighborhood, accounting for 40 of those February sales. The price point averaged $504,347.

Zone B was the slowest part of the region, which is northeast Calgary. This part of the city saw only 164 home sales. The average price point was also the lowest, at $293,714 per single family home. Dover was the slowest neighborhood in Zone B, with only three sales, averaging $195,714.

Zone C, the southwest, saw the highest average price point, $589,106. The affluent Bel Aire neighborhood had one sale, but that sale was for $2.1 million. Southeast Calgary, Zone D, had an average resale price point of $422,582. All of these figures are courtesy of the Calgary Real Estate Board and pertain to the single family home category.

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