Communities Surrounding Calgary Outsell The Big City, See 21% Increase In 2012

Posted by Alan Zunec on Saturday, January 26th, 2013 at 11:24am.

Calgary did see a rise in sales this past year, but the towns and cities surrounding this Alberta population center did even better. In Calgary, sales through the MLS system increased by 14.66, but in those surrounding areas, sales were up by 21 percent.

Calgary Real Estate Board’s president, Becky Walters, noted that 2012 was the year for stronger growth and sales outside of the city. Prices have recovered, as they have in Calgary, but still below the pre-recession levels seen in 2007. Cochrane, Okotoks and Airdrie saw the greatest amount of growth, with sales increases in the double digits.

Collectively the communities surrounding Calgary saw 3,970 sales through the MLS system for 2012. The single family home price did go down 0.51 percent from the rate seen in 2011, coming in at an average of $374,136 per home.

Airdrie saw 1,152 sales, an increase of 22.55 percent. Average home prices for single family units went up 2.53 percent to $370,905 per home. In Okotoks, sales increased by 11.85 percent, with 585 sales. A single family home average price went up by 0.32 percent, coming in at $415,415 per sale.  Cochrane saw a 25.43 percent increase in sales with 508 sales on the books and an average single family home price of $426,127. That price was down from the 2011 rate by 1.24 percent.

In Calgary, 21,207 homes changed hands, at an average price of $428,655 for all home categories. That is a 3.44 percent increase over 2011 prices. Single family properties saw a 3.16 percent increase, coming in at an average of $481,236.

CREB’s Ann-Marie Lurie noted that people are finding the smaller communities more affordable, so that’s where they are drawn. They can get a larger home, more personal space and a greater assortment of single family homes to choose from. Calgary’s single family home inventory is getting tighter by the minute.

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