Calgary Real Estate Market Update April 2014
All of Calgary’s residential sectors see an improvement in new listings
After a rather slow start to 2014, price gains and warmer weather has supported the growth of new listings in all of Calgary’s residential sectors.
April saw a total of 3,754 new listings, an 8 percent increase year over year. Total sales also grew year over year by 7 percent with 2,545 units sold.
Throughout 2014, many single-family owners have waited for warmer weather to sell their homes. This statistic is reflected in the fact that April is the first month of the year that saw a gain in new listings for the single-family sector.
On the other hand, the condominium market has had no problems with new listings thus far in 2014 which comes as no surprise with a consistently active new and resale condo market over the past several months.
Calgary Real Estate Single-Family Market Update
- 1,736 total sales, a year over year increase of 8 percent and year-to-date gain of 9 percent
- 2,584 new listings, a 7.4 percent increase year over year
- $496,700 benchmark price, a year over year increase of 9.67 percent and 1.24 percent increase over last month
Improved new listings have released some of tightness in the current market; however, it was not enough to push it back into buyers’ territory.
Calgary Real Estate Condominium / Townhome Market Update
- 449 total sales, a 4.7 percent increase year over year
- 1,511 year-to date sales
- 898 units in inventory with an 11.2 percent increase in new listings
- $291,700 condominium apartment benchmark price, an 11.6 percent gain year over year
- $316,700 townhome benchmark price, a 9.6 percent gain year over year
- Despite the year over year benchmark price gains, figures still remain slightly lower than peak levels of 2007
*Sourced from CREB®
With the increase in new listings for Calgary’s residential sectors, buyers have more opportunities to find the right property that will fit their wants, needs and lifestyle to the fullest.
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