Calgary Real Estate Market Update for December 2014
– New sales records set by condo and townhome sectors in 2014 –
Both townhome and condo sectors in Calgary have set new sales records in 2014 despite a 7.5 percent decrease in year-over-year residential sales for the month of December.
However, sales activity for all of Calgary’s residential sectors have stayed within boundaries similar to the long-term averages.
Having said that, it is important to note that it is not unusual to see lower activity levels during December and the winter months ahead due holidays, cold weather and other unmentioned factors.
Put the slump in December’s sales aside and overall Calgary’s residential sector ended 2014 off on a very positive note as the market experienced an increase in its annual sales by 9.3 percent over the previous year.
Single-Family Calgary Real Estate Market Update
- 708 total units sold in December 2014, an 8.3 percent year-over-year decrease
- 17,185 total sales throughout the year, a 5.5 percent increase over 2013
Condo / Townhome Calgary Real Estate Market Update
- A six percent decrease in year-over-year sales for condominiums
- 4,742 total condominium sales, a substantial 18 percent increase over 2013
- 3,737 total townhome sales, another considerable 17 percent increase over 2013
Growth in the condo and townhome sectors are closely related to the affordability of the lower price-point product, especially below the $400,000 range.
More consumers are turning their heads towards the sector for their living arrangements as single-family homes below that price point are few and far between.
Calgary Real Estate Market Update
- 25,664 total sales throughout 2014, a nine percent increase over the previous year
- 36,329 total new listings in 2014, a 13 percent increase over the previous year
With new listings outpacing sales, inventory levels have gone up and as a result has given buyers more options to choose from and more time to make those key decisions.
More Market Updates
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