CALGARY — MLS sales activity improved across all residential sectors in February compared with a year ago, according to data released today by the Calgary Real Estate Board.

Calgary and area sales growth pushed February total residential activity of 2,160 sales up by 11.6 per cent compared with February 2011.

In Calgary itself, CREB data indicates total sales of 1,737 during the month was up 7.02 per cent from February 2011.

“City sales were boosted by a lot of activity in the last week of the month,” said Bob Jablonski, CREB’s president, in a statement. “This points towards the improvements that we expect to see in our spring market activity.”

In Calgary, single-family home sales of 1,284 were up 10.88 per cent from a year ago while condominium townhouse sales of 205 were up 11.41 per cent from February 2011. Single-family home sales were the highest February total since 2007.

However, condominium apartment sales of 248, represented an 11.74 per cent decline.

“Activity in the housing market in Calgary has been encouraging and we are expecting to see continued improvement in the months ahead,” said Richard Cho, senior market analyst in Calgary for Canada Mortgage and Housing Corp.

“Conditions had favoured the buyer in the last couple of years but we are seeing signs that the market is transitioning closer towards more balanced levels. Growth in employment and migration, supported by activity in the energy sector will help sustain demand for new and resale homes.”

According to CREB’s new MLS Home Price Index, the single-family ‘benchmark’ price of $427,000 rose by 4.32 per cent over February 2011. The condo apartment price of $242,900 increased by 1.17 per cent over last year’s level. And the condo townhouse benchmark price of $288,600 was up 3.44 per cent from last year.

CREB says its new home price index measures how typical properties are valued in the market rather than relying on average and median prices.

It is calculated using a statistical model that estimates prices based on several factors, including square footage, lot size, numbers of bathrooms and features such as fireplaces or a finished basement. The index will divide the information into different categories that include single-family homes, which are split into one-storey and two-storey homes, townhouse or row units and apartments.

The average sale price for single-family homes in Calgary in February of $469,725 was 1.64 per cent higher than last year. In the condo apartment category in February, the average sale price rose by 3.66 per cent to $289,023. In the condo townhouse category in February, the average sale price was up 0.51 per cent to $310,047.

“More selection and a wider range of prices have drawn consumers to the condominium townhouse and single-family markets,” said Jablonski. “As is the case with all property types, we saw modest price improvements compared to February last year, but overall levels remain below peak pricing.”

CREB said fewer new city listings are coming to the market with a year-over-year decline of 10.2 per cent. Inventories also fell by 8.5 per cent over last year’s figures with a total inventory of 4,736 for the month. In the surrounding towns, listings recorded a year-over-year improvement of 12.1 per cent and no significant change in inventories, added CREB.

Post CommentComments: 0Read Full Story
Categories: 204 Kincora Glen N.W. | 5 Copperpond Link S.E. | 5535 Forand Street S.W. Calgary ,AB. | Airdrie, Airdrie Real Estate | Albert Park, Calgary Real Estate | Alberta Travel Video | Backing onto Pond | Beltline, Calgary Real Estate | C-207, Calgary Real Estate | Calgary 2013 Real Estate | Calgary Affordable Homes | Calgary Alberta Tourism Tube | Calgary Community Link | Calgary Real Estate | Calgary Real Estate Channel | Canada Housing Sales | Canyon Meadows, Calgary Real Estate | Choosing Colors for your Rooms! | Coach Hill, Calgary Real Estate | Cochrane, Cochrane Real Estate | Community information | Condominium Building Continues in Calgary | Connaught, Calgary Real Estate | Continued Growth | Copperfield, Calgary Real Estate | Cougar Ridge, Calgary Real Estate | Country Hills Village, Calgary Real Estate | Evanston, Calgary Real Estate | Family Calgary Things To Do | Garrison Green | Garrison Green, Calgary Real Estate | Hamptons, Calgary Real Estate | | Huntington Hills, Calgary Real Estate | Kenton Ryan | Kenton Ryan Launching New You Tube Channel | Kincora Summit | Kincora, Calgary Real Estate | Lake Bonavista, Calgary Real Estate | Little Calgary | Lower Mount Royal, Calgary Real Estate | MacEwan Glen, Calgary Real Estate | Manchester, Calgary Real Estate | McKenzie Towne, Calgary Real Estate | Midnapore, Calgary Real Estate | Millrise, Calgary Real Estate | Moving Brokers | New Brighton, Calgary Real Estate | New Schools Announced for Calgary | Ogden, Calgary Real Estate | RE/MAX Real Estate (Central) | Real Estate Internet Marketing | Resale Upswing! | Riverbend, Calgary Real Estate | Royal Oak, Calgary Real Estate | Shaganappi, Calgary Real Estate | Somerset, Calgary Real Estate | Strathmore, Strathmore Real Estate | Technology in Real Estate | Temple, Calgary Real Estate | Thinking of Moving to Alberta | Tuxedo, Calgary Real Estate | Valley Ridge, Calgary Real Estate | West Hillhurst, Calgary Real Estate | Woodbine 6 Bedroom Home in Cul-de-sac! | Woodlands, Calgary Real Estate |

Kenton Ryan

Office: 403-216-1600

Fax: 403-476-0405

  looking at buying
  past client
  Contact Me
Data supplied by CREB®’s MLS ® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.