Calgary Housing Market Improves over 2010
Posted by John Mayberry on Tuesday, November 1st, 2011 at 7:50pm.
Calgary Homes Sales up 10% from 2010
The Calgary Real Estate board has just announced housing stats for year-to-date, and home sales are up. Although sales aren't up to normal historic levels, they have nonetheless improved.
Single family home sales totaled 988 for the month of October 2011, an 11 per cent increase over October 2010, but continue to remain well below historical levels. Year-to-date sales totaled 11,503, a 10 per cent increase over last year. Calgary Condo sales for the first 10 months of 2011 was 4,681 units, a 3% increase over the same period last year. Inventory levels remained at 1,935 units, resulting in months of supply pushing above five months.
“Consumers are feeling more confident about the local real estate market,” says Sano Stante, president of CREB®. “Consumers are taking advantage of price stability and a healthy variety of selection. While these gains are moderate, we are set to outpace 2010 sales.”
Particular Calgary neighbourhoods saw very strong price increases, particularly the southend communities near Crowchild Trail SW. Shaganappi, Elboya, Lower Mount Royal, and communities along the Bow River west of downtown.