Calgary Housing Stats
Report Shows Listings up and Prices Expected to Rise
CREB reports that resale home listings were up almost double in January. It appears the race is on for Calgary home owners to sell their homes before the Federal mortgage rules kick in. Listings of single-family resale homes added in January rose from 728 to 1,965. Similarly, condo resale listings rose 141%. With the spring rush coming up shortly, home buyers are going to enjoy an incredible growing inventory of homes to buy. Home and condo prices rose slightly and with the Canadian and Alberta economies showing strength, home prices are expected to rise despite the larger supply of homes available.
Calgary Homes Sales were up 60 from December 2010. According to the Calgary Real Estate Board, the average price of a single family home in the city of Calgary in January 2011 was $454,163. That is a 3% increase over last month's average price of $441,341. CREB also forecasts: “Alberta will begin to see growth in net-migration as the oil and gas sector regains traction. This will help boost consumer confidence and ultimately bring improvements to employment and family income — key drivers of our housing market," says Sano Stante, president of CREB ®.
| Current Active Listings | New Listings | Current Pending Sales | Sold | Avg Sale Price | Median Sale Price | |
| Single Family | 3,341 | 86 | 287 | 1,084 | $460,579 | $394,900 |
| Condominium | 1,729 | 36 | 169 | 433 | $293,102 | $262,000 |
In a recent report by the Calgary Herald of information from the CMHC, construction of new single detached homes fell to 293 units from 413 one year ago. Strangely, Rick Spooner, general of Heartland Homes, a new home builder says their home sales were up last month. He said that since growth predictions for the Alberta economy are positive, with strong oil prices, Calgary will likely see more job creation. Our show home visitors have been more optimistic that prices will not decline any further and they are making purchase decisions."
| Neighbourhood | Inventory | Sales | Homes Added | Avg Sale Price | Median$ | Average Days on Market |
| Beddington | 34 | 6 | 12 | 303,583 | 306,000 | 76 |
| Country Hills | 3 | 6 | 4 | 409,416 | 311,000 | 52 |
| Coventry Hills | 57 | 12 | 39 | 342,083 | 330,000 | 42 |
| Edgemont | 39 | 8 | 26 | 413,00 | 392,000 | 44 |
| Hamptons | 16 | 2 | 6 | 671,250 | 612,000 | 51 |
| Hawkwood | 27 | 2 | 15 | 473,000 | 426,000 | 76 |
| Hidden Valley | 214 | 4 | 13 | 407,250 | 370,000 | 50 |
| Hillhurst | 21 | 2 | 13 | 757,500 | 460,000 | 90 |
| MacEwan Glen | 15 | 6 | 15 | 362, 500 | 326,000 | 48 |
| Panorama Hills | 61 | 13 | 45 | 471,473 | 488,000 | 41 |
| Royal Oak | 41 | 18 | 28 | 508,436 | 475,000 | 56 |
| Tuscany | 68 | 15 | 54 | 486,645 | 425,000 | 49 |
| West Hillhurst | 44 | 8 | 23 | 698,225 | 679,000 | 39 |
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All Information herein deemed reliable but not guaranteed.