Market Update April 2013
Posted by Jeff Campbell on Tuesday, April 2nd, 2013 at 4:06pm.
Tightened Housing Supply Curbs Sales Volume
The inventory of active homes for sale in Calgary are the lowest March levels in more that 5 years. The decline in new listings hampered resale sales growth, which declined more than 2% in March compared to March 2012. Less resale product available to consumer is limiting sales growth. Resale homes are selling in less time and with continued upward pressure on prices.
The detached benchmark price for March is $446,500 an increase of 8.64% year-over-year. The apartment benchmark price is $257,700 an increase of 6.05% and the attached benchmark price is $286,800 an increase of 4.44%. Overall sales for the month totaled 2,110 units, compared with 2,166 during the same period last year.
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