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Market Update November 2013

Posted by Arshad Rashed on Monday, November 4th, 2013 at 10:32am.

Price gains encourage new listing growth.  

Price growth and tighter market conditions have encouraged some of the recent rise in new listings.  This is a trend worth noting as the rise is easing some of the tightness in the market.  Despite some movement, seller`s market conditions persist. While upward price pressure is expected to persist in the near term it is unlikely we will face the same spike seen in 2006. That`s because economic conditions are quite different today than they were in that time period.

The detached benchmark price for October is $468,000 an increase of 8.01% year-over-year. The apartment benchmark price is $276,100 an increase of 11.78% and the attached benchmark price is $302,200 an increase of 8.32%.  Overall sales for the month totaled 1,953 units, compared with 1,659 during the same period last year.

Call Jeff Campbell 403-275-3331



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