Blog by Daren Gull, Realtor

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Calgary Real Estate Update 2013

Calgary, February 1, 2013 – Residential real estate sales in the 
city of Calgary started the year on a positive note, increasing 
by 15 per cent over the same month in 2012.
Total sales were 1,230 units, a significant increase over the 
1,068 units last year. But sales remain well below January 
levels recorded through the peak years of 2003 – 2008.
“While activity is typically slower in the winter months, recent 
improvements in single family new listings helped support 
improved sales in that market,” said CREB® President Becky 
Walters. “Overall indicators put the market in balanced 
conditions.”
Single family sales totaled 879 units in January, a 15 per cent 
increase over January 2012 levels.  New listings remained just 
above levels recorded at the same time in 2012, for a total of 
1,737.  The slight improvement in listings helped support sales 
growth, although inventory levels remain down by doubledigits.  
“Inventory levels have improved relative to December, as is 
the seasonal trend,” said Walters.
The lower level of inventories can pose a challenge for buyers, 
as they will have to make their buying decision quicker than 
CITY OF CALGARY TOTAL SALES
CALGARY ACTIVITY
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The lower level of inventories can pose a challenge for buyers, 
as they will have to make their buying decision quicker than 
buyers have done over the past four years. 
“However, this is by no means a signal that the seller has the 
advantage,” said Walters. “Consumers are fairly price-sensitive 
and look for value in their purchase.” 
Unadjusted single family benchmark prices are showing 
improvement over January 2012, increasing by nine per cent. 
They are relatively unchanged over figures reported in 
December 2012.
“Prices have improved in the Calgary market, but as always it 
is important to keep some perspective on this,” said Ann-Marie 
Lurie, CREB® Chief Economist. “While January’s year-over-year 
increase seems significant, price recovery occurred in the 
spring months of 2012 under tighter market conditions and 
home prices leveled off for the remainder of the year.”  
Apartment and townhouse condominiums recorded respective 
sales of 204 and 147 units in January 2013.  Although sales 
increased, the number of new listings declined.
“With excess supply relative to demand persisting for several 
years, the condominium apartment market has been slow to 
recover,” said Lurie. “Sales growth amidst declining listings has 
supported recent improvements in condominium apartment 
prices, something that has already been occurring in the single 
family sector.”
The unadjusted benchmark apartment price totaled 
$251,300 in January, a 7.5 per cent increase over 
the 2012, and a one per cent increase over 
December figures.  
Meanwhile, the condominium townhouse 
benchmark price was $283,400 in January, 4.9 per 
cent higher than January 2012, and slightly lower 
than levels recorded in December.  
“There is cautious optimism over the economic 
situation in Calgary,” said Lurie. 
While energy companies face market access 
challenges, several options are being considered to 
reach more diverse markets, she said. 
“If some of these options are economically viable 
and pass regulatory approval, this would support 
economic growth moving forward.”
Calgary, February 1, 2013 – Residential real estate sales in the city of Calgary started the year on a positive note, increasing by 15 per cent over the same month in 2012.Total sales were 1,230 units, a significant increase over the 1,068 units last year. But sales remain well below January levels recorded through the peak years of 2003 – 2008.“While activity is typically slower in the winter months, recent improvements in single family new listings helped support improved sales in that market,” said CREB® President Becky Walters. “Overall indicators put the market in balanced conditions.”Single family sales totaled 879 units in January, a 15 per cent increase over January 2012 levels.  New listings remained just above levels recorded at the same time in 2012, for a total of 1,737.  The slight improvement in listings helped support sales growth, although inventory levels remain down by doubledigits.  “Inventory levels have improved relative to December, as is the seasonal trend,” said Walters.The lower level of inventories can pose a challenge for buyers, as they will have to make their buying decision quicker. The lower level of inventories can pose a challenge for buyers, as they will have to make their buying decision quicker than buyers have done over the past four years. “However, this is by no means a signal that the seller has the advantage,” said Walters. “Consumers are fairly price-sensitive and look for value in their purchase.” Unadjusted single family benchmark prices are showing improvement over January 2012, increasing by nine per cent. They are relatively unchanged over figures reported in December 2012.“Prices have improved in the Calgary market, but as always it is important to keep some perspective on this,” said Ann-Marie Lurie, CREB® Chief Economist. “While January’s year-over-year increase seems significant, price recovery occurred in the spring months of 2012 under tighter market conditions and home prices leveled off for the remainder of the year.”  Apartment and townhouse condominiums recorded respective sales of 204 and 147 units in January 2013.  Although sales increased, the number of new listings declined.“With excess supply relative to demand persisting for several years, the condominium apartment market has been slow to recover,” said Lurie. “Sales growth amidst declining listings has supported recent improvements in condominium apartment prices, something that has already been occurring in the single family sector.”The unadjusted benchmark apartment price totaled $251,300 in January, a 7.5 per cent increase over the 2012, and a one per cent increase over December figures.  Meanwhile, the condominium townhouse benchmark price was $283,400 in January, 4.9 per cent higher than January 2012, and slightly lower than levels recorded in December.  “There is cautious optimism over the economic situation in Calgary,” said Lurie. While energy companies face market access challenges, several options are being considered to reach more diverse markets, she said. “If some of these options are economically viable and pass regulatory approval, this would support economic growth moving forward.”