According to CREB statistics for the month of January, residential real estate transactions in Calgary increased 15% last month from 2012. In real numbers, that increase translates to 1,230 sales in January compared to 1,068 in the same month last year. To breakdown these numbers even further, the number of single-family home sales can be attributed to 879 of the total sales.
The number of new listings in January saw a slight increase from 2012, with a total of 1,737 for the month. Although the increase was small, it has helped improve sales growth, despite inventory in Calgary being down right now.
CREB offered some perspective on these numbers, as to what it means for buyers and sellers, in their press release:
The lower level of inventories can pose a challenge for buyers, as they will have to make their buying decisions more quickly than buyers have done over the past four years.
“However, this is by no means a signal that the seller has the advantage,” Walters said. “Consumers are fairly price-sensitive and look for value in their purchases.”
“Prices have improved in the Calgary market, but, as always, it is important to keep some perspective on this,” said Ann-Marie Lurie, CREB®’s 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 levelled off for the remainder of the year.”
Whether you're looking to buy or sell right now, feel free to contact me to discuss current market conditions, and what the best option for you might be.