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Real Estate

NEWSLETTER

Peter Kusch

Tel.:990-7990

 January 2012

2011 A YEAR OF STEADY IMPROVEMENT FOR THE HOUSING MARKET

Calgary MLS sales in 2011 bested the Canadian average for year-over-year growth, according to the Canadian Real Estate Association.

In releasing its year-end data on Monday, the association said sales of 22,466 units last year were up 7.0 per cent from the previous year while in Canada sales grew by 2.2 per cent to 456,749 transactions.

Sales across Alberta jumped by 6.9 per cent to 53,146 units. However, Calgary and Alberta were behind the national average when it came to the annual price hike.

Calgary and Alberta registered 1.0 per cent year-over-year gains in the average MLS sale price to $402,851 and $355,808 respectively. The national average was a 7.2 per cent hike to $363,346.

"The momentum in sales activity provides clear evidence that low interest rates continue to draw homebuyers to the housing market," Gary Morse, CREA's president, said in a statement. "While buyers have become increasingly cautious, the hand-off for sales activity going into the New Year suggests that Canada's housing market will continue to benefit from low interest rates in 2012, and continue making a significant contribution to Canadian economic activity."

Calgary’s statistics:

• It took 46 days on average to sell a single family home in 2011 versus 43 days in 2010.
• It took 54 days on average to sell a condominium in 2011 versus 48 days in 2010.
• The apartment vacancy rate in Calgary decreased to 1.9 per cent, down from 3.6 per cent in the previous year
• Net migration to Calgary was 17,000 in 2011.
• Sales to listings ratio in 2011 was 26% indicating stable market with a tendency towards the buyers.
• A sale to list price in 2011 was 96.6% - identical to the number achieved in 2010. 

  Average days on the market (Calgary Metro)

  Median price (Calgary Metro)

 Source: Calgary Real Estate Board

           Calgary Metro-within Calgary City Limits