CALGARY, Alberta. Canada — Calgary’s resale housing market activity for May 2013. Presented By Rod Forsythe// Keller Williams Luxury Homes
According to the Calgary Real Estate Board, new levels were reached during the month for median and average MLS sale prices in the single-family market as well as for total residential sales in the city.
Also, the month had the highest number of luxury home sales more than $1 million. There were 84 luxury home sales in May, besting the record for any month which was previously 80 in May 2012.
Rod Forsythe of Keller Williams Luxury has been through over 200 homes from $900 to $2.5 million in the past year and has observed good activity in the $1 to $2.5 million dollar price range. The Luxury market is seeing an increased demand for inner-city luxury homes with areas such as Varsity Village, Varsity Estates, Hillhurst, West Hillhurst, Parkdale, Edgemont, The Hamptons, Mount Royal, Elbow Park, Crescent Heights, Altadore, South Calgary and Parkdale some of the most coveted close in neighbourhoods for homebuyers who are seeking superb “fit and finish” as one of Rod’s great clients puts it. It’s a lifestyle choice towards Downtown that allows people less travel time in our busy world.
“Today’s Calgary’s real estate market continues to perform at a pace around 2005 numbers and this is a welcome sign to many businesses, starter to average single-family home sales are picking up again after the mortgage changes last summer and this bodes well for the confidence in both buyers and sellers. Inventory will begin to show up again after the abysmal weather this Spring and a more balanced market for inventory will probably be back in the late summer or fall” Says Rod.
The average sale price of a single-family home in May reached a record of $521,887, eclipsing the previous mark of $518,604 which was set in March of this year. Average sale prices during the month were up 4.03 per cent from a year ago. The median price was also a record at $454,400, up 4.24 per cent from last year. The previous median price record was $450,000 in March of this year. The benchmark price in May, looking at typical properties sold, was up 6.88 per cent to $456,900.
Record prices were also set in May for total MLS residential sales in the city with the average price at $462,076, up 3.83 per cent from last year, and the median price at $406,500, up 4.23 per cent from May 2012. Remember we also had the best Luxury sales above $1,000,000 in May of 2013.
Previous record prices for total MLS residential sales were set in March of this year at $460,903 for the average and $403,000 for the median. The benchmark price in May was up 6.89 per cent to $409,600.
In May, total MLS sales were 3316 and that is in line with the activity we witnessed in May 05 (06 and 07 sales were 10% higher than these numbers)
“Tighter mortgage rules impacted what buyers could afford to purchase in the Calgary market,” said Ann-Marie Lurie, CREB®’s chief economist. “And while the majority of buyers are purchasing single-family homes, the attractive price point has improved demand for condominiums.”
All of this information was gathered from many sources including the Calgary Herald and the Calgary Real estate Board
Have a great day,
Rod Forsythe //Managing Partner // The Forsythe Group
Keller Williams // Calgary Ab Canada 403.777.1040
#1 Keller Williams agent in Alberta 2010, 2011 & 2012.
#9 Keller Williams agent in Canada 2012
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