Barry Klatt

403-271-0600
Barry Klatt
Office:403-271-0600
Fax:403-476-5236

Why Sign Up?

  • Save your Listing Searches
  • Email Alerts on new Listings
  • See new listings sooner
  • Tag your Favourites for later

Already A Member?

September Sales Stay Strong

 

View Full Statistics Report

 

Rise in new listings prevents further tightening in the resale market


Calgary, Oct. 1, 2013 – City of Calgary residential sales totaled 1,923 units in September, 19 per cent higher than last year and 14 per cent higher than long-term averages for the month.


While sales activity over the past three months has been above long-term trends, it was less so in September than in July and August.


"The impact of the floods likely boosted sales throughout July and August, and it appears as though some of that additional demand is starting to ease," said Ann-Marie Lurie, CREB® chief economist.


"Nonetheless, sales growth remains strong, in part because net migration has been stronger than anticipated and rental product is in short supply."


As Calgary’s market remains in seller’s territory, a notable shift is occurring with new listings. While monthly levels of new listings have been declining since 2011, over the past three months the levels of new listings have improved. The growth was not enough to cause any significant changes in inventory levels, but it has helped prevent further tightening in the market.


"The increase in new listings has given buyers more choice," said Becky Walters, CREB® President.


Activity varies by community, property type and price. Consumers searching for lower-priced single family homes often have to adjust expectations or consider alternative communities or property types. While many buyers think the seller’s market conditions should lead to a significant price premium for their property, consumers remain price sensitive.


"Selection is limited in the lower price ranges, but choice has improved for higher prices homes," said Walters.


Condominium apartment and townhouse sales totaled a respective 3,147 and 2,494 after the first three quarters of the year. Year-to-date sales growth is more than double the levels recorded in the single family sector.


"The condominium market offer affordable options for consumers in the city, and the growth reflect that," said Walters. "But keep in mind condominiums still represent less than one-third of residential sales within city limits."


Single family sales totaled 13,006 units after the first three quarters of the year, a 6.7 per cent increase over the previous year. Single family sales increased in the third quarter, while the first two quarters were on pace with activity in 2012.


"Tight market conditions have supported price growth in the Calgary market," said Lurie. "But the pace of unadjusted monthly growth has eased in September."


"While prices show strong year-over-year gains, if the level of new listings continues to improve relative to sales activity, prices should level off for the remainder of the year."


Condominium apartment prices totaled $272,900 in September, a 9.5 per cent increase over 2012 and 0.9 per cent higher than August figures.


Meanwhile, single family and condominium prices totaled a respective $463,700 and $299,100, similar to unadjusted levels recorded in August and more than seven per cent higher on a year-over-year basis.


Other Articles in Newsletter:


Read full post

Strong sales growth in July

 

Tight market conditions support upward price trend

City of Calgary residential sales totaled 2,268 units in July, a 17 per cent increase over the previous year and up more than six per cent so far this year.

The flood that devastated the Calgary area on June 20 likely contributed to pulling forward sales activity, said Ann-Marie Lurie, CREB® chief economist. » Click Here

 

Update: Calgary realtors see 'crazy' rush of home buyers after flood » Click Here

 

Calgary by the numbers: Census 2013 results released - As Calgary continues to grow, more people are moving to the ‘burbs. » Click Here
 

12 Ingenious Hideaway Storage Ideas For Small Spaces: The main problem when you have to live in a small space is storage. » Click Here

 

Survey: Buyers Will Pay More for Good Schools: home buyers said they would be willing to go over their budget by up to 10 percent in order to buy in their preferred school boundaries » Click Here

 

View Full newsletter at https://www.mailoutinteractive.com/Industry/View.aspx?id=471736&p=ffe1 or sign up to receive your copy once a month and unsubscribe anytime

Read full post
Categories:   2013 real estate | alberta | alberta e | alberta economy | alberta economy, edmonton alberta, university of alberta, | auburn bay | barry klatt | best my nest | best time to sell or buy house | black friday in Canada | buying houses | ca | calg | calgary | calgary buy sell | calgary census | calgary condo for sale | calgary flood | calgary flooding | calgary luxury home market | calgary luxury real estate | calgary m | calgary mls | calgary mls listings | calgary real estate | calgary real estate market | calgary real estate s | calgary real estate statistics | calgary real estate, commercial real estate alberta, alberta real estate market | calgary rental market | calgary resale market | calgary sales expectations | calgary schools | calgary stampede | calgary statistics | calgary top realtor | calgary vacancy | calgary walkability | calgary youtube video | canada economy | canadian spending | celebrations around the world | christmas spending | cir | cir calgary | cir rea | cir real estate | CIR Realty | cleaning tips | costa rica real estate | cranston | creb | diy home | diy projects | driveway repair | earth | economic forecast | edmonton economy | Facebook | finance | financial times | first time | first time home buyer | first time home buyers | fix up home to sell | for rent calgary | foreclosures | halloween | heritage homes | high river flood | holiday | home buyers | home buying | home buying mistakes | home buying tips, home reno, furnace buying, real estate investment | home design | home improvement | home prices | home ren | home renovations | home repair | home sellers | Home tips | Home tips and advice | homes for sale | hoome renovation | house safety | housing market | how realtors help | how to save | investmen | investment real estate | jeff kahane law | legal advice | legal contracts | live in alberta | lowe's | mahogany | mark zuckerberg | market trends | memorial drive | mexico real estate | mls | mls listings | mls listings canada | mls sales | mold in the home | money talks | monthly newsletter | mortgage rates | mortgage tips | new developments | news | october 31 | phone app key | pothole | properties | rbc mortgages | real estate | real estate 2013 | real estate after flood | real estate canada, mls listings, residential real estate, alberta real estate, cir realty | real estate deals | real estate developers | real estate invest | real estate listings | real estate market | real estate market canada | real estate new year | realtor | renovation insurance | revenue property | saskatchewan economy | selling houses | single family house prices | smart investment | Social media facebook | south hospital | southeast calgary | southeast ring road | spring clean | storage ideas | tax refund | technology | top producer | toronto real estate | united states real estate | united states real estate foreclosure | vacation home | vacation rental | vancouver real estate | world | world economy | ymca strong kids | your finance
Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.