Calgary Real Estate January 2014 Monthly Housing Statistics

With sales for the city of Calgary totaling 1,440 units, which represents a 17 percent increase when compared to 2013 figures, sales in January 2014 were the highest they have been since 2008 . These figures represent a continuing trend that started in the later portion of 2013 in which sales continue to grow at a double digit pace. 

In terms of condominium apartment and townhouse sales, a total of 466 units were sold in January 2014. This represents a 33 percent increase when compared to January of the previous year. While the single-family sector also saw an increase with 974 homes sold, these figures represent only a 11 percent increase when compared to the previous year. 

According to Calgary real estate experts, those consumers who were looking for a more affordable housing option were turning more frequently to the condo market. In keeping with this trend, the condo market was the only sector to record growth in new listings when compared to January 2013. Despite the fact that an improvement in listings helped to reduce some of the tightness that Calgary has been experiencing within the condo market, conditions still remain in the seller's favor. 

In total, new listings within the condominium apartment and townhouse market reached 809 units in January 2014. This represents a combined increase of 6 percent. The single-family sector, on the other hand, experienced an eight percent decrease when comaring year-over-year figures. Overall, market conditions with less than two months of supply available. 

Prices also continue to rise within the Calgary market, with figures reaching beyond expected levels. For single-family homes, the benchmark price was set at 0.95 percent above the previous month and at a 9.1 percent increase overt the previous year reaching $476,700. 

The number of lower price single-family homes available on the market also continued to fall in January, which resulted in a shift in sales distribution. In January, 29 percent of single-family homes sold fell between $400,000 and $4999,000. In January of 2013, the largest percent of sales took place within the $300,000 to $399,000 range. Condominium apartment prices totaled $280,600 in January 2014, while condominium townhouses were priced at $308,1000.

In terms of price growth, the townhouse market experienced more than 8 percent growth while the apartment sector grew by 12 percent. Year-over-year condominium apartment price gains reached double digits while unadjusted benchmark prices were still 5.5 percent lower than the record highs that were previously recorded. 

via:http://www.calgarylistings.com/blog/calgary-real-estate-january-2014-monthly-housing-statistics/