Calgary Skyline by Brendan Bell
Calgary REALTORS® reported 2,204 existing home sales through the Calgary MLS® system in April 2012. This was an increase of 22 per cent compared to April 2011 when sales were 1752. Existing home sales have been strong from a historic perspective through the first four months of 2012. The pace of sales is expected to remain robust through the spring, as the economy expands and home buyers continue to benefit from affordable home ownership opportunities. Market conditions tightened markedly over the last year.
April 2012 sales accounted for 69 per cent of new listings during the month – up substantially from 54 per cent in April 2011. Tighter conditions resulted in the average selling price growing by one per cent annually to $483,280 for single family homes and $290,737 for condos. The number of listings has been below expectations so far this year. Increased competition between home buyers might lead to an accelerating annual rate of price growth.
