Resale pace increases
Sales of single-family resale homes in Calgary increased in November compared to the same month last year, eclipsing the Canadian average, says a national real estate group.
The local market saw 1,656 sales in November, an improvement of 16 per cent compared to 1,427 in the same month in 2010, says the Canadian Real Estate Association.
National totals for November hit 34,534, up five per cent from 32,898 for the same month last year.
Calgary’s resale dollar volume also saw an increase last month above national totals.
It experienced a 16.1-per-cent boost in November compared to the same month last year. Nationally, the increase was 9.8 per cent.
For the past 11 months, Calgary resale housing sales have been on an upward swing. Including November totals, Calgary residential sales are on pace for an eight-per-cent climb from 2010, with 17,538 homes changing hands, says the Calgary Real Estate Board.
“Despite any global economic cautions, consumers are actively seeking well priced listings in the market, a reflection of their positive long-term outlook for the city,” says board president Sano Stante in a news release. “Following two years of employment losses, the current growth in jobs is translating into improvements in the housing sector and a more optimistic consumer.”
Stable prices are providing an opportunity for buyers eyeing a home in Calgary, he says.
The report says the year-to-date average and median price of single-family homes were $467,140 and $406,500, respectively. The median is the middle of the range of market prices.