Adil Thobani // 403-861-5656 // adil@adilthobani.com

Cooling oil market doesn't halt rising Calgary real estate prices

Calgary resale housing market prices and sales continue to climb

Realtor Julie Dempsey stands outside one of her listings in the Lindsay Park Place building in the Mission area of Calgary on July 10, 2014.

Realtor Julie Dempsey stands outside one of her listings in the Lindsay Park Place building in the Mission area of Calgary on July 10, 2014.


Gavin Young Gavin Young / Calgary Herald
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Home sales stayed strong in November, rising 3.4 per cent from a year earlier, according to Calgary Real Estate Board data.

 

The median MLS sale price increased 5.3 per cent to $429,000, while the average sale price was up 6.1 per cent to $485,962, it said.

 

“It was a relatively strong month when we look at sales, listings, inventories. But definitely one that’s moderating,” said Ann-Marie Lurie, CREB’s chief economist. “We’re seeing a return to more balanced conditions and that’s easing some of the pressure on price growth, which is actually a good sign for Calgary’s market.”

 

In the single-family market, MLS sales last month dropped one per cent to 1,181 transactions, although the average price gained 8.7 per cent to $560,117. The median price rose by 5 per cent to $478,000. Condo apartment sales increased 6.9 per cent to 324. The median price was up by 7.4 per cent to $290,000 and the average price rose 4.9 per cent to $322,486.

 

Sales in the condo townhouse market increased 21.5 per cent, while the median price was up by 6.4 per cent to $331,000 and the average price rose by 0.7 per cent to $361,013.

 

Towns surrounding Calgary saw sales jump 15.5 per cent. The median price was up by 3.8 per cent to $383,000 but the average price dropped by 0.4 per cent to $391,155.

 

mtoneguzzi@calgaryherald.com

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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.