Single family home sales in the City of Calgary edged upwards month-over-month and showed the first year-over-year increase since April 2010.
The number of single family homes sales in the month of January 2011 were 791, compared with December 2010, when sales were 734 - an increase of about 8%. The number of condominium sales for the month of January 2011 was 302. This was down from the 320 condominium transactions recorded in December 2010.
The median price of a single family home in the city of Calgary for January 2011 was $390,000, showing a slight increase from December 2010 when the median price was $389,000. This is a 2% decrease from January 2010 when the median price was $398,000.
The median price for a condominium in January 2011 was $255,000 showing a 1% decrease from December 2010, when the median price was $258,500, and a 4% decrease from January 2010, when it was $265,000.
The recovery in 2011 will be incremental and gradual. Nonetheless, at the moment Calgary is offering buyers a great deal of affordability, low interest rates and a large selection of inventory.
Source: CREB(R)
