January Record Set for the Average Sale Price in Calgary's Housing Market

Both housing prices and sales went up during January this year with the average selling price up by 12.74 % over last January's figures. The average sales price for a Calgary single-family home was $496,579.

In the single-family Calgary real estate market, this was the 5th highest price ever seen in any month. In July 2007 the peak was hit with a price tag for single-family homes sitting at $506,670.

There was moderate growth in pricing in Calgary last year as Alberta as a whole showed that it's the province that’s rich in commodities that can hold its own in the real estate market. It's important to remember, still, that in the luxury market a record number of homes were sold last year that were selling for $1 million or more. This definitely had some effect on the average pricing number for homes sold.

January sales for condominium apartments

There was a 13.97% hike in the number of condo apartment sales during January this year when compared with last year's sales with a total of 204 passing hands. The average price for a condo went up to $280,273 which was a rise of 13.09% over last January.

Taking a look at the townhouse category

According to the CREB, total sales figures for the MLS listings in Calgary in January were up 15.17% to 1,230 when compared to last January's sales. The average sale price for these MLS units rose to $439,671 which was a 12.34% growth. The highest average selling price for the MLS listings during any January was $413,271, which was found back in 2008.

While it is looked that Calgary will see modest growth during 2013 both in the city and on the outskirts, there are a number of different factors that may affect the real estate market. It's possible that 2013 will surpass expectations for growth, but even if things remain modest, the market is expected to remain positive for the upcoming year.

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
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