Calgary Real Estate Market Update for July 2014
– Double-digit listings growth surpasses that of sales in July –
July of 2014 saw a record number of sales for the month totalling 2,336 units; however, in a year-over-year comparison sales growth wasn’t as high in previous months at only 3.18 percent.
It is important to keep in mind that July of last year also saw a strong amount of sales so it may not seem like much growth, but it really is. The Calgary Real Estate Board (CREB®) reports July 2014 sales activity about 19 percent higher than the long-term average for the month.
New listings saw a double-digit year-over-year increase of their own at 18 percent totalling 3,219 units. An increase in new listings has also given way to more inventory, an increase of 14 percent year-over-year with 4,659 units.
Calgary Real Estate Market Single-Family Update
- $511,600 benchmark price, a bit higher than last month (May 2014) but 10.8 percent higher year over year
- 1,553 total units sold, a 1.3 percent decrease compared to July 2013 but an 8.3 percent increase since the beginning of the year.
- A decline in home sales of under $400,000 reflects the 1.3 percent year-over-year drop listed above.
More people are choosing to purchase townhome and condominium properties as an alternative to rising single-family home prices.
Calgary Real Estate Market Condo / Townhome Update
- 21 percent increase of sales in the condominium / apartment sector
- 11 percent increase in prices for the condominium / apartment sector
- $298,100 condominium benchmark price
- 19 percent increase of sales in the townhome sector
- $327,000 townhome benchmark price
More Market Updates
See our complete list of Calgary Real Estate Market Updates from the year 2012 and onward today.