Calgary Real Estate Year in review 2012

January 2013

Rod Forsythe’s Year end Calgary Real Estate Report for 2012

Calgary’s real estate market is getting back to normal and property sales over $1,000,000.00 were the stars of the year. There were 544 transactions in Calgary this year that sold for more than a million dollars compared to 446 sales in 2011 and 462  unit sales in 2007. Inventory today sits at about 2700 properties; this is a low amount of inventory for the beginning of any year. The average price for a single family home in 2012 ended up at $481,236 up about 3.1% from 2011; the average condo price is $284,702 up from 271,538 in 2011.

Country residential property sales picked up this year with a total of 873 sales compared to 676 in 2011. The interesting statistic about the country market is that the average price went down from $816,655 in 2011 to $793,053 in 2012. The average days on market remained at about 105 days for both years.

Looking at the big picture Calgary has improved since 2008; with net migration happening in Alberta again, the new mortgage rules pertaining to the amortization, the price of oil and gas and the fact that 20% more properties sold for more than a million dollars in 2012 than 2011. It seems as if this market will be around for a while yet.  

If you’re thinking about buying or selling the market is as good as it has been in 4 or 5 years. The activity in unit sales rivals that of 2004 and buyers are starting to ring our phones again. Timing might be perfect to move across the market, move up in this market or sell your home and buy a place in BC or the U.S.A.  

 The following are MLS sales and the average sale prices for all properties in Calgary in the past few years.

2012 — 21,207, $428,655   2011 — 18,496, $414,391

2010 — 17,218, $409,885   2009 — 20,669, $394,064

2008 — 19,084, $413,293   2007 — 26,611, $423,770

2006 — 27,426, $358,326   2005 — 26,833, $256,327

2004 — 22,842, $227,269   2003 — 21,062, $215,838

2002 — 21,544, $203,203   2001 — 19,535, $186,586

2000 — 17,211, $180,420   Source: Calgary Real Estate Board

“The best way to have the last word is to apologize”

Anonymous

 

Wishing all a magnificent 2013

 Rod Forsythe

Keller Williams Real Estate  

email rod@rodforsythe.com //tel. 403.777.1040