Rod Forsythe’s Calgary Real Estate market Update for April 2013
Calgary’s residential real estate market was more seller focused this March with 20% fewer listings available than in of March 2012. A lack of inventory tends to create a busier looking market than it actually is. Market conditions are a far cry from activity witnessed throughout the frenzy in 2006 and 2007, in fact unit sales in Calgary are still trending under the 10 year average. Homes under $500,000 are in limited supply and with the Spring in full bloom people just need to be a little patient for new listings to show up. The Luxury market in Calgary has had a hand in price increases; the plus $800,000 market is up in unit sales by a staggering 28% over this time last year. In Calgary with the snow finally leaving the ground the Spring inventory will continue to increase. April has already seen a 14% increase in new listings compared to last April. Average price increase year over year in the total Calgary real Estate Market stands at a 6.09% increase over the 2012 average price.
Managing Partner // The Forsythe Group
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