Residential sales activity in the Calgary area last month increased 11 per cent over the corresponding 2011 number, according to the Calgary Real Estate Board. It means that after the first three quarters of the year, residential sales within city limits totaled 17,018, a 15-per-cent increase over 2011.
“There has been significant discussion over the slowing national market,” said Bob Jablonski, CREB president. “However, Calgary is seeing improving sales activity and price growth with no indication that market is poised for a correction.
“In fact, for the first time in several years, the Calgary housing market is demonstrating typical behavior for this time of year.”
Single family sales activity is rising, even though new listings are steadily declining. The total number of active listings has slightly improved over August.
The slight increase, combined with slower unadjusted sales activity in September compared to August, helped push the months of supply into a balanced position, according to CREB.
It was one of the first regional boards to announce September numbers Monday.
Prices in Calgary have also improved, although appear to have reached their zenith – at least for the year.
As of September, the benchmark single family home price totaled $432,900. While this figure is eight-per-cent higher than levels recorded in September 2011, prices appear to have leveled off over the past three months, not considering any potential seasonal factors.
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