RESALE BALANCE SHIFTS TO SELLERS
April sales rise nearly 31 per cent
Sales of single-family resale homes soared nearly 31 per cent in April compared to the same month last year as the balance shifted to sellers, says the Calgary Real Estate Board.
There were 1,582 in April, up 30.64 per cent from 1,211, it says.
But while the balance between demand and supply in the single-family housing market has shifted toward sellers, there are several components that make today’s market different from five years ago, says board president Bob Jablonski in a news release.
“The main difference is there is still significant supply for consumers in surrounding towns and the condominium market in the city, and the new home builders do have the ability to absorb some of the excess demand,” he says.
Between April 2011 and last month, the number of active listings declined 19.09 per cent, says the board.
At the same time, the average resale price climbed only 0.88 per cent.
The board’s Zone A — which roughly consists of northwest Calgary — had 582 sales of singlefamily homes, outpacing the rest of the city. During this time, Coventry Hills led all communities in the zone with 43 sales in April.
Zone A was second in the city with an average resale value of $475,719.
The highest resale price in the city was in the board’s Zone C, which roughly covers southwest Calgary, with $612,515.
Zone C was also second in and an average price of $437,989.
Finishing fourth in both sales activity and average price was Zone B, which roughly covers the city’s northeast. sales in April at 447.
Zone D, which roughly consists of southeast Calgary, was third in sales and in average price last month.
It finished with 365 sales
Zone B tallied 193 sales at an average price of $292,124.