February Sales – Reviewed
Calgary, February 1, 2011 – Single family home sales in the City of Calgary edged upwards month-over-month and showed the first year-over- year increase since April 2010, according to figures released today by CREB® (Calgary Real Estate Board).
The number of single family home sales in the month of January 2011 were 787, compared with December 2010, when sales were 734- an increase of about 7 per cent. The number of condominium sales for the month of January 2011 was 297. This was down from the 320 condominium transactions recorded in December 2010.
Year-over-year, the number of single family homes sold in January 2011 in the city of Calgary increased by just over 3 per cent. In January 2010, single family home sales totaled 762. Condominium sales saw a decrease of 21 per cent from the same time a year ago. In January 2010, condominium sales were 376. “More affordable housing will continue to attract home buyers to the inner-city, particularly as employment in the city of Calgary continues to improve,” says Sano Stante, president of CREB®. “Single family homes in the city are currently driving this gradual recovery, and we are seeing an uptick in the sale of homes below the $350,000 price point. This may suggest more first time home buyers are entering the market, providing the fuel needed for a sustained housing recovery.”
