Calgary, Canada, May 08, 2014 --(PR.com
)-- As Spring begins in Calgary, the real estate market is experiencing an increase in new listings and price gains for the city. Calgary Urban Living announces the overall numbers for the month of April.
Both the condo and single-family sectors witnessed gains over April. New listings totalled 3,754 properties, which increased 8% compared to the last year. Total sales rang in at 2,545 over the past month, which is a 7% increase from April 2013.
The Calgary condo market in the city remains at a steady increase in listings and price gains for the year, while the single-family market is just starting to heat up now.
Calgary Real Estate Board (CREB) President Bill Kirk stated, “Throughout 2014, the condominium apartment market has recorded new listing gains, while until April, the single-family sector saw a reduction in new listings.”
The condo market in Calgary continues to be on the rise with a year-over-year sales growth of 4.7% and an 11.2% increase in new listings. The condo market is the only sector that witnessed an annual growth in inventory, which is partially due to new condo options being made available for buyers.
CREB’s Chief Economist Anne-Marie Lurie explained that more selection in the Calgary condo market is great news for buyers.
“Many consumers are interested in entering the market, but the lack of choice poses challenges,” said Kirk. “While we are still early in the season, if this trend continues, it should provide more opportunities for consumers who have been unsuccessful with finding properties.”
The benchmark price for apartment condos in the city over April was $291,700, while townhouse condos totaled at $316,700.
The month of April brought good news to the Calgary real estate market and, according to Lurie, the city will continue to see gains in new listings, which will help relieve some tightness in the industry.
For more information on the market report, or if you are looking to buy or sell a Calgary condo, please contact CIR Realtor Karim Hassam at 403-689-9594 or at firstname.lastname@example.org.
Information provided is based on general trends. Please contact your realtor for information regarding your specific situation.