April 2011 Real Estate Stats Update

I personally wonder how much the weather dampened enthusiasm in April as many folks opted to seek a sun filled week away or hide inside rather than search for a new home. April was a slower month in 2011 than 2010 both in sales and new listings coming on market. Although the numbers are less, the balance of supply and demand has resulted in lower inventory levels and moderate growth in average prices. As prices are expected to slowly rise this year, we will see how buyers react to the opportunities of the spring market.
This month I posted some information about shopping for a mortgage. It is worth the read. As well, I posted some great resources for getting around calgary on transit and bikepaths.
Some notable numbers from the CREB Stats Package:
“We are seeing improvements in the sale of homes in the higher price points.  Homes above $700,000 are selling within an average of 41 days. This is consistent with pre-recession levels,” says Stante. 
The average price of single family homes in the City of Calgary in April 2011 was $479,575, a 4 per cent increase from April 2010 levels. Meanwhile, the median price of $420,000 rose by 1 per cent over levels recorded in April 2010.  The price differential comes as a result of high end home sales. In April 2011, two single family homes were sold in the price range of $3 million to $4 million, skewing up the monthly average price.
“Condominium listings declined 27 per cent in April, helping to offset a 16 per cent decrease in year-over-year sales. The decline in listings is significant and has helped place downward pressure on inventory levels. This will improve stability in condominiums and begin to move it towards a more balanced market,” says Stante.
Year-to-date condo sales were 1,883, a 13 per cent decline compared to the first four months of 2010.  The condominium average price for the month of April 2011 was $289,158, similar to the previous year when condominiums sold for an average of $289,588.  The median price for condominiums in the month of April 2011 was $260,000, down 3 per cent compared to the same time last year. 
I listed some great properties in the last couple of weeks. Check out details on my listing page.
As always, if you have any questions as you prepare to buy or sell your home, give me a call or send me an email anytime.
CREB Real Estate Statistics Package
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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
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