Calgary, Jan. 16, 2013 – The resale housing market in Calgary and area will see moderate sales and house price growth in 2013, CREB® said today at its annual forecast.

Sales growth in the city is expected to ease to 2.2 per cent this year, with house prices rising by 2.9 per cent.

“Slower growth trends in employment combined with lower migration estimates will impact sales growth across all resale sectors, and, as listings continue to decline, this will further dampen sales growth, particularly in the single-family market,” Ann-Marie Lurie, CREB®’s chief economist, said at the 2013 CREB® Forecast Conference & Tradeshow. “However, as the overall market remains well supplied, prices will continue to grow but not at the levels seen in 2012.”

In 2012, Calgary’s single-family market recorded sales growth of nearly 15 per cent. With a decline in the level of new single-family listings, that is expected to ease to 1.8 per cent this year. Prices are estimated to rise by three per cent.

Becky Walters, president of CREB®’s 2013 board of directors, said the city and surrounding areas are seeing good resale activity.

“We have a nice, balanced market, and it’s expected to see some growth this year,” Walters said. “Although some big markets in Canada are stumbling, Calgary is hot on the heels of a year of recovery, with the forecast saying the market is going to stay in positive territory.”

In the condominium market, sales are expected to increase by three per cent, with a moderate price appreciation of 2.4 per cent for condo apartments and 2.8 per cent for condo townhouses.

Although the prediction is for a “balanced” resale housing market, Lurie said there are numerous risks in the market.

“The largest risk in our market is related to concerns in the oil sector,” she said. “They are facing pipeline constraints and lack of access to more diverse markets, impacting the price they receive for their oil. If the discounts on our oil persist, this clearly could impact the job sector and, ultimately, the housing market.”

Calgary MLS sales and average prices so far in August are higher than the same time last year.

From August 1 to August 19, there have been 1,004 MLS transactions in the city, up 0.70 per cent from the same period last year and the average sale price has risen by 1.07 per cent to $412,456.

In the single-family sector, sales of 692 are down 2.54 per cent from last year but the average sale price of $468,133 is up 2.37 per cent.

In the condo apartment category, the sales of 172 are the same as August 2011 but the average price has jumped by 6.76 per cent to $275,172.

And in the condo townhouse sector, the average sale price has dipped by 6.99 per cent to $305,913 but sales have increased by 21.74 per cent to 140.

The Calgary real estate market showcased remarkable stability and growth in April 2005, setting new records for listings and sales through the Multiple Listing Service (MLS®).

A record-breaking 4,226 residential listings entered the market, up slightly from 4,165 in March 2005 and 4,109 in April 2004. This included 3,056 single-family homes, 1,118 condominiums, and 52 mobile homes. Year-to-date, 15,325 residential listings have been recorded, reflecting a strong market supply.

Residential sales also reached unprecedented levels, with 3,216 units sold in April 2005, marking a 24.07% increase over April 2004 and an 8.39% rise from March 2005. Sales comprised 2,358 single-family homes, 844 condominiums, and 14 mobile homes. Year-to-date sales totaled 10,013 units, up from 8,816 during the same period in 2004.

The average combined residential sale price in April 2005 was $249,331, a 13.27% increase from April 2004 but slightly below March’s $250,285. Year-to-date, the average price stood at $246,535, compared to $220,405 last year. Single-family homes averaged $274,126, condominiums $183,528, and mobile homes $40,157. The median combined residential price was $221,500, up 0.68% from March and 9.11% from April 2004.

Calgary’s thriving market reflects its robust economy, bolstered by low interest rates and healthy in-migration. According to Calgary Real Estate Board President Marilyn Jones, these factors are driving sustained market strength.

With 4,705 licensed brokers and agents across 257 broker offices, the Calgary Real Estate Board continues to support this dynamic and growing market.