The dramatic growth was lead by a surge in the single-family home category, according to the Calgary Real Estate Board.
Total residential MLS sales in the city for the month was 2,167 — that’s a 12.63 per cent rise from March 2011. The average MLS sale price increased too, up 3.69 per cent to $422,256.
The single-family market saw average sales prices the highest they’ve been since June 2011 — $472,464 – and overall sales up 17.26 per cent.
So what’s causing the sudden upswing?
“Sales in Calgary are forecast to rise above 2011 levels. With activity in the energy sector expected to continue moving forward, growth in employment, income and migration will support demand for housing,” said Richard Cho, a senior analyst from the Canada Mortgage and Housing Corp. to the Calgary Herald.
Christina Hagarty, a Calgary realtor with RE/MAX, pointed to similar factors and also noted the mild Winter may have motivated buyers sooner than previous years.
Whatever the reason, it’s great to see the market growing! You can check out the stats on the table below.