Photo: Brian G. Kennedy/Flickr
Year-over-year, Calgary home sales were up 10.22 per cent in October while the benchmark price climbed 9.51 per cent.
According to the Calgary Real Estate Board, a total of 2,147 homes changed hands across the Multiple Listing Service last month compared to 1,948 the same time last year. The benchmark price for all housing types, meanwhile, climbed from $420,700 in October 2013 to $460,700 in October 2014.
“Two consecutive years of relatively strong employment and population growth, combined with rising wages and low lending rates, have supported demand growth in our housing sector,” said CREB chief economist Ann-Marie Lurie.
Condo market leads the way
With a 14 per cent gain, the city’s condo sector recorded the largest year-over-year sales growth. October was the sixth consecutive month that condo sales have increased by double digits — due, in large part, to an increase in affordability. More than half of this year’s new listings have been priced below $300,000.
Townhome sales in Calgary were up nearly eight per cent year-over-year while the single-family home market climbed 9.68.
Prices also up across the board
The typical price of a single-family home climbed 9.72 per cent year-over-year to $513,500 in October, condos jumped 10.22 per cent to $299,800 and townhomes were up 9.75 per cent to $337,800.
See the full October statistics package here.