Calgary MLS growth better than average

By Mario Toneguzzi, Calgary Herald

CALGARY — Year-over-year MLS sales growth in Calgary exceeded the Canadian average last month, the Canadian Real Estate Association said Thursday.  The organization said MLS sales of 2,113 units in Calgary was up 10 per cent from a year earlier, while Alberta sales of 4,476 units grew 13.5 per cent from 2011. Sales nationally rose by 8.6 per cent, compared with February 2011, and by 1.4 per cent over January.

“The resale market in Calgary continues to gain some momentum as we approach the spring and summer seasons,” said Richard Cho, of Calgary for Canada Mortgage and Housing Corp.  “With economic conditions improving and mortgage rates at favourable levels, prospective buyers have been active in the market.”

The average MLS sale price last month rose by 1.2 per cent, to $405,687, in Calgary and by 2.2 per cent, to $359,721, across Alberta.  Douglas Porter, deputy chief economist with BMO Capital Markets, said the Canadian housing market remains buoyant, “with an unseasonably mild winter likely adding some further juice to the mix.”

According to the Calgary Real Estate Board, MLS sales in Calgary so far this month are up 1.6 per cent compared with the same time period a year ago to 887 transactions and the average sale price has risen by 2.14 per cent to $415,093.  Ottawa-based CREA said about half of local markets recorded an increase in activity led by Calgary, Toronto and Montreal.


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