Sales for Metro Calgary in all categories are up 13% from March 2013 and up 7.3% from April 2012. Inventory is down 17.2% and the median price for all categories are down .8% from March 2013 to $399,900.
Single family sales are up 9% from March 2013 while the median price is virtually unchanged at $449,900. Single family Inventory is substantially lower than previous years and sits at 2977. Very low for a population of 1.1+ million people. We expect inventory to increase dramatically over the next next few weeks possibly by 10% or more.
Median prices for apartment condo's have actually gone down since March and currently sits at $255,500. Most likely from the increase of inventory by 9.4%. Compared to April 2012 median prices have risen 4.3%.
The median price of townhouse condo have also gone down since March 2013 to $296,000, a drop of 1.6%. Inventory over the same period increased 7%. The median price has also decreased from April 2013 by 1.1%.
Expect downward price pressure if inventory increases a lot but if sales can keep up prices may hold there own. I would not expect prices will get any higher from this point on except for possibly the odd blip.
