2013 CREB Housing Forecast and Price Predictions

 

Last week I had the opportunity to attend the Calgary Real Estate Board's annual Forecast Conference and Tradeshow along with many of my fellow Calgary Realtors. 
 
In summary, this is what the numbers look like:
 
Condo Market - Apartment Style
 
Total sales of apartment style condos increased by 12% in 2012 (compared to 2011), and the average apartment benchmark price increased by 2.2% to $244,992. Sales are expected to increase by 3% in 2013 with a moderate price appreciation of 2.4%. 
 
Condo Market - Townhouses
 
Total sales of townhouse style condos increased by 16% in 2012 (compared to 2011), and the average townhouse benchmark price increased by 2.7% to $277,167. Sales are expected to increase by 3% in 2013 with a moderate price appreciation of 2.8%. 
 
Single Family Market
 
There was a nearly 15% increase in the number of sales in 2012 (compared to 2011) and the benchmark price averaged $424,708 which was a 6.7% increase over 2011. For 2013, sales are expected to increase at a moderate pace of 1.8% and prices are estimated to rise by 3% for an annual benchmark average of $437,449. 
 
If you enjoy stats and graphs, check out the full 2013 Economic Outlook & Calgary Regional Housing Market Forecast
 
Read CREB's media release of the event. 
 
You can also read the Calgary Herald's post regarding the 2013 Forecast.  
 
If you are wondering how these numbers will affect you in terms of buying or selling in 2013, please contact me and I would be happy to answer your questions!
 
 

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