Job growth lifted Calgary's residential real estate sector in October as single-family and condominiums sales saw gains.
The Calgary Real Estate Board said Tuesday that last month's 988 single-family sales were up 11 per cent over October 2010 but "continue to remain well below historical levels." Condo sales jumped 20 per cent to 368 units.
The average sale price for a singlefamily home was up by 2.35 per cent year-over-year to $455,399 while the condo average dropped by 1.70 per cent to $282,903.
"A boost in full-time jobs throughout the year is gradually translating into improved sales in the real estate sector," said Sano Stante, CREB president. "Consumers are taking advantage of price stability and a healthy variety of selection. While these gains are moderate, we are set to outpace 2010 sales."
Year-to-date sales in the singlefamily sector are up about 10 per cent over 2010. Condo sales are up three per cent overall.
"Consumers are feeling more confident about the local real estate market," said Stante.
The average MLS sale price for a single-family home in Calgary peaked this year in May at $489,482 while for condos the peak was $299,508 in September.
Provided by: http://www.calgaryherald.com/business/Calgary+sales+increase+October/5639900/story.html#ixzz1cfNB14nS