Calgary house prices and sales rise in September

Calgary is showing solid numbers are the in-migration continues. Almost 40% of people moving to Alberta move to Calgary.

CALGARY — Calgary house prices and sales rose in September compared with a year ago, according to the Canadian Real Estate Association.

In releasing its monthly data on Monday, CREA said MLS residential sales in Calgary reached 1,789 units in September, up 11.4 per cent from September 2010 while the average sale price rose by 1.3 per cent on an annual basis to $406,252.

Year-over-year in Alberta, sales rose by 9.7 per cent to 4,316 units while the average price increased by 3.0 per cent to $359,637.

Nationally, MLS sales of 37,760 were up 11.0 per cent from September 2010 and the average price rose by 6.5 per cent to $352,581.

“Canada’s housing market remains stable amid continuing financial market volatility, contributing to Canadians’ confidence in the economy and providing support for Canadian economic growth,” said Gregory Klump, CREA’s chief economist, in a statement. “Interest rates are expected to remain low for longer, and evidence suggests that recent changes to mortgage regulations are preventing the kind of excesses they were designed to avert. Both of these developments are good news for the housing market.”

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