February is now behind us and we are getting into spring and spring fever is starting to set in as many people are starting to get the itch to move. Let’s hope that this trend will continue on in March as we saw our sales activity increase from January.

In February  we had a total of 825 Single Family sales in Metro Calgary and no significant price drop. The average price for a single family home in February was $415,658 with an average of 61 days on the market. Condominiums sale also picked up from our slow January and we saw 343 condominium sales in Metro Calgary. Condos spend an average of 51 days on the market and they fetched an average price of $268,970. Both residential and condominiums sold for an average of 95% of list price.

There was a total of 1,421 Sales recorded on the Calgary Real Estate Board’s MLS System. 1,013 of them were Single Family Homes, 370 Condominiums, 9 Mobile Homes, 32 Rural Properties with home and 7 Rural Land sales.

Our inventory continues to be high and the selection is good. Sellers that need to sell, must price their home competitive to attract the attention of buyers as buyers are looking for the best value. It will continue to be a buyer’s market and of Metro Calgary’s 1,168 sales, 820 of those sales were under $400,000. 284 Sales in the $400,000 to $600,000 price bracket. 43 Sales between $600,000 to $800,000. 23 Sales between $800,000 to $1,000,000. Only 14 Sales over $1,000,000.