Last month was the first time since September 2008 that we saw a year-over-year increase in the number of single family homes sold in Calgary.

The improvement and increased activity we've seen in recent months has increased. Prices are holding steady for the most part and inventory is decreasing gradually while sales pick up.

Both the re-sale condominium and re-sale single family home markets are in balanced conditions based on the pace of sales and the number of listings available with between 70 and 90 days of supply currently listed. This compares to a 258-275 day supply just six months ago (click the absorption rate chart to enlarge).

This can be good news for both home buyers and sellers. If you were nervous about dipping your toes into the market a few months ago when it seemed like nothing was selling, this should give you confidence that you're not the only one taking advantage of great rates and lower prices. If you're getting started as a buyer, order a free first time buyer guide or search all homes for sale in Calgary.

For sellers this increased pace of sales is making the process much more predictable and well priced homes are selling in a very reasonable period of time. If you're planning to sell, contact me to learn about my proven marketing plan or access my online home evaluation tools.