Too soon to see any impact that flood would have on resale activity

City of Calgary monthly residential sales totaled 2,317, a six per cent increase over June 2012 figures, and nearly five per cent higher than levels recorded in the first half of 2012. However, the
impact of recent flooding is expected to trickle into the housing statistics over coming months.

Calgary homes changed hands at a brisk pace in June, according to statistics mostly reflecting pre-flood market conditions.

The month leading up to Calgary's flood disaster saw 2,317 sales in the city, a six per cent increase from June 2012.

Situated just 25 minutes east of Calgary, Strathmore's roots harken back to the earliest days of the province.

Back on July 28, 1883, when Canadian Pacific was laying the foundations for the nation, crews laid a record-setting 10.2 kilometres of track, ending at the south side of the then-unnamed hamlet.

It will take some time to determine the full impact of Alberta's worst flood ever on the housing market, however, recent history suggests property values in affected areas in the city of Calgary will not take a long-term hit.

Although estimates are difficult until the extent of the damage is revealed, this year's flooding saw far more damage than seen in 2005.

Calgary, June 3, 2013 – City of Calgary residential monthly sales improved over the previous year, mostly driven by increased demand in the condominium market.

Sales activity in all categories totalled 2,544 units for the month, a seven per cent increase over May 2012 figures.

While May brought plenty of falling rain to Calgary, sales in the city's real estate industry were headed solidly in the other direction.

Driven in part by an increased demand in the condominium market, Calgary residential monthly sales improved over the previous year in May, exceeding expectations, although slowing from 2012's double digits.

The benchmark price for a single- family home in Calgary has increased beyond peak numbers seen in 2007, reaching a new high of $452,900 in April.

Single-family sales in the city totalled 1,611 in April, nearly two per cent higher than April 2012 while yearto- date figures are similar to levels recorded in 2012. While sales growth in the first part of this year was stifled by a shortage of new listings and inventory, the year-over-year 6.2 per cent increase in new listings helped support sales growth in April.