The inventory of active homes for sale in Calgary are the lowest March levels in more than five years. The decline in new listings hampered resale sales growth, which declined by more than two per cent in March compared to March 2012.

New listings in March are five per cent lower than levels recorded in 2012, and five per cent lower after the first quarter. The overall active listings stand at just 4,006 units, up from February's levels but well below the number available one year ago.

Spring has brought some fresh air to the home resale market in Calgary.

The inventory of active homes for sale in Calgary in March was the lowest level for the month in more than five years. Homes are selling quickly, but the decline in new listings also hampered resale sales growth.

Tightening market conditions are supporting price growth in Airdrie, Okotoks and Cochrane, although overall inventory levels of property remain healthy in areas surrounding Calgary.

Property sales in the surrounding areas totalled 865 units after the first quarter of the year, running at a similar pace to the same period in 2012. As in the entire region, the number of new listings has been falling at double-digit rates.

As Calgary is starting to see a tightening trend in the real estate market, some buyers are turning their attentions to surrounding areas for a place to call home.

While activity varied by area, overall property sales in the communities of Cochrane, Airdrie and Okotoks totaled 865 units in the first quarter of the year, similar to numbers seen from the same time in 2012.

Calgary Regional Housing Market Statistics: February 2013

Total residential sales for the month of February 2013 totaled 1,711 units, a one per cent decline over the previous year. Accounting for the leap year in 2012, activity in the single family market resembles last year's activity. However, even with one less day in the February 2013 figures, condominium sales have made significant gains increasing by 13 per cent relative to February 2012.

While affordable and luxury may not be the most closely connected words when it comes to purchasing a new home, the news that Calgary once again ranked as one of the most affordable markets in the country still has plenty of positive ramifications for high-end homebuyers and sellers.

Evidenced by the near-record pace at which properties over $1 million were snapped up in January, the news that Calgary homes – luxury and otherwise – offer good value shouldn't come as a surprise.

From the open spaces, to the views to the quiet of nature — acreage living provides a breath of fresh air for homeowners looking for country living with easy access to the city.

Whatever direction you travel away from the city, whether it be the mountains to the west; the foothills to the south, the lakes to the east or the rangelands to the north, there are acreage properties fitting for families looking for space for little ones to roam or couples looking for some peace and quiet.

With two kids, two cars and a dog, the Robsons are the image of the typical family.

Having purchased a larger home in the city's northwest to accommodate their growing family, the Robsons are typical in another way as well, as they're part of a growing number of Calgarians who are upgrading to bigger and more expensive homes.