As we pass the 1st quarter of 2013 I’d like to reflect on the City of Calgary Market and provide some analysis for your reference. Overall we are exceeding and surpassing 2012 in many different categories, which would explain the increased activity we are seeing on the ground level. Compared to last year we currently have 4270 Active Listings (Single Family & Condos) which is considerably less than 5182 from 2012. Depending on who you talk to about 5500 listings is average for Calgary. The decrease in inventory has put increased pressure on prices which in turn has affected the inner city and properties located in close proximity to downtown, the most. As a result it is taking an average of 8 days less on the market to sell a home which is a great benefit to sellers. With this comes an increase median sale price, average sale price and # of total sales. What is driving this? Over 44,000 of new people who have moved to Calgary in the last few years, stable and low interest rates and pressure from increased monthly rent. So the question is, is this sustainable? Will the uncertainty of the pipeline approval, the current discounting of oil out of WSI and many layoffs on the horizon in the gas industry, have an effect on the real estate market? In my opinion yes, to what degree only time will tell. For more information and discussion you can call me anytime.