CALGARY - Single-family home sales in Calgary increased in June for the sixth consecutive month, even as the city’s once-heady buyer’s market lost significant steam.

The number of single-family homes and condominiums sold in Calgary in June notched double-digit percentage gains compared with a year ago, while average prices inched up from May.

“The good news is pricing remains relatively affordable,” said Bonnie Wegerich, president of the Calgary Real Estate Board.

A rise in demand combined with fewer listings has helped bring supply in balance with demand, she stated in CREB’s June report on MLS sales activity released Thursday.

The inventory turnover for single-family homes and condos in Calgary metro now sits at just over two months, Wegerich said, compared with January’s glut of 11 months of inventory.

Richard Cho, market analyst with Canada Mortgage and Housing Corp., said June’s increase in sales is positive.

“Overall, when we look at the market, it looks like there are more signs the market is moving closer toward balanced conditions,” he said.

Year-over-year price declines and low mortgage rates have enticed many buyers, Cho added.

The move toward more balance conditions will help both buyers and sellers, he said.

According to the real estate board, MLS sales activity of single-family homes in the Calgary metro area hit 1,837 in June, up 28 per cent from a year ago.

June’s figure is also 16 per cent higher than a month earlier, when May sales numbered 1,584.

The average price for a single-family home was $447,142, down six per cent from a year ago, but an improvement of two per cent on a month-to-month basis. In May, the average price of a single-family home was $436,427.

The median price was $399,000, off two per cent from last year but up two per cent from May’s $390,000.

New single-family listings for the month of June hit 2,244, a 19 per cent decrease from last year and flat from May’s 2,235.

Condominium sales in June numbered 738, up 33 per cent from last year.

Condo sales also gained 13 per cent from May, when 653 transactions were recorded.

The average price of a Calgary condo was $285,595, nine per cent less than a year ago. However, the amount was up four per cent from May, when the average price was $275,212.

The median price for a condo was $265,500, off six per cent from a year ago but up four per cent from May’s $255,000.

New condo listings in June were 927, down 25 per cent from last year and off seven per cent from May’s 998 listings.

The real estate board is encouraged by the upward trend in sales, Wegerich said.

“But there are still some economic fundamentals needed before we will see a full recovery in the housing market,” she said.