A decline in listings has resulted in a rise in Calgary condominium apartment sales.

Year-to-date sales totalled 2,823 units, up 13.7 per cent over the previous year, reports the Calgary Real Estate Board (CREB).

Overall, the level of transactions were above long-term trends for August. Last month saw a 27.5 per cent increase over 2012, and an 8.7 per cent increase on a year-to-date basis. But activity is only slightly higher than expectations.

“The sales have been limited by the need for more resale listings,” says CREB president, Becky Walters. “However, August did see more new listings than last year, giving buyers more choice.”

While seller’s market conditions persist and total inventory levels keep falling, improvement in new listings helped prevent further tightening in the market despite the sales growth.

Meanwhile, the condominium townhouse market saw strong sales growth and a rise in new listings, easing some tightness in this market. Year-to-date sales and new listings increased 21.4 and 2.6 per cent, respectively.