The Calgary condo market saw increases in both the number of sales and prices in the month of May.

According to the Calgary Real Estate Board, there were 363 sales of condo apartments from the start of the month until May 28. This is up 5.22 per cent from the same period last year. The median price of a condo apartment in the city rose from $250,000 in May 2012, to $260,000, which is a four per cent rise.

This rise comes with a decrease in condo supply throughout the city. There was decline in active listings, from 1,251 in May 2012, to 927 in May 2013, down 25.9 per cent. As a result, condos are spending less days on the market – 34 this year compared to 49 days in May 2012.

The rise in sales and prices in May is in step with Calgary condo market trends this year. For the first five months of the year, there has been a steady increase in sales and the median price of condo apartments in the city.