CALGARY - Housing markets across the country are becoming more balanced with average prices continuing to rise as well as new listings, says the Canadian Real Estate Association.

The national association of realtors released today its February MLS numbers for Canada, showing sales up by 44 per cent from a year ago with new listings increasing by just over 10 per cent and the average sale price up 18.2 per cent to $335,655.

“There are still a number of major markets where sales negotiations favour the seller due to a shortage of inventory, but supply has begun rising. Further expected supply increases will continue to take the steam out of housing markets as the year progresses,” said Gregory Klump, CREA’s chief economist.

In Calgary, February sales of all properties rose by 37.4 per cent from last year to 1,913 and the average price was up by 5.2 per cent to $389,388. New listings increased by 10.6 per cent to 4,051 and the dollar volume in sales grew by 44.6 per cent to nearly $745 million.

Across Alberta, MLS sales rose by 26.3 per cent to 4,077, the average sale price was up by 5.1 per cent to $343,748, new listings increased by 3.6 per cent to 8,891 and total dollar volume reached just over $1.4 billion, up by 32.8 per cent.

Calgary saw an increase from the previous month when sales hit 1,466 units. But the average sale price was down from the $397,518 recorded in January.

The same held true provincially. In Alberta, MLS sales were 2,934 units in January and the average sale price was $343,264.

CREA said that on a national level sales activity has slowed while new listings continue to rise. The association said seasonally-adjusted national home sales, edged down 1.5 per cent from January.

According to CREA, seasonally adjusted national home sales edged down 1.5 per cent from January, based on declines in Vancouver and other British Columbia housing markets - perhaps because of the Olympic Winter Games.

Five consecutive monthly increases have lifted new listings 16.3 per cent above where they stood last September, when they had fallen to the lowest level since late 2005.