Calgary’s real estate market appears to be on the road to recovery.

In its annual forecast released Tuesday, the Calgary Real Estate Board said local housing inventory levels are expected to stabilize, which will result in an eventual return to a more balanced and sustainable market.

Specifically, CREB forecasts single-family home sales to increase by nearly 20 per cent and condominium sales to rise nearly 16 per cent.

Single-family home sales were the lowest in more than a decade last year and CREB President Sano Stante much of this year’s rise will be attributed to recovery.

"We have been hit fairly dramatically in the last year, so 20 per cent is really relative to the drop we have had in the last year," he said.

According to the forecast, home-sellers will likely see an increase in value toward the second half of this year and environmentally friendly homes in "walkable" communities will be hot commodities.

As well, CREB believes the average MLS sale price will jump more than four per cent and sale numbers for towns in the Calgary area will rise 13.5 per cent.