CALGARY -- The Calgary Real Estate Board says last month set a new record for sales activity as 4,107 homes changed hands.

The Alberta board says those sales amounted to a 41 per cent increase from the 2,903 homes sold last March and made it the second month in a row that a new record was set.

New listings for the month totalled 5,485, up about 23 per cent from 4,440 last March.

The average price also climbed to $538,283, a roughly six per cent jump from $505,459 during the same month the year before.

The board warned that while the year started strongly, price gains and rising lending rates are expected to weigh on demand in the second half of this year.

The board suspects persistently tight conditions will likely continue to impact the market over the next several months.