Calgary continues to experience positive trends in home sales for the month of October. Sales are up by 5.54% compared to last month and 9.62% year over year, driven mostly by the increase in sales of the Attached and Apartment/Condo markets.
We see a decline in inventory at 6,493 units this October. This number is almost 12% below compared to last year. With this decrease in inventory and a surge in homes being sold, the months of supply in the market is down to 4 months.
The market still favors buyers due to declining prices year over year in all categories.
Citywide benchmark price is $422,900, which is 2.17% below from last year’s price. Ann-Marie Lurie - CREB® chief economist said, “Employment has shifted in the city, with job growth occurring in our non-traditional sectors and often at a different pay scale. This is consistent with the shift to more affordable housing product”.
For more details, click here to read the entire report from CREB.
To learn more on how you can get your own customized email newsletter with these easy-to-follow infographics, please visit our Email Newsletter page. Or, if you want to get our custom-made, visual market reports for Calgary and its communities, please check out our Reports page.
