Calgary Home Sales in October still up from Last Year
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.
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