Tight Market Conditions Support Upward Price Trend
The flood that devastated the Calgary area on June 20 likely contributed to pulling forward sales activity. Some of this activity is related to the displaced renters and owners seeking other accommodations. Those consumers already searching for a home may have sped up their purchase decision, in response to concerns regarding the impact tight supply levels would have on prices.
The detached benchmark price for July is $524,900 an increase of 9.68% year-over-year. The apartment benchmark price is $267,600 an increase of 8.08% and the attached benchmark price is $294,500 an increase of 6.16%. Overall sales for the month totaled 2,268 units, compared with 1,932 during the same period last year.
Call Jeff Campbell 403-275-3331