Wondering what is really happening right now with Calgary's home prices?
Price declines have not been as steep as those recorded during the last downturn despite weaker absorption rates for most of 2015. Residential benchmark prices have only recently started to decline due to the slower activity in the higher priced segments of the market which skews the average and median prices. High inventory levels in the Calgary residential resale housing market combined with weak sales contribute to a buyers’ market in November.
The detached benchmark price for November is $510,700 a decrease of 1.52 % year-over-year. The apartment benchmark price is $287,000 a decrease of 4.56% and the attached benchmark price is $352,400 a decrease of 1.45%. Overall sales for the month totaled 1,263 units, compared with 1,771 during the same period last year.
Airdrie’s inventory decreased to 330 from 350 units, sales decreased by 4 to 89 for November. The benchmark price for November is $367,900 a decrease of $8,000 from last year. Overall sales for the month totaled 89 units, compared with 117 during the same period last year.
Call Jeff Campbell 403-275-3331