December Sales Activity Rises, So Does Supply!
Sales activity for all product types improved in December and pushed monthly sales to long-term averages for the second month in a row. However, new listings also rose keeping inventory elevated compared to typical levels for December. With more supply remaining compared to sales, this is creating some of the bumpiness in terms of price recovery.
The detached benchmark price for December is $499,600 an increase of 0.14% year-over-year. The apartment benchmark price is $257,700 a decrease of 3.30% and the attached benchmark price is $330,100 an increase of 0.21%. Overall sales for the month totalled 1,006 units, compared with 926 during the same period last year.
The City of Calgary home market has 4.29 months of inventory and the sales to new listings are at 55.32%, meaning 44.68% of homes are not selling. The sale price to list price ratio is 97.07% and 58 days on market.
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For the complete Calgary December 2017 CREB® report, Click Here
For the complete Regional December 2017 CREB® report, Click Here
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