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Market Update June 2015

Posted by Jeff Campbell on Tuesday, June 2nd, 2015 at 4:34pm.

The market moves toward balanced conditions as Calgary housing prices change direction in May. Two measures of a balanced market are the months of supply and the sales to new listings ratio. In May, the months of supply decreased to 2.43, while the sales to new listings ratio was 69 per cent, both within the norms for balanced conditions.

For the first time since December 2014, Calgary's residential unadjusted benchmark prices improved over the previous month. Calgary housing prices totaled $454,100 in May with a monthly increase of 0.55% and 0.96% for year-over-year.

For the third month in a row, new listings have eased compared to last year helping push the market toward a more balanced condition.
 
The detached benchmark price for May is $512,800 a 0.89% increase year-over-year. The apartment benchmark price is $294,800 a decrease of 0.20% and the attached benchmark price is $354,000 up 1.78%. Overall sales for the month totaled 2,190 units, compared with 2,938 during the same period last year.  sales for the month totaled 166 units, compared with 197 during the same period last year.   


Airdrie's market moves towards more balanced conditions. Two measures of a balance market are the months of supply and the sales to new listings ratio. In May, the months of supply decreased to 2.41, while the sales to new listings ratio was 68 per cent, both within the norms for balanced conditions.

Airdrie's inventory drops 1 to 370, sales climb to 153 in May from 138 in April. The benchmark price for May is $375,300 up $13,800 from last year. Overall sales for the month totaled 153 units, compared with 197 during the same period last year.


Call Jeff Campbell 403-275-3331

Email Jeff@JeffCampbellTeam.com

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