Home Prices Remained Stable in May!
Fueled by the detached sector Calgary home prices trended up for the fourth consecutive month but remain below the 2014 highs. Improved demand and easing supply has created more balanced conditions and ultimately some modest price gains. It will still take some time for prices to recover the transition in the detached segment is an important first step to stabilization across all segments of the housing market.
The detached benchmark price for May is $509,000 an increase of 1.07% year-over-year. The apartment benchmark price is $271,200 a decrease of 2.90% and the attached benchmark price is $333,900 an increase of 0.15%. Overall sales for the month totaled 2,119 units, compared with 1,920 during the same period last year.
The City of Calgary home market has 3.11 months of inventory and the sales to new listings are at 53.74%, meaning 46.26% of homes are not selling. The sale price to list price ratio is 97.42% and 42 days on market.
Airdrie’s inventory increased to 482 from 401 units, sales increased by 17 to 146 for May. The benchmark price for May $360,700 an increase of $4,200 from last month. Overall sales for the month totaled 146 units, compared with 145 during the same period last year.
The City of Airdrie home market has 3.30 months of inventory and the sales to new listings are at 55.73%, meaning 44.27% of homes are not selling. The sale price to list price ratio is 98.00% and 40 days on market.
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For the complete Calgary May 2017 CREB® report, Click Here
For the complete Regional May 2017 CREB® report, Click Here
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