The Big Picture!
Strong gains in the first-half of 2017 has put the Calgary year-to-date sales at 7 % above last years' levels. The recent rise in inventories is preventing further price recovery as sales activity has moderated over recent months.
In some segments, rising new home inventories are also impacting total housing supply. Ultimately, prices are affected. However, this inventory also opens up opportunity for buyers to step up into a home that was financially unattainable.
The detached benchmark price for September is $508,900 an increase of 1.11% year-over-year. The apartment benchmark price is $263,700 a decrease of 2.08% and the attached benchmark price is $336,000 an increase of 1.54%. Overall sales for the month totalled 1,462 units, compared with 1,479 during the same period last year.
The City of Calgary home market has 4.69 months of inventory and the sales to new listings are at 53.12%, meaning 46.88% of homes are not selling. The sale price to list price ratio is 97.46% and 42 days on market.
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For the complete Calgary September 2017 CREB® report, Click Here
For the complete Regional September 2017 CREB® report, Click Here
Call Jeff Campbell 403-275-3331