Every month we post a summary of what happened in the Calgary real estate market in the month previous. These housing statistics come from CREB®, the Calgary Real Estate Board. CREB® is dedicated to providing sellers, buyers, investors and renters information they need to be successful in the real estate market. Just like us, their mission is to equip and inform consumers.
There is a reason why reading through the market summaries are important. When you are entering the market you need to know what you are getting yourself into. Being informed allows you to make wise, calculated decisions that will benefit you. Remember that the market is always changing; be flexible and stay on top of things.
The Calgary Real Estate Board is a great resource, but so are we! When you work with Ken Richter you have access to our entire team, all dedicated to giving you 100% client satisfaction. Ken Richter is recognized as a REALTOR® with integrity and total client transparency; you can trust his advice. Contact Team Ken Richter today and receive service nothing less than 10/10 on the Scale of Excellence.
Without further ado, here is a summary of what happened in July in the Calgary Real Estate market:
Sales have continued to grow, though not at the rate they normally do. In fact, CREB® recorded a decreased number of transactions. This, paired with new homes coming on the market, bumped up levels of inventory.
CREB® president David P. Brown reported, “sales growth exceeded expectations so far this year. Clients were re-entering the market after delaying decisions until there were some signs of economic improvement. However, this recovery will require patience. There continues to be many new and resale ownership options available. This reduces the sense of the urgency for many consumers.”
As the economy has begun its slow but steady recovery, prices on properties are on the rise. The price gains that were made were seen mostly in the detached and attached home sector, where city-wide benchmark prices edged up to $512,100. Apartments are in oversupply, but those that did sell where located mainly in the city-center.
For more information, visit www.creb.com.
Your Real Estate Professional,