The Calgary Real Estate Board is on a mission to provide valuable market information and resources to buyers, sellers, investors and real estate professionals. They provide so much incredible content in an accessible manner, allowing everyone equal opportunity in understanding the sometimes chaotic world of real estate. They just released their summary of what happened in the real estate market in April. Here are some of the highlights from their report, which you can read in full by clicking here:
- "After four months of persistent gains, the total unadjusted benchmark price reached $550,800, nearly two per cent higher than last month and a new monthly record high for the city" (The Calgary Real Estate Board).
- "Sales reached 2,690 units compared to the 3,133 new listings. With a sales-to-new-listings ratio of 86 per cent, inventories declined by 34 per cent compared to last year and are over 45 per cent below long-term averages for April" (The Calgary Real Estate Board).
- "The steep decline in supply has caused the months of supply to ease to just over one month. This reflects tighter market conditions" (The Calgary Real Estate Board).
Calgary Real Estate Board Chief Economist Anne-Marie Lurie notes, "while sales activity is performing as expected, the steeper pullback in new listings has ensured that supply levels remain low. The limited supply choice is causing more buyers to place offers above the list price, contributing to the stronger than expected gains in home prices.”
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