Here are the highlights from The Calgary Real Estate Board's market report for April 2024, which you can read in full by clicking here:
- "Sales in April rose by seven per cent compared to last year, to 2,881 units" (Calgary Real Estate Board).
- "Much of the growth in sales has occurred for relatively more affordable, higher-density products" (Calgary Real Estate Board).
- "there were 3,491 new listings in April, an 11 per cent gain over last year but only three per cent higher than long-term trends" (Calgary Real Estate Board).
- "[With] months of supply of less than one month, conditions continue to favour the seller, driving further price gains in the market" (Calgary Real Estate Board).
- "The unadjusted total residential benchmark price reached $603,700" (Calgary Real Estate Board).
Calgary Real Estate Board Chief Economist Ann-Marie Lurie says, "while supply levels are still declining, much of the decline has been driven by lower-priced homes. Homes priced below $500,000 have reported a 29 per cent decline. Meanwhile, we are seeing supply growth in homes priced above $700,000. Persistently high-interest rates are driving demand toward more affordable products in the market and, at the same time, driving listing growth for higher-priced properties.”
Are you ready to make your move? Contact Ken Richter directly today at 403-630-6363 or email Ken@KenRichter.com.
(Image via Canva)