It has been a busy season for Calgary Real Estate! After the hit the market took in 2020 following the outbreak of COVID-19, experts were weary of how the economy and real estate sector would recover. However, expectations have been completely blown out of the water this past spring and into the summer. While the rush is cooling off, numbers are still strong!
Here are some highlights from the Calgary Real Estate Board’s report, which you can read in full by clicking here:
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“July sales totaled 2,319 units, which is well above long-term averages and the best July on record. The pace of sales growth has eased over the past few months, but so too has the pace of new listings growth. This has helped prevent any further monthly gains in inventory levels, and while overall supply remains slightly higher than last July, it’s mostly due to gains in apartment and row product.”
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“With 6,678 units in inventory in July, the months of supply rose to just under three months.”
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“Benchmark prices in the city reached $460,100, slightly higher than last month and nearly 10 per cent higher than last July.”
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CREB® chief economist Ann-Marie Lurie says, “over the past several months, we have seen housing market conditions trend toward more balanced conditions. This eased some of the upward pressure on prices, as prices are starting to stabilize following steep gains that occurred in the first half of the year.”
The bottom line? Now is a great time to be selling, buying, or investing. Calgary is the comeback kid! If you’re ready to make a move, or even interested in a preliminary discussion, contact Ken directly at 403-630-6363.
Ken Richter has been a trusted name in real estate for 35+ years. As a native Calgarian, Ken has seen the city evolve and knows the ins and outs of each neighborhood. Whether you're looking for a riverfront luxury home along the beautiful Bow River, a modern infill in a redeveloping community, a trendy condo in the inner city, or a single-family property in the suburbs that meets your family's unique needs, Team Ken Richter can assist you.
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