Here are the highlights from The Calgary Real Estate Board's market report for February 2024, which you can read in full by clicking here:
- "New listings continued to rise in February, reaching 2,711 units" (The Calgary Real Estate Board).
- "[Sales] increased by nearly 23 per cent compared to last year for a total of 2,135 units" (The Calgary Real Estate Board).
- "Low supply and higher sales caused the months of supply to fall to just over one month, nearly as tight as levels seen during the spring of last year" (The Calgary Real Estate Board).
- " The unadjusted detached benchmark price was $585,000" (The Calgary Real Estate Board).
- "[The] East district is experiencing the highest year-over-year price growth at 25 per cent, while the... City Centre has reported the slowest price growth in the city at under five per cent" (The Calgary Real Estate Board).
Calgary Real Estate Board Chief Economist Ann-Marie Lurie says, "Purchasers are acting quickly when new supply comes onto the market, preventing inventory growth in the market. It is this strong demand and low supply that continues to drive price gains in Calgary. The biggest supply challenge is for homes priced under $500,000, which saw inventories fall by 31 per cent compared to last February."
Are you ready to make your move? Contact Ken Richter directly today at 403-630-6363 or email Ken@KenRichter.com.
(Image via Canva)