The January Calgary Housing Statistics have been released, giving us a glimpse at what happened in the Calgary Real Estate Market in this first month of 2020. Here are some of the highlights as they pertain to all of our valued clients, whether you be a buyer, seller or investor. After all, knowledge is your best asset when it comes to making the most out of any market. As always remember that my experience is your advantage, which is why you need to partner with Team Ken Richter.
The Calgary Real Estate Board reports the following:
- "January sales activity was 863 units, nearly eight per cent higher than last year’s levels."
- "While sales remained well below January activity recorded before 2014, they remain consistent with activity recorded over the past five years."
- "Citywide unadjusted benchmark prices were $417,100 in January. This is slightly lower than the previous month and nearly one per cent lower than last year’s levels."
- "Benchmark prices eased, but there were some modest improvements in both the average and median prices. This is likely a reflection of some changes in the distribution of sales."
Calgary Real Estate Board chief economist Ann Marie Lurie adds, "a persistent slowdown in the energy sector has resulted in a reset in many aspects of our economy. This includes the housing market. We continue to see the slow adjustment to more balanced conditions, but it will take time before that starts to translate into price stability.”
The Calgary Real Estate Board is an incredible resource for understanding the housing market so that you can make strategic, informed decisions. To read their full January 2020 Housing Statistics report, click here. To visit their website where you can read more, including historic statistics, blogs on the market and special announcements, click here.
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