The Calgary Real Estate Board has released their summary of what went on in the market last month. It's always interesting to see what happens in the first month of the year, because it sets the tone for the next eleven months. If January 2022 is any indication, it's going to be another incredible month for Calgary real estate!
The following are some of the highlights from their report, which you can read in full by clicking here.
- "Thanks to persistently strong sales, inventory levels in the city eased to 2,620 units, the lowest levels seen since 2006. This caused the months of supply to remain exceptionally low for this time of year at 1.3 months."
- "The unadjusted benchmark price in January reached $472,300, a monthly gain of nearly two per cent and a year-over-year gain of 12 per cent."
- "There were 2,009 sales in January... at the same time, 2,476 new listings came onto the market, resulting in a sales-to-new-listings ratio of 81 per cent."
Calgary Real Estate Board Chief Economist Ann-Marie Lurie writes, "expected gains in lending rates are contributing to persistently strong demand in the housing market, as purchasers are eager to get ahead of any increases. We did see more listings this month, but it did little to change the market balance or take any pressure off prices. This was expected, as these conditions should persist for several more months.”
Are you ready to make your move? Contact Team Ken Richter today at 403-630-6363 or email Ken@KenRichter.com
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