Here are the highlights from The Calgary Real Estate Board's market report for January 2024, which you can read in full by clicking here:
- "January sales rose to 1,650 units, a significant gain over last year's levels" (Calgary Real Estate Board).
- "[There were] new listings totaling 2,137 units in January. New listings rose for homes priced above $300,000, but the largest gains occurred for homes priced above $700,000" (Calgary Real Estate Board).
- "With 2,150 units in inventory, levels are near the January record lows set in 2006 and are nearly 49 per cent below the long-term average for the month" (Calgary Real Estate Board).
- "The months of supply in January was 1.3 months" (Calgary Real Estate Board).
- "The unadjusted benchmark price in January reached $572,300, a gain over last month and ten per cent higher than levels reported last January" (Calgary Real Estate Board).
Calgary Real Estate Board Chief Economist Ann-Marie Lurie says, "supply challenges have been a persistent problem since last year. This month's gain in new listings has helped provide options to potential purchasers, supporting sales growth. However, the growth in sales prevented any significant adjustments in supply, keeping conditions tight and supporting further price growth."
Are you ready to make your move? Contact Ken Richter directly today at 403-630-6363 or email Ken@KenRichter.com.
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