We have been happy to report good news month after month when it comes to the Calgary real estate market. This month is no different - great job, Calgary! This is why we have loved serving the city of Calgary for over thirty years. Each day is exciting and filled with possibility. Through every downturn and curveball, Calgary pushes on with tenacity!
The Calgary Real Estate Board has released their statistics summary. Here are some highlights from their report, which you can read in full by clicking here. The bottom line? The Calgary real estate market has seen the best sales in over a decade!
- "The initial impact of COVID-19 on the housing market began last March. One year later, it is not a surprise that March sales in 2021 were higher than in 2020. However, at 2,903 sales, this was the highest March total since 2007."
- "Inventory levels pushed above 5,400 units, but citywide months of supply fell below two months. This reflects the lowest months of supply for March since 2014 and these tight conditions have contributed to price gains."
- "The benchmark price trended up over last month to $441,900, over six per cent higher than last year’s levels."
- CREB® chief economist Ann-Marie Lurie says, "Low lending rates and improved savings have supported sales activity. However, sales have been somewhat restricted by the lack of listings. This month there was a jump in new listings, contributing to the strong monthly sales. Improving prices will likely support further gains in new listings, as sellers try to capitalize on the recent shift toward rising prices. Eventually, this will help support more balanced conditions, but it could take time before we see this shift in the market.”
Questions? Contact Ken Richter directly at 403-630-6363.
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