Here are the highlights of the Calgary Real Estate Board's report, which you can read in full by clicking here:
- "For the second month in a row, sales activity not only reached a monthly high but also hit new record highs for any given month. Gains occurred across every property type as they all hit new record highs."
- "Inventories have remained relatively low, ensuring the market continues to favour the seller."
- The "unadjusted benchmark price [was] $518,600 this month."
- "Prices have risen by nearly $55,000 since December and currently sit nearly 18 per cent higher than last year’s levels."
- "Price gains and rising lending rates are expected to weigh on demand in the second half of this year."
Each month the Calgary Real Estate Board's chief economist comments on the trends. She had this to say about March: "While supply levels have improved from levels seen over the past four months, inventory levels are still well below what we traditionally see in March, thanks to stronger than expected sales activity. With just over one month of supply in the market, the persistently tight market conditions continue to place significant upward pressure on prices.”
Ready to make your move? Contact Team Ken Richter today at 403-630-6363 or email Ken@KenRichter.com
Have a great month ahead!
(Photo Via Canva)