It is time for another real estate update, courtesy of The Calgary Real Estate Board. You can visit their website by clicking here, which is a great resource to help you become a more informed buyer, seller, and real estate investor.
Here are the highlights from their most recent report, which you can read in full by clicking here:
- "Sales and new listings have improved... the spread between sales and new listings supported some expected monthly inventory level gains. However, the 3,233 available units reflected the lowest March inventory levels since 2006 and left the months of supply just above one month, firmly in the seller’s territory." (The Calgary Real Estate Board)
- "Total unadjusted residential home prices reached $541,800 in March, a two per cent gain over last month and nearly one per cent higher than prices reported last year.... the pace of price growth over the first quarter has been stronger than expected due to the persistent seller’s market conditions." (The Calgary Real Estate Board)
- "March recorded 3,318 new listings compared to the 2,432 sales, leaving the sales-to-new listings ratio relatively high at 73 per cent. " (The Calgary Real Estate Board)
Calgary Real Estate Board Chief Economist Anne-Marie Lurie says, "As expected, sales have eased from record levels while remaining stronger than they were before the pandemic thanks to recent gains in migration supporting demand. The challenge has been centered around supply. As a result, existing homeowners may be reluctant to list as they struggle to find an acceptable housing alternative in this market. At the same time, higher lending rates can also reduce the incentives for existing homeowners to list their home.”
Are you ready to make your move? Contact Team Ken Richter today at 403-630-6363 or email Ken@KenRichter.com