The highlight from the Calgary Real Estate Board's market analysis for November 2022? "2022 [is] on track to be a record year for real estate" (Calgary Real Estate Board). This should come as no surprise to those who have been following market trends this past year and stayed informed on what has been going on. The informed buyers, sellers, and investors have been successful, reaping the rewards of one wild year of real estate!
Here is what else the Calgary Real Estate Board had to say in their most recent report:
- "Residential sales in the city slowed to 1,648 units" (Calgary Real Estate Board)
- However, "year-to-date sales remain nearly 10 per cent above last year’s record high. The year-to-date sales growth has been driven by a surge in both apartment condominium and row sales" (Calgary Real Estate Board)
- "The pullback in both sales and new listings kept the months of supply relatively tight at below two months. The tightest conditions are occurring in the lower-price ranges as supply growth has mostly been driven by gains in the upper-end of the market" (Calgary Real Estate Board)
- "November benchmark prices continue to remain nearly nine per cent higher than levels reported last year" (Calgary Real Estate Board)
Calgary Real Estate Board Chief Economist Ann-Marie Lurie notes, "Easing sales have been driven mostly by declines in the detached sector of the market. Higher lending rates are impacting purchasers buying power and limited supply choice in the lower price ranges of the detached market is likely causing many purchasers to place buying decisions on hold.”
(image created via Canva)
You can read the full report by clicking here!
If you are ready to make your move before year's end, there is still time! Contact me at 403-630-6363 to be part of this historic year in real estate. Remember: my experience is your advantage.
Have a great holiday season!