Every month the Calgary Real Estate Board releases a report detailing what has been happening in the real estate market. These reports provide valuable information to sellers, buyers, and investors alike. Real estate requires strategic decision making, so staying informed is crucial to ensure you are making the best moves possible.
Here are the highlights from The The Calgary Real Estate Board's market report for November 2024, which you can read in full by clicking here:
- "As we transition into winter, Calgary's housing market is following typical seasonal trends, with activity slowing compared to the fall" (CREB).
- "The 1,797 sales for November mirrored last year’s levels and remained 20 per cent above long-term trends for the month" (CREB).
- "Inventory levels rose to 4,352 units in November" (CREB).
- "The months of supply have increased to over two months" (CREB).
- "The total residential benchmark price reached $587,900, reflecting a year-over-year increase of just under four per cent" (CREB).
Calgary Real Estate Board Chief Economist Ann-Marie Lurie notes, "Housing supply has been a challenge over the past several years due to the sudden rise in population. Rising new home construction has bolstered supply in rental, new home and resales ownership markets. However, supply improvements vary significantly by location, price range, and property type.”
Are you ready to make your move? Contact Ken Richter directly today at 403-630-6363 or email Ken@KenRichter.com. In every market, Ken's experience is your advantage.
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