It is a very good time to be selling a home; at least that's what the experts at the Calgary Real Estate Board are saying!
Their latest report details an excellent summary of what happened in the real estate market this past month. As we head into November and you may be considering buying, selling or investing, make sure you are informed on where the market is at.
Here are some of the highlights from the Calgary Real Estate Board's monthly real estate market statistics report, which you can read in full by clicking here:
- "There were 2,186 sales in October, a record high for the month and over 35 per cent higher than longer-term averages."
- "Year-to-date sales are on pace to hit new record highs and are currently 61 per cent higher than average activity recorded over the past five years and 42 per cent higher than 10-year averages."
- "Supply levels have struggled to keep pace with demand, but much of the decline in the months of supply has been related to the strong sales levels. As of October, the months of supply dipped to just over two months."
- "The benchmark price in October reached $460,100, slightly higher than last month and nearly nine per cent higher than the $422,600 recorded last October."
The Calgary Real Estate Board's chief economist Ann-Marie Lurie writes, "moving into the fourth quarter, the pace of housing demand continues to exceed expectations in the city. Much of the persistent strength is likely related to improving confidence in future economic prospects, as well as a sense of urgency among consumers to take advantage of the low-lending-rate environment."
Are you ready to make a move? Contact Team Ken Richter today at 403-630-6363.
Have a great November!
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