Courtesy of Dave Bryant

Price growth persists in Calgary as Seller’s market prevails

$346,200 apartment UP 17.7% year-to-year

$749,000 detached UP 13.1% year-to-year

BENCHMARK PRICES

$458,100 rowhouse UP 20.0% year-to-year

2,881 SOLD LISTINGS 3,491 NEW LISTINGS

detached 1,321 822 apartment

detached 1,629

1,050 apartment

0.94 MONTHS OF INVENTORY

2,711 ACTIVE LISTINGS

82.5% SALES TO NEW LISTING RATIO

20 DAYS ON MARKET

City of Calgary, May 1, 2024 - Sales in April rose by seven per cent compared to last year, to 2,881 units. At the same time, there were 3,491 new listings in April, an 11 per cent gain over last year but only three per cent higher than long-term trends. The rise in new listings compared to sales prevented any further deterioration of the inventory situation. However, with 2,711 units in inventory, levels are 16 per cent below last year and half of what is traditionally seen in April. “While supply levels are still declining, much of the decline has been driven by lower-priced homes," said Ann

Marie Lurie, Chief Economist at CREB ® . “Homes priced below $500,000 have reported a 29 per cent decline. Meanwhile, we are seeing supply growth in homes priced above $700,000. Persistently high-interest rates are driving demand toward more affordable products in the market and, at the same time, driving listing growth for higher priced properties.” In April, the unadjusted total residential benchmark price reached $603,700, a one per cent gain over last month and nearly 10 per cent higher than last year's levels. Statistics reflect market activity in April 2024 | Source: CREB ® Calgary Real Estate Board. Market values stated are of the benchmark of the city of Calgary. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home. Dave Bryant: 403.816.6358 dbear@shaw.ca

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