Patience and perseverance is required in Calgary’s housing market. Recent struggles in the job market, accompanied by yet another interest rate increase, is piling on to the decisions potential purchasers have to make in the housing market.
In a buyers’ market, it’s critical for all parties to have the most up-to-date information to make a fully informed decision, whether you are buying or selling.
The month of July saw 1,547 units sold in Calgary.
Benchmark home prices totaled $501,300 in July over 2% from last year’s levels. Conditions today remain better than in 2016.
New listings are easing in the apartment condominium sector and have prevented any further gains in the amount of inventory in the market. Supply levels remain elevated compared to sales. Citywide inventory remains just below last year. Levels remain elevated by historical standards. Reductions in inventory will help reduce oversupply.
Attached Sector (includes Semi-Detached and Row Housing)
Gains in new listings pushed up inventory levels and months of supply compared to last year.