Found 6 blog entries tagged as Market conditions.

Price gains continue in Calgary's real estate market as inventory remains low

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Both sales and new listings improved over levels reported last October. However, with 1,302 new listings this month and 976 sales, inventory levels slowed over the last month. Inventory levels remain the lowest ever reported for October. Inventory levels have declined for all homes priced below $700,000, leaving conditions exceptionally tight for lower-priced homes. The only area where conditions are not as tight as last year is for homes priced above $1,00,000, where the months-of-supply has risen to 4.3 months.
 
Persistently tight conditions continue to cause further price gains in the detached market. As of October, the unadjusted benchmark price reached…

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Calgary home sales at record highs in September, yet supply remains a challenge

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Inventory levels remained at record lows for the month as the sales-to-new listings ratio remained relatively high at 76 per cent. The decline in inventory levels has been driven by homes priced below $700,000, as supply levels show some improvement for homes priced above this level. While detached sales improved over levels reported last year, much of the gains were driven by the higher-priced properties with some supply options. Overall, homes priced below $700,000 continue to struggle with less than one month of supply.
 
Despite persistently tight market conditions, the unadjusted benchmark price remained relatively stable this month compared to last…

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August sees record-high sales amidst historic low inventory, pushing prices higher.

 

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Record low inventory levels this month were primarily driven by pullbacks for homes priced under $700,000. While new listings did improve compared to last year, most of the growth was driven by homes priced over $700,000. August sales did improve over last year’s levels. However, limited supply in the lower price ranges has likely prevented stronger detached home sales.

Persistently tight conditions drove further price gains this month. As of August, the unadjusted benchmark price reached $696,700. Nearly one per cent higher than last month and over 10 per cent higher than last year's levels. The highest year-over-year price gains occurred in the most…

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Calgary home prices reach new heights: July sees seventh consecutive monthly gain

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With 1,197 sales and 1,587 new listings in July, inventory levels trended up over last month. However, with 1,720 units available, inventory levels are at the lowest ever reported for July. Inventory levels have declined across all properties priced below $1,000,000.
 
Shifts in sales and inventory have caused the months of supply to trend up over the one month reported over the past several months. However, conditions remain relatively tight, and prices continued to rise this month. In July, the unadjusted benchmark price rose to $690,500, a monthly gain of nearly one per cent and over seven per cent higher than last July. Both year-over-year and monthly…

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May sales reach a record high

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Rising sales for homes priced above $600,000 was not enough to offset declines in the lower price ranges as May sales reached 1,486, a year-over-year decline of eight per cent. New listings continue to fall for homes priced below $700,000, providing limited choice for consumers seeking out lower-priced detached homes. While new listings did improve for higher-priced properties, the relatively strong demand kept conditions tight across all price ranges, driving further price gains.
 
In May, the detached benchmark price reached $674,000, nearly two per cent higher than last month and over four per cent higher than last year’s peak price of $647,000. While each district reported a new record high price this…

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Prices reach new record high

May 1, 2023 - Persistent sellers’ market conditions placed further upward pressure on home prices in April. After four months of persistent gains, the total unadjusted benchmark price reached $550,800, nearly two per cent higher than last month and a new monthly record high for the city. 

“While sales activity is performing as expected, the steeper pullback in new listings has ensured that supply levels remain low,” said CREB® Chief Economist Ann-Marie Lurie. “The limited supply choice is causing more buyers to place offers above the list price, contributing to the stronger than expected gains in home prices.”

In April, sales reached 2,690 units compared to the 3,133 new listings. With a sales-to-new-listings ratio of 86…

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