Housing Market Retains Momentum in April!
Calgary’s housing market continued to show signs of stability in April. With improvements in the labour market and a balanced detached sector there is less uncertainty for people who are sitting on the fence. The relationship between sales and inventory will be a key driver for pricing in the months ahead.
The detached benchmark price for April is $504,100 a decrease of 0.06% year-over-year. The apartment benchmark price is $269,200 a decrease of 4.23% and the attached benchmark price is $331,500 a decrease of 0.93%. Overall sales for the month totaled 1,917 units, compared with 1,768 during the same period last year.
The City of Calgary home market has 3.16 months of inventory and the sales to new listings are at 53.54%, meaning 46.46% of homes are not selling. The sale price to list price ratio is 97.30% and 44 days on market.
Airdrie’s inventory increased to 401 from 395 units, sales decreased by 11 to 129 for April. The benchmark price for April $356,500 an increase of $200 from last month. Overall sales for the month totaled 129 units, compared with 138 during the same period last year.
The City of Airdrie home market has 3.50 months of inventory and the sales to new listings are at 60.61%, meaning 39.39% of homes are not selling. The sale price to list price ratio is 98.20% and 48 days on market.
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For the complete Calgary April 2017 CREB® report, Click Here
For the complete Regional April 2017 CREB® report, Click Here
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