Housing Recovery A Balancing Act!
The growth in new listings outpaced sales preventing inventory declines. The sales posted a modest gain in August, but a rise in new listings kept inventory levels elevated. While inventories were 16% higher than August 2016 levels, the slight rise in sales prevented further gains in the months-of-supply which remain just above four months.
The detached benchmark price for August is $510,900 an increase of 1.51% year-over-year. The apartment benchmark price is $263,300 a decrease of 3.09% and the attached benchmark price is $336,300 an increase of 1.48%. Overall sales for the month totaled 1,602 units, compared with 1,570 during the same period last year.
The City of Calgary home market has 4.13 months of inventory and the sales to new listings are at 52.25%, meaning 47.75% of homes are not selling. The sale price to list price ratio is 97.47% and 42 days on market.
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For the complete Calgary August 2017 CREB® report, Click Here
For the complete Regional August 2017 CREB® report, Click Here
Call Jeff Campbell 403-275-3331