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Market Update March 2016

Posted by Arshad Rashed on Friday, March 4th, 2016 at 12:50pm.

Housing Sales Slower Than Typical February!

Monthly prices decline for the fifth consecutive month. While the number of new listings in Calgary continue to fall, inventory levels have remained elevated which continue to favour the buyer.

The detached market continues to show varying trends based on price range. Inventory has pushed sellers to be more realistic about their pricing expectations and the amount of time their properties may be on the market. A sold selling strategy can really make the difference in this market.

The detached benchmark price for February is $504,400 a decrease of 3.19 % year-over-year. The apartment benchmark price is $283,600 00 a decrease of 5.25% and the attached benchmark price is $338,900 a decrease of 2.75%. Overall sales for the month totaled 1,127 units, compared with 1,207 during the same period last year.

Airdrie’s inventory increased to 378 from 326 units, sales increased by 22 to 87 for February. The benchmark price for February $365,300 a decrease of $12,500 from last year. Overall sales for the month totaled 87 units, compared with 99 during the same period last year.

Call Jeff Campbell 403-275-3331



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