New listings improve for all product types in the city.
Following a slow start to the year, improved weather and price gains supported new listing growth. New residential listings in April totaled 3,754 units, an 8% increase over the previous year.
Gains in employment and net migration have supported demand growth in the housing sector, however with unadjusted prices only recently recovering in some sectors, it is not a surprise that resale supply has not kept pace. As prices continue to improve and lending rates remain low, this should help support further gains in new listings, easing some of the tightness in the market.
The detached benchmark price for April is $496,700 an increase of 9.67% year-over-year. The apartment benchmark price is $291,700 an increase of 11.63% and the attached benchmark price is $316,700 an increase of 9.62%. Overall sales for the month totaled 2,545 units, compared with 2,377 during the same period last year.
Call Jeff Campbell 403-275-3331