For the sixth month in a row, sales in the Calgary Real Estate market recorded year over year gain. Sales growth over the past several months has been the strongest we have seen in the past five years!
Due to COVID-19 and shut downs in the spring sales do remain over 3% lower than last year. New listings have decreased over 10% and are at the lowest levels since 2001!
Tighter conditions in the housing market have contributed to some of the recent gains in benchmark prices. As of November, the benchmark price was $423,600. This is nearly 2% higher than last year’s levels.
We are currently in a balanced market and prices are starting to climb. This is helping home owners understand as we move into the New Year, that their Real Estate investment is at least stable.
Stay safe over the holidays and let us all hope that 2021 will be a year for growth and getting back to normal.
Best Wishes to you all!