Filled with the latest real estate news, unsubscribe any time.
Row
Over 600 new listings came onto the market in September, where over 70 per cent of the new listings were priced above $400,000. While new listings improved across most districts, 34 per cent of the new listings were in the North and South district, likely a reflection of the new home activity occurring in those areas. Sales in September totalled 377 units, slightly lower than last year's levels.
Inventories in September rose to 747 units, a significant improvement over the previous two years, but still below long-term trends. Nonetheless, the rise in inventory relative to sales did cause the months of supply to increase to nearly two months. Conditions continue to favour the seller, but improved choice did slow the pace of price growth. The unadjusted benchmark price in September was $459,200, 10 per cent higher than September 2023 levels.
Apartment Condominium
Strong gains in new listings continued into September, with 993 units entering the market. At the same time, sales dropped to 502 units, causing the sales-to-new listings ratio to drop to 50 per cent and inventories to rise to 1,623 units. Of the inventory in the market, over 72 per cent was priced above $300,000, a significant shift compared to last year, where less than 58 per cent of the listings were above that range.
Gain in supply compared to sales caused the months of supply to rise to 3.2 months, the highest level seen since the end of 2021. Improving supply in the new home market is likely contributing to the rise in supply and has taken some of the pressure off home prices. In September, the unadjusted benchmark price was $345,000, 14 per cent higher than last year at this time. Year-to-date prices are still averaging a year-over-year gain of 17 per cent.
Calgary, Alberta, October 1, 2024 – Rising sales in the upper price ranges were not enough to offset the pullback occurring in the lower price ranges, as sales in September were 2,003, ...
Row New listings row for homes priced above $400,000, contributing to year-to-date growth of nearly 16 per cent. At the same time, slower sales over the past three months have contributed ...
AUGUST 2024 HOUSING MARKET UPDATE - MEDIA RELEASE SEPTEMBER 3 2024 Housing activity continues to move away from the extreme sellers’ market conditions experienced throughout the spring. ...
https://calgarydreamhomes.com/institute-of-luxury-home-marketing-latest-report.html