The real estate market in Calgary is seeing strong and consistent growth, with persistent sellers’ market conditions driving home prices to new record highs. The unadjusted benchmark price has risen to $550,800, which is nearly two percent higher than last month.
Even though sales have eased compared to last year we are experiencing tight market conditions with months of supply at just over one month.
With a sale-to-new-listings ratio of 86 percent, inventories have declined by 34 percent compared to last year and are over 45 per cent below long-term averages for April. The limited supply of homes for sale is making the market more competitive, with many buyers placing offers above the list price, leading to stronger than expected gains in home prices.
In this market buyers need to work with a Realtor who can advise them of the best strategy for closing the deal.
Anthony Therrien-Bernard & Santhosh Nathan
Investor-Focused REALTORS®
Calgary Real Estate Investor Hub | EXP Realty
403-768-4020
