Strong Summer Sales Stay

Residential sales in Calgary this summer exceeded expectations with 2,196 units sold!

This 27.5% increase from last year is mainly attributed to high sales in the single-family home sector, in which 1,517 units were sold. CREB® President Becky Walters believes that the increase in listings of quality homes gave “buyer’s more choice” and allowed the market to flourish.

New listings of condominium apartments are hard to come by and sitting in a tight market, though there was still a 13.7% increase from last year with 2,823 units sold. Just like the single-family sector, the condominium townhouse market is on the rise with 21.4% increase over last year and 2.6% increase in listings.

CREB® Chief Economist Ann-Marie Lurie thanks high employment, wages, and migration to the city for supporting the housing market. What’s her prediction for what come next? She claims that, “Our affordability, combined with a positive economic outlook, is expected to support demand growth for the remainder of the year.”

Benchmark prices for single-families hit $464,700, condominium apartment reached $270,600, and townhouse prices were at $298,500. All around, every market saw approximately a 7% increase since last year.

The reason behind these figures can be attributed to supply and demand. Lurie claims that, “Tight market conditions have supported stronger-than-expected price growth in the city”, however these prices must be kept in context.

Overall, a wonderful summer for Calgary Real Estate! Congratulations to all the realtors who make this happen, and hopefully the fall sees positive numbers, too!

Read the full CREB Monthly Summary Statistics package

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