May a record month for Calgary real estate
Posted Jun 3, 2014 7:40 am.
This article is more than 5 years old.
The latest snapshot of the local housing market contains mostly good news especially for those looking to sell their home.
MLS sales came in just below 3,000 last month, which is the second strongest month on record, only second to transactions recorded in March 2007.
While listings did rise in May, the Calgary Real Estate Board reports overall inventory levels are down about five per cent from last year.
CREB’s Chief Economist Ann-Marie Lurie states while market conditions continue to favour the seller, improving supply has helped ease some of the tightness in the market.
As for prices, the unadjusted price for a single family home in Calgary is now pegged at just over $504,000 which represents a 10 per cent increase over the same period a year ago.
Condo and townhouse prices are also up.
A new record in terms of the sale of million dollar-plus homes was also established; sold signs went up on 94 such properties, breaking the old mark of 83 established back in May 2013.
