The Calgary Real Estate Board released the August Statistics today, and there were numbers that you should be aware of.
Sales were down slightly in August from the numbers in July, but they do remain higher than August of 2016. There were 1602 homes sold in August, as compared to 1629 homes in July. There were 1570 homes sold in August of 2016. The “Days on Market” increased as well from 43 days in July to 48 days in August.There were 3008 new listings in August as compared to 2981 listings in July, and there was 2766 new listing in August 2016, so there was definite growth over the past 12 months. The benchmark price was also up. The benchmark price in Calgary was $442,300 in August and was at $438,600 one year ago.
“Employment growth is contributing to the stability in sales activity, but it is not enough to meet the recent rise in listings and make a substantial dent in inventory levels,” said CREB® chief economist Ann-Marie Lurie.
“Unemployment rates remain elevated and job growth is mostly occurring outside the energy sector, slowing the recovery process. Broader economic improvements will be required prior to it translating into substantial improvements in the housing market.”
“Buyers have several options in this market, and sellers need to continue to be realistic regarding the price they expect to receive for their home,” said CREB® president David P. Brown.
If you would like more information about the Real Estate market in and around Calgary, or if you would like to buy or sell a home, please call me today!
Bruce Voigt – REALTOR
RE/MAX Rocky View Real Estate