The Calgary Real Estate Board has released the stats for September, and if you haven’t been following the market over the last 3 or 4 months they might surprise you.
September sales activity jumped to 1,702 units, the strongest September total since 2014. New listings in September improved over last month, but levels remained comparable to the previous year.
Total residential benchmark prices have trended up over the past three months, resulting in September prices that are similar to prices recorded at the same time last year. Despite some of the recent improvements, the impact of COVID-19 is still present. Year-to-date sales remain nearly nine per cent below last year’s levels, while city-wide prices are still over one per cent lower than last year.
Detached – With significant gains in the $400,000 – $600,000 range, September sales are the highest they have been since 2014.
Semi-Detached – Given some recent monthly gains in new listings, sales in this sector improved in September, but at a slower pace than both the detached and row sectors.
Row – Sales in this sector have continued to trend up for the past several months and September sales were significantly higher than last year’s levels.
Apartment Condominium – All other sectors have seen some recent year-over-year gains in sales, but this sector continues to trend in the other direction. Year-to-date sales declined by 16 per cent, the largest decline among all property types.
REGIONAL MARKET FACTS
Airdrie – For the fourth consecutive month, year-over-year sales improved. Year-to-date sales for the city total 1,055 units, a nine per cent increase over the previous year.
Cochrane – A reduction in new listings limited sales growth in September compared to August. However, September sales remain higher than last year and contributed to a year-to-date gain of nearly nine per cent.
Okotoks – September sales continued to improve from the low levels recorded earlier in the year and levels recorded last September. Sales remain three per cent lower than last year’s levels, but this could be related to reduced inventory in the market.
If you would like more information about this report, or if you have questions about Real Estate in the Calgary area, please call me today!
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