for Real Estate Agents™
HOUSING MARKET FACTS
Friday, November 2, 2018
Calgary - October 2018
Year-to-date apartment sales have totaled 2,316 units, nearly seven per cent below last year. New listings have also eased by six per cent, helping reduce the amount of inventory in the market.
Despite the easing inventories, the months of supply remains elevated at 7 months.
Year-to-date apartment condominium prices have eased by 2.8 per cent and remain 14 per cent below 2014 highs. Declines occurred across all districts, with the steepest declines occurring in the North East, East and South districts.
The attached sector has recorded year-to-date sales of 3,098. This is 15 per cent below last year and 14 per cent below long-term averages.
Meanwhile, despite recent easing in new listings, October inventories are the highest level on record.
The oversupply is affecting both the semi-detached and row sectors, which have seen prices trend down over the past 5 months.
Year-to-date, row benchmark prices have averaged $298,140 this year, nearly two per cent below last year and nine per cent below previous highs.
However, prices have remained relatively flat in both the City Centre and North West districts.
As of October, semi-detached prices were $403,400, one per cent lower than last month and nearly three per cent lower than last year. Despite recent declines, year-to-date citywide prices remain relatively flat compared to last year. This was most due to gains in the City Centre, North East and East districts offsetting declines in the North West, South and South East.
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