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Posted By Crystal Tost on Wednesday, June 10, 2015 9:09:00 PM | 28 Comments
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Calgary homes for sale have sales drop consecutively for fifth straight month in 2015. CREB statistics show that Calgary home supply may be coming to a crawl in response to the slowdown. New listings were around three thousand last month which is an eighteen percent drop from 2014. All data provided is from the Calgary Real Estate Board.
Ann-Marie Lurie, chief economist with CREB states “While conditions continue to favor the buyer, both the months of supply and the sales to new listings ratio, which represent measures of market balance, tightened in April. If this trend continues, it should help prevent resale inventories from rising to previous highs and limit some of the downward price pressures we’ve been seeing.”
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Caption: Calgary condos for sale
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The latest Calgary housing market report shows some ups and downs for the city. Overall, new listings are slowing down, which means there is likely to be some downward pressure on the supply growth within the Calgary resale market.
While Calgary home sales remained below the long-term averages for the month of February and year-over-year new listings growth fell from 37 percent in January to nine percent in February, inventory levels increased to 5,474 units. Nonetheless, while the supply levels are higher than what the market has seen in awhile, they are still falling short of the record high of 7,000 units that was achieved in February 2008.
Overall, the city of Calgary also saw its real estate sales fall by 34 percent when compared to the previous...
CALGARY REAL ESTATE NEWS – For a lot of people buying homes for the first time, condominiums have been a way to transition from owning your own home to owning your dream home. However, an influx of upcoming condos and aggressive bidding battles for modern detached houses has led to an increasing gap between the rates of house and condo prices which hit the peak last year.
Comparing Housing and Condo Price
The average price gap in December between a one family house and a condo for sale in the market reached $320,000. Canada’s four main cities were affected by this which are Calgary, ...
CALGARY REAL ESTATE NEWS - Since the price of oil decreased, many of us Calgarians are concerned about the big effects this shift will have on the economy and Calgary real estate. Many people and various businesses however, are showing little worry. I read a great article by Claudia Cattaneo on her take of the oil boom decrease and how many are ot too concerned. I want to share some of that information with you on my blog.
Business As Usual In Calgary...For Some
In Calgary, its business as usual during the oil crisis of 2015: there has been no drop in sales for most luxury items such as jet charters and luxury automobiles; and Calgary bars and restaurants are still doing well. All of these factors look promising to us Calgarians. There is a downside though: some believe that the increase in...