Calgary Real Estate Statistics for April 2021
Calgary real estate market continues to thrive despite the pandemic.
The Calgary real estate housing market continues to bounce back amid the pandemic with record sales in April. With 4,670 new listings and 3,209 sales, Calgary is among the current global trend of being a seller's market.
With the increase in sales, the months of supply, which represents how long it will take to clear existing inventory, remains below two months, which is great news for those wanting to sell a property.
Record sales and 10% increase to real estate prices.
Not only are sales at a record high, but benchmark prices in general have also risen as much as 10% and higher as of April compared to last year. The benchmark price represents the monthly price of the typical home based on its attributes such as size, location, and a number of bedrooms.
High demand in neighbouring real estate markets.
Airdrie, Cochrane, and Okotoks are also experiencing a surge in supply and demand much the same as Calgary as recent price gains and tight market conditions have encouraged many sellers to list their homes this month.
Airdrie Real Estate
In Airdrie, the recent rise in new listings has caused inventories to increase relative to the past several months, but it did little to ease the seller's market conditions that have existed since last year.
Cochrane Real Estate
Cochranes' new listings also remained elevated, but it was not enough to meet the demand, as the 178 sales outpaced the 161 new listings. Inventory fell to 172 units, which is the lowest level recorded in April since 2007.
Okotoks Real Estate
In Okotoks, there were 108 units in inventory which is over 50 percent lower than typical levels for this month.