Calgary Real Estate Price Reductions
View Calgary Real Estate with Price Reductions in the last 7 Days
City of Calgary, Tost Realty Group, February 1, 2019
As challenges related to the economy continue into the 2019 year, the market as a whole is still on the slow side. January sales totalled 804 units, sitting at 16 per cent below last year, and 21 percent below long-term monthly averages.
Chief economist Ann-Marie Lurie stated last week that: “The slow start to the year does not come as a surprise, as concerns about job losses and the state of the energy sector weigh on consumers. We anticipate that the slow market conditions will persist throughout much of the first quarter."
The number of new listings entering the market is still comparable to last year's data, but those levels have increased beyond normal sales activity. Higher inventory levels are the main culprit for this occurrence. Elevated inventories in relation to sales...
City of Calgary, Tost Realty Group, January 2, 2019
As oversupply is still a pertinent issue, prices during December slowed by one per cent, and are currently situated at over three percent below this time last year.
CREB chief economist Ann-Marie Lurie stated last month that “Persistent weakness in the job market and changes in the lending market impacted sales activity in the resale market this year”. This definitely contributed to a heightened supply in the resale market, resulting in a decline in price.
Sales in December sat at a total of 794 units, a 21 per cent decline over the previous year. Overall year-to-date sales in the city sat at a total of 16, 144 units, a 14 per cent dip from two years ago, and 20 percent below previously standing long-term averages.
The Inventory levels statistic...
City of Calgary, Dec. 3, 2018
Sales during the month of November sat at a total of 1,171 units, remaining below long-standing averages.
For the year up to this point, monitored sales activity has rang in at 15,349 units, displaying a 14 per cent decline over last year, and nearly 20 per cent below standing averages.
During November, New listings eased by seven per cent compared to last year. Due to this substantial shift in new listings, further inventory gains have been prevented. Overall inventory is currently at 6,501 units, remaining slightly above the 5,683 units in inventory seen last year, and 32 percent higher than in a typical November.
Throughout the month of November, the citywide benchmark price was $422,600, hovering near one percent lower than last month, and at 3 percent lower than levels...
City of Calgary, November 1, 2018
Inventory levels are elevated when compared alongside sales, which is causing Calgary housing prices to ease a bit more.
Benchmark prices in the entire city during October totalled $426,300, which is a downward trend for the fifth month in a row. This resulted ultimately in a year-over-year decline of 2.9 percent.
Chief economist Ann-Marie Lurie of CREB claimed avidly that job growth in the city remained a dire concern, as unemployment levels remain well above expected. The overall cost of ownership continuing to rise also will ultimately provide a burden of weight on the housing market and demand.
Overall sales and inventories totaled 7,345 and 1,322 during the month of October. Typical monthly levels usually hover around 5.6, and while there is a bit of slowing in listing growth, this ultimately prevents further inventory risings. Currently the...
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