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Calgary Real Estate in a State of Flux: April 2016 Report

Posted by Ryan MacDonald on Thursday, May 26th, 2016 at 9:00am.

Calgary Real Estate Key Statistics for April, 2016

  • Number of Days On Market - 46 (up from 40 in April 2015)
  • Benchmark Price - $441,000 (down from $456,000 in April 2015)
  • Homes sold for $1 million or more - 47 (down from 53 in April 2015)
  • Month with most sales in last year - May 2015 (2,186 total sales)
  • Most expensive Calgary home for sale - $12,250,000 Aspen Ridge
  • Most expensive Near Calgary - $24,888,000 - Rural Foothills M.D. 

Calgary Hit Hardest

Calgary's real estate market continues to wallow in a state of flux when it comes to homes sales as inventory continues to rise, while the number of home sales in Calgary decrease.

In April, some 1,764 homes were sold in the Stampede City, according to the Calgary Real Estate Board, which is down 10.1% from April 2015, but a solid increase of 9% from the 1,588 units sold in March this year.

However, 3,216 new listings came onto the market, which is a 5% increase from April 2015, pushing Calgary's total inventory level to 6,242 homes, which is 3.5 months worth of supply. That's a huge jump of 23.2% from the supply level a year ago.

According to CREB experts, the inventory increase is due to buyers holding off on making a purchase, waiting for a better deal on a home along; knowing the market is trending downwards because of the economic situation in Alberta.

Interestingly, the average sale price saw an increase of 1.5%, however the CREB Benchmark Price (the price for a typical home in Calgary) was down for the seventh consecutive month. The benchmark was down by 0.4% over last month - and 3.4% from last year - to $441,000.

Condo sales went down 19% year-to-date and attached homes are down 13%.

And Calgary's real estate trend is reflected throughout the province of Alberta, as only the Lethbridge region saw an increase in the average sale price, going up 1.9% from April of 2015.

Inventory levels across the province are also higher at 5.7 months, up from 4.6 months a year ago.

Calgary housing stats for April, 2016

Ryan MacDonald, B.Sc. Real Estate Professional

Million Dollar Club Member
Top 1% Real Estate Professional in Calgary
Re/Max First
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