When CREA releases the nationwide September figures later today, you’ll be reading a lot of “with the exception of Calgary” when economists speak of softening sales across Canada.
You’ll likely be reading the same next month as Calgary sales continue to post year-over-year gains as we approach the midway point of October.
Between October 1-14, single family home sales are up +9% from a year ago. Average prices are up +5.44% from $461,206 to $486,292. The median price is up +7.34% from $399,200 to $428,500.
Inventory continues to remain a little scarce as MTD new listings are down -8% y/y.
Condo sales are currently up +25% in the first two weeks of October. The average price has increased +11% to $309,392, and the median is up +9% to $279,750 from $256,000.
As we examined yesterday, the new CMHC cap on million dollar homes hasn’t had an impact on the luxury market yet.
So far in October, 24 homes (22 SFH & 2 condos) have sold for $1M or more compared to 17 last year.
A downtown condo now holds the highest sold price for the month, selling for $2,850,000. The Le Germain Residences unit was listed by Karen Hagg with Royal Lepage Foothills. To view photos, click here
At $2.85M, it is the 5th highest condo sold on MLS in Calgary.
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