If the Canadian housing market is supposed to be slowing down this spring, Calgarians have yet to receive the memo. May sales are on pace for the highest total since 2007 and currently up 7.8% year-over-year.
Sales growth is mostly attributed to the condo market segment: Condo-apartment sales increased 14.53% with 197 sales, while Condo-townhomes have jumped 30.16% with 164 sales.
Single family home sales are up a modest 2.62% to 783, but that’s still the highest 2-week total in May since 2007 as well.
Average and median prices are seeing price growth year-over-year across all three market categories with 16.5% of the properties selling for full asking price or higher.
There have been 33 properties that sold for a $1M or more month-to-date: 29 single family homes and 4 condos. That’s off the record-breaking May from last year where 37 had sold during the same period.