Overall Calgary sales in the first week of June were up 3.77% from a year ago. At a comparatively more attractive price point, condo sales growth continues to outpace the single family segment and boost overall figures.
The luxury market hasn’t slowed much from the record-setting pace of last month. A total of 20 properties have sold for a million or more this past week compared to 21 in May and 15 last June during the same period.
There are almost 1,000 fewer homes currently on the market from last June, down -16.47% y/y. With new listings this month also down -1.49% coupled with the 3.77% increase in sales, the Calgary market is at a 1.9 month inventory absorption rate: conditions favoring sellers.