With talk of the Calgary housing market booming, some will find consolation with the knowledge that sales are tamer than the heady days of 2005 & 2006 when prices spiked.
Through two weeks in November, a total of 830 homes sold in Calgary. That’s a 34.3% increase from last year, but still nearly -22% fewer sales than the same period in 2006.
The average price is up 7.47% y/y while the median is uncharacteristically even higher, up 11% from last November.
An interesting development is that luxury sales slammed on the brakes in week two. In the first week, 20 homes sold for $1M or more. Between November 8-14 there were only 5 more high-end transactions. Despite this slowdown, luxury sales are still higher month-to-date than any previous November but the gap has closed considerably.