I have good news and bad news for Calgary home buyers. The good news is that there isn’t anything wrong with CREB®’s new listing auto-notifier or your email. The bad news is that sellers haven’t been this sluggish in listing their homes at the start of year since 1998.
Month-to-date, new listings are down -10.63% y/y, bringing active listings -18.29% below year ago levels.
Overall sales are up 14.17% y/y, defying predictions from some bearish analysts that real estate demand was pulled forward in the later half of 2013. It’s positive to note that sales are up across all 3 housing categories and that we’re on pace for the most January sales since 2008.
Seven more properties sold for $1M+ in the second week of January, bringing the month-to-date total to 15. The most expensive sale so far is this Elbow Park home that sold for $2,950,000.