Steady buyer demand coupled with low inventory continues to stoke prices higher in the Calgary real estate market.
Month-to-date, the average price of a single family home is $48,958 more than a year ago. The median is up $35,300. Looking at SFH stats, you can’t help but notice that everything is primed for price gains: sales are up while new listings and active inventory is down, and the Sales-to-New-Listings Ratio is at 68.52%.
An interesting development to keep an eye on are new listings for Condo-Apartments which have surged 31.91% y/y so far this month and narrowed the y/y inventory difference to just -3.91%. However, the increased selection has presumably helped spur sales as well, now 29% above the same period last year. Average and median prices are up 17.95% and 13.07% respectively year-over-year.
Townhome sales and new listings are fairly even year-over-year. Inventory is -21% below year ago levels. The average price is up 6% and the median is up twice that amount.