You’ve heard it before: there simply aren’t enough single family homes for sale to meet demand and move the market into balanced territory.
April month-end inventory was down -17.88% y/y, the lowest level for the month since 2006 and second lowest in over a decade. The 8% rise in sales only served to exacerbate the market imbalance which remained firmly in seller’s control.
Across all of Calgary’s quadrants, single family homes that sold were on the market for an average of only 26 days or less.
While Zone A (predominantly NW Calgary) recorded the most transactions with 600 during the month, it was the SE community of McKenzie Towne that once again was the most active with 55 single family sales and a DOM of only 18. The benchmark price of a McKenzie Towne single family home increased 11.3% y/y in April.
Cranston had the most homes available for sale with a month-end inventory of 79. However, the local market was brisk with 50 sales that had a DOM of 25. The benchmark price was up 9.58 y/y.
How was the real estate market in your neighborhood during April?
Download the April report to view the statistics in your community: click here
If you have any questions or are interested in buying or selling ahome, contact me at 403-554-2284 or at firstname.lastname@example.org