The stock market is correcting, oil prices are falling and the loonie is tumbling to multi-year lows – and Calgary’s real estate market is on track for a record October. Go figure.
Month-to-date sales are up 10.65% year-over-year to 977, and just a smidge above October 2005’s peak pace of 963 sales.
The overall market remains in seller’s territory with only condo-apartments looking balanced at this point, and we’re seeing annual price gains across all three housing categories.
Calgary’s high-end market is still booming and is only two sales away from setting a new annual record. A total of 725 properties have sold for $1M+ YTD at the time of writing, compared to 726 for all of 2013. Caveat: I noticed an entire townhome complex sold for a couple million dollars, but the agent posted the sale three separate times (The units were originally listed separately, but then they were sold altogether in a package deal) I’ve sent a data error report to the audit dept.