Calgary home sales have surpassed 2013’s year-end total and are on track for the 4th best year on record.
A total of 24,011 properties have sold on MLS® year-to-date, already 2.3% more than the 23,474 sales for all of 2013. Only 2005, 2006 & 2007 have had more sales (See chart below)
A combination of factors has boosted Calgary real estate sales to the highest level since 2007:
- Despite prices in the city rising at a faster clip than anywhere else in Canada, low interest rates and high earnings have helped keep affordability in check.
- Record population growth and net migration due to favorable economic conditions.
- The combination of low vacancy and high rents has persuaded many tenants to decide it was time to buy.
- YTD new listings have risen 12% y/y and current inventory levels are 20% higher than a year ago. Increased selection coupled with continued demand has resulted in more sales