Good morning everyone! I hope you’re all staying warm & safe. Here’s a market update before the month-end stats are released on Monday:
There have been 1726 sales month-to-date which surpasses last November’s month-end total. That makes it the 20th consecutive month of year-over-year sales growth dating back to April 2013. By month’s end, sales will reach the 3rd highest November tally on record. (2005: 2,229; 2006: 1,992; 2004: 1,740)
The average and median price currently sit at $485,016 and $429,000 respectively compared to $457,896 and $407,000 from the same period a year ago (+5.92%/$27,120 and +5.41%/$22,000). Both the average and median price for the City of Calgary have been up on an annual basis for 34 straight months including this one, going back to February 2012.
A very interesting article was posted by Rentfaster on their blog yesterday responding to Mayor Nenshi’s comments as well as the CMHC rental statistics.
An excerpt: “There are more active rentals than there have been in the past 3 years. However, the majority of the new supply is situated in the higher price range for higher-income individuals.” Read the entire post here.