July was a tough month for Chestermere as residents had to cope with flooding, hail & power outages.
Home sales during the month totaled 32, barely over half what sold in June (63) and off -30% from last July (46).
In a small municipality like Chestermere, the monthly stats can be fairly volatile, especially when looking at prices. So while the average price was up +10% y/y and the median +13.1%, the benchmark price (not skewed by high or low sale prices) was up a more realistic 5.8% which better reflects market conditions. The 5.8% is the lowest annual growth since December 2013, highlighting how strong the market has been for the past year and a half.
Expect price growth to continue slowing as the inventory absorption rate (4.19 months) and sales-to-new-listing ratio (48%) points to a buyer’s market.
In other news, the results of the 2015 census are in showing that Chestermere’s population has reached 18,496 – a 7.5% jump from last year. (Continue reading more here…)
You can download the City of Chestermere historical stat package along with additional charts here 
