Chestermere Real Estate Market Report: July 2015

chestermere

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 pdf

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