Single family home sales increased in the second week of August but still eased off further from last year’s month-to-date total. Between August 1-14, a total of 484 homes sold which was a decline of -5.47% year-over-year. It’s the first time since February that sales are down y/y after two weeks into a month.
If this sales pace continues it will be the second slowest August dating back to at least 2002.
Luxury sales have cooled as well with 9 homes selling for $1M or more compared to 17 during the same time period last year.
Despite nearly half as many high-end homes selling, the average price is off only -1.27% to $457,983. The median price is down -0.5% from $409,500 to $407,500.
The Calgary condo market is picking up the sales slack with activity up +22.6% from last year. A total of 233 units (124 apt-style, 109 townhomes) have sold so far in August with apt-style showing the largest price gains.
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