Prices continue to be relatively stable despite the constant barrage of negative stories about Calgary in the national media such as the Globe and Mail. Yes, listings are up dramatically over this time last year but prices have not gone down too much yet. However, it is inevitable that there will be downward pressure on prices if all those listings don’t sell. This is good news for buyers that are used to having to jump at the first good home they see. Now, they can be patient and find something that meets their needs at a price they feel comfortable with.
In the single family detached market, there were 1,084 houses sold in the month of march which is down by 28% when compared to March of 2014. Prices are hanging in there with an average sold price of $546,021 which is down slightly from this time last year when the average was $557,976. It took 37 days to sell a house in March and there were 3,016 listings.
On the condo side there were 303 sales with an average price of $306,575 which is down by 1.35% when compared to March of 2014. It took 44 days to sell a condo which is up quite a bit from last year at this time when it only took 31 days. There were 1,419 active condo listings which is a whopping 88% increase over March of 2014
All data is sourced from CREB®
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