While oil prices have recovered somewhat to around the $50 a barrel mark, the economy in Calgary is still struggling. However the price of homes is fairly steady despite the fact that there are a lot of listings on the market.
In the single family home market the average price of $562,196 was actually up by 3.9% when compared to April of this year, and up by 3.7% compared to last May. However, sales were down by 10.6% with only 1,217 houses being sold out of 3,009 active listings. It took on average about 39 days to sell a single family detached home in May.
In the condo sector the average price was $312,341 which is an increase of 3.1% compared to last month, and an increase of 4.8% compared to May of 2015. Again sales were down by a whopping 23.4% with 1,609 active listings and just 275 condos sold. The average days on market for condos in May was 49 days which is quite high.
Check out the infographic for more details
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