Overall sales in the city over the last few months have rebounded. Market activity is now on par with last year. However keep in mind, that sales last year were quite bad. The
October 2018 - Calgary Real Estate News Flash
We are in a buyer's market.
Almost 600 listings were taken off the market last month due to being terminated or expired. That's about 7% of the total listings in Calgary. However, the market is still oversupplied for the current demand (it would take over 6 months for only the current listings to be absorbed by buyers).
Sales of detached homes are down over 20% compared to the 10-year average.
Sales of apartment condos are down over 20% compared to long-term averages.
Sales of townhouses are down 14% compared to long-term averages.
There are 15.48% more homes for sale right now than at this point last year. Sales have dropped by 14.21% compared to an already weak 2017. Average prices are down 0.96%.
Compared to this time last year:
- Sales of detached homes are down 15% Average price is up 0.14%. There are 24% more detached homes for sale (over 4,300) this year than at this point in 2017.
- Sales of townhouses are down 15%. Average price is down 2.25%. There are 22% more townhouses for sale (over 1,900) this year than at this point in 2017.
- Sales of apartment condos are down 6%. Average price is down about 0.32%. However, there are 8% less apartments for sale (about 1,600) this year than at this point in 2017.
My goal is to help my clients sell or purchase their home in Calgary for a favorable price, armed with accurate and impartial market data. I am a keen, loyal and hardworking agent who believes in buil....
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