Price growth persists in Calgary as Seller’s market prevails

Sales in April rose by 7% compared to last year, to 2,881 units. While the pace of growth did ease compared to earlier in the year, sales remain 37% higher than long-term trends for the month.

Much of the growth in sales has occurred for relatively more affordable, higher-density products.

At the same time, there were 3,491 new listings in April, an 11% gain over last year but only 3% higher than long-term trends.

The rise in new listings compared to sales prevented any further deterioration of the inventory situation. However, with 2,711 units in inventory, levels are 16% below last year and half of what is traditionally seen in April.

With a sales-to-new-listings ratio of 83% and a months of supply of less than one month, conditions continue to favour the seller, driving further price gains in the market.

In April, the unadjusted total residential benchmark price reached $603,700, a one per cent gain over last month and nearly 10% higher than last year's levels.

Price gains occurred across all property types and districts of the city. The strongest price growth occurred in the more affordable districts of the city.

For those contemplating selling, I can provide a comprehensive market analysis to show just how much your property has appreciated in value and discuss strategic pricing to attract serious buyers quickly. Let's connect today!