What’s new in the Calgary Real Estate Market this month? We are seeing a significant difference in the performance of the City’s detached and attached and apartment segments in Calgary.

New listings have eased in the City of Calgary but it has not been enough to reduce overall inventory levels. So far in 2016 apartment sales declined 19% over last year while new listings increased by 3%v keeping inventory levels 28% above last year’s levels. Single family home sales decreased 6% over the same time period with sales activity improving the most in the city centre district.

With the abundance of condos hitting the market in 2016, we’ve seen the most significant inventory gains in the under $400,000 market. Meanwhile detached sales are accounting for a larger portion of the sales at 63%.

The detached benchmark is only 3% below last year and similar to last month while apartment prices decreased 7% over last year and are comparable to 2013 levels, before the boom we saw in 2014.

 

Co-written with Martin Breeze, Mortgage Broker, TMG The Mortgage Group