Calgary resale housing remains hot in September

Sales in Calgary’s resale housing market continued to soar in September, nearing the record high for the month which was established in 2005.

The Calgary Real Estate Board reported Friday that MLS sales during the month of 2,162 were up by 26.73 per cent compared with September 2020.

“While sales activity in the fall tends to be slower than in the spring months, the continued strong sales are likely being driven by consumers who were unable to transact earlier in the year when supply levels had not yet adjusted to demand,” said Ann-Marie Lurie, CREB’s Chief Economist.

“The market continues to favour the seller, but conditions are not as tight as they were earlier this year.”

The total residential benchmark price in Calgary of $457,900 in September rose by 8.58 per cent.

CREB said supply adjustments have helped ease the upward pressure on home prices. Prices have eased slightly relative to a few months ago, but they remain well above levels recorded earlier in the year. 

Here are some of the key numbers from the monthly data and the percentage change from a year ago:

–  Dollar volume, $1 billion, +28.99 per cent;

–  New listings, 2,907, +6.25 per cent;

–  Inventory at end of the month, 5,607, -10.26 per cent;

–  Months of supply, 2.59, -29.19 per cent;

–  Sales to new listings, 74.37 per cent, +12.02 per cent;

–  Sales to list price, 97.17 per cent, +0.56 per cent;

–  Days on market, 44, -19.10 per cent.

All stats can be found here.

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