04/04/2023
𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 | 𝐌𝐚𝐫𝐜𝐡 𝟐𝟎𝟐𝟑
Inventory levels have improved slightly however, the 3,233 available units reflected the lowest March inventory levels since 2006 and left the months of supply just above one month, which favours the sellers. Low inventory levels leave purchasers with limited choice and it’s driving up home prices.
The benchmark price reached $541,800 in March, a 2% gain over last month and nearly 1% higher than prices last year. Prices remain below the May 2022 high of $546,000, but the price gains over the first quarter have been stronger than expected due to the persistent seller’s market conditions.
The market challenges in Calgary remain centered around a supply issue. Existing homeowners may be holding off listing due to higher interest rates or the fear of not finding a suitable home if they do sell.
I have already had success with many buyers finding a home this year in today’s market. If you are looking to buy and sell please give me a call!
𝐓𝐚𝐦𝐚𝐫𝐚 𝐒𝐭𝐞𝐚𝐫𝐧𝐬 | 𝐂𝐞𝐧𝐭𝐫𝐚𝐥 𝐂𝐚𝐥𝐠𝐚𝐫𝐲 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞 𝐆𝐫𝐨𝐮𝐩
𝐑𝐄𝐀𝐋 𝐁𝐫𝐨𝐤𝐞𝐫
📱403-390-7183
⌨️ [email protected]
🌐 www.centralcalgary.com