04/04/2023
๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ | ๐๐๐ซ๐๐ก ๐๐๐๐
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 itโs 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 sellerโs 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 todayโs market. If you are looking to buy and sell please give me a call!
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