03/05/2024
In February, we saw the total number of new listings increase to 2,711 units. This rise in new listings contributed to a 23% increase in sales compared to last year, totaling 2,135 units. Consequently, the sales-to-new listings ratio remained high at 79%, keeping inventories close to historic lows. According to Ann-Marie Lurie, Chief Economist at CREB®, purchasers are acting swiftly when new supply enters the market, preventing inventory growth. This strong demand and low supply continue to drive price gains in Calgary. The main supply challenge is for homes priced under $500,000, where inventories dropped by 31% compared to last February. However, we are starting to see a gradual increase in supply levels for higher-priced homes, leading to more balanced conditions in the upper end.
Curious to know about the market stats in your area? Feel free to contact me anytime!
Teresa Lindgren - REALTOR®
📞 (587) 718-3004
📧 [email protected]
🌐 www.welcomehomecalgary.com
💎 Diamond Realty & Associates Ltd.
