The Calgary real estate market is currently characterized by a rising inventory, balanced conditions, and strong sales activity. While some areas show signs of cooling, the overall market remains robust.
Here's a more detailed look:
Inventory:
Inventory levels are increasing, with the months of supply reaching 2.2 months, the highest level since the end of 2022.
Sales Activity:
Sales remain strong, although they have eased slightly from record highs. March sales were the sixth strongest in the last 15 years.
Prices:
Average home prices are increasing, with the average home price reaching $646,743. Detached homes are experiencing a 5.4% increase to $839,000.
Market Conditions:
While conditions are considered balanced, activity varies by location. The North East district, for example, has the highest months of supply, resulting in a price decline, according to the CREB.
Future Outlook:
Housing demand is expected to remain strong, with sales forecasted to exceed 26,000 units, according to CREB.
If you are thinking of selling or buying, give me a call. I would be more than happy to work with you!
Gerard at 403-703-5548
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