Sales remain stronger than pre-Covid levels!
Here is a summary of Benchmark housing prices by sector:
Row Housing: price is unchanged since April and up by 15% year over year. (y/y)
Semi Detached: price is back to February prices… it is down by 4.4% since the peak in May, however prices are still up by 8%y/y.
Apartment: price is more or less unchanged since May and is up by 10% y/y.
Detached: prices are back to where they were in February and down by 4% since the peak in May. Year/year prices are up by 10.4%.
It can be seen that there was a large price increase in the months of January and February this year. We have had a level to slightly downwards trend since then. This is due to an increasing interest rate environment. Calgary will fare much better than the other major centers of Canada. This is due to a much stronger employment position and starting from a lower price compared to some of the other major centers.
As always for specifics of location and property type please give me a call.
Wishing you all the best as we enter the late fall season.