We all know Calgary smashed its luxury home sales record in August, but the impressive numbers were not limited to the high-end market.
According to the latest data from the Calgary Real Estate Board (CREB), total MLS sales for August were up 27.53 per cent from last year, the average price rose by 8.8 per cent to $453,752; new listings were up by 7.39 per cent to 2,774; active listings were down by 24.81 per cent to 3,898; days on market fell by 17.78 per cent to 38; and the benchmark price, which looks at typical properties that have sold, reached $417,300, a 7.63 per cent jump from last year.
“Housing demand has been supported by another year of strong migration levels, improving employment and wage growth,” said chief CREB economist Ann-Marie Lurie.
“While recent increases in lending rates may require purchasers to adjust their expectations, Calgary remains a relatively affordable Canadian city. Our affordability, combined with a positive economic outlook is expected to support demand growth for the remainder of the year,” she continued.
Click here to read the full CREB report for yourself.