Photo: Willem van Valkenburg/Flickr
For the fifth consecutive month, Calgary home sales fell by more than 20 per cent year-over-year. According to data from the Calgary Real Estate Board (CREB), 2,190 homes changed hands across the Multiple Listing Service (MLS) in May, down 25.5 per cent from the same month a year ago.
Broken down by property type, the single-family home market saw a 23 per cent decline in sales, condo transactions were down 30 per cent and townhome sales fell by 28 per cent year-over-year.
The good news is, for the first time since December, the benchmark price improved over the previous month. Within the city of Calgary, housing prices totaled $454,100 in May, a monthly and year-over-year increase of 0.55 and 0.96 per cent. The average sale price fell 1.5 per cent to $478,790 while the median home price was virtually flat, dipping 0.26 per cent to $433,000 compared to $434,150 in May 2014.
New listings fell by nearly 27 per cent in May — 3,161 compared to 4,311 a year earlier — while active listings climbed 18 per cent. Homes in Calgary are also taking longer to sell. The average number of days on the market rose from 27 in May 2014 to 40 days in May 2015.
For more, the complete CREB statistics package can be found here.