Existing home sales in Calgary were down 27 per cent year-over-year in August and 12 per cent below the 10-year average for the month, according to the latest data from the Calgary Real Estate Board (CREB).
“Persistent weakness in the energy sector weighed on sales activity this month, which once again retracted to levels well below the norm for the city,” said CREB chief economist Ann-Marie Lurie in a release.
The apartment/condo sector had a particularly tough month with sales down nearly 39 per cent year-over-year and the average sale price falling 10 per cent. However, the benchmark price — which CREB says best represents typical properties sold — for a condo was down only one per cent in August.
The benchmark price for all housing types in the city — single-family homes, townhomes and condos — was virtually flat, dipping 0.09 per cent from August 2014 to August 2015.
Here’s the year-over-year benchmark price comparison for each property type.
And the 12-month trajectory of home sales in the city.
For more on the August housing figures, the full statistics package can be seen here.