CALGARY REAL ESTATE MARKET UPDATE - October 2020
Welcome!
I'm Jenny Alvarez Barrera with EXP Realty.
Your Monthly Market Stats are here and it’s evident we’ve been slaying houses all month long💥
Watch the video to see the numbers on each product 🔎
Read more here👇🏼
City of Calgary, November 1, 2020 –
✨Detached homes drive Calgary sales growth in October ✨
🔥With strong gains in the detached sector, October sales in the city reached 1,764 units. This is a 23 per cent increase over last year and well above longer-term averages.
⚡️The gain in citywide residential sales outpaced the growth in new listings, supporting tighter market conditions and improving prices.
🏦”Over the past several years, higher lending rates and the stress test pushed many out of the detached housing market.
💲However, recent declines in rates, combined with prices that are lower than several years ago, have brought back some of that demand,” said CREB® chief economist Ann-Marie Lurie.
🏡”This is helping support more balanced conditions and price improvements in the market. However, price improvements are not occurring across all product type and price ranges and downside risk still hangs over future conditions.”
📆Improving sales over the past four months were not enough to offset the pullbacks in the second quarter, leaving year-to-date sales nearly six per cent below last year’s levels.
💵The same is also true for prices. Benchmark prices have trended up over the past four months and October prices were slightly higher than 2019.
🏘On a year-to-date basis, prices are one per cent lower than last year’s levels and nearly 10 per cent below previous highs.
🚪 Not sure how this affects the price of your home? Reach out for a No Obligation Free Home Evaluation.
🔑 And if you are in search of a new place to live, I’m your gal!
📱403.399.7407
🔑Jenny Alvarez Barrera
🏡EXP Realty of Canada Inc .
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