Increased sales combined with easing listings last month have resulted in reduced housing inventories and better market dynamics overall. While sales were primarily driven by homes priced below $500,000, this is a step in the right direction for our local housing markets. Our prices are still below last year’s levels by 2.5%, but the rate of decrease has slowed. So yes, it is still a buyer’s market but things are starting to turn.
In reviewing stats from last month, we can see that Calgary had 7044 active listings on the market, and 1584 sold … which means that at the rate buyers are buying it will take 4.5 months to sell what currently is listed. In Okotoks, there were 227 active listings on the market with 52 sold … which means that at the rate buyers are buying in Okotoks it will take just 4.4 months to sell what currently is listed. For three consecutive months now we have seen improved sales activity! Our year over year prices are still down, but the months of supply in both Calgary and Okotoks have improved substantially.
See the exact breakdown of stats below. And, for more information about your specific neighbourhood please connect with Andrea directly!
