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Statistics Signal Strong Start for Calgary Real Estate in 2021!
Dated: February 3 2021
The Calgary Real Estate Board has released the statistics for Calgary and surrounding areas for January 2021.
Exceptionally low interest rates have contributed to improved sales activity across all price points and property types. In fact, the 1,208 sales for the month of January are the highest since 2014!
Home buyers had slightly more selection with 2,246 new listings compared to listings available in the final two months of 2020. However, the inventory of 4,035 units is far lower than it has been in the past 6 years.
Overall Benchmark prices remain consistent with those recorded at the end of 2020 and are up 1.85% from last year. The average and median prices are higher than 2020 pricing since there were more sales at the higher end of the market which is currently not constrained by inventory as the lower price point is.
Limited inventory for homes under $500,000 has created a “Sellers’ Market” which has decreased overall sales activity in this price range. For homes priced over $500,000 the sales activity has improved as there is greater selection.
Citywide there is just over 2 months of supply which has decreased significantly since January 2020 where supply sat close to 5 months.
Total sales in the semi-detached market have increased over last year from 84 to 141 units. Inventory is well below last years’ levels and months of supply are currently sitting at 2.40 versus 6.86 from a year ago.
Pricing does vary according to the location within the city however overall the Benchmark price is 1.27% higher that last year however oncer again there are nuances depending on locale.
Both new listings and sales have trended up in this category, compared to last month and even last year. Months of supply sit at 4.65 down from 6.76 at this time last year. Pricing has remained relatively stable in this category however there are variances depending on location in the city.
For the third straight month sales in this category have improved and when compared to January 2020 they sit at 186 vs 147. January levels are on par with 2014's. There are 552 new listings down just under 3% from 2020 levels. This leaves inventory levels at 1,317, months of supply at 7.08, and the Benchmark price relatively stable at $245,100 compared to $246,100 in January 2020.
Source: Calgary Real Estate Board
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