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Detached homes drive Calgary sales growth in October – October 2020 Real Estate Statistics Report

Sunday, November 8th, 2020

Home sales rise along with supply

 

City of Calgary, November 2020

 

With strong gains in the detached sector, October sales in the city reached 1,764 units. This is a 23 percent 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 percent 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 percent lower than last year’s levels and nearly 10 percent below previous highs.

 

View the full report here: October 2020 Statistics Report

 

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Home sales rise along with supply – September 2020 Real Estate Statistics Report

Sunday, October 18th, 2020

Home sales rise along with supply

 

City of Calgary, October 2020

 

September sales activity jumped to 1,702 units, the strongest September total since 2014.

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New listings in September improved over last month, but levels remained comparable to the previous year. The increase in sales relative to new listings did prevent any monthly gains in inventory levels, but supply in the market is still down 12 percent compared to last year.

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“The recent rise in new listings, combined with low lending rates and softness in prices, has helped support some of the recent upward trend in sales,” said CREB® chief economist Ann-Marie Lurie.

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“However, conditions vary significantly based on the price range and property type.”

The adjustment in supply relative to demand has caused the housing market to move toward more balanced conditions. The current 3.7 months of supply represents the most balanced conditions seen for September in over five years. This has helped support some of the recent monthly gains in prices.

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Total residential benchmark prices have trended up over the past three months, resulting in September prices that are similar to prices recorded at the same time last year.

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Despite some of the recent improvements, the impact of COVID-19 is still present. Year-to-date sales remain nearly nine percent below last year’s levels, while city-wide prices are still over one percent lower than last year. Considerable risk also weighs on the housing market due to economic uncertainty and a struggling labor market.

 

View the full report here: September 2020 Report

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August home sales consistent, but COVID-19 impacts continue – August 2020 Real Estate Statistics Report

Sunday, September 20th, 2020

August home sales consistent, but COVID-19 impacts continue

 

City of Calgary, September 2020

 

Total residential sales in August were relatively stable compared to last year with year-over-year gains in the detached and row sectors.

 

These gains offset declines in the apartment and semi-detached products. With 1,573 sales in August, this is consistent with levels over the past five years. Year-to-date sales activity remains nearly 13 percent below last year.

 

“Recent national reports have shown a bounce back to new record levels over the past several months. Calgary has seen improvements over the lows recorded during the lockdowns but is far from record levels,” said CREB® chief economist Ann-Marie Lurie.

 

“The situation in Calgary has been slightly different as the job losses were not isolated to sectors that are typically associated with rental demand. We have started to see improvements in the job market compared to previous months as some jobs start to return.” However, the impact of COVID-19 on the economy is not over.

 

“There have been more than 100,000 jobs lost since last year and Calgary’s unemployment rate sits at 15 percent. This is well above the national average of 11 percent,” said Lurie. New listings are easing and is helping to chip away at existing inventory compared to the higher levels recorded last year. However, the pace of year-over-year decline has eased as inventory levels have trended up relative to levels recorded a few months ago.

 

The months of supply has also risen compared to the past few months and now sits at four months. This gain has slowed some of the monthly gains on prices. The residential benchmark price in August was $420,800 and is nearly one percent lower than last years’ levels.

 

View the full report here: August 2020 Newsletter

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Detached and semi-detached home sales rise, but economic uncertainty remains

Tuesday, August 11th, 2020

Detached and semi-detached home sales rise, but economic uncertainty remains

 

City of Calgary, August 2020

 

With higher sales for both detached and semi-detached product, July sales totals rose above last year’s levels. Despite the improvements in July, year-to-date sales remain 15 percent lower than last year’s levels.

 

“There have been improvements relative to the lowest sales levels caused by COVID-19, but it is too early to say things are shifting back to pre-pandemic levels,” said CREB® chief economist Ann-Marie Lurie.

 

“We are still facing record high unemployment rates, significant government aid, and uncertainty throughout the business community. This will continue in the coming months.”

 

COVID-19 shutdowns occurred over the traditionally busiest quarter for real estate sales. Some of the recent gains reflect activity that would have occurred in those months shifting into July. Some demand is returning to the market, but so is the supply.

 

Inventory levels trended up over the previous month, offsetting some of the sales growth. Higher-density row and apartment products have supply/demand ratios that are well above traditional levels.

 

Higher-than-typical levels of supply relative to sales for higher-density product also had a more significant impact on prices for those product types. Year-over-year price declines ranged from more than eight percent for row properties to nearly three percent for semi-detached and apartment properties.

 

Tighter market conditions for detached properties supported some upward price trends and year-over-year prices were stable compared to the previous year. However, on a year-to-date basis, detached prices remain nearly one percent lower than last year’s levels.

 

View the full report here: August 2020 Newsletter

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Sales decline by two percent from last year amidst COVID-19 pandemic

Thursday, July 9th, 2020

Sales decline by two percent from last year amidst COVID-19 pandemic

 

City of Calgary, July 2020

 

After three months where COVID-19 weighed heavily on the housing market, sales activity in June continued to trend up from the previous month, totaling 1,747 units.

 

Caution remains necessary, as monthly sales are nearly two percent lower than activity recorded last year. However, this represents a significant improvement compared to the past several months, where year-over-year declines exceeded 40 percent.

 

“Recent price declines, easing mortgage rates and early easing of social restrictions are likely contributing to the better-than-expected sales this month,” said CREB® chief economist Ann- Marie Lurie.

 

“However, the market remains far from normal. Challenges, such as double-digit unemployment rates, will continue to weigh on the market for months to come.”

 

New listings in June totaled 3,335 units, a six percent increase over last year. The recent rise in new listings caused inventories to trend up, but they remain well below last year’s levels.

 

Despite some recent monthly gains in supply, sales activity was high enough to cause the months of supply to dip below four months for the first time since May 2019. If this trend continues, it should help to ease the downward pressure on prices.

 

Residential benchmark prices are comparable to last month, but they remain nearly three percent lower than last year’s levels.

 

Housing Market Facts

Detached Sector

  • Sales activity in June totalled 1,092 units. This is an improvement over the past few months and only slightly lower than last year’s levels.

  • Despite citywide declines, year-over-year sales activity improved in the City Centre, North East, North, South East and East districts.

  • June also saw an increase in new listings, which is causing some monthly gains in inventory. However, increased sales offset the rise in new listings, causing the months of supply to trend toward more balanced conditions.

  • Detached benchmark prices remained relatively stable compared to last month but were two percent lower than last year’s levels. Year-over-year price declines were recorded across most districts, with the largest declines in the North West, North East and City Centre districts.

Apartment Sector

  • Apartment sales totalled 227 units in June. This is an improvement from the 136 units last month, but it is still nearly 13 percent lower than last year’s levels and over 30 percent lower than longer-term averages.

  • New listings rose compared to last month and last year. This did translate into some monthly inventory gains, but overall inventory levels remain lower than last year’s levels.

  • The months of supply has come down from the high levels recorded over the past few months.

  • Benchmark prices continued to trend down this month, totalling $240,900. This is a year-over- year decline of nearly four percent.

  • The resale apartment sector continues to be one of the hardest hit in terms of relative declines in both sales and prices.

 

Attached Sector

  • The attached sector has faced the smallest impact from the pandemic. June sales were nearly three percent higher than last year’s levels and remain comparable to longer-term averages. The attached sector has generally benefited from its status as a more affordable alternative to the detached sector.

  • Like the detached sector, the attached sector saw new listings rise compared to both last year and last month. However, the months of supply trended toward more balanced conditions and improved over last year’s levels.

  • Benchmark prices remained relatively stable compared to the previous month, but fell by nearly four percent compared to last year. The higher price decline in this sector could be a contributing factor to the improving sales activity.

 

View the full report here: June Report

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What to Expect When Buying or Selling Real Estate During and After the COVID19 Shut Down

Saturday, June 6th, 2020

In March I celebrated my 33rd year as a licensed real estate practitioner. I can tell you that in 33 years, the real estate industry has never had to deal with a situation quite like the COVID-19 outbreak.
Susanita de Diego Coldwell Banker Complete Real Estate

Real estate is a unique industry

 

Real estate practitioners are salespeople whose job it is to market and sell property, but people live in the ‘inventory’ that they sell. This means that the owners/occupants of properties for sale must regularly allow germy strangers into their homes.

It makes me wonder how many times the owners/occupants of listed homes contracted a cold or the flu from a prospective buyer or Realtor® pre COVID-19.

 

On March 23, 2020 the Alberta Real Estate Association prohibited its members from hosting open houses to protect public safety in response to COVID-19. Real estate has since been deemed an essential service by the Government of Alberta but as of this writing (June 4) the prohibition is still in effect.

 

In the case of Realtor® scheduled showings in Alberta, prospective buyers are accompanied by a licensed professional who must abide by the Rules and Regulations of the Real Estate Act administered by our regulator, the Real Estate Council of Alberta (RECA), as well as the Calgary Real Estate Board (CREB®) Rules, and the Canadian Real Estate Association (CREA) REALTOR® Code of Ethics.

 

The Real Estate Council of Alberta, the Alberta Real Estate Association and the Calgary Real Estate Board have all instituted new recommended protocols for property showings and new forms, checklists and health questionnaires for our use.

 

So what does this mean for someone who is considering either buying or selling a home in Calgary right now?

 

Buyers wishing to VIEW a home for sale…

 

Many Realtor®s are offering virtual showing options which can include real time virtual open houses, pre-filmed virtual walk-throughs, or Realtor® only showings using Facetime, WhatsApp, Google Meet, Zoom, or other video meeting platforms to ‘show’ the buyer the property.

 

For in-person showings, individual brokerages can have different policies. For example:

  • The listing Realtor®’s brokerage may require the buyers to complete a health questionnaire (COVID19 Checklist for Buyers) within enough time to allow the seller to review the questionnaire prior to the showing.
    • If the seller is uncomfortable with the prospective buyers’ or their Realtor®’s answers, the sellers can refuse the showing.
  • If they allow the showing and the home is occupied, the seller may require the buyers to wear masks and gloves and may require a ‘touchless’ showing, where the buyers promise not to touch any surface.
  • The seller/occupant will prepare the property by turning on all of the lights and leaving cupboard doors ajar. Only the Realtor® may touch what is required to access and then secure the property after their departure.

Should an offer be made and accepted, the same process is repeated for inspectors, appraisers and service providers who need access to the property during the conditional period.

 

In general, buyers will need to review the recent sale prices of similar properties, the list price of competing properties and the forecast of market conditions for the market segment of a particular property when choosing an offer value.

 

Search Calgary Homes For Sale

Sellers wishing to LIST a home for sale…

 

As mentioned above, it is important to note that brokerages may have their own policies in place, and may be in addition to the protocols recommended by all of the earlier mentioned governing bodies.

 

During the process of preparing your property for sale you may require that service providers such as photographers, videographers, measurement specialists and stagers complete the (COVID CONTRACTOR Disclosure Form) within enough time for you to review it prior to their visit.

 

The MLS® system remains the same except that more Realtors® are including video links.

Where you will likely experience a change due to COVID-19 is during the marketing process for your home. For instance:

  • Open houses are currently not permitted.
  • Your Realtor® may provide ‘virtual’ open houses or showings.
  • Prior to a showing, you may be expected to turn on all of the lights and leave all cupboard doors ajar.
  • You may be required to complete a health questionnaire (COVID19 Checklist for Sellers Agents) within enough time to allow the buyer to review the questionnaire prior to the showing.
  • You may wish to review the answers from the buyer questionnaire and may accept or refuse the showing based on their answers.

 

Learn More About Selling Your Calgary Home

 

 

All of this is in effort to avoid those tiny little invisible yet potentially dangerous germs.

How much of this will continue to exist when the economy is fully relaunched and if/when a vaccine is available remains to be seen.

 

And now for the question on everyone’s minds…

How will COVID-19 affect the Calgary real estate market?

 

Let me just consult my crystal ball.

 

The real estate market in general in Calgary has been correcting since the peak of 2014. The apartment market segment in Calgary has been correcting since its peak in 2008. The Chief Economist for the Calgary Real Estate Board, Ann-Marie Lurie, in the updated CREB® Calgary Economic & Housing Outlook has predicted that 2020 sales are forecasted to fall by 22% and that the City-wide benchmark price is forecasted to ease by 3% this year.

 

In Canada Mortgage Housing Corporation’s Housing Market Outlook SPECIAL EDITION – SPRING 2020 Forecast it predicts that the Alberta MLS® Average Price will drop 9.67% – 16.14% over the next two years.

Because each market segment, community and price range will experience different levels of impact, it is very important to consult a real estate professional for market specific data.

Weekly sales for homes in Calgary 2020

 

Having said all of that…I have been tracking the number of weekly sales for detached homes in Calgary, in segmented price ranges, since March 1st. In the $500,000.00 and under segment the number of sales from May 24th – May 30th was 123. May 17th – May 23rd recorded 117 sales. These are the highest numbers of weekly sales since March 1st, up considerably from the week of May 10th – May 16th which saw sales of 87. At the time, 112 sales had been the highest number of weekly sales since March 1st and was only 33 sales lower than the same week in 2019. Clearly there is some pent-up demand.

 

To see the chart of sales by price range, CONTACT US and we will be happy to send you the data.

 

In general, sellers will need to be realistic about their list price and should look to the recent sale prices of similar properties, the list price of competing properties and the forecast of market conditions for their market segment when deciding how to price their property.

 

If you have any questions, please reach out to me via email: susanita@cbcalgary.ca or call us at 403-686-1455. I am happy to discuss your unique circumstances at any time.

 

Susanita de Diego

Posted in COVID19, Home Buying Tips, Home Selling Tips | Comments Off on What to Expect When Buying or Selling Real Estate During and After the COVID19 Shut Down

COVID-19’s impact on Calgary housing market continues

Thursday, June 4th, 2020

COVID-19’s impact on Calgary housing market continues

 

City of Calgary, June 2020

Housing market activity in May remained slow, but sales exceeded the lows from April, which saw less than 600 sales in Calgary.

 

May sales totaled 1,080 units, a 44 percent decline from last year’s figures.”The initial shock of COVID-19 and social distancing measure is starting to ease. This is bringing some buyers and sellers back to the market. However, this market continues to remain far from normal and prices are trending down,” said CREB® chief economist Ann-Marie Lurie.

 

“Activity has also shifted toward more affordable product, which is likely causing differing trends depending on product type and price range.”Sales are down in all price ranges, but a greater share of sales are priced below $500,000.In the higher price ranges the drop in inventory has not been enough compared to the drop in sales. Additionally, the months of supply is far higher than the already elevated levels seen during the past five years.

 

The shift in sales toward lower-priced product is contributing to steep average price declines in the Calgary market.

 

Benchmark pricing, which reflects comparisons of the same type of home, has eased by over two percent compared to last year and 0.4 percent compared to last month. This does not come as a surprise as the market continues to struggle with more supply than demand.COVID-19 and social distancing measures have contributed to rising unemployment rates and job losses throughout many economic sectors. This is weighing on consumer confidence and the housing market. Some of this job loss is temporary, but the energy sector remains the largest concern. Significant job loss throughout the typically higher-paid professional and technical services sector points to a longer adjustment period in the housing market, particularly in the higher end of the market.

 

Housing Market Facts

Detached Sector

  • Detached sales eased across the city, with the largest declines occurring in the West district.
  • May sales totaled 670 units. This is a 43 percent decline over the previous year.
  • The decline was met with lower inventory levels. However, it was not enough to change the oversupply situation. Citywide months of supply remained above four months.
  • For the higher-priced districts – the West and City Centre – the months of supply rose to seven months.
  • Detached home prices trended down in May compared to the previous month and remained nearly two percent below last year’s levels. Declines varied across the city, with the highest price declines occurring in the City Centre, West, North West and North East districts.

Apartment Sector

  • Apartment sales totaled 137 units in May, an improvement from the 95 units last month. However, this is still nearly 60 percent below last year’s levels. The pullback in inventory was not enough to offset the slower sales, and the months of supply jumped to 10 months.
  • The benchmark price continued to fall and is now more than two percent lower than last year’s levels. The average and median prices fell at a significant rate. This is because a large share of the sales occurred in the under-$200,000 price range.
  • Benchmark prices eased across all districts, but the year-over-year decline was the highest in the North East district, with declines of over five percent.

 

Attached Sector

  • Mirroring the trend from other property types, sales for attached product slowed by 35 percent compared to last year for a total of 273 units. Inventory levels eased to 1,503 units and months of supply totaled 5.5 months. The months of supply has eased from the levels recorded last month, but it remains elevated relative to historical levels for this time of year.
  • The benchmark price trended down for attached product, declining by nearly one percent over the previous month and nearly four percent compared to the previous year.

 

View the full report here: May 2020 Statistics Report

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Calgary real estate market feeling impact of COVID-19 – April 2020 Real Estate Statistics Report

Wednesday, May 6th, 2020

Calgary real estate market feeling impact of COVID-19

 

City of Calgary, May 2020

After the first full month with social distancing measures in place, the housing market is adjusting to the effects of COVID-19.

 

April sales hit 573 units, a decline of 63 percent over last year. “The decline in home sales does not come as a surprise. The combined impact of COVID-19 and the situation in the energy sector is causing housing demand to fall,” said CREB® chief economist Ann-Marie Lurie. “Demand is also falling faster than supply. This is keeping the market in buyers’ territory and weighing on prices.”

 

Sales activity eased across all price ranges, but the largest declines were for homes priced above $600,000. With a greater share of the sales occurring in the lower price ranges, the average price decline was more than eight percent. Prices for the average home are also declining, reflected by the benchmark price, which fell by nearly two percent compared to last year.

New listings this month totaled 1,425 units, a decline of 54 percent compared to last year. Inventories also declined, but with 5,565 units available, they remained high enough to push the months of supply above nine months.

 

The economic impact of the situation is significant and early indications point toward more job losses and higher unemployment rates. Several government incentives will help cushion the blow, but challenges in the housing market are expected to persist throughout this year

 

Housing Market Facts

Detached Sector

  • Detached sales eased by 15 percent this month, driven by pullbacks in all districts except the North, which remained flat compared to last year.
  • The decline in sales was met with a larger decline in new listings, causing inventories to fall by 17 percent and keeping the months of supply slightly lower than last year’s levels.
  • Detached benchmark prices have remained relatively unchanged compared to last year at $480,800.Price declines this month continue to be the highest for the City Centre, North East and West districts.

Apartment Sector

  • With 217 citywide apartment sales in March, this was the only category to record a year-over-year gain. Much of the gain was due to improving sales in the South, South East and North West districts.
  • New listings this month did ease, helping support a small decline in inventory levels.
  • Persistent oversupply has resulted in continued downward pressure on prices. In March, the citywide benchmark price eased by more than two percent compared to last year for a total of $243,700.

 

Attached Sector

  • Both semi-detached and row sales declined this month compared to last year. Like the other property types, there was also a significant reduction in new listings.
  • The decline in new listings helped push down inventory levels for both property types, but it was not enough to prevent a rise in the months of supply.
  • However, this segment was oversupplied prior to the recent changes, impacting prices. As of March, prices remained nearly one percent lower than last year’s levels for both semi-detached and row properties.

View the full report here: April 2020 Report

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COVID-19 Weighing on Housing Market – March 2020 Real Estate Statistics

Saturday, April 4th, 2020

COVID-19 Weighing on Housing Market

 

City of Calgary, April 2020

 

After a strong start to 2020, economic conditions have dramatically changed, as COVID-19 is impacting all aspects of society. The economic impact is starting to be felt across many industries. This includes the housing market.

 

March sales activity started the month strong, but quickly changed, as concerns regarding the spread of COVID 19 brought about social distancing measures. This had a heavy impact on businesses and employment.

 

“This is an unprecedented time with a significant amount of uncertainty coming from both the wide impact of the pandemic and dramatic shift in the energy sector. It is not a surprise to see these concerns also weigh on the housing market,” said CREB® chief economist Ann-Marie Lurie. By the end of March, sales activity had fallen 11 percent compared to last year. This is 37 percent lower than long-term averages. The drop in sales pushed March levels to the lowest recorded since 1995.

 

“The impact on the housing market will likely persist over the next several quarters,” said Lurie. “However, measures put in place by the government to help support homeowners through this time of job and income loss will help prevent more significant impacts in the housing market.” New listings dropped by 19 percent this month. This decline in new listings compared to sales caused supply levels to ease and helped prevent a larger increase in oversupply. Overall, the months of supply remain just below five months, similar to levels recorded last year.

 

Prices were already forecasted to ease this year due to oversupply in our market. In March, the citywide benchmark price was $417,400. This is nearly one percent lower than last year’s levels. The reduction in both sales and new listings should help prevent significant price declines in our market. However, price declines will likely be higher than originally expected due to the combined impact of the pandemic and energy sector crisis.

 

Housing Market Facts

Detached Sector

  • Detached sales eased by 15 percent this month, driven by pullbacks in all districts except the North, which remained flat compared to last year.
  • The decline in sales was met with a larger decline in new listings, causing inventories to fall by 17 percent and keeping the months of supply slightly lower than last year’s levels.
  • Detached benchmark prices have remained relatively unchanged compared to last year at $480,800. Price declines this month continue to be the highest for the City Centre, North East and West districts.

Apartment Sector

  • With 217 citywide apartment sales in March, this was the only category to record a year-over-year gain. Much of the gain was due to improving sales in the South, South East and North West districts.
  • New listings this month did ease, helping support a small decline in inventory levels.
  • Persistent oversupply has resulted in continued downward pressure on prices. In March, the citywide benchmark price eased by more than two percent compared to last year for a total of $243,700.

Attached Sector

  • Both semi-detached and row sales declined this month compared to last year. Like the other property types, there was also a significant reduction in new listings.
  • The decline in new listings helped push down inventory levels for both property types, but it was not enough to prevent a rise in the months of supply.
  • However, this segment was oversupplied prior to the recent changes, impacting prices. As of March, prices remained nearly one percent lower than last year’s levels for both semi-detached and row properties.

 

View the full report here: March 2020 Report

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Home Sales See a Bump – February 2020 Real Estate Statistics

Friday, March 6th, 2020

Home Sales See a Bump

 

City of Calgary, March 2020

 

This month saw a double-digit gain in sales, but last February was one of the slowest levels of activity since the late ’90s.

With the extra day this February, monthly sales totaled 1,197 units. A combination of these two factors resulted in a 23 percent improvement over last year, but sales remain well below longer- term trends and consistent with the lower levels reported over the past five years.

“However, this should not diminish the fact that conditions are still improving,” said CREB®chief economist Ann-Marie Lurie.

“Calgary is continuing to see slow reductions in the amount of oversupply in the market, from modest changes in demand and reductions in supply. This needs to occur before we can see more stability in prices.”

The overall unadjusted benchmark price was $416,900 in February. This is similar to last month, but nearly one percent below last year’s levels. Overall, prices remain nearly 11 percent below the monthly high recorded in 2014.

Housing Market Facts

Detached Sector
 

  • After the first two months of the year, detached sales improved by nearly 12 percent. Improvement did not occur across all districts, as sales continued to ease in the City Centre, North East and North West districts.
  • Driven by pullbacks mostly in the south and west districts, new listings declined by one percent in the city so far this year.
  • Improving sales and easing new listings helped reduce inventory levels and reduced months of supply to just below four months in February. This is a significant improvement over the more than five months recorded last February.
  • The benchmark price continued to trend down this month for detached homes, but the pace of decline is easing. Citywide detached prices remain less than one percent lower than last year’s levels, but price movements vary significantly by district, ranging from a three percent decline in the City Centre to a two percent increase in the South district.

Apartment Sector

  • For the second month in a row, improving sales were met with gains in new listings. This is causing inventory gains.
  • Sales levels were high enough to cause the months of supply to ease, but the persistent oversupply in the market continues to weigh on prices.
  • February benchmark prices eased compared to the previous month and is over two percent lower than last year’s levels. The overall benchmark apartment price of $244,700 in February is nearly 19 percent lower than 2014 monthly highs.

Attached Sector

  • After the first two months of the year, rising attached sales and easing new listings caused inventories to decline.
  • February months of supply is now below five months, an improvement compared to the past two years.
  • Conditions continue to favour the buyer, but improvements have helped reduce the downward pressure on prices. However, divergent activity continues based on location, as prices declined across most districts, but improved in the West, South East and East districts of the city.

Download the full report here: February 2020 Report

Posted in Home Buying Tips, Home Selling Tips, Monthly Real Estate Stats | Comments Off on Home Sales See a Bump – February 2020 Real Estate Statistics

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