Market imbalance in Calgary’s residential resale housing market continue to weigh on citywide prices in April
Much like the previous month, year-over- year sales fell while new listings increased, resulting in inventory gains across all sectors of the market.
As a result, benchmark prices in the city declined by 0.4 per cent from last month, and 3.4 per cent from last year, to $441,000. (Source: Calgary Real Estate Board)
“For sellers, the reality of seven consecutive months of price declines has started to sink in”, said CREB® president Cliff Stevenson.
There is finally good news! In every reported market segment we have seen an increase in the absorption rates! Some market segments are performing better than others, and we are definitely not out of the woods, but the market is moving in a recovery direction!
For those who are selling, it is vital to know how the market is performing for your specific type of property! For those who are interested in investing in real estate, this is an ideal market! Interest rates continue to favour borrowers.
If you are curious about the investment market or the current market value of your home, please feel free to contact us.
Hope this helps!
Susanita de Diego
If you are curious about the investment market or the current market value of your home, please feel free to contact us.
Download Calgary and Area Real Estate Statistics – April 2016
Hope this helps!
Susanita de Diego
