Despite the pandemic, Calgary’s Real Estate Market’s hot streak continued in October! Substantial increases were experienced in the detached home sector, which contributed to total October sales improving 23% over last year.
The gain in citywide residential sales outpaced the growth in new listings, supporting tighter market conditions and improving prices. Increased sales and buyer demand have been supported by historically low lending rates and prices that are lower than several years ago.
Benchmark prices have trended up over the past 4 months and were slightly higher than last October. On a year-to-date basis, prices are one per cent lower than last year’s levels.
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