Calgary home sales soared 462% to an all-time high in April: CREB – fr

Calgary home sales soared 462% to an all-time high in April: CREB – fr

Calgary set a new record for home sales in April as the market continued to rebound from lows triggered by the COVID-19 pandemic, the city’s real estate board said on Monday.
The Calgary Real Estate Board said 3,209 homes were sold in the city in April, up from 571 in the same month last year, when economic shutdowns led to a massive drop in sales.

He said the recent surge in home sales came as the market entered the third wave of COVID-19, suggesting optimism was building around housing and the economy recovering even as the crisis hit. sanitary conditions worsened.

The surge in the past month is likely the result of potential buyers’ willingness to “enter the market before further changes occur in prices, interest rates and lending policy,” he said. CREB chief economist Ann-Marie Lurie in a press release.

“It could erode some of their purchasing power. “

For now, buyers have more properties to choose from than at the start of the pandemic.

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The latest CREB figures show that new listings climbed 227 percent to 4,670 in April, from 1,425 in the same period last year.

The town’s inventory stood at 6,070 homes, an increase from 5,645 in the previous April.

However, the number of available homes was still less than two months of housing supply and CREB said demand was strong enough to absorb it, “ensuring the market continues to favor the seller.”

These sellers were able to charge more for their homes as prices increased during the month.

The benchmark housing price climbed to $ 451,400 in April, from $ 413,200 in the same period last year, CREB said.

The average price rose more than 20%, from $ 423,338 to $ 509,294 last April.

Single-family homes hit a new record for the month with 2,046 sales in April and their benchmark price rose to $ 529,100 – almost 11% higher than last year and more than $ 30,000 above levels recorded in the month. early 2021.

The condominium and apartment market also looked strong in April.

The category has sold 1,280 so far this year, making it the highest level of sales in the past six years.

New listings also remained high from historical levels, as inventory levels continued to rise and prices moved higher.

The benchmark price for condos and apartments was $ 251,900 in April, up more than 3% from last year.


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