Can you say Market Shift?
The Calgary city market is heating up due to less inventory being available in October. Condominium property sales are now accounting for 40% of the whole single family market.
Single-family home inventory on our Calgary MLS® System broken down:
• detached homes:
1,739 Active + 318 Pending Sales = 2,057 Available Inventory
961 Sold in last 30 Days = 2.14 months of supply
• apartment condo homes:
1,034 Active + 169 Pending Sales = 1,203 Available Inventory
438 Sold in last 30 Days = 2.75 months of supply
• town homes:
377 Active + 120 Pending Sales = 497 Available Inventory
322 Sold in last 30 Days = 1.54 months of supply
• semi-detached homes (½ duplexes):
290 Active + 59 Pending Sales = 349 Available Inventory
167 Sold in last 30 Days = 2.09 months of supply
• Total Market:
3,447 Active + 670 Pending Sales = 4,117 Available Inventory
1,888 Sold in last 30 Days = 2.18 months of supply
• Condominium properties (only):
1,394 Active + 303 Pending Sales = 1,697 Available Inventory
766 Sold in last 30 Days = 2.22 months of supply
[source: creb, Pillar-9, 2022-10-28]
A normal, and highly desirable, “balanced” market has between 2 and 4 months of inventory supply.
___________________________
Tom Bushey,
Associate Broker & REALTOR®
RE/MAX iREALTY INNOVATIONS
403-860-8291
Tom@TomBushey.ca
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