Courtesy of Lindsay Lerner

Sales continue to surge as listings rise

$257,500 apartment UP 5.0% year-to-year

$596,400 detached UP 19.0% year-to-year

2,874

$321,100 rowhouse UP 13.22% year-to-year

BENCHMARK PRICES

693

4,652 NEW LISTINGS

single family detached row

25 DAYS ON MARKET

71.04% SALES TO NEW LISTING RATIO

ACTIVE LISTINGS (residential inventory) 3,600

3,305 SOLD LISTINGS

Calgary, March 1, 2022 – Thanks to a surge in new listings, sales activity reached a record high for the month of February with 3,305 sales. The rise in new listings caused adjusted inventories to rise above last months levels. However, with only one month of supply, the market continues to favour the seller. “Sales have been somewhat restricted by the lack of supply choice in the market. While sellers did respond with a record level of new listings this month, the demand has been so strong that the housing market continues to remain undersupplied causing further price gains” said CREB® Chief Economist Ann-Marie Lurie. The total residential benchmark price for the city rose by nearly six percent over January levels and was over 16 percent higher

than levels recorded last February. Much of the growth has been driven by the detached segment of the market which has not seen conditions this tight in over 15 years. This is the fourth consecutive month that the market has dealt with conditions that are far tighter than what the city experienced last spring. While the gains in new listings will help provide choice to purchasers and eventually support more balanced conditions, it will take some time to work through the demand in the market. Statistics reflect market activity in February 2022 | Source: CREB ® Calgary Real Estate Board. Market values stated are of the benchmark of the city of Calgary. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

LINDSAY LERNER , B.COMM REAL ESTATE AGENT

The greatest compliment my clients can give me is the referral of family and friends! 403.585.1968 linlerner@gmail.com

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