Courtesy of Ryan Torris

City of Calgary, November 1, 2019 – Sales activity in October improved by nearly 10 per cent compared to last year, driven mostly by improvements for apartment and attached product. New listings also eased, which helped reduce inventor y levels and the oversupply in the market. Despite the move to more balanced conditions, the market remains oversupplied and prices continue to remain below last year ’s levels. “Employment has shifted in the city, with job growth occurring in our non- traditional sectors and often at a different pay scale. This is consistent with the shift to more affordable housing product,” said CREB ® chief economist Ann-Marie Lurie. This is a market where signs of improvement are not consistent across all product types and price ranges. Improvements in sales are occurring in the lower price ranges across all product types. This is not yet translating into price shifts, as persistently elevated supply levels continue to place downward pressure on prices. As of October, citywide unadjusted benchmark prices were $422,900, just below last month’s levels and two per cent lower than last year ’s levels. Source: CREB ® HOMES UNDER $500,000 MOVING TO MORE BALANCED CONDITIONS

CALGARY

AIRDRIE

BENCHMARK PRICE Current: $422,900 Last Mo.: -0.47% Last Yr.: -2.17%

BENCHMARK PRICE Current: $336,700 Last Mo.: 0.63% Last Yr.: -1.00%

DAYS ON MARKET

DAYS ON MARKET

88

56

NEW LISTINGS

NEW LISTINGS

2,375

138

ACTIVE LISTINGS

ACTIVE LISTINGS

6,493

446

SOLD LISTINGS

SOLD LISTINGS

1,447

95

Stats Reflective of October 2019 Source: CREB ®

Stats Reflective of October 2019 Source: CREB ®

Market values stated are of the average 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.

Market values stated are of the average of Airdrie. 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.

Please spread the word! Have friends or family moving? Don’t hesitate to pass them my info. P.S. I always take good care of my referring clients!

R yan T oRRis Real Estate Agent, 1forAll Charity Contributor, SRES ® , REALTOR ® 403.710. SOLD (7653) concierge@blackrockre.ca www.blackrockre.ca @blackrockre

201, 120 2nd Ave NE Airdrie, AB T4B 2N2 , n v E ir ri , B T B

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