Home Trends from Tracy Warrington

TRACY WARRINGTON

Persistent sellers’market conditions drive up prices

AVG. SALE PRICE Single Family Dwelling $585,922

AVG. SALE PRICE Condo $285,713

ACTIVE LISTINGS 3922

DAYS ON MARKET 46

City of Calgary, Dec. 1, 2021 - Driven by growth in demand for all property types, there were 2,110 sales in November, just shy of the record for the month set in 2005. “Lending rates are expected to increase next year, which has created a sense of urgency among purchasers who want to get into the housing market before rates rise,” said CREB® Chief Economist Ann-Marie Lurie. “At the same time, supply levels have struggled to keep pace, causing tight conditions and additional price gains.” New listings in November totaled 1,989 units, which was fewer than the number of sales this month. With a sales-to-new-listings ratio of over 100 percent, inventory levels dropped to 3,922 units and the months of supply dipped below two months. Source: Calgary Real Estate Board | Market values stated are of the average of Calgary and surrounding region. 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.

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