Courtesy of Ken Nguyen

Prices reach new record high

$299,400 apartment UP 10.24% year-to-year

$661,900 detached UP 2.40% year-to-year

BENCHMARK PRICES

3,133 NEW LISTINGS 2,690 SOLD LISTINGS

$387,400 rowhouse UP 7.43% year-to-year

detached 1,480 detached 1,306 734 apartment 953 apartment

86% SALES TO NEW LISTING RATIO

3,238 ACTIVE LISTINGS

1.2 MONTHS OF INVENTORY

24 DAYS ON MARKET

Calgary, May 1, 2023 - Persistent sellers’ market conditions placed further upward pressure on home prices in April. After four months of persistent gains, the total unadjusted benchmark price reached $550,800, nearly two per cent higher than last month and a new monthly record high for the city. “While sales activity is performing as expected, the steeper pullback in new listings has ensured that supply levels remain low,” said CREB ® Chief Economist Ann-Marie Lurie. “The limited supply choice is causing more buyers to place offers above the list price, contributing to the stronger than expected gains in home prices.” In April, sales reached 2,690 units compared to the 3,133 new listings. With a sales-to-new-listings ratio of 86 per cent, inventories declined by 34 per cent compared to last year and are over 45 per cent below long-term averages for April.

While sales have eased by 21 per cent compared to last year, the steep decline in supply has caused the months of supply to ease to just over one month. This reflects tighter market conditions than earlier in the year and compared to conditions reported last April. New listings have eased across all price ranges in the detached market, with the most significant declines occurring for homes priced below $700,000. . The persistently tight market conditions have contributed to further price growth. In April, the detached benchmark price reached a new record high at $661,900. Statistics reflect market activity in April 2023 | 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.

REAL ESTATE AGENT Ken Nguyen

email: kennguyenrealestate@gmail.com phone: 403.991.1153

101-110 Country Hills Landing NW Calgary, AB, T3K 5P3

The greatest compliment my clients can give me is the referral of family and friends!

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