CALGARY REAL ESTATE MARKET UPDATE - August 2020
CALGARY REAL ESTATE MARKET UPDATE - July 2020
Welcome, I'm Jenny Alvarez Barrera with EXP Realty.
So how is Real Estate? 💬
📣Time for new stats📣
🏠 Total residential sales in August were relatively stable compared to last year with year-over-year gains in the detached and row sectors. These gains offset declines in the apartment and semi-detached products.
🗓With 1,573 sales in August, this is consistent with levels over the past five years. Year-to-date sales activity remains nearly 13 per cent below last year.
✨ “Recent national reports have shown a bounce back to new record levels over the past several months. Calgary has seen improvements over the lows recorded during the lockdowns but is far from record levels,” said CREB® chief economist Ann-Marie Lurie.
📊”The situation in Calgary has been slightly different as the job losses were not isolated to sectors that are typically associated with rental demand. We have started to see improvements in the job market compared to previous months as some jobs start to return.”
However, the impact of COVID-19 on the economy is not over.
🏡 New listings are easing and is helping to chip away at existing inventory compared to the higher levels recorded last year. However, the pace of year-over-year decline has eased as inventory levels have trended up relative to levels recorded a few months ago.
⏳The months of supply has also risen compared to the past few months and now sits at four months. This gain has slowed some of the monthly gains on prices. The residential benchmark price in August was $420,800 and is nearly one per cent lower than last years’ levels.
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📍Curious of how this affects your home price? send me a private message to get your custom market analysis in your inbox.🖱
🔐Ready to unlock homeownership? Get in touch, and Let's find your dream home!
🤩Jenny Alvarez Barrera
☎️403.399.7407
🔑EXP Realty 👇
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