Calgary Real Estate: May Review
May was another big month for the Calgary real estate market, with a record number of home and condo sales in the city.
In addition, while the number of home listings is nearly 12% lower than the same time last year, listing inventory for homes has finally started to increase. This is expected to continue through the summer months. Listing inventory for Calgary condos is now 10% higher than last June.
Demand for Calgary property continues to be stronger than anything seen since 2006, with the highest demand seen in homes priced under $700,000 and condos listed for under $500,000 (less than 2 months of listings). *See Figure 1 & 2 below*
Ann-Marie Lurie, chief economist with the Calgary Real Estate Board,…