October 2016 Calgary Real Estate Market Update
Great news posted by the Calgary Real Estate Board today! For the first time in 2 years the year over year sales for October increased, not only in the detached sector but across all housing types. According to CREB, the total number of sales for the city was 1,644 units, up nearly 16% from last year. A large portion of this was in the lower price range of each sector so it appears the change in mortgage rules pushed a lot of first time buyers to make their move into the market! Additionally the detached benchmark price was relatively stable and only down 0.24% from last month. The benchmark price for detached homes was $502,200 down 3.2% over last year while the overall combined benchmark is $438,900 down 4.04%.
To learn more check out the CREB Monthly Statistic Package here.