Calgary Resale Housing Market Sees Easing of Year-Over-Year MLS sales Declines

The rate of decline in year-over-year MLS sales in Calgary is continuing to ease.

 

Calgary Real Estate Board statistics indicate indicate July month-to-date activity in the resale housing market, up to and including Thursday, was down 13.9 per cent to 1,890 transactions compared with the same period a year ago.

It is the smallest year-over-year monthly drop of 2015 which began with a near 40 per cent annual plunge in January.

 

Month-to-date new listings in July were down 8.91 per cent to 2,802 units.

 

The average MLS sale price was off by 1.11 per cent to $476,500. However, the median price was up 2.42 per cent to $435,300.

 

The days on the market to sell a listing rose by 21.21 per cent from 33 days to 40 days.

 

Prices are remaining stable year-to-date as a result of a reasonable demand due to lower interest rates and less new inventory coming onto the market. The roles of buyers and sellers have changed in the last 12 months and this is creating a more balanced market to what it was last year. Balance is healthy.

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