Calgary Sales Activity Similar to Last Year
The new year opened predictably, with monthly figures close to the Januarys of the past three years.
With new mortgage rules and rates officially in effect, sales activity in January remained comparable to last year, as rising sales for attached properties were not enough to offset declines in both the apartment and detached sector. It is however, too early at this point in time to see the full impact of the new mortgage rules.
Prices on listings this past month were slightly lower than the previous month and, slightly lower than last January. This was across all types of homes however; price declines were more pronounced in the apartment and attached sectors.
In the detached sector, new listings saw a decline in sales activity for homes priced over $500,000. However, homes priced between $300,000 and $399,999 saw an increase in activity.
For those who are interested in selling, the amount of homes on the market will have an impact on the listing price. For those who are interested in buying getting pre-approved is really important right now.
For the entire CREB® forecast, visit creb.com.
Information was last updated February 2018.