Calgary – 36% spike in supply
Calgary market shifting toward buyers.
The city recorded 1,720 sales against 3,782 new listings, driving inventory to 6,916 units — 36 per cent higher than a year ago and more than 17 per cent above typical September levels, according to the Calgary Real Estate Board (CREB). Row and apartment-style homes led the increase in supply.
Ann-Marie Lurie, CREB chief economist, said “Resale markets have more competition from new homes and additional supply in the rental market, reducing the sense of urgency amongst potential purchasers.
Apartment-style homes have been most affected, with rising supply creating buyer’s market conditions. Prices fell more than six per cent year-over-year to a benchmark of $322,900 in September.
Real Estate Magazine
- https://realestatemagazine.ca/calgary-real-estate-sees-36-spike-in-supply/