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Calgary home sales inch up after 21 months of decline as signs of stability show

October 03, 2016 - 3:14 PM

Calgary home sales inched up in September for the first year-over-year gains in almost two years.

The city saw a total of 1,488 homes sold last month compared to 1,458 a year earlier — the first such increase since November 2014, according to Calgary Real Estate Board statistics.

The inventory of homes for sale was also up in September at 5,877 listings, about a five-per-cent increase from a year earlier.

CREB said while the supply has increased, it hasn't gone up as much as many had expected, preventing a more significant price drop.

The detached benchmark price representing a typical home was $503,400 in September, barely moving from August with a $200 increase in what CREB said was a sign of a stabilizing market.

Despite the September increase, total sales numbers for the year are still down about 8.3 per cent at 14,072 compared to 2015 sales for the first nine months of the year — and about 45 per cent below comparable 2014 numbers.

Sales totals for September also varied widely, with detached home sales up 4.3 per cent to 945, condo sales down 22.8 per cent at 200, and attached home sales up 19 per cent to 338.

News from © The Canadian Press, 2016
The Canadian Press

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