CALGARY – The Calgary Real Estate Board says home sales slowed from the record pace seen earlier this year, but increased year over year in August.
The Alberta Board of Directors says 2,151 homes were sold in Calgary last month, up almost 37% from 1,574 in August 2020, but down from 2,319 in July.
The market recorded 19,516 sales this year, compared to 10,044 in the same period last year.
New registrations for the month were 2,822, up about 9% from 2,578 last August and down from 3,296 in July.
The average price of a home also climbed to $ 488,043 in August, from $ 470,271 in the same month last year.
The council’s chief economist, Ann-Marie Lurie, says the numbers show sales have exceeded expectations, but supply has failed to keep pace.
“The terms have changed in favor of the seller, which has not happened for over six years,” she said in a press release.
“With more buyers than sellers, prices have increased, providing opportunities for many high profile buyers in the market. Over the past few months, we’ve seen some adjustments in supply versus sales, helping us move towards more balanced conditions. “
This report by The Canadian Press was first published on September 1, 2021.
The Canadian Press