December Summary from THE PHIL LEPAGE TEAM
- 2019 wrapped up with annual sales up 1% over last year.
- December sales have improved compared to the same period in 2018. Levels are now more consistent to activity seen during the years prior to 2018.
- Calgary real estate conditions continue to favour the buyer, although price declines, lower mortgage rates and some modest improvements in full-time employment helped support demand growth.
- With a 3% reduction in overall prices, the end of 2019 marks a 10% total decline in prices since the beginning of increased energy economy uncertainty in 2014.
- There are many indicators in the market pointing towards stabilization, but price, product, and location factors will still cause the majority of market variance in the city.
- Look for improvements in lower pricepoint products and resurgance in previously effected areas where prices have fallen enough to attract new buyers.
December 2019 In Review
Total Sales Volume
Sales to New Listings Ratio
Days on Market
City of Calgary CREB Statistics
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