Home sales in Calgary in June 11% higher than a year ago: real estate council
CALGARY – The Calgary Real Estate Board says home sales rose nearly 11 percent in June from a year earlier, when the market saw a surge in the number of condos and condos changing hands.
The Alberta Organization says 3,146 homes changed hands last month, compared to 2,837 in June 2022.
Apartment sales alone amounted to 857, up 48 percent from a year earlier, while sales of detached homes were up 3 percent and semi-detached sales rose 8 percent.
The average market price rose almost seven percent last month from a year earlier to $552,273, while the reference price rose four percent to $564,700.
New listings were down nearly three percent from a year earlier, reaching 3,939.
The board’s chief economist says supply is still under pressure as sales so far remain 23 percent lower than last year.
“While we’ve seen some recent improvements in new listings, particularly for apartment complexes, it’s not enough to make a substantial change from our city’s low inventory situation,” Ann-Marie Lurie said in a press release.
“As the number of new homes increases, it will take time to observe their impact on supply.”
This report from The Canadian Press was first published on July 4, 2023.
