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April 2019 CREB Stats

April 2019 CREB Stats

April brings a slight inventory decline

There have been no significant changes occurring in sales activity, but the number of new listings coming onto the market continues to ease relative to 2018 levels.

The decline in new listings was enough to start chipping away at overall inventory levels, which have eased slightly compared to last year.

The slight adjustment in supply levels has helped support further reductions in the months of supply, which was 4.6 months in April. While this level still represents oversupply in our market, it does reflect improvement from the nearly seven months of supply that we saw at the start of the year.

“Demand remains relatively weak in the resale market. However, if supply levels continue to adjust, this could help reduce the amount of oversupply and eventually support some price stability,” said CREB® chief economist Ann-Marie Lurie.

As of April, the total residential benchmark price in Calgary was $415,900. This is slightly higher than last month, but still nearly five per cent lower than last year’s levels.

Citywide sales were 1,547 units in April, two per cent higher than last year’s levels. Year-to-date sales remain nearly six per cent lower than last year and are 26 per cent below longer-term averages.

“Sales have been improving mostly in the lower price ranges, causing tighter supply conditions in that segment.  This will likely have a different impact on price trends in the lower price ranges depending on location,” said Lurie.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

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Kelly Heintz

Kelly started her career in Real Estate in 2008 working as a Legal Assistant for a small law firm. In 2011 she started working with a top producing Realtor, and over the next 7 years turned that business into one of the highest performing teams in Calgary. Kelly’s passion, commitment and dedication for what she does makes her the right agent for her clients – regardless of whether they are buying, selling or investing in real estate.

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