Calgary home sales tick down in May amid limited supply of lower-priced options

The Calgary Real Estate Board says May dwelling gross sales fell 0.8 per cent from final 12 months as 3,092 properties modified arms, pushed by declines in lower-priced indifferent and semi-detached properties.

Despite the downtick in gross sales, the board says exercise was nonetheless 34 per cent increased than long-term tendencies for the month.

The benchmark worth throughout all dwelling varieties was $605,300 for May — up 9.5 per cent from a 12 months earlier and almost one per cent increased than April.

New listings rose 18.7 per cent year-over-year to 4,333 and there have been 3,402 models in stock, 5.9 per cent increased than final 12 months.

Ann-Marie Lurie, chief economist at CREB, says though new listings elevated, a lot of the expansion was seen in increased worth ranges for every property sort, supporting elevated gross sales development for dearer properties.

Properties have been available on the market for a median of 19 days earlier than promoting in May, down 20.2 per cent from final 12 months.