Calgary home sales up almost 23 per cent in February, prices rising

The Calgary Real Estate Board (CREB) says February residence gross sales have been up practically 23 per cent from final yr as new listings rose.

The board says gross sales totalled 2,135 items, whereas the amount of gross sales in {dollars} rose 41.3 per cent to $1.25 billion.

New listings have been up 13.6 per cent to 2,711, whereas stock was down simply over 14 per cent from final yr.

Ann-Marie Lurie, chief economist at CREB, says robust demand and low provide are persevering with to drive value beneficial properties within the metropolis.

The benchmark value throughout all residence sorts was $585,000 for the month, up greater than 10 per cent from a yr earlier.

Properties have been in the marketplace for a mean of 24 days earlier than promoting in February, down virtually 27 per cent from final yr.