Calgary sees another home sales gain in November as prices jump nearly 11% | CityNews Calgary

The Calgary Real Estate Board says the town noticed 1,787 dwelling gross sales in November, marking an 8.8 per cent improve in contrast with the identical month final yr because the ratio of gross sales to new listings remained excessive at 80 per cent.

New listings rose practically 40 per cent in contrast with final yr, reaching 2,227 items, with essentially the most important beneficial properties coming from properties priced over $600,000 hitting the market.

But CREB chief economist Ann-Marie Lurie says stock declined 4 per cent from final yr, because the uptick in new listings has “not been enough to change the low inventory situation thanks to strong demand.”

The unadjusted dwelling benchmark value rose to $572,700, marking a ten.7 per cent leap in contrast with November 2022.

So far this yr, the common benchmark value has risen greater than 5 per cent.

The board says it once more noticed record-high gross sales of condo condominiums because of the relative affordability in that class, whereas a decline in indifferent dwelling gross sales was pushed by restricted provide selection for properties beneath $700,000.

This report by The Canadian Press was first revealed Dec. 1, 2023.

The Canadian Press