Evolve Realty
  • Home
  • Listings
    • Featured Listings
    • Property Search
    • New Construction
    • Airdrie Home Listings
    • Calgary NW Listings
    • Calgary North Listings
    • Calgary West Listings
    • Calgary NE Listings
    • Calgary East Listings
    • Calgary SE Listings
    • Calgary South Listings
    • Calgary City Centre Listings
  • Selling
    • How We Compare
    • Q & A
  • Buying
    • Investing
  • About Us
    • Market News & Blog
    • Client Testimonials
  • Contact
    • Seller Assist Portal
    • Refer a Friend
  • Join our Team

Home Improvement

5/12/2017

0 Comments

 
November marks a rise in sales

The November housing market was spurred by a rise in sales, particularly in the lower price ranges.
Sales totaled 1,411 units in November, an increase of 15 per cent over last year. This is comparable to longer-term averages for the month of November. Improved sales activity occurred in each of the housing segments, with most of the gains occurring in homes priced under $500,000.

"The combination of improved confidence and pending mortgage rule changes have likely contributed to the stronger sales activity this month," said CREB® chief economist Ann-Marie Lurie. According to Lurie, the last time that sales activity rose to long-term averages for the month was October 2016, when the stress test for high-ratio loans was first announced.  

"Moving forward, we will continue to monitor shifts in demand as improving economic conditions should help offset the impact to the housing market after the new lending policy comes into force in January," said Lurie. 

The largest gains in the detached sector were in the $300,000 -  $399,999 price range, while the apartment and attached sectors saw the largest gains among homes priced below $300,000.

"We have seen some improvements in confidence with many of our clients. There are some concerns regarding the changes in the lending market, but there is also a significant amount of confusion regarding how it will affect them," said CREB® president David P. Brown. 

"For a lot of buyers, they are interested in taking advantage of the choice in the market at all price ranges." 
The rise in sales relative to new listings improved this month, helping ease inventory levels over the previous month and keeping the months of supply relatively stable. However, the amount of supply relative to the sales in the market remains elevated. This continues to weigh on prices.
​
Citywide benchmark prices totaled $436,700, 0.50 per cent below last month, but 0.46 per cent above last year's levels. Both median and average prices recorded a more significant decline compared to last year. This should not come as a surprise, as more sales in the lower price range this year compared to last November would cause a more pronounced drop in average and median prices. 

Info Provided by CREB

0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Evolve's Blog

    A place for us to share market news and information and chat about real estate related topics

    Archives

    February 2021
    January 2021
    November 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    November 2019
    October 2019
    September 2019
    August 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    May 2017
    April 2017
    February 2017

    Categories

    All

    RSS Feed

Picture

​sales@evolverealty.ca                     

403.980.4545
The trademarks REALTOR®, MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license    Data supplied by CREB® MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.

Copyright © 2014 Evolve Realty Inc. All Rights Reserved.
  • Home
  • Listings
    • Featured Listings
    • Property Search
    • New Construction
    • Airdrie Home Listings
    • Calgary NW Listings
    • Calgary North Listings
    • Calgary West Listings
    • Calgary NE Listings
    • Calgary East Listings
    • Calgary SE Listings
    • Calgary South Listings
    • Calgary City Centre Listings
  • Selling
    • How We Compare
    • Q & A
  • Buying
    • Investing
  • About Us
    • Market News & Blog
    • Client Testimonials
  • Contact
    • Seller Assist Portal
    • Refer a Friend
  • Join our Team