Despite the slight decrease in sales, the benchmark price across all home types in Calgary increased by 9.5% compared to last year, reaching $605,300. This represents a near 1% rise from April. The number of new listings also saw a significant 18.7% year-over-year increase to 4,333, contributing to the 5.9% rise in inventory compared to last year’s 3,402 units. Ann-Marie Lurie, chief economist at CREB, attributed the increase in new listings primarily to higher price ranges for each property type. This trend supported stronger sales growth for more expensive homes. The average time properties spent on the market before selling in May was 19 days, a 20.2% decrease compared to the previous year. The Calgary real estate market continues to experience rising house prices and low inventory, with high levels of interprovincial migration contributing to the demand for homes in the city.
Calgary Home Sales Dip Slightly but Still Top Long-Term Trends
