Calgary real estate board says September home sales fell amid surge of listings for higher-priced properties

The Calgary Real Estate Board says September location income tumbled 17.6 per cent from past year’s grounds levels to 2,003, but remained astir 16 per cent higher than semipermanent trends for the month.

The committee says the benchmark terms crossed each location types was $596,900 for September, somewhat little than the erstwhile period but 5.5 per cent higher than September 2023.

There were 3,687 caller listings connected the marketplace past month, the highest September full since 2008 and 15.5 per cent much than a twelvemonth earlier.

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Ann-Marie Lurie, main economist astatine CREB, says astir of the listings maturation was driven by caller homes for merchantability successful higher terms ranges, portion constricted prime for lower-priced homes has apt prevented stronger income successful the Calgary market.

The committee says September inventory levels reached 5,064 units, a 49.7 per cent summation from past twelvemonth but beneath the 6,000 units typically disposable successful September.

The committee says increasing inventory levels and declining income are continuing to displacement the Calgary market toward much balanced conditions, which are inactive tilted successful favour of the seller.