MARKET UPDATE. SEPTEMBER 2020.

OVERALL. CITY WIDE.

1702 Sales (UP 25% from September last year)
New Listings: 2715 (up 0.07% from last year)
Inventory: 6225 (down 12% from last year)
Sales to New Listing Ratio: 63%
Average days on market: 54 days

Detached.
1052 Sales (UP 28% Y/Y)
Average DOM: 50 days (improved by 10% Y/Y)
Benchmark price: $488,800 (up 1% Y/Y)

Apartment.
242 Sales (comparable to last year)
Average DOM: 67 days (improved by 4% Y/Y)
Benchmark price: $248,400 (down 0.36% Y/Y)

Semi-Detached/Duplex.
Sales: 152 (up by 22% Y/Y)
Average DOM: 54 days (improved by 16% Y/Y)
Benchmark price: $393,900 (down by 1.80% Y/Y)

Townhouse.
256 Sales (up by 48% Y/Y)
Average DOM: 60 days (improved by 2% Y/Y)
Benchmark price: $273,700 (down by 7.06% Y/Y)

What does this information mean?

This is the strongest September we have had in the Calgary real estate market since the year of 2014 (this was the last time our real estate market was booming). This increase in sales is likely due to less inventory (ie. less homes for sale to choose from) and the incredibly low interest rates. As you can see, for most property types, prices have not changed much year over year, even with COVID-19. This is because demand for housing has continued (ie. there hasn’t been a significant drop in sales). We are unsure what will happen over the winter months as COVID-19 is still affecting everyone and day to day life.

If you have any questions about this specific market information, would like an evaluation on your home, or are thinking about buying in the near future, please feel free to contact me. I would love to work with you to help you achieve your real estate goals.

PS. The greatest compliment you can give me is a referral - if you know anyone looking to buy or sell a home in Calgary, I would love to chat with them to see if I’d be a good fit to help them through their real estate journey.
Share