Calgary Real Estate Market Update: October 2015 Statistics
According to the statistics from Calgary Real Estate Board average detached home prices in Calgary dropped by 7.3% to $518,956 in October. While attached home prices dropped by 6.9% to $391,603 and apartment prices dropped by 1.5% to $318,210.
Uncertainties in economy is causing real estate prices to decline because of increasing number of listings and decreasing number of sales. Number of overall sales declined by 33% to 1421 transactions in October. Meanwhile, inventory numbers climbed by 20% to 5578 active listings.
It becomes a buyer’s market with more inventory to choose from and advantage of being able to negotiate a great deal. According to the data from CREB, sales-to-list-price ratio has also slid by 0.92% to 96.98%. Which means sellers sold their homes 96.98% of asking price last month whereas year before they were able to get 97.9% of asking price.