Best March Sales in Over a Decade.

City of Calgary, April 1, 2021 - The initial impact of COVID-19 on the housing market began last March. One year later, it is not a surprise that March sales in 2021 were higher than in 2020. However, at 2,903 sales, this was the highest March total since 2007. “Low lending rates and improved savings have supported sales activity,” said CREB® chief economist Ann-Marie Lurie. “However, sales have been somewhat restricted by the lack of listings. This month there was a jump in new listings, contributing to the strong monthly sales.” Inventory levels pushed above 5,400 units, but citywide months of supply fell below two months. This reflects the lowest months of supply for March since 2014 and these tight conditions have contributed to price gains. In March, the benchmark price trended up over last month to $441,900, over six per cent higher than last year’s levels. The price gains have moved the market closer to recovery,...

Read full post
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks 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.