How Much Are Homes in Calgary? 🏡 Calgary Real Estate Update 👉🏻 April 2024

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🏡 Calgary Single-Family Homes Market Update - March Insights | Adam Fyfe Real Estate 🏡

🚀 Key Highlights for Calgary's Detached Homes: 🚀

The Calgary detached home market saw a significant rise in sales this March, albeit constrained by the limited new listings entering the market. With 1,386 new listings and 1,151 sales, the sales-to-new listings ratio surged to an impressive 83%. Despite a stable month-over-month inventory level, we observed a 24% decrease compared to last year, with inventory nearly 60% below the long-term March average. 📉

🔍 Inventory & Pricing Dynamics: 🔍

A striking feature of the current market is the inventory distribution: 71% of homes available in March were priced above $700,000. This skew towards higher-priced homes is coupled with an overall inventory reduction across all price segments, most notably at the lower end. 🏠

💡 Price Movements: 💡

The scarcity of inventory relative to demand has pushed the months of supply below one month, fostering further price appreciation. The detached home benchmark price climbed to $739,700, marking nearly a 3% increase over the previous month and an annual growth of 14%. Remarkably, the largest price jumps occurred in Calgary's most accessible areas, the North East and East districts, showcasing the demand for more affordable housing options. 📈

👀 Why This Matters to You: 👀

Understanding these dynamics is crucial whether you're considering buying or selling a single-family home in Calgary. The market is tight, with competitive pricing and limited inventory, highlighting the importance of strategic planning and informed decision-making. 🗝️

🔔 Stay Ahead with Adam Fyfe Real Estate: 🔔

For more detailed insights and advice on navigating the Calgary single-family home market, subscribe to our channel. Let's embark on your real estate journey with the latest market data and expert guidance at your fingertips! 🌟

#CalgarySingleFamilyHomes #MarketInsights #RealEstateTrends #DetachedHomesCalgary #AdamFyfe #CalgaryRealEstate #HomeBuying #HomeSelling #RealEstateInvesting

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🏢 eXp Realty Canada
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