Calgary Single Family Homes May 2024: Sales Trends and Prices Explained

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🏠 Calgary Detached Homes Market Update - April Review | Adam Fyfe Real Estate 🏠

🔥 April's Detached Home Sales Overview: 🔥

The Calgary detached home market witnessed modest sales growth in April, with a 1% increase compared to last year. Notably, the gains were driven by activity in the higher price segments, which helped offset a significant downturn in homes priced below $600,000. This downturn is largely due to a stark 34% drop in new listings for lower-priced homes, even as overall new listings for detached homes rose by 10%.

📉 Inventory Dynamics and Market Conditions: 📉

With the adjustments in sales and inventory, the month's supply dipped to less than one month. This tightening supply indicates a market that continues to strongly favor sellers, contributing to an uptick in home prices. The benchmark price for detached homes soared to $749,000, marking a more than 1% increase from last month and an impressive 13% rise from April of the previous year.

💹 Pricing Trends Across the City: 💹

The most substantial year-over-year price gains were observed in Calgary's most affordable districts, highlighting a growing interest in more accessible housing options within the city.

🌟 Navigating the Market with Adam Fyfe Real Estate: 🌟

Tune in for up-to-the-minute insights and analysis on the detached housing market in Calgary. Whether you are contemplating buying, selling, or simply keeping track of market trends, Adam Fyfe Real Estate provides expert guidance and the latest data to help you make well-informed decisions.

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🏢 eXp Realty Canada
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