Calgary Townhouse Market May 2024: Surge in Demand & Price Dynamics

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Market Dynamics in May:

The Calgary townhouse market in May showed robust activity, recording 540 sales, which marks a significant increase from the previous year and contributes to a 16% rise year-to-date. The market also saw an increase in new listings, which has helped bolster the overall inventory levels.

Inventory Trends:

While inventory for townhouses priced below $400,000 has seen a decline, the substantial gains in inventory for higher-priced row properties have more than compensated, supporting an overall increase in available units. This shift reflects a diversifying market where higher-end properties are gaining traction among buyers.

Sales and Pricing Overview:

The sales-to-new-listings ratio stood strong at 78%, indicating a market that continues to favor sellers. With the months of supply remaining below one month, the seller's market conditions are pushing prices upward. As of May, the benchmark price for townhouses in Calgary rose to $462,500, a near 2% increase from the previous month and a significant 19% increase from last year's figures.

Navigating the Market:

These conditions suggest continued competitive market dynamics, especially in higher price segments. Potential buyers need to move swiftly, while sellers can expect favorable conditions to continue.

Stay Informed with Adam Fyfe Real Estate:

For the latest updates, in-depth analysis, and strategic guidance on navigating the Calgary townhouse market, subscribe to our channel. Whether you’re planning to buy or sell, Adam Fyfe Real Estate is here to provide you with expert advice and timely market insights.

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