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Are Prices Stabilizing? Calgary Single-Family Market Analysis
Calgary Detached Homes Market Update - August 2024
Overview: August 2024 brought notable changes to Calgary's detached home market. Sales decreased by 14% compared to last year, indicating a shift in buyer preferences and market dynamics. This video provides an in-depth analysis of the current state of the market, focusing on supply levels and price trends.
Market Trends: While there was an increase in sales of homes priced above $600,000, it wasn't sufficient to counterbalance the significant declines in more affordable price ranges. The shortage in lower-priced home inventory continues to pose challenges, impacting overall sales figures.
Inventory Insights: As of August, the inventory for detached homes stood at 2,011 units, with the majority—over 85%—priced above $600,000. This distribution has contributed to an increase in the months of supply, which reached nearly two months, a marked improvement from the tight conditions seen in the spring.
Price Movements: The market's easing has begun to relieve some of the upward pressure on home prices. The unadjusted benchmark price for detached homes was $762,600, showing a slight decrease from the previous month but still maintaining a robust year-over-year growth of over nine percent.
Conclusion: Tune in to understand how these shifts could affect your real estate decisions, whether you're looking to buy, sell, or simply stay informed about Calgary's housing market.
Stay updated with the latest real estate trends by subscribing to our channel. For more insights and a deeper dive into specific areas of the Calgary real estate market, check out our other videos!
#CalgaryRealEstate #HousingMarket #MarketUpdate #RealEstateTrends #HomeSales #CalgaryHomes #RealEstateInvesting #DetachedHomes
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