Despite COVID, August sales remain relatively stable. At the beginning of June, year-to-date sales were over 33% below the previous year’s sales but we’ve been closing the gap and we are now only 13% below 2019’s year-to-date sales volume. Detached and townhomes have strong sales volume whereas condos and attached homes are experiencing declines.
Strong sales and the ease of new listings has reduced the inventory levels compared to last year. The months of supply has also risen compared to the past few months and now sits at four months; this gain has helped to stabilize pricing.
Due to COVID, the market is very difficult to predict what could happen next however, if we continue to follow the trends (pending no further shutdowns or killer hornets) we can anticipate sales to remain strong (particularly in detached homes) and new listings to begin to increase as people get past the initial back-to-school rush.
If you’re thinking about selling, get on the market sooner than later. Beat the rush, get photos before the leaves disappear, and start showing your home before the snow falls.
Want to know what is happening in your neighbourhood? Sign up for a customized monthly market report.
For the detailed market statistics from the Calgary Real Estate Board for August 2020 click HERE. Contact us directly for the stats on Airdrie, Cochrane, Rockyview, Bighorn or other areas in the Calgary region.