Calgary's real estate market has always been robust and enticing, but the numbers from July have catapulted it into new heights. The data tells a tale of opportunity, increased activity, affordability, and tight supply, painting a multifaceted picture of the market's current state. Here's a comprehensive analysis of what the latest statistics mean for you, whether you're a homeowner, potential buyer, or just interested in the pulse of Calgary's vibrant real estate market.
A 7-Month Streak of Benchmark Price Increases
The benchmark price increase streak has reached its seventh month, with the residential benchmark price hitting approximately $568K. This represents a 4% increase over the yearly peak, signifying an ongoing trend of growth in the housing market.
Yearly Sales Spike by 18%
Despite rising rates, July witnessed an extraordinary 18% increase in yearly sales, reaching all-time highs. This spike signifies a thriving market with plenty of opportunities for both buyers and sellers.
Apartment Condos Lead the Way
Affordable apartment condos were the stars of the show in July, driving accelerated activity with an 84% sales-new-listings ratio. This shift demonstrates a strong demand for accessible housing options, particularly among first-time buyers and those looking for affordability without sacrificing quality.
Demand and Supply Dynamics
The persistent demand in Calgary's housing market is driven by factors such as migration and affordability. However, the tight supply is leading to upward pressure on prices. This balance of supply and demand underscores the importance of a strategic approach to buying or selling in the current market.
How Michael Newton Can Help You Navigate the Market
Understanding these market dynamics can be complex. That's where Michael Newton, your trusted "Calgary Family Connector," comes into play.
Investing Wisely: With insights into the market's growth, Michael can guide you in making a sound financial decision that benefits your family in the long term.
Finding the Right Home: Whether it's an affordable apartment condo or a spacious family home, Michael's expertise ensures that you find the property that fits your needs.
Seamless Transition: Selling or buying, Michael's knowledge of the market dynamics ensures a smooth process, reflecting your values of stability, community, and family comfort.
Ready to Take the Next Step?
The Calgary housing market is at a fascinating juncture. With records being broken and opportunities abounding, now is an excellent time to make a move. Michael Newton, the "Calgary Family Connector," is ready to help you navigate this exciting journey.
