Calgary Real Estate Report April 2021
I'm going to keep it short this month. Everything in my last newsletter still stands and MORE! It is a seller's market! Home sales in April were nothing short of astounding. I will just quote the different figures from April 2020 and April 2021: 571 (2020) and in 2021 it was 3208 SALES! A 562% increase. All sectors saw major increases but again, the ones that stood out were the detached homes which saw over 500% increase. And the type of homes selling were higher in price and more in volume. The medium price and average price were UP 16% AND 19% respectively. Days on market were cut in half! Though inventory is increasing as sellers rush to take advantage of the market, sales continue, especially for well-priced homes in good locations.
Here are charts of sales in all types of homes.
Prices are up everywhere. Semi-detached are up an incredible 23-27% in medium and average price respectively. To put some perspective on it, a lot of expensive inner city units just came on the market in April. Even CONDOS are up between 3 and 8% and selling faster.
If you were thinking of selling, NOW IS THE TIME. Can it continue? Perhaps through the summer. Maybe even into next year. But it won't likely last beyond that, though prices might flatten out and continue to rise slowly. Some talk about a bubble. Others think that may only be GTA and Vancouver. No one knows for sure. It sure is interesting how prices turned on a dime -- my statement has always been -- psychology drives the market more than the market does.
Below is a news story from Global that is worth watching. Just copy the link and paste it to your browser: