The Calgary Actual Property Board says March house gross sales have been up 9.9 per cent from final 12 months as interprovincial migration to Alberta contributed to tight market situations.
The board says 2,664 items modified palms final month, whereas the benchmark value throughout all house varieties was $597,600 for March — up 10.9 per cent from a 12 months earlier and two per cent from February.
Comparatively extra reasonably priced housing varieties, akin to row and apartment-style houses, noticed essentially the most important year-over-year value features.
New listings fell 4.3 per cent to three,172 and there have been 2,532 items in stock, 22 per cent decrease than final 12 months and half the degrees historically seen in March. The board says stock ranges declined essentially the most for houses priced under $500,000.
Ann-Marie Lurie, chief economist at CREB, says situations for March haven’t been this tight since 2006, which additionally marked the final time Calgary skilled excessive ranges of interprovincial migration.
Properties have been in the marketplace for a median of 20 days earlier than promoting in March, down 24.3 per cent from final 12 months.
