November home sales down 20%, year to date sales on track for record: Calgary board – Calgary

The Calgary Real Estate Board says the city’s November home sales are down more than 20 per cent since the same time last year, but 2022 is still on track to set a record.

The Alberta board says last month’s sales totaled 1,648, down 22 percent from a year ago but 12 percent above the 10-year average.

Despite the pullback seen over the past six months, year-to-date sales remain nearly 10 percent above last year’s record high.

The year-to-date growth in sales is largely attributable to an increase in apartment and townhouse sales.

November’s decline in sales is coupled with a 20 percent drop in new listings since the same time last year and an inventory level not seen since November 2005.

Meanwhile, the benchmark price rose about nine percent to $520,200 and the average price was $490,134, down less than one percent from a year ago.