March 2019 Real Estate Market Update

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March 2019 Real Estate Market Update

First quarter of 2019 saw the predicted slow activity in real estate market in Calgary and continued decline in prices. If you want to learn more about the forecast for this year or find out if it’s worth to buy a house in 2019 check out my post on that subject here.

March saw a continued decline in city wide sales activity. Number of sales dropped 9% below last year and 28% below typical levels for this time of year. Sales have only been rising for more affordable product in the detached and attached sectors under $350,000.

Relatively slow sales activity impacted the number of new listings, which fell almost 14% compared to last year. Less inventory however didn’t help to stabilize prices and benchmark price eased to $413,900, 5% below last year’s levels and just below levels recorded last month.

Below is a detailed sales data for all sectors.

Source: CREB

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