The Calgary Real Estate Board says home sales in the city decreased again on a year-over-year basis last month amid uncertainty over the economy, while new listings and inventory both grew.
The board says 2,236 homes were sold in April, marking a 22.3 percent decrease compared with the same month last year, as sales in Calgary slowed across all property types.
CREB chief economist Ann-Marie Lurie says that while sales have been softening in recent months, activity is still outpacing the levels seen during the economic downturn that plagued the city leading up to the pandemic, thanks to previous migration gains, relatively stable employment levels, lower lending rates, and better supply.
There were 4,038 new listings on the market last month, up 15.7 percent from a year earlier, as the city’s inventory reached 5,867 homes for sale—more than double the supply available at the same time last year.
The board says the rise in inventory has helped the market shift to balanced conditions, however lower-priced detached and semi-detached properties continue to struggle with insufficient supply.
The residential benchmark price was $591,100, marking a 1.4 decrease from April 2024 and a month-over-month decrease of 0.2 percent.
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