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Dec 1, 2022
November home sales down 20%, year-to-date sales on track for record: Calgary board
The Canadian Press
There is potentially room for home prices to drop again: Real estate expert
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The Calgary Real Estate Board says the city's November home sales dipped by 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 amounted to 1,648, down 22 per cent from a year ago, but 12 per cent above the 10-year average.
Despite the pullback seen over the last six months, year-to-date sales remain nearly 10 per cent above last year's record high.
The year-to-date sales growth is largely attributable to a surge in condo and row house sales.
November's sales decline was coupled with a 20 per cent 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 per cent to $520,200 and the average price rang in at $490,134, a less than one per cent fall from a year ago.
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