home sales in Calgary
, according to new data from the city’s real estate board.
Sales were down by 14 per cent year-over-year to 1,995 units following a 17.8 per cent drop in June. CREB says that the decline is still consistent with the 10-year average.
Despite the dip in sales the benchmark price was unchanged from the previous month at $455,400.
“Often, the focus is on home prices. In fact, Calgary
has recorded significant gains in home prices over the past several years,” said CREB chief economist Ann-Marie Lurie.
“And despite the recent retraction, we have not seen all those previous gains eroded.”
Prices are 0.15 per cent lower than a year earlier with apartments pulling down the average; apartment prices were down 1.6 per cent year-over-year to $293,300. Detached houses were steady at $515,300.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
July saw another double-digit drop in