CALGARY — The Calgary Real Estate Board says June home sales rose by nearly 11 per cent from a year earlier as the market saw a surge in apartment and condos changing hands.
The Alberta organization says 3,146 homes changed hands last month compared with 2,837 in June 2022.
Apartment sales alone totalled 857, up 48 per cent from a year prior, while sales of detached homes ticked up three per cent and semi-detached sales rose by eight per cent.
The market's average price last month increased by almost seven per cent from a year earlier to $552,273, while the benchmark price was up four per cent to $564,700.
New listings slid almost three per cent from a year prior, reaching 3,939.
The board's chief economist says supply is still under pressure as year-to-date sales remain 23 per cent lower than last year.
“Although we have seen some recent improvements in new listings, particularly for apartment condominiums, it is not enough to cause any substantial change from the low inventory situation in our city," Ann-Marie Lurie says in a press release.
"While new home starts are on the rise, it will take time to observe their impact on supply.”
This report by The Canadian Press was first published July 4, 2023.
The Canadian Press
