• Catherine

August home sales consistent, but COVID-19 impacts continue

City of Calgary, September 1, 2020 –


Total residential sales in August were relatively stable compared to last year with year-over-year gains in the detached and row sectors.


These gains offset declines in the apartment and semi-detached products. 


With 1,573 sales in August, this is consistent with levels over the past five years. Year-to-date sales activity remains nearly 13 per cent below last year.


“Recent national reports have shown a bounce back to new record levels over the past several months. Calgary has seen improvements over the lows recorded during the lockdowns but is far from record levels,” said CREB® chief economist Ann-Marie Lurie.


“The situation in Calgary has been slightly different as the job losses were not isolated to sectors that are typically associated with rental demand. We have started to see improvements in the job market compared to previous months as some jobs start to return.”


However, the impact of COVID-19 on the economy is not over.


“There have been more than 100,000 jobs lost since last year and Calgary’s unemployment rate sits at 15 per cent. This is well above the national average of 11 per cent,” said Lurie.


New listings are easing and is helping to chip away at existing inventory compared to the higher levels recorded last year. However, the pace of year-over-year decline has eased as inventory levels have trended up relative to levels recorded a few months ago.


The months of supply has also risen compared to the past few months and now sits at four months. This gain has slowed some of the monthly gains on prices. The residential benchmark price in August was $420,800 and is nearly one per cent lower than last years’ levels.

3 views0 comments

Recent Posts

See All

City of Calgary, May 2, 2022 – Following an all-time record high month of sales in March, activity slowed down in April. However, with 3,401 sales, it was still a gain of six per cent over last year

City of Calgary, April 1, 2022 – For the second month in a row, sales activity not only reached a monthly high but also hit new record highs for any given month. Gains occurred across every property t

City of Calgary, March 1, 2022 – Thanks to a surge in new listings, sales activity reached a record high for the month of February with 3,305 sales. The rise in new listings caused adjusted inventori