Wondering how the detached market fared in 2019? Check out some bullet points we grabbed from the 2020 CREB Forecast…
- Detached home sales dropped slightly from 2018, ultimately making it one of the slowest years of sales since the mid-1990s.
- Nearly 60 percent of the detached home inventory is priced over $500,000.
- The North West and South districts saw an improvement in detached home sales while all other districts registered a decline in overall sales. Calgary’s North District saw the largest decline year-over-year.
- Many home builders with a presence in Calgary have adjusted their prices to be more competitive with the resale market, ultimately shifting demand from the resale side of the market back over to new construction.
- Overall, detached home prices in Calgary remain 8 percent lower than 2014 highs.
- Oversupply continued to bring detached home prices down in 2019, which range from a 1 percent drop in North East Calgary to over a 5 percent drop in City Centre.