Calgary home sales surge 462 per cent
May 13, 2021
Calgary home sales soared 462 per cent in April as Alberta’s largest city continued a record-setting sales pace increase across Canada from the depths of the April 2020 market.
The Calgary Real Estate Board (CREB) said 3,209 homes were sold in the city in April 2021 compared with 571 during the same month last year, when economic shutdowns led to a massive sales decline.
The startling increase—which eclipsed the 343 per cent increase seen year-over-year in Vancouver—is the result of potential buyers “wanting to enter the market before any further changes occur in prices, interest rates and lending policy,” said CREB chief economist Ann-Marie Lurie in a release. Many sellers also went into action to catch the sales wave.
CREB’s latest figures show new listings soared by 227 per cent to reach 4,670 in April 2021, up from 1,425 during the same period last year.
The average price was up by more than 20 per cent, rising to $509,294 from $423,338 in April 2020.
Detached homes hit a new record high for the month with 2,046 sales in April and their benchmark price rose to $529,100—nearly 11 per cent higher than in April 2020 and more than $30,000 higher than levels recorded at the start of this year.