There was a lot of consternation in February when Calgary’s sales were down by 6%. Many were jumping on the crashwagon, saying that Calgary had finally succumbed to the same fate as Vancouver and Toronto. Now in March, compared to last year, they are up 2.7% and compared to the 3-year average, they’re up 7.8%.
Bidding wars have eased up slightly with only 10% of homes selling for list price or higher over the past 3 days. First-time buyers are seemingly being priced out, which in turn should help to moderate the price increases. The inventory shortage is still the overriding concern, however.