Market update Apr 1 – 19, 2013

Despite more new listings, inventory continues to drop because of the increased sales.

Inventory vs sales and price2

The demand for homes in Calgary is resulting in numerous bidding wars. Yesterday, 25% of all sales were for list price or higher. A home in Scenic Acres which was listed for $458,000 had an accepted offer after one day on the market and sold for $468,000. It was purchased in 2001 for $209,000.

A tear-down on a 50′ lot in Montgomery also sold in one day. It was listed for $419,000 and sold for $432,500.

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