Earlier today the Calgary Real Estate Board (CREB), released the residential housing statistics for the month of July, showing strong growth. The flooding is suspected to have contributed to the increase in sales activity that we saw last month.
The total number of residential sales in July was 2,268, which is a 17% increase in activity from last year, and a 6% increase year-to-date. The CREB economist says displaced renters and others seeking accommodation is likely contributing, not to mention the very strained rental market in our city right now. With all these factors at play, the market is currently favouring sellers.
"Current market conditions have encouraged listing growth this month for single-family homeowners," said the CREB press release.
Having said that, there are lots of homes available on the market right now, and lots of opportunity to sell your home if you're looking to do so. Please let us know if you're looking for advice on your current home situation. View a list of current Northwest Calgary real estate listing. To read the full statistics package from CREB, click here.