The COVID-19 (coronavirus) pandemic and the collapse in oil prices may be wreaking havoc on various sectors of the economy but so far in March they don’t appear to be impacting the resale housing market in Calgary.
According to data on the Calgary Real Estate Board website, MLS sales in the market are rising while the average time to sell a home has fallen.
As of March 17, MLS sales of 757 are up 8.61 per cent from the same period a year ago. Pending sales of 70 are also up 6.06 per cent year-over-year.
The average number of days for a home to sell on the market has fallen by 20 per cent to 52 today from 65 days a year ago.
It also appears that overall prices are taking a hit. The average MLS sale price so far in March of $461,977 has dropped by 1.36 per cent while the median price of $412,000 has fallen by 1.32 per cent.
New listings on the market have increased by 5.65 per cent to 1,739 while active listings are down 5.36 per cent to 6.071.
