The inventory of homes for sale has jumped to 8,707, up 35% from last year

Mario ToneguzziThe first week in June is continuing the trend of 2018 that has developed in Calgary’s resale housing market of decreasing sales levels combined with an increasing supply of properties on the market for sale.

According to the Calgary Real Estate Board’s website, so far in June there have been 400 MLS sales, which is down 16.14 per cent from the same period a year ago.

New listings have risen by 0.7 per cent to 1,006 and the inventory of homes for sale has jumped to 8,707, which is up a significant 35.03 per cent from last year.

The median sale price has dipped by 5.46 per cent to $441,500, while the average sale price has remained fairly stable at $495,610, which is up 0.54 per cent year-over-year.

So far this year, there have been 7,059 MLS sales in Calgary, down 18.48 per cent from the pace set last year for the same period.

Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.

mls salesThe views, opinions and positions expressed by columnists and contributors are the author’s alone. They do not inherently or expressly reflect the views, opinions and/or positions of our publication.

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