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The sturdy finish to 2020 continued into the primary month of 2021 with residence resales the strongest since January 2014.
Gross sales have been up greater than 40 per cent 12 months over 12 months final month within the metropolis, Calgary Actual Property Board figures present.
On the identical time, stock fell by nearly 22 per cent whereas months of provide dropped practically 45 per cent, 12 months over 12 months. As properly, new listings fell by 4.6 per cent.
Rising demand coupled with falling provide led to a rise of 1.9 per cent within the benchmark worth of a house within the metropolis to $423,800.
Exercise within the single-detached houses section continued to drive the market, with the benchmark worth rising by nearly three per cent, 12 months over 12 months, to $492,900.
Solely the condominium section noticed a lower in its benchmark worth by 0.4 per cent to $245,100.
CREB chief economist Ann-Marie Lurie said in a information launch rising exercise available in the market is pushed by beneficial lending situations.