{"id":22056,"date":"2023-05-04T13:00:00","date_gmt":"2023-05-04T17:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=22056"},"modified":"2023-05-04T09:38:24","modified_gmt":"2023-05-04T13:38:24","slug":"creb-april-2023","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/creb-april-2023\/","title":{"rendered":"Sellers&#8217; Market Conditions Pushing Prices to Record Highs in Calgary"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Home prices soared last month in <a href=\"https:\/\/www.zoocasa.com\/calgary-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Calgary<\/a>, with the total unadjusted benchmark price in April climbing to $550,800 &#8211; a new monthly record high according to the Calgary Real Estate Board.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Affordable Property Types Experienced the Most Gains&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Following months of <a href=\"https:\/\/www.zoocasa.com\/blog\/creb-march-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\">extremely low supply<\/a> and tightening conditions, prices reached new peaks in nearly all property types. This was largely driven by a pullback in new listings resulting in greater competition among buyers.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Enjoying our content? Subscribe to our free<\/em><\/strong><a href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em> weekly newsletter<\/em><\/strong><\/a><strong><em> to get Canadian real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The steepest price growth was seen in row properties, where the benchmark price reached a new record high of $387,400 &#8211; a month-over-month increase of 2.5% and a year-over-year increase of over 7%. Also reaching a new record high, the benchmark price of semi-detached properties increased by just over 2% from March, now at $593,200.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The benchmark price of an apartment rose month-over-month by 2% to $299,400, marking a more than 10% increase from April 2022. It\u2019s important to note that the apartment condominium sector was the only sector to experience a year-over-year sales increase and year-over-year new listings increase. Despite not seeing a price increase as high as the more affordable markets, detached house prices still rose to a new record high of $661,900.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.zoocasa.com\/calgary-ab-real-estate\/condos\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>View Calgary Apartment Condominiums for Sale<\/strong><\/a><\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"423\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/CREB-April-750x423.png\" alt=\"\" class=\"wp-image-22061\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/CREB-April-750x423.png 750w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/CREB-April-300x169.png 300w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/CREB-April-768x433.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/CREB-April-1536x865.png 1536w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/CREB-April-2048x1154.png 2048w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/CREB-April.png 600w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Demand Outpacing Supply, Making Conditions Increasingly Tight for Buyers<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Total residential sales were up from last month with 2,960 homes trading hands, however with only 3,133 new homes hitting the market the sales-to-new-listings ratio increased to 86%. A high sales-to-new-listings ratio indicates a strong sellers\u2019 market with demand far outpacing supply. This leaves months of supply at just over 1.2 months, meaning conditions are even tighter than they were in March.\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/best-canadian-cities-buying-apartment-single-income-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Top Canadian Cities for Buying an Apartment on a Single Income<\/strong><\/a><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Row properties have the tightest conditions with a sales-to-new listings ratio of 95%. Semi-detached and detached properties are in similarly tight conditions, with sales-to-new-listings ratios of 89% and 88% respectively.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As for the surrounding communities, month-over-month sales were up in <a href=\"https:\/\/www.zoocasa.com\/airdrie-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Airdrie<\/a>, but with new listings down it had a sales-to-new listings ratio near 100. <a href=\"https:\/\/www.zoocasa.com\/cochrane-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Cochrane<\/a> actually reported higher inventory than last year, however nearly all new listings were sold so it had an extremely high sales-to-new-listings ratio of 98%.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re looking for a home in Calgary, we\u2019re here to help. <a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\" rel=\"noreferrer noopener\">Give us a call today<\/a> to speak with an experienced real estate agent that can help you find exactly what you\u2019re looking for.&nbsp;<\/p>\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Looking in Calgary?<\/div>\n<div class=\"cta-body\">Contact us today to speak to a Realtor in your area<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/sell-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Home prices soared last month in Calgary, with the total unadjusted benchmark price in April climbing to $550,800 &#8211; a new monthly record high according to the Calgary Real Estate Board.&nbsp; Affordable Property Types Experienced the Most Gains&nbsp; Following months of extremely low supply and tightening conditions, prices reached new peaks in nearly all property [&hellip;]<\/p>\n","protected":false},"author":132,"featured_media":22058,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override":[{"single_blog_custom":"","sidebar":"","second_sidebar":"","share_position":"","share_float_style":"","post_date_format":"","post_date_format_custom":"","post_reading_time_wpm":"","zoom_button_out_step":"1","zoom_button_in_step":"1","number_popup_post":"1"}],"image_override":[{"single_post_thumbnail_size":"","single_post_gallery_size":""}],"trending_post_position":"","trending_post_label":"","sponsored_post_label":"","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo":"","sponsored_post_desc":""},"jnews_primary_category":{"id":""},"footnotes":""},"categories":[1112,1160],"tags":[],"class_list":["post-22056","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alberta","category-market-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sellers&#039; Market Conditions Pushing Prices to Record Highs in Calgary | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"Homes prices soared in Calgary in April 2023, reaching a new record high. 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