Calgary and area real estate markets are trending to more balanced conditions. Transition to higher prices will be slow. Detached inventory in Calgary was easing to lower levels in Jan. and Feb. stablizing prices. Sales to new lisitng ratio has improved from Feb. 2016 to Feb 2017, 39% to 55%. Benchmark prices for detached homes were 1% lower than 2016. CREB says," sellers need to be realisitc with pricing". We may have realized the bottom of prices and it is forcasted to be a slow and steady recovery.
February 2017 Calgary and Area News
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