Calgary Home Sales Fell 0.8% In May

Home sales in Calgary during May fell 0.8% from a year earlier due largely to a decline in sales of detached and semi-detached houses.

According to the Calgary Real Estate Board, 3,092 properties were sold in the western Canadian city during May, down slightly from a year ago.

Despite the May sales decline, the real estate board said that activity was 34% higher than the long-term trend for the month.

The average price across all home categories was $605,300 in May, up 10% from a year earlier and nearly 1% higher than in the previous month of April.

New listings in Calgary gained 19% year-over-year, totaling 4,333 in May. A total of 3,402 units were in inventory during May, 6% higher than last year.

The real estate board said sales increased for more expensive homes during May, an encouraging sign for the housing market.

Properties in Calgary were on the market an average of 19 days before selling in May, down 20% from a year ago, said the board.

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