Prices steady, but struggles in Alberta economy weighs on housing.
HOUSING MARKET FACTS
• Detached sales activity slowed across each district in the city, causing inventory gains. Inventory levels were only significantly higher than long-term averages in the North district, which is likely a reflection of the growth coming from new communities.
• Price changes in the detached market have varied in each district. Year-to-date, the districts seeing price declines have been limited to the North, North East, and East districts. Prices remain over three percent higher than last year in the City Centre and West districts. Citywide detached prices average $502,625 this year 0.49 percent higher than last year.
• Year-to-date apartment condominium sales totaled 823 units. This is 15 percent below last year and 27 percent below long-term averages. New listings have eased slightly over last year, but inventory levels remain elevated, keeping months of supply well above seven months.
• Elevated supply based on sales continues to weigh on apartment condominium prices. In April, the benchmark price totaled $256,700. This is nearly three percent below last year and 14 percent below monthly highs recorded in 2014.
• Year-to-date semi-detached prices remained relatively unchanged over benchmark prices from last year, as gains in the City Centre, North East, West, South, and East districts were offset by declines in the North, North West and South East areas.
• After the first four months of the year, row prices remain nearly one percent above levels recorded last year. Like many other property types, price trends vary depending on the district. Year-over-year price adjustments range from a 1.86 percent increase in the City Centre district to a 6.14 percent decline in the South district.