Five out of seven communities near Calgary reported slower home sales.
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Real estate resales fell in June in most of Calgary’s bedroom communities, but the decline in demand was not enough to stop prices from increasing.
Statistics from the Calgary Real Estate Board show that sales fell in five out of seven communities it tracks. The largest market, Airdrie saw sales drop about five per cent year over year. Despite the drop and a nearly 10 per cent rise in new listings, the benchmark price still increased nine per cent to reach $554,500.
Sales also fell in Chestermere by 8.5 per cent amid rising supply, up 41 per cent. Yet prices gained 4.5 per cent with the benchmark price reaching $694,700.
Okotoks saw one of the largest declines in year-over-year sales at about 17 per cent. Even with new listings up slightly, about two per cent, the benchmark price grew about five per cent to $615,800.
The steepest drop in sales was in Strathmore at about 29 per cent. There, new listings also fell about 19 per cent. Its benchmark price still increased about 10 per cent to $433,500.
Canmore sales decreased 4.5 per cent as supply jumped almost 12 per cent. Yet the benchmark price reached about $1.018 million, up more than 10 per cent.
Only High River and Cochrane saw sales growth year over year in June.
In High River, sales were up almost seven per cent. New listings dropped about five per cent, while its benchmark price rose about six per cent to $483,000.
Sales in Cochrane gained 7.5 per cent while new listings were up about nine per cent year over year in June. Its benchmark price also grew nearly nine per cent to reach $571,100.