In their Spring Market Trends Report, RE/MAX found Calgary’s harsh winter didn’t keep people from entering the home market.
“Calgary experienced a red-hot seller’s market in the first two months of the year with listings 30 per cent lower than where they would be in a balanced market,” said the report.
RE/MAX reported 2,393 new listings posted in January, a four per cent decrease compared to the same time in 2013. In February and March however, listings increased to 2,711 and 3,319 respectively. As of the end of March there were 3,233 active listings, 19 per cent lower than the same time last year.
“Despite inventory increases, Calgary is expected to remain in a seller’s market,” said the report. “Multiple offers are commonplace and tight inventory has also created a domino effect for sellers trying to find a new property before listing their own.
Read the full report here.