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Overview of June's Market Dynamics:

June's real estate sales in Calgary totalled 2,738, experiencing a 13% decline from last year's record highs. Despite this, sales remained robust, over 17% higher than the long-term averages for this time of year. Notably, even though sales for homes priced above $700,000 saw improvements, declines in more affordable housing categories impacted the overall numbers significantly.

Insights from Ann-Marie Lurie, Chief Economist at CREB®:

Ann-Marie Lurie highlighted that the downturn in sales can be attributed to the ongoing supply challenges in the lower-priced segments, which have restricted the market activity. "Inventory shortages in affordable housing continue to limit options for buyers, intensifying competition — over 40% of homes are selling above the listing price," stated Lurie.

Current Inventory and Market Conditions:

New listings in June slightly decreased relative to sales, keeping the sales-to-new-listings ratio high at 72%. Inventory levels showed some improvement from last year's lows, primarily due to increases in higher-priced properties, with current listings totalling 3,789 units. Despite these gains, inventory remains 40% below the long-term trends, maintaining a market that favours sellers with a 1.4-month supply.

Price Trends and District Highlights:

The market's tight conditions continued to push prices upward. In June, the unadjusted benchmark price for Calgary homes reached $608,000, marking a rise from the previous month and a significant 9% increase from last year. Price growth was most pronounced in the North East and East districts, highlighting regional variations in market recovery and demand.

Stay Updated with Adam Fyfe Real Estate:

For more in-depth analysis and regular updates on the Calgary housing market, make sure to subscribe to our channel. Whether you are buying, selling, or just keeping an eye on the market, Adam Fyfe Real Estate is here to provide you with all the information you need to navigate the Calgary real estate landscape effectively.

#CalgaryRealEstate #MarketUpdate #HousingTrends #AdamFyfeRealEstate #CalgaryHomes #RealEstateInvesting #PropertyMarket #CalgaryHousing

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📚 *Video Chapters* 📚

00:00 - Bank of Canada Interest Rates Affect on Calgary Housing
02:35 - Introduction to Adam Fyfe: Top Calgary Realtor
02:52 - Calgary Market Insights: Calgary Home Trends
07:05 - Detailed Analysis: Calgary Home Sales in 2024
10:41 - Exploring the Calgary Real Estate Landscape
11:41 - A Snapshot of The Calgary Housing Market in 2024
12:55 - How to properly Research Real Estate in Calgary
14:57 - Assessing Your Calgary Home's Value: 2024 Update
15:28 - Discover 2024's Most Desired Qaudrants in Calgary
16:47 - What's Next? Calgary Housing Market Forecast for 2024
17:28 - Connect with Adam Fyfe: Your Calgary Real Estate Expert

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Contact Adam Fyfe:
🏢 eXp Realty Canada
💻 Email: Realty@AdamFyfe.com
📱 Phone: 403-561-8747

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