Housing near Calgary sees rising inventories and prices

Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. More supply in Calgary’s bedroom communities was not enough to stem price increases in all markets last month.

Calgary Real Estate Board statistics for March show inventory rose substantially in many markets, amid diverging sales trends depending on the market. But every community saw increases in benchmark price. Airdrie saw inventory grow nearly 143 per cent year over year.



Its benchmark price saw the least pressure, up less than one per cent to $544,900, with a month-over-month trend inching downward. Sales there also fell about 21 per cent. In Cochrane, sales were flat as inventory grew 76 per cent year over year.

Its benchmark price grew nearly six per cent to $587,500. Chestermere saw resales grow 30 per cent in March from the same month last year, with its benchmark price up about four per cent to $713,800. Its prices have recovered in recent months after dropping, CREB data shows.

Inventory also grew nearly 139 per cent year over year. Okotoks was another municipality with falling year-over-year sales, down nearly 19 per cent. Still, its benchmark price increased almost four per cent to $630,300.

Inventory there trended downward month over month, but it still gained nearly 79 per cent from March last year. High River’s benchmark price of home increased nearly six per cent in March. Sales also grew year over year nearly 23 per cent while inventory — also trending downwards month over month — was about 16 per cent higher than last March.

Strathmore experienced declining year-over-year sales, down 45 per cent. The benchmark price, however, grew about five per cent to $444,800, continuing an upward trend over several months, despite inventory rising about 77 per cent year over year. Canmore saw the largest jump in price, up 11.

5 per cent to $1,091,300. Inventory has trended downward in recent months, but in March, it was up year over year by more than seven per cent. At the same time, sales grew more than nine per cent.

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