The Calgary Real Estate Board says the region experienced a record number of home sales during October and the pace of sales is on track to continue.
The Alberta real estate board said the region saw 2,186 sales in October, up 24% from 1,763 during the same month of 2020.
The board says those figures are more than 35% higher than longer-term averages and put the 23,848 home sold this year on pace to reach a record high.
The board says this year's Calgary sales are already 61% higher than average activity recorded over the past five years and 42% higher than the 10-year average.
The board also says new listings for October reached 2,500, up almost 2% from 2,460 in the same month a year ago.
Toronto Condo Market
At the same time, sales of new condominiums in the Greater Toronto Area (GTA) reached a record for the third-quarter as buyers flocked back to the high-rise segment of the housing market.
The latest data from market research firm Urbanation shows 7,773 new condo units were purchased in the GTA in the three-month period between July and September, up 22% compared to the same time last year, marking a new all-time high for the third quarter.
According to Urbanation, the suburbs accounted for more than half of the total sales, but the City of Toronto saw stronger overall sales growth at 40%.
Unsold inventory also fell, helping to push the average price per square foot for new condos still on the market up 10% to $1,231 – another record high.
The Greater Toronto condo market is now back in growth mode after a flood of units hit the market in the fall and winter months this past year as the pandemic-induced remote work shift led to a preference among many buyers for more living space, which had pressured condo prices.
