CALGARY — The Calgary Real Estate Board says December sales climbed by nearly 45 per cent year-over-year as 2021 ended with a record number of homes changing hands.
The Albertan board says Calgary saw 1,737 homes sold last month, up from 1,199 during December 2020.
Last month’s home sales brought the year-end total to 27,686, nearly 72 per cent higher than last year and more than 44 per cent higher than the 10-year average.
The average home price increased by 10 per cent last month to reach $477,977, while the average price across 2021 was $492,704.
New listings for December sat at 1,230, up almost five per cent from 1,172 a year ago.
CREB’s chief economist Ann-Marie Lurie say the figures indicate that the market is beginning 2022 with some of the tightest conditions seen in more than a decade.
“Concerns over inflation and rising lending rates likely created more urgency with buyers over the past few months,” she said, in a release.
“However, as is the case in many other cities, the supply has not kept pace with the demand causing strong price growth.”
This report by The Canadian Press was first published Jan. 4, 2022.