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There was no stopping Calgary’s real estate market last month as it set another monthly sales record. Recent data from the Calgary Real Estate Board shows that the city saw a record 2,441 sales last month, up 29 per cent from the same month last year. Sales in September marked the fifth consecutive record high with May, June, July and August all setting their own high watermarks.
The record-breaking activity came despite increasing borrowing costs and the benchmark price of a home in the city gaining nearly nine per cent to reach $570,300.
While new listings grew nearly 22 per cent to reach 3,191, supply fell about 42 per cent to less than 1.5 months. As well, inventory fell nearly 25 per cent.
Amid higher costs, condominiums continued to see the most growth in the market with a year-over-year increase of 57 per cent for sales. Its benchmark price was about $313,000, the most affordable segment, up 15 per cent year over year.
Semi-detached sales grew 26 per cent, while the benchmark increased 11 per cent to about $621,000.
Row home sales were up 22 per cent year over year. The benchmark price for the segment rose 17 per cent — the most among all segments — to more than $419,000.
Single-family detached homes continue to make up most activity in the market though sales growth is the least at 19 per cent last month over last year.
The benchmark for this housing type grew 11 per cent to reach more than $696,000.
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