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Calgary home sales up 462 per cent, reach hit record high in April: CREB

Last Updated May 3, 2021 at 12:28 pm MDT

A new home is displayed for sale in a new housing development in Ottawa on Tuesday, July 14, 2020. THE CANADIAN PRESS/Sean Kilpatrick

CALGARY — The Calgary Real Estate Board says the city set a new record for April home sales as the market continued to rebound from lows triggered by the COVID-19 pandemic.

The Alberta board says 3,209 homes were sold in the city in April compared with 571 during the same month last year, when the pandemic was beginning.

New listings soared by 227 per cent to reach 4,670, up from 1,425 last April.

CREB says the city’s inventory amounted to 6,070 homes, an increase from 5,645 during the prior April.

The benchmark housing price climbed to $451,400 in April, up from $413,200 at the same time last year.

The Calgary board says the recent surge in home sales and prices has likely been triggered by potential buyers wanting to enter the market before prices, interest rates and lending policies shift again.

This report by The Canadian Press was first published May 3, 2021.

The Canadian Press