Canada Global(Web News) The Calgary Real Estate Board (CREB) says home sales in February were up nearly 23 per cent from last year as new listings surged.
Sales totaled 2,135 units, while dollar sales rose 41.3 percent to $1.25 billion, the board said.
New listings rose 13.6 percent to 2,711, while inventory was down just 14 percent from last year.
CREB Chief Economist Ann Marie Lowry says strong demand and tight supply are driving up prices in the city.
The benchmark price across all home types was $585,000 for the month, up 10 percent from a year ago.
Properties were on the market for an average of 24 days before selling in February, down about 27 percent from last year.