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The city’s outlying communities saw an increase in supply last month after many experienced extended periods of falling inventories.
Calgary Real Estate Board recently released September market data, showing all major communities outside the city experienced increases in supply.
Airdrie saw the largest rise, jumping more than 63 per cent year over year to about 2.3 months.
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Cochrane’s supply grew to three months, up nearly 33 per cent, while Okotoks was up nearly 46 per cent to two months of supply. Chestermere’s supply rose about 13 per cent to more than four months. And High River had about 1.5 months of supply. Despite having the least supply among outlying markets, it still experienced a year-over-year increase of nearly 43 per cent.
Strathmore had nearly 2½ months of resale home supply, up close to 44 per cent. Last, Canmore had the most supply at more than five months, though it grew year over year only about three per cent.
Even with the increase in homes on the market, prices continued to rise.
In Airdrie, the benchmark price for all housing types grew nearly seven per cent to $551,000.
Cochrane’s benchmark reached $579,300, up about nine per cent, while Chestermere’s grew about eight per cent to $714,100.
Okotoks saw its benchmark price increase nearly nine per cent year over year to $630,300.
High River had one of the largest percentage jumps in benchmark price, up about 11 per cent to $493,400. In Strathmore, the benchmark was $426,800 last month, an increase of nearly seven per cent.
Canmore, despite having the most months supply of all outlying markets, also had the highest increase percentage-wise in benchmark price at 13 per cent to $1,059,400.
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