Calgary Housing Market April 2025

April 1st, 2025

What is really happening in the Calgary Real Estate Market you ask?

 The following graph shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.

Graph showing Months of Inventory for Calgary Real Estate Market

Graph showing Months of Inventory for Calgary Real Estate Market

Gord’s commentary for the month (just my opinion).

 April 1, 2025, Highlights

Although our listing inventory increased, our sales increased by almost the same percentage leaving our Months of Inventory at a similar level to last month. Prices increased in every sector.

Calgary Listing Inventory

Throughout March our listing inventory increased in all housing sectors by a total of 1009 listings or 24.34%. In my opinion this is mostly a seasonal adjustment, and we will likely see similar increases until mid year.

Calgary Sales:

Throughout March our Sales increased by 438 or 25.45 % over February. Again, sales increasing is typical of this time of year. We should see this trend for the next six months.

Sales Compared to 2024: 

Sales in March 2025 compared to March 2024 were down by 18.88%.

Yes, this is a big slowdown, however we must remember that Feb through June of last year!

were all record-breaking months.

  Oct Nov Dec Jan Feb March
2024 2169 1783 1362 1649 2132 2658
2025 2174 1797 1322 1451 1721 2159
Change 5 14 40 198 -411 -499
% Change .2% .8% -3.0% 12.1 -19.28 -18.88

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price in March increased by $4,900 or .83%.

The largest percentage increases were in the Attached Row House sector at 1.63%.

Following were the Detached and Semi-Detached sectors with an increase of 1.22& and 1.23%. Apartment Condos increased but only by .57%.

Current Months of Inventory (Absorption Rate): 

With our Sales increasing at a marginally lower rate than our Inventory, the Months of Inventory increased by .02 in March. Breaking this down the Detached home sector decreased by .09% while all other categories increased.

 My Prediction for what is ahead: 

I’m sure it’s not news to say that the Trump tariffs are causing uncertainty in the world. This uncertainty causes people to put plans on hold to see what happens. What is interesting is that even with all the uncertainty our sales are maintaining a good pace. Based on what I am seeing on the street, there are a lot of people in a hold pattern and once we get over the Trump tariffs then our market is going to explode again due to the pent-up demand. Unfortunately I can’t tell you if this will be over in a month or 4 years! Sorry my crystal ball is broken.

 

*Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

Calgary Real Estate Board Realtors Stats

Calgary Real Estate Board Realtors Stats

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Calgary Real Estate Market Snapshot – March 1, 2025

March 3rd, 2025

What is really happening in the Calgary Real Estate Market?

 Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.

Graph showing Months of Inventory for Calgary Real Estate Market

Graph showing Months of Inventory for Calgary Real Estate Market

 

 

Gord’s commentary for the month (just my opinion).

 March 1, 2025 Highlights

Calgary’s sales increase over January outpaced the listing inventory by 4.71% moving the entire market to a slightly deeper Seller’s market.  What I am noticing is that Buyer’s are acting more like we are in a Buyer’s market and not rushing into their purchase.

Calgary Listing Inventory

Throughout February our listing inventory increased in all housing sectors by a total of 13.9%.  In my opinion this is simply a seasonal adjustment, and we will likely see similar increases until mid year.

Calgary Sales:

Throughout February our Sales increased by 18.61% over January.  Again, sales increasing is typical of this time of year.  Looking at sales it is important to note that Sales were higher in February than our historical February average although they are lower than the last few years.  We should see this trend for the next six months.

 Sales Compared to 2023: 

Sales in January compared to February 2025 were down by 19.28% compared to February 2024 showing a slight slowdown.

  Sept Oct Nov Dec Jan Feb
2023 2430 2169 1783 1362 1649 2132
2024 2003 2174 1797 1322 1451 1721
Change -427 5 14 40 198 -411
% Change 17.6% .2% .8% -3.0% 12.1 -19.28

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price in February increased by $4,600 or .79%

The largest increases were in the Detached and Semi-detached sectors. Of interest the Attached Row sector only increased by $1,800 which is low compared to recent history. The Apartment sector increased by $2800 in February.

 

Current Months of Inventory (Absorption Rate): 

With our Sales increasing at a slightly higher rate than our Inventory the Months of Inventory decreased by .1 in February.  Increases were seen in the Detached and Semi-Detached Sectors while the Attached Row and apartment Condo sector both decreased.

 

My Prediction for what is ahead: 

First, I will say that anything could happen with the change in the US government and how the Canadian government will react with new tariff situation – today this is anyone’s guess.

Putting that aside, here is what it looks like to me. We are already in a tight (Seller’s market) to start off the new year. This combined with lower interest (more to come) which increases demand. In my opinion this indicates that we should have another busy year in Real Estate unless the Trump factor kicks in then it’s anyone’s guess.  Unfortunately, it sure looks like there is going to be a lot of uncertainty throughout Trumps entire term which will hold the entire market back somewhat.

I do believe there is a pent-up demand – at my open house this weekend I had over 40 people come through in just over 2 hours. Yes, there are a lot of people looking.

*Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

 

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

Calgary Real Estate Board Realtors Stats

Calgary Real Estate Board Realtors Stats

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Calgary Real Estate Market Snapshot – Feb 1, 2025

February 4th, 2025

What is really happening in the Calgary Real Estate Market?

 Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.

Graph showing Months of Inventory for Calgary Real Estate Market

Graph showing Months of Inventory for Calgary Real Estate Market

 

Gord’s commentary for the month (just my opinion).

January 2024 Highlights

Calgary saw an increase in both inventory and sales however the increase in inventory was higher than sales pushing our Months of Inventory up in all housing sectors except Semi-detached homes. Prices decreased slightly in all sectors except Detached Homes where they increased by $3300.

Calgary Listing Inventory

Through January our listing inventory increased in all housing sectors by a total of 21.75%. This seems high but a good portion of this is strictly seasonal.

Calgary Sales:

Through January our Sales increased by 9.76% which again is typical of the time of year. We should see this trend for the next six months.

Sales Compared to 2023: 

Sales in January compared to January 2024 were down by 12.1% showing a slight slowdown.

  Aug Sept Oct Nov Dec January
2023 2716 2430 2169 1783 1362 1649
2024 2186 2003 2174 1797 1322 1451
Change July -427 5 14 40 198
% Change 19.6% 17.6% .2% .8% 3.0% 12.1

 Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price in December declined by $300. or .05%. This decline was fairly even across all sectors except Detached homes which saw an increase of $3300. All other sectors saw declines from $1000 to $4000.

 Current Months of Inventory (Absorption Rate): 

With our inventory decreasing by more than sales increased we saw the months of inventory increase overall by .25   The only Sector that decreased is the Semi-Detached sector and that only decreased by .09.  Take note that the Condominium sector increased to 3.5 months of Inventory pushing it near a Buyers Market.

 

My Prediction for what is ahead: 

First, I will say that anything could happen with the change in the US government and how the Canadian government will react with new tariff situation – today this is anyone’s guess.

Putting that aside, here is what it looks like to me. We are already in a tight (Seller’s market) to start off the new year. This combined with lower interest (more to come) which increases demand. In my opinion this indicates that we should have another busy year in Real Estate unless the Trump factor kicks in then it’s anyone’s guess.  Unfortunately, it sure looks like there is going to be a lot of uncertainty throughout Trumps entire term which will hold the entire market back somewhat.

 

*Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

 

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

 

See Calgary Real Estate Stats on Next Page Below

Calgary Real Estate Board Realtors Stats

Source: Calgary Real Estate Board Realtors Stats

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Calgary Real Estate Market as of Jan 1, 2025

January 2nd, 2025

What is really happening in the Calgary Real Estate Market?

 Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.

Months of Inventory for Calgary Real Estate Market

Graph showing Months of Inventory for Calgary Real Estate Market

 

Gord’s commentary for the month (just my opinion).

December 2024 Highlights

  • In December we saw a substantial decrease in our Inventory (decrease of 31.32% )
  • In December we saw a substantial decrease in sales (down by 26.43%)
  • With the decrease in Inventory outpacing the decrease in Sales our total months of inventory dropped again leaving us starting the new year with a lack of Inventory.

 Calgary Listing Inventory

The Calgary listing Inventory decreased in December by 1363 listings or 31.32%. A decrease in inventory in December is normal but this decrease is larger than what I would call a seasonal trend.

Calgary Sales:

Sales across all sectors except decreased in December.  This is what I would call a seasonal drop as during the holidays a lot of people move their focus from Real Estate to family.

 Sales Compared to 2023: 

Sales in December compared to December 2024 were up down by only 3% which tells me that this is just a typical seasonal trend.

  Jan Feb Mar Apr May June
2023 1198 1738 2135 2686 3117 3140
2024 1650 2135 2664 2881 3092 2738
Change +452 +397 +529 +195 -25 -402
% Change 37.7% 22.8% 24.8% 7.3% – .8% -12.8%

 

  July Aug Sept Oct Nov Dec
2023 2644 2716 2430 2169 1783 1362
2024 2380 2186 2003 2174 1797 1322
Change -264 -530 -427 5 14 40
% Change <10% 19.6% 17.6% .2% .8% 3.0%

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price in December declined by $4,600. Or .78% This decline was fairly even across all sectors except Semi-Detached homes which saw an increase of $2500.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

For 2024 the entire market has increased by $13,200 or 2.32%.  The amount of increase varied depending what sector you look at:

Sector                  Jan 1, 2024         Jan 1, 2025           Increasee         % Increase

Detached 697,400 747,500 50,100 7.18%
Semi Detached 627,100 677,600 50,500 8.05%
Attached – Row 425,100 447,400 22,300 5.25%
Apartment 321,400 332,400 11,000 3.42%
Total City 570,100 583,300 13,200 2.32%

 

Current Months of Inventory (Absorption Rate):  With our Inventory decreasing by more than our sales decreased Our Months of Inventory stayed declined by .16  This puts all sectors in a Seller’s Market with the exception of Apartment Condos which currently sit in a balanced market position.

My Prediction for what is ahead: 

First, I will say that anything could happen with the change in the US government and how the Canadian government will react with new laws – today this is anyone’s guess.

Putting that aside here is what it looks like to me. We are already in a tight (Seller’s market) to start off the new year.  This combined with lower interest (more to come) which increases demand.  In my opinion this indicates that we should have another busy year in Real Estate unless the Trump factor kicks in then it’s anyone’s guess.  By the end of February we should have a lot more certainty in what’s going to happen in 2025.

*Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

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Calgary Real Estate Market Snapshot – December 1, 2024

December 4th, 2024

What is really happening in the Calgary Real Estate Market?

 Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.

Months of Inventory for Calgary Real Estate Market

Graph showing Months of Inventory for Calgary Real Estate Market

 

 Gord’s commentary for the month (just my opinion).

November 2024 Highlights

  • A substantial decrease in inventory outpaced the smaller drop in sales bringing our Months of Inventory down again so we are heading more into a Sellers Market.

 Calgary Listing Inventory

The Calgary listing Inventory decreased in November by 614 listings or 12.36%. To put this number in perspective the decrease in inventory in October 2024 was only 119 which is more of a seasonal drop.

 Calgary Sales:

Sales across all sectors except Apartment condos decrease moderately this month. Sales of Apartment condos increase over October by 59 so it’s nice to see a little improvement there.

 Sales Compared to 2023: 

Sales in October compared to 2023 were up by 5. Typically, in October we will see a seasonal decline, so October was a good month. As you can see from below sales compared to last year have been way down from last year for the last 3 months, so this is showing some recovery.

 

  Jan Feb Mar Apr May June
2023 1198 1738 2135 2686 3117 3140
2024 1650 2135 2664 2881 3092 2738
Change +452 +397 +529 +195 -25 -402
% Change 37.7% 22.8% 24.8% 7.3% – .8% -12.8%

 

  July Aug Sept Oct Nov Dec
2023 2644 2716 2430 2169 1783  
2024 2380 2186 2003 2174 1797  
Change -264 -530 -427 5 14  
% Change <10% 19.6% 17.6% .2% .8%  

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price in November declined by $4,600. Or .78% This decline was consistent across all sectors.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Year to date the entire market has increased by $17,800 or 3.12%. The largest increase has been detached homes at $52,700 while the smallest increase was in Apartment condos at $17,800.

 

Current Months of Inventory (Absorption Rate):  Our Months of Inventory stayed flat in all sectors except Apartment Condos which decreased by .53.

My Prediction for what is ahead: 

First, I will say that anything could happen with the change in the US government and how the Canadian government will react with new laws – today this is anyone’s guess.

Putting that aside here is what it looks like to me. We are already in a tight market and if December follows November’s direction, we will end the year in a very tight (low inventory) market. In my opinion this is likely and once the buyers come out in the new year it could be another crazy year with multiple offers and prices going up yet again.

 

*Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

 

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

 

See Calgary Real Estate Stats  Below

 

Calgary Real Estate Board Stats Summary

This chart shows the number of listings, sales, Benchmark Price and Months of Inventory for all sectors of the Calgary Real Estate Market for the last 2 months along with the change. Numbers are taken from the Calgary Real Estate Board Realtors Stats package.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Calgary Real Estate Market Snapshot -Nov 1, 2024

November 5th, 2024

What is really happening in the Calgary Real Estate Market?

 Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading. As you can see our months of inventory is has flattened out.

Graph showing Months of Inventory for Calgary Real Estate Market

Graph showing Months of Inventory for Calgary Real Estate Market

 

Gord’s commentary for the month (just my opinion).

October 2024 Highlights

  • Appears that the Market Slowdown has stopped.
  • Months of Inventory for Calgary only changed by .05 in October
  • Sales for October were 5 sales higher than last October.

 Calgary Listing Inventory

The Calgary listing Inventory decreased in October by 98 listings. It is important to note that listings over $1,000,000 increased and the Inventory of lower priced homes decreased.

  Calgary Sales:

Sales across all sectors remained flat from September, however sales of detached homes increased by 129 homes.

 Sales Compared to 2023: 

Sales in October compared to 2023 were up by 5.  Typically, in October we will see a seasonal decline, so October was a good month. As you can see from below sales compared to last year have been way down from last year for the last 3 months, so this is showing some recovery.

 

  Jan Feb Mar Apr May June
2023 1198 1738 2135 2686 3117 3140
2024 1650 2135 2664 2881 3092 2738
Change +452 +397 +529 +195 -25 -402
% Change 37.7% 22.8% 24.8% 7.3% – .8% -12.8%

 

  July Aug Sept Oct Nov Dec
2023 2644 2716 2430 2169
2024 2380 2186 2003 2174
Change -264 -530 -427 5
% Change <10% 19.6% 17.6% .2%

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price in October declined by $4400.  What’s interesting is that detached homes declined by $3,200 and Apartment Condos decreased by $3300

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Year to date the entire market has increased by $26,800 or 4.7% which is substantial.

 

Current Months of Inventory (Absorption Rate):  Our Months of Inventory stayed flat in all sectors except detached homes which decreased by .41

 

My Prediction for what is ahead: 

Yes, the market has slowed dramatically from last year however we are still in a very tight market and with things flattening out in October with a very low overall months of Inventory we could likely end off the year in a tight market. If this happens then once seasonal demand starts to increase again it could put us back into a frenzied seller’s market.

 

*Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

 

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

Calgary Real Estate Board Stats Summary

Calgary Real Estate Board Stats Summary

 

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Calgary Real Estate Market Snapshot – October 1, 2024

October 1st, 2024

What is really happening in the Calgary Real Estate Market?

 

Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading. As you can see our months of inventory is heading upwards.

Oct 1, 2024 Months of Inventory

Graph showing Months of Inventory for Calgary Real Estate Market

Gord’s commentary for the month (just my opinion).

Sept 2024 Highlights

Change is here:

  • When we have such a long period of price increases it is only natural for them to come down and bounce around until they settle where they need to land.
  • Our Months of Inventory continues to rise (see graph above. We are now in a Buyer’s market position for Apartment Condos, and a balanced position for Detached Homes.
  • Inventory continues to rise a little each week.
  • Overall Benchmark Prices Decreased a little (a total for all sectors of $4,900 in the month of September.

Calgary Listing Inventory

The Calgary listing Inventory increased again in September in all sectors. Detached homes saw the largest increase of 15.77%. The lowest increase was in the Apartment Condo Sector – 9.96%

Calgary Sales:

Sales in September slowed again. Sales were down by 183 for all sectors from August Sales.  Sales were also down 17.6% from last September.  It is important to note although sales are down, they are still higher than our long-term average.

 Sales Compared to 2023: 

Sales in September compared to 2023 were down by 427 or (17.6%) This tells me the slowdown is not just seasonal, but that market is slowing.

 

  Jan Feb Mar Apr May June
2023 1198 1738 2135 2686 3117 3140
2024 1650 2135 2664 2881 3092 2738
Change +452 +397 +529 +195 -25 -402
% Change 37.7% 22.8% 24.8% 7.3% – .8% -12.8%

 

  July Aug Sept Oct Nov Dec
2022 2644 2716 2430      
2023 2380 2186 2003      
Change -264 -530 -427      
% Change <10% 19.6% 17.6%      

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price declined by a total of $4,900. Or .81%. The largest declines were in the Detached sector, the Semi-Detached sector and the Attached Row sector.  The lowest decline was in the Apartment Condo sector, and it was only $1500.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Year to date the entire market has increased by $26,800 or 4.7% which is substantial.

Current Months of Inventory (Absorption Rate):  Our Months of Inventory increased in all sectors. The increases were between .10 to .79 with the lowest increase in the Semi-Detached Sector and the largest increase of .79 was in the Apartment Condo Sector.

My Prediction for what is ahead: 

In the next few months, I predict more of the same, Inventory rising, Sales dropping and prices to drop a little.

In the longer term, we are now also seeing decreases in the Interest Rates and there is still huge migration which leads me to speculate that either late this year or early next year we may see another decrease in inventory and rising prices again.

 

*Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

 

Calgary Real Estate Board Stats Summary

Calgary Real Estate Board Stats Summary

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September : Calgary Real Estate Market Snapshot

September 3rd, 2024

What is really happening in the Calgary Real Estate Market?

Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading. As you can see our months of inventory is heading upwards.

Graph showing Months of Inventory for Calgary Real Estate Market

Graph showing Months of Inventory for Calgary Real Estate Market

 

Gord’s commentary for the month (just my opinion).

August 2024 Highlights

Change is here:

  • Our Months of Inventory continues to rise (see graph above) however we are still in a Seller’s Market Position.
  • We are trending quickly towards a more balanced market.
  • Inventory continues to rise a little each week.
  • Overall Benchmark Prices Decreased a little in the month of August.

 

Calgary Listing Inventory

The Calgary listing Inventory increased again in August to 2.05 months of Inventory, a number that has not been seen since 2022. Although the Inventory increased again, we are still 17% lower than the long-term average for the month of August. One week does not make a trend nut last week say a decrease in inventory for the first time in 8 weeks.

 

Calgary Sales:

Sales in August slowed again and were 194 (8.15%) lower than the month of July. I see this as more of a seasonal decrease.

 

Sales Compared to 2023: 

Sales in August compared to 2023 were down by 530 or (19.6%) This tells me the slowdown is not just seasonal, but that market is slowing.

 

  Jan Feb Mar Apr May June
2023 1198 1738 2135 2686 3117 3140
2024 1650 2135 2664 2881 3092 2738
Change +452 +397 +529 +195 -25 -402
% Change 37.7% 22.8% 24.8% 7.3% – .8% -12.8%

 

  July Aug Sept Oct Nov Dec
2022 2644 2716        
2023 2380 2186        
Change -264 -530        
% Change <10% 19.6%        

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price declined by a total of $4,900. Or .81%. The largest declines were in the Detached sector and the Semi-Detached sector.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Year to date the entire market has increased by $31,700 or 5.56% which is substantial.

 

Current Months of Inventory (Absorption Rate):  Our Months of Inventory increased in all sectors. The increases were between .18 to .51 with the lowest increase in the Detached Sector and the largest increase of .51 was in the Semi-detached sector.

 

My Prediction for what is ahead: 

Based on what the current numbers are telling me, I believe for the next few months the market will level off if not slow a little more.

In the longer term, we are now also seeing decreases in the Interest Rates and there is still huge migration which leads me to speculate that either late this year or early next year we may see another decrease in inventory and rising prices again.

 

*Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

 

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

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Calgary Real Estate Market Snapshot for Aug 1, 2024

August 1st, 2024

What is really happening in the Calgary Real Estate Market?

 

Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading. As you can see our months of inventory is heading up.

Graph showing Months of Inventory for Calgary Real Estate Market

Graph showing Months of Inventory for Calgary Real Estate Market

 

 

Gord’s commentary for the month  (my opinion).

July 2024 Highlights

Change is here:

  • Our Months of Inventory continues to rise. We are still technically in a Sellers Market, but we are trending quickly towards a more balanced market.
  • Inventory continues to rise a little each week.
  • Overall Benchmark Prices stayed much the same over July.

 

Calgary Listing Inventory

Our listing inventory increased again in July. All sectors increased by between 9.5%-12% except the Semi-Detached sector where the Inventory decreased by 2%.

 

Calgary Sales:

Sales in July slowed and ended up being 13.11% lower than Junes Sales. Part of this is the normal

trend of sales slowing in the summer due to vacations, but I believe a larger part of it is less buyers

pulling the trigger on a home purchase.

 

Sales Compared to 2023: 

Sales in July compared to 2023 were down 264 sales or 10.0% which tells me the slowdown is not just seasonal.

This is another indication to me that the market is finally starting to slow.

 

  Jan Feb Mar Apr May June
2023 1198 1738 2135 2686 3117 3140
2024 1650 2135 2664 2881 3092 2738
Change +452 +397 +529 +195 -25 -402
% Change 37.7% 22.8% 24.8% 7.3% – .8% -12.8%

 

  July Aug Sept Oct Nov Dec
2022 2644
2023 2380
Change -264
% Change <10%

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price declined by a total of $1300. Or .21% so a small change.  which is a much smaller increase than what we have been seeing.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Year to date the entire market has increased by $36,600 or 6.42% which is substantial.

 

Current Months of Inventory (Absorption Rate):  Our Months of Inventory increased in all sectors. The increases were quite substantial compared to what we have seen in the last 8 months. Increases were:  Semi-Detached – .18,  Detached -.39, Attached Row- .16, Apartment Condos -.36

 

My Prediction for what is ahead: 

I believe the landscape has changed and the market will continue to soften over the next few months. I believe we will get back to a balanced market and prices will stabilize. My gut feel is that we will not get into a buyer’s market soon as Calgary is still seeing vast numbers of people moving here which is likely to keep the market active.

 

*Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

 

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

Calgary Real Estate Boards Stats

Calgary Real Estate Boards Stats

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Calgary Real Estate Market Snapshot for July 1, 2024

July 2nd, 2024

What is really happening in the Calgary Real Estate Market?

 

Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading. As you can see the months of Inventory started increasing for the first time in recent history in June.

Graph showing Months of Inventory for Calgary Real Estate Market

Graph showing Months of Inventory for Calgary Real Estate Market

 

Gord’s commentary for the month (just my opinion).

June 2024 Highlights

Change is on the way.

  • Inventory continues to rise a little each week.
  • The Market is slowing.
  • Every Sector remains in a deep Seller’s Market
  • Overall Benchmark Prices continue to rise but the increases are getting smaller.

 

Calgary Listing Inventory

Our listing inventory increased slowly but steady in June. Increases ranged between sectors at 10 % – 12% except the Attached Row Sector which increased by 15.8%.

Calgary Sales:

Sales in June decreased by 11.2% with the smallest decrease in the Detached sector at 7.73% and the largest decrease in the Attached Row sector at 19.26% Sales decreasing in June is a normal trend but its also a big change compared to what we have been seeing the last year. Yes, the market is slowing.

Sales Compared to 2023: 

Sales in June compared to 2023 were down 402 sales or 12.8%. This is another indication to me that the market is finally starting to slow.

 

  Jan Feb Mar Apr May June
2023 1198 1738 2135 2686 3117 3140
2024 1650 2135 2664 2881 3092 2738
Change +452 +397 +529 +195 -25 -402
% Change 37.7% 22.8% 24.8% 7.3% – .8% -12.8%

  

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price increased by a total of $2,700 or .45% which is a much smaller increase than what we have been seeing. Sectors increases were consistent from .45% to 1.19%.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Year to date the entire market has increased by $37,900 or 6.65% which is substantial. Increases for sectors range from Detached Homes (10.07%), Semi-Detached Homes (9.41%), Attached-Row (9.29%), Apartment Condos (7.25%).

 

Current Months of Inventory (Absorption Rate):  Our Months of Inventory increased in all sectors by a little. All sectors were similar with increases between .24 and .34. All Sectors are between 1.13 months to 1.54 month putting every sector still in a Sellers Market Position.

 

My Prediction for what is ahead: 

Based on what I am seeing I believe we will continue to see our Inventory grow over the next several months. If the same trend continues then we would hit a balanced market withing 3 to 4 months.

 

*Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

 

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

 

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