Posts Tagged ‘Calgary Home Prices’

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Calgary Housing Market – Sept 1, 2025

Tuesday, September 2nd, 2025

What is really happening in the Calgary Real Estate Market?

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).

Sept 1, 2025, Highlights

The month of inventory rises again.

Inventory is down in all Sectors.

Prices are creeping down from last years highs.

 

Calgary Listing Inventory

For the month of August our Inventory decreased in all sectors. A decreasing inventory in August is quite typical at this time of year as less people want to list their home at the end of the summer. The trend of decreasing inventory is to be expected until the start of 2026.

 

Calgary Sales

August reported 1,989 sales, nearly nine per cent lower than last year. Sales have slowed compared to the elevated levels reported over the past four years. However, activity is still above long-term trends, reflecting relatively strong demand.

 

Sales Compared to 2024: 

Compared to July of 2024 our sales were down 193 or 9.7%. While this drop seems significant, it is because last year was an abnormally high month/year of sales. We are still trending above long-term averages in sales showing a relatively strong market.

 

  March April May June July August  
2024 2658 2876 3090 2374 2374 2182
2025 2159 2236 2568 2286 2099 1989
Change -499 -640 -522 88 -275 -193
% Change -18.88 -22.25% -16.89 -.04 -11.6% -9.7%

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price for August was down by $5,700 or .98% The main cause of this is our increased supply level giving buyers more choices. This decrease was seen across all sectors.

 

Current Months of Inventory (Absorption Rate): 

The months of inventory increased by only .05% however we saw a large loss of .37 in the Semi-Detached sector while all the other sectors increased. As you can see from my graph at the top the Apartment Condo sector continues to trend the highest.

 

My Prediction for what is ahead: 

In the short term (3-6 months), I believe, based on our trend is that we will continue to see our months of Inventory increase slightly every month which will put the entire market into a more balanced territory with prices decreasing slightly. What is interesting is when you look at specific communities some are up, and some are down. It is also interesting to note that while the only sector showing to be in a buyer’s market is the Apartment Condo sector but buyers in all sectors are acting like we a in a full-blown buyer’s market.

* 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 Realtors Stats

A Summary of the Calgary Real Estate Board Realtors Stats

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Posted in Blog, Home Buyers, Home Sellers, Market Snapshot, Real Estate Board's Statistics | Comments Closed

Calgary Housing Market – August 1, 2025

Saturday, August 2nd, 2025

What is really happening in the Calgary Real Estate Market?

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).

June 1, 2025, Highlights

Months of Inventory Increases again!

Prices Decline overall

Apartment Condos are now in Buyer’s market territory.

 

Calgary Listing Inventory

Our Inventory stayed steady for the month of July ending with 24 less listings that in June.

The only sector that saw an increase in inventory was the Attached Row sector and it was only 26 listings higher.

 

Calgary Sales

Sales for July were down by 187 sales overall.  Of this decrease the largest sector was the detached home sector with 163 less sales. The only sector that saw an increase in sales was the Attached Row sector with an increase of 25 sales.  Sales slowing in July is a normal pattern with summer holidays starting and stampede week slower sales are expected.  We can expect every month between now and the end of the year to have lower sales.

 

Sales Compared to 2024: 

Compared to July of 2024 our sales were down 275 or 11.6%.   While this drop seems significant, it is because last year was an abnormally high month/year of sales.

 

  Feb March April May June July
2024 2132 2658 2876 3090 2374 2374
2025 1721 2159 2236 2568 2286 2099
Change -411 -499 -640 -522 88 -275
% Change -19.28 -18.88 -22.25% -16.89 -.04 -11.6%

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price for July was only $3,300 lower than at the end of June.  The largest sector change was in the Attached Row sector which declined by $4,100.  The only sector that gained in July was the Semi-Detached sector which increased by $1,100

 

Current Months of Inventory (Absorption Rate): 

The Months of Inventory for July increased overall by .26

All sectors had similar increases except the Attached row sector which decreased by .16

Important to note that the Apartment Condo Sector has now officially moved into Buyer’s market territory.

 

My Prediction for what is ahead: 

In the short term (3-6 months), I believe, based on our trend is that we will continue to see our months of Inventory increase slightly every month which will put the entire market into a more balanced territory with prices decreasing slightly.  What is interesting is when you look at specific communities some are up, and some are down.  It is also interesting to note that while the only sector showing to be in a buyer’s market is the Apartment Condo sector but buyers in all sectors are acting like we a in a full blown buyers market.

 

Calgary Real Estate Board Realtors Stats

Calgary Real Estate Board Realtors Stats

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Calgary Housing Market: May 1, 2025

Thursday, May 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

Months of Inventory for Calgary Real Estate Market

 

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

 May1, 2025, Highlights

April showed a modest softening in all Sectors with prices remaining steady even with the market softening.

 

Calgary Listing Inventory

April saw another increase in our inventory levels, part of this being seasonal and part is showing a softening of the market. The increase overall was 13.83%. The Attached – Row sector increased by 21.7% and Semi – Detached homes showed a 19.2% increase while the Apartment sector increased by only 9.18%.

 

Calgary Sales:

Throughout April our sales overall increased by only 3.57% over March. All sectors’ sales grew at a similar rate except the Attached-Row sector which saw a decline of 11.25% This makes sense to me as in my opinion the attached-row sector has been over performing compared to the other sectors.

 

Sales Compared to 2024: 

Compared to April  of 2025 our sales were down 22.25%

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

were all record-breaking months so it would bee unrealistic to expect the same.

  Nov Dec Jan Feb March April
2024 1783 1362 1649 2132 2658 2876
2025 1797 1322 1451 1721 2159 2236
Change 14 40 198 -411 -499 -640
% Change .8% -3.0% 12.1 -19.28 -18.88 -22.25%

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price for April was only $1.400 lower than at the end of March. All market sectors were similar except the Attached- Row sector which increased by .75%

 

Current Months of Inventory (Absorption Rate): 

With the increase in inventory much larger that the increase in sales our Months of Inventory increased in all sectors by between .00 to .30 again except Attached-Row homes that showed an increase of .77  The changes over the last few months have now put every Sector into a balanced market position except detached homes that remain just into a Sellers Market Position.

 

My Prediction for what is ahead: 

In the short term (3-6 months), I believe, based on our trend is that we will continue to see our months of Inventory increase slightly every month which will put the entire market into a more balanced territory giving Buyer’s and Seller’s equal power.

 

*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.

Stats from the Calgary Real Estate Board

Calgary Real Estate Board Realtors Stats

Calgary Real Estate Board Realtors Stats

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Calgary Real Estate Market Snapshot – March 1, 2025

Monday, 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

Tuesday, 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 Snapshot for Aug 1, 2024

Thursday, 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 – June 1, 2024

Monday, June 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.

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).

May 2024 Highlights

Change is on the way.

  • Inventory is starting to increase (not substantially but consistently over last 3 weeks.
  • Every Sector remains in a deep Seller’s Market
  • Overall Benchmark Prices continue to rise.

 

Calgary Listing Inventory

Our listing inventory increased in May by 691 Listings or by 25.49% which in my opinion is substantial.  This is likely a sign that the market is starting to settle down.  The increase was in all sectors with Detached homes leading the pack.

 

Calgary Sales:

Sales increased again in May by 7.3% over April. This increase was evenly spread across all sectors except the Semi-Detached sector where it increased by only 4.

 

Sales Compared to 2023: 

Sales in May were down 25 sales (or .8%) from May of Last year.  This again is another indication that the market is starting to settle down a bit.

 

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

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price increased by another $1,600 0r .27% in May. Increases per sector were as follows: detached $11,900, Semi-Detached $9,600, Attached Row $4,400 and Apartment Condos decreased by $5,700.

 

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

Year to date the entire market has increased by $35,200 or 6.17% which is substantial. Assuming that our inventory continues to increase then the sharp increases in prices should slow down.

 

 Current Months of Inventory (Absorption Rate):  Our Months of increased in all sectors by a little. Detached homes and Semi-detached increased the most at .23.

 

My Prediction for what is ahead: 

Based on what I am seeing I believe we will see our Inventory grow over the next several months. We have to keep in mind that what is driving the market is immigration and until the immigration settles down, we may see an increase in inventory but we I believe it will be small and we will stay in a seller’s market for some time to come.

 

*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

Calgary Real Estate Board Stats

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Market Snapshot – Calgary Real Estate April 1, 2024

Tuesday, April 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.

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 2024 Highlights

A booming start to 2024!

  • Inventory increased but only marginally.
  • Sales Increased 10% over last year and are much higher than long term trends
  • Prices increased again!
  • Seller’s market continues….

Calgary Listing Inventory

Our listing inventory increased in March but only by 177 listings across all sectors. The only sector the inventory decreased was in the Semi- Detached sector and that was by only 17 listings.

Calgary Sales:

Sales increased by 529 over last month. While it is normal to see sales increase in March over February this is a significant increase. I attribute this to new listings picking up in March.

Sales Compared to 2023: 

Sales in March were 529 (or24.8%) over March of last year. I attribute this to new listings picking up a bit. Demand in Calgary is still substantially higher than supply.

 

  Jan Feb Mar Apr May June
2023 1198 1738 2135      
2024 1650 2135 2664      
Change +452 +397 +529      
% Change 37.7% 22.8% 24.8%      

 

  July Aug Sept Oct Nov Dec
2022 2249 2133 1893 1855 1642 1200
2023 2647 2729 2441 2171 1787 1366
Change +398 +596 +548 316 +145 +166
% Change +17.7% 27.9% +28.9% +17.1% 8.8% 15.5%

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price increased by another $12,600 or 2.15%. Increases were evenly distributed between all sectors except Apartment Condos which only saw an increase of $8,100 or 2.46%.

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

Year to date the entire market has increases by $27,500 or 4.82% which is substantial.

 

 Current Months of Inventory (Absorption Rate):  Our Months of Inventory declined again, this month by  .15 putting us into an even deeper Sellers Market. No sectors increased this month. Keep in mind that anything below 2.5 is in a seller’s market position so we are deep in Seller’s market territory and prices will continue to rise.

 

My Prediction for what is ahead:  Anything below 2.5 months of Inventory is in a seller’s market position so at .95 months of inventory we are deep in Seller’s market and prices will continue to rise. On the street I am seeing more offers on listings and the amount over list price appears to be rising.

 

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

 

See Calgary Real Estate Stats Below

Calgary Real Estate Board Stats

Calgary Real Estate Board Stats

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Calgary Real Estate Market Snapshot – March 1, 2024

Friday, March 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.

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).

February 2024 Highlights

A booming start to 2024!

  • Inventory increased but only marginally.
  • Sales Increased
  • Prices increased!
  • Seller’s market continues….

 

Calgary Listing Inventory

Our listing inventory increased in February but only by 205 listings of which half of the increase is in the Apartment sector.

 

Calgary Sales:

Sales increased by 485 sales (or 29.4%).  This number is not surprising as the end of the year is always the low point and sales will normally increase from here until May or June.

 

Sales Compared to 2023: 

It is also important to look at sales compared to the Previous year. Sales for February beat sales from February 2023 by 397 or 22.8%.

 

  Jan Feb Mar Apr May June
2023 1198 1738
2024 1650 2135
Change +452 +397
% Change 37.7% 22.8%

 

Calgary Real Estate Benchmark Sales Prices:

The overall Benchmark price increased by $12,700 or 2.22%. Increases were seen in all market sectors with Detached homes leading (2.72%) followed by Attached Row (2.37%), then Semi-detached homes at (2.26%) and finally Apartment Condos at 1.73%

 

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

Year to date the entire market has increases by 2.61% with 2.22% of that being in February only.

Again, all sectors are up year to date.

 

Current Months of Inventory (Absorption Rate): 

Our Months of Inventory declined again by .20 putting us into an even deeper Sellers Market. The only sector that increased was the Attached Row sector and it increased by .01%

Keep in mind that anything below 2.5 is in a seller’s market position so we are deep in Seller’s market territory and prices will continue to rise.

 

My Prediction for what is ahead:  Anything below 2.5 months of Inventory is in a seller’s market position so at 1.1 month of inventory we are deep in Seller’s market and prices will continue to rise.

 

*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

Calgary Real Estate Board Stats

 

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Calgary Real Estate Market Snapshot for Jan 1, 2024

Tuesday, January 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.

Graph of Months of Inventory

Graph of Months of Inventory

 

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

December 2023 Highlights

The Calgary Market remains tight – exceptionally low in supply.

  • Sales declined by 11.06%
  • Sales are up from last December.
  • Prices declined marginally.
  • Seller’s market continues….

 

Calgary Listing Inventory

Our listing inventory remains extremely low with a total of 2164 listings on the market. This number decreased by 27.6% from November. It’s important to note that this number is only 55 listings lower than on Dec 31, 2022.  It is quite normal that the number of new listings declines at this time of year and I’m confident we will start seeing this number increase.

Calgary Sales:

Sales in December were down by 421 or 23.5% from November. The decreases were somewhat consistent in all sectors. This decline is very normal in December as Holiday celebrations trump Real Estate for many people.

As I have said many times what is keeping our sales down is our Inventory if there were more listings we would certainly sell more. It is interesting to note that Row Houses only decreased by 5.2%

 Sales Compared to 2022: 

It is also important to look at sales compared to the Previous year. Sales for December were up by 13.8% from last year. The demand is still extraordinarily strong so the more we can list the more we sell.

 

  Jan Feb Mar Apr May June
2022 2004 3305 4091 3401 3071 2837
2023 1199 1740 2432 2690 3120 3146
Change -805 -1565 -1659 -711 +57 +309
% Change -40.1% -47.4% -40.55% -20.9% +1.9% +10.9%

 

  July Aug Sept Oct Nov Dec
2022 2249 2133 1893 1855 1642 1200
2023 2647 2729 2441 2171 1785 1366
Change +398 +596 +548 316 143 166
% Change +17.7% 27.9% +28.9% +17.1% 8.7% 13.8%

 

Calgary Real Estate Benchmark Sales Prices:

The overall benchmark price decreased by $2,600 this month. The largest decreases were in the Attached-Row sector followed by Detached and then Semi-Detached. Price of Apartment condos increased by $1,300.

 

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

For all of Calgary in 2023, we saw an increase in all sectors of 9.89% or $51,300.

The lowest dollar increase was apartment condos at $46,600 followed by Attached Row at $66,800 then Semi-Detached at $64,100, and the highest sector is Detached homes at $77,800. It is important to note that this is a Calgary number and each community within Calgary will be different – some higher and some lower.

 

Current Months of Inventory (Absorption Rate): 

All sectors except Apartment Condos saw a small decrease in the Months of Inventory. Apartment Condos increased by .12. All sectors remain fairly deep in a seller’s market position.

 

My Prediction for what is ahead:  In 2024, I believe we are going to see more of the same. I know the demand is outpacing the supply by quite a but. What this means if we list more homes then it will increase our Sales not our inventory so we can expect a low inventory throughout 2024. Sales will either stay on pace or increase, and the months of inventory will remain low keeping us in a seller’s market ultimately increasing 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.

 

See Stats from the Calgary Real Estate Market Below

Calgary Real Estate Board Stats

Calgary Real Estate Board Stats

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