Blog

Market Report – May 2024

Market Update: Price Growth Continues Amidst Calgary’s Seller’s Market Calgary’s housing market remains robust, with April sales rising by seven percent year-over-year to 2,881 units. Although the growth pace has slowed slightly, sales are still 37 percent above the long-term average for April, primarily driven by more affordable, higher-density housing options. The recent passing of the City of Calgary’s blanket rezoning bylaw has also spurred increased activity from builders, developers, and speculators. April saw 3,491 new listings, an 11 percent increase from last year and three percent above the long-term average, helping to stabilize the inventory situation. However,

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Market Report – April 2024

March Madness 2024 Market Report March Madness extends beyond NCAA tournaments and over to Calgary’s Real Estate Market! March sales rose to 2,664 units, a 10 per cent year-over-year gain and much higher than long-term trends. While buyers welcomed the uptick in new listings over last month, they were still below what we typically see in March. There was not nearly enough sales relative to new listings to put any dent in the current low supply situation. In March, the sales-to-new listings ratio rose to 84 per cent, and the months of supply fell below one month which

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Market Report – March 2024

Despite Calgary experiencing a cold spell in February, our Real Estate Market heated up significantly! While new listings began appearing, they were met with equal or greater buyer demand. February saw sales surge nearly 25 percent year over year, largely due to the influx of new inventory. However, inventories have remained at near-historical lows as we move into what promises to be a frenzied spring market in Calgary and its surrounding communities. Currently, our months of supply sit at just over one month, and the average days on market have dropped to under 30 days, both experiencing a

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Market Update

Market Report – February 2024

January sees strong sales fueled by boost in new listings January sales rose to 1,650 units, a significant gain over last year’s levels and long-term trends. The growth was possible thanks to a rise in new listings totalling 2,137 units in January. New listings rose for homes priced above $300,000, but the largest gains occurred for homes priced above $700,000. The rise in new listings relative to sales did little to change the low inventory situation in the city.  With 2,150 units in inventory, levels are near the January record lows set in 2006 and are nearly 49

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Market Update

Market Report – January 2024

The Calgary housing market in 2023 was characterized by strong migration and persistent low supply, contributing to robust sales and driving prices to new record highs. Despite a slight easing in sales compared to the previous year, with 27,416 transactions, levels remained significantly higher than pre-pandemic norms. Notably, there was a shift towards more affordable apartment-style condominiums. “Higher lending rates dampened housing demand this year, but thanks to strong migration levels, housing demand remained relatively strong, especially for affordable options in our market,” said CREB® Chief Economist Ann-Marie Lurie. “At the same time, supply levels were low compared

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