Calgary Market Report Infographics

Friday, February 2, 2024 8:47:48 PM UTC
INFOGRAPHICS: January 2024 CREB City And Region Market Reports
CREB City and Region Market Reports

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 per cent below the long-term average for the month.

“Supply challenges have been a persistent problem since last year. This month’s gain in new listings has helped provide options to potential purchasers, supporting sales growth. However, the growth in sales prevented any significant adjustments in supply, keeping conditions tight and supporting further price growth,” stated Ann-Marie Lurie, Chief Economist at CREB®.

Read the full report on the CREB website!

 


 

The following data is a comparison between January 2024 and January 2023 numbers, and is current as of February 2024. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view!

 

Download Printable Version – January 2024 CREB, City of Calgary Report Part 1
Download Printable Version – January 2024 CREB, City of Calgary Report Part 2
Download Printable Version – January 2024 CREB, Calgary Region Report

 

January 2024 CREB Reports January 2024 CREB Reports January 2024 CREB Reports

 

 

 


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INFOGRAPHICS: December 2023 CREB City And Region Market Reports
CREB City and Region Market Reports

Strong migration and low supply drive Calgary housing prices in 2023

Sales in 2023 did ease relative to last year’s peak, but with 27,416 sales, levels were still far higher than long-term trends and activity reported before the pandemic. While sales stayed relatively strong, there was a notable shift in activity toward more affordable apartment condominiums style homes.

“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 to the demand throughout the year, resulting in stronger than expected price growth.”

Inventory levels were persistently below long-term trends for the city throughout most of the year, averaging a 44 per cent decline over the 10-year average. We also saw the months of supply remain well below two months throughout most of the year across homes priced below $1,000,000.

The persistently tight conditions contributed to our city’s new record high price. While the average annual benchmark price growth did slow from 12 per cent in 2022 to nearly 6 per cent growth in 2023, the price growth was still relatively strong especially compared to some markets in the country.

Read the full report on the CREB website!

 


 

The following data is a comparison between December 2023 and November 2022 numbers, and is current as of January 2024. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view!

 

Download Printable Version – December 2023 CREB, City of Calgary Report Part 1
Download Printable Version – December 2023 CREB, City of Calgary Report Part 2
Download Printable Version – December 2023 CREB, Calgary Region Report

 

 

 

 


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INFOGRAPHICS: November 2023 CREB City And Region Market Reports

I ncreased listings, strong sales, and price growth

New listings in November reached 2,227 units, nearly 40 per cent higher than the exceptionally low levels reported last year at this time. Gains in new listings occurred across most price ranges, but the most significant gains occurred from homes priced over $600,000.

Despite the year-over-year jump in new listings, inventory levels remained low thanks to relatively strong sales. With 1,787 sales in November, the sales to new listings ratio remained high at 80 per cent, and the months of supply remained below two months.

“Like other large cities, new listings have been increasing,” said CREB® Chief Economist Ann-Marie Lurie. “However, in Calgary, the gains have not been enough to change the low inventory situation thanks to strong demand. Our market continues to favour the seller, driving further price growth.”

Read the full report on the CREB website!

 


 

The following data is a comparison between November 2023 and November 2022 numbers, and is current as of December 2023. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view!

 

Download Printable Version – November 2023 CREB, City of Calgary Report Part 1
Download Printable Version – November 2023 CREB, City of Calgary Report Part 2
Download Printable Version – November 2023 CREB, Calgary Region Report

 

 

 

 


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INFOGRAPHICS: October 2023 CREB City And Region Market Reports

Price gains continue in Calgary’s real estate market as inventory remain slow

October sales activity slowed over the last month in alignment with typical seasonal patterns. However, with 2,171 sales, levels were 17 per cent higher than last year and amongst the highest levels reported for October. Sales activity has been boosted mainly through gains in apartment condominium sales as consumers seek affordable housing options during this period of high-interest rates.

New listings also improved this month compared to last year, reaching 2,684 units, reflecting the highest October levels reported since 2015. Despite the gain, relatively strong sales prevented any significant shift in inventory levels, which remain over 40 per cent lower than levels traditionally available in October.

“Despite some recent improvements in new listings, supply levels remain challenging in our market,” said CREB® Chief Economist Ann-Marie Lurie. It will take some time to see a shift toward more balanced conditions and ultimately more price stability.”

Read the full report on the CREB website!

 


 

The following data is a comparison between September 2023 and September 2022 numbers, and is current as of October 2023. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view!

 

Download Printable Version – October 2023 CREB, City of Calgary Report Part 1
Download Printable Version – October 2023 CREB, City of Calgary Report Part 2
Download Printable Version – October 2023 CREB, Calgary Region Report

 

 

 

 


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INFOGRAPHICS: September 2023 CREB City And Region Market Reports

Calgary home sales at record highs in September, yet supply remains a challenge

Sales reached another record high in September with 2,441 sales. Despite the year-over-year gains reported over the past four months, year-to-date sales are still nearly 12 per cent lower than last year’s levels.

New listings also improved this month compared to last year and relative to sales. This caused the sales-to-new listings ratio to fall to 76 per cent, preventing further monthly declines in inventory levels.

Nonetheless, inventory levels in September remained over 24 per cent lower than levels seen last year and, when measured relative to sales activity, has not changed enough to cause any significant shift in supply and demand balances. As of September, the months of supply has remained relatively low at less than two months.

“Supply has been a challenge in our market as strong inter-provincial migration has elevated housing demand despite higher lending rates,” said CREB® Chief Economist Ann-Marie Lurie. “While new listings are improving, it has not been enough to take us out of sellers’ market conditions.”

In September, the unadjusted residential benchmark price was $570,300, similar to last month and nearly nine per cent higher than last year.

Read the full report on the CREB website!

 


 

The following data is a comparison between September 2023 and September 2022 numbers, and is current as of October 2023. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view!

 

Download Printable Version – September 2023 CREB, City of Calgary Report Part 1
Download Printable Version – September 2023 CREB, City of Calgary Report Part 2
Download Printable Version – September 2023 CREB, Calgary Region Report

 

 

 

 


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INFOGRAPHICS: August 2023 CREB City And Region Market Reports

Due to historically low inventories and record-high sales in August, prices have increased

Thanks to a surge in the condominium market, August sales reached a record high with 2,729 sales. Despite the record levels reported over the past several months, year-to-date sales are still down by 15 per cent compared to last year.

While new listings did improve compared to levels seen this time last year, the sales-to-new-listings ratio remained elevated at 87 per cent, preventing any significant shift from the low inventory situation. Inventory levels in August dropped to 3,254 units, not only a record low for the month but well below the 6,000 units that are typically available. Low inventory combined with high sales this month ensured the months of supply remained low at just over one month.

Higher lending rates have caused many buyers to either hold off on purchase decisions or shift toward more affordable products on the market,” said CREB® Chief Economist Ann-Marie Lurie. “The challenge has been the availability of supply, especially in the detached market. Inventory levels hit record lows in August, and while new listings are higher than last year, conditions continue to favour the seller, driving further price gains.

Read the full report on the CREB website!

 


 

The following data is a comparison between August 2023 and August 2022 numbers, and is current as of September 2023. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view!

 

Download Printable Version – August 2023 CREB, City of Calgary Report Part 1
Download Printable Version – August 2023 CREB, City of Calgary Report Part 2
Download Printable Version – August 2023 CREB, Calgary Region Report

 

 

 

 


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INFOGRAPHICS: July 2023 CREB City And Region Market Reports
CREB City and Region Market Reports

Calgary home prices reach new heights: July sees seventh consecutive monthly gain

Rising rates had little impact on sales this month as the 2,647 sales represented a year-over-year gain of 18 per cent, reflecting the strongest July levels reported on record. The record-setting pace has been driven mainly by significant gains in the relatively affordable apartment condominium sector. Despite recent gains, year-to-date sales have declined by 19 per cent over last year.

In line with seasonal expectations, sales and new listings trended down compared to last month. However, this had minimal impact on inventory levels, which remained near the July record low set in 2006. With a sales-to-new-listings ratio of 82 per cent and a months of supply of 1.3 months, conditions continue to favour the seller.

“Continued migration to the province, along with our relative affordability, has supported the stronger demand for housing despite higher lending rates,” said CREB® Chief Economist Ann-Marie Lurie. “At the same time, we continue to struggle with supply in the resale, new home and rental markets resulting in further upward pressure on home prices.”

Read the full report on the CREB website!

 


 

The following data is a comparison between July 2023 and July 2022 numbers, and is current as of August 2023. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view!

 

Download Printable Version – July 2023 CREB, City of Calgary Report Part 1
Download Printable Version – July 2023 CREB, City of Calgary Report Part 2
Download Printable Version – July 2023 CREB, Calgary Region Report

 

 

 

 


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INFOGRAPHICS: June 2023 CREB City And Region Market Reports
Calgary skyline

Another record-high month for Calgary

The housing market in Calgary witnessed a surge in apartment condominium sales, setting a new total residential record with 3,146 sales achieved in June. Although year-to-date sales are currently 23 percent lower than last year, they remain significantly higher than pre-pandemic levels.

Notably, there has been a positive trend in new listings, providing relief and a monthly increase in inventory levels. However, despite these improvements, the inventory for June stood at 3,458 units, marking a decline of over 36 percent from last year and reaching the lowest levels for June in nearly two decades.

“The demand for housing remains robust, bolstered by a healthy labour market and increased migration levels, which helps offset the impact of higher lending rates,” said CREB® Chief Economist Ann-Marie Lurie. “Although we have seen some recent improvements in new listings, particularly for apartment condominiums, it is not enough to cause any substantial change from the low inventory situation in our city. While new home starts are on the rise, it will take time to observe their impact on supply.”

With a supply of just over one month, the current market conditions continue to favour sellers, placing upward pressure on home prices. In June, the total residential benchmark price reached $564,700, representing a monthly unadjusted gain of one percent and four percent higher than last year’s levels.

Read the full report on the CREB website!

 


 

The following data is a comparison between June 2023 and June 2022 numbers, and is current as of July 2023. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view!

 

Download Printable Version – June 2023 CREB, City of Calgary Report Part 1
Download Printable Version – June 2023 CREB, City of Calgary Report Part 2
Download Printable Version – June 2023 CREB, Calgary Region Report

 

 

 

 


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INFOGRAPHICS: May 2023 CREB City And Region Market Reports

May salesreach record high

Thanks to a significant gain in apartment condominium sales, May sales rose to 3,120, a new record high for the month. While the monthly gains have not outweighed earlier declines, this does reflect a shift from the declines reported at the start of the year. At the same time, we continue to see fewer new listings on the market than last year, causing inventory levels to fall. With a sales-to-new-listings ratio of 85 per cent and months of supply of one month, conditions continue to favour the seller placing further upward pressure on home prices.

“Calgary’s housing market continues to exceed expectations with the recent gain in sales activity this month,” said CREB® Chief Economist Ann-Marie Lurie. “The higher interest rate environment and recent rental rate gains have driven more consumers to seek apartment condominium units. In addition, the recent rise in new apartment listings has provided enough options to support the sales gain. Calgary continues to benefit from the relatively healthy job market and recent population growth keeping housing demand strong across all property types.” Persistently tight market conditions drove further price growth this month. In May, the unadjusted benchmark price reached $557,000, over one per cent higher than last month and nearly three per cent higher than last year’s monthly peak price of $543,000.

Read the full report on the CREB website!

 


 

The following data is a comparison between May 2023 and May 2022 numbers, and is current as of June 2023. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view!

 

Download Printable Version – May 2023 CREB, City of Calgary Report Part 1
Download Printable Version – May 2023 CREB, City of Calgary Report Part 2
Download Printable Version – May 2023 CREB, Calgary Region Report

 

 

 

 


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INFOGRAPHICS: April 2023 CREB City And Region Market Reports

Prices reach new record high

This month, persistent sellers’ market conditions placed further upward pressure on home prices. After four months of persistent gains, the total unadjusted benchmark price reached $550,800, nearly two per cent higher than last month and a new monthly record high for the city.

“While sales activity is performing as expected, the steeper pullback in new listings has ensured that supply levels remain low,” said CREB® Chief Economist Ann-Marie Lurie. “The limited supply choice is causing more buyers to place offers above the list price, contributing to the stronger than expected gains in home prices.”

In April, sales reached 2,690 units compared to the 3,133 new listings. With a sales- to-new-listings ratio of 86 per cent, inventories declined by 34 per cent compared to last year and are over 45 per cent below long-term averages for April.

While sales have eased by 21 per cent compared to last year, the steep decline in supply has caused the months of supply to ease to just over one month. This reflects tighter market conditions than earlier in the year and compared to conditions reported last April.

Read the full report on the CREB website!

 


 

The following data is a comparison between April 2023 and April 2022 numbers, and is current as of May 2023. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view!

 

Download Printable Version – April 2023 CREB, City of Calgary Report Part 1
Download Printable Version – April 2023 CREB, City of Calgary Report Part 2
Download Printable Version – April 2023 CREB, Calgary Region Report

 

 

 

 


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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.