Market Stats - Calgary Homes For Sale
INFOGRAPHICS: March 2024 CREB City And Region Market Reports
March reflects strong seller’s market and price increases
March sales rose to 2,664 units, a 10 per cent year-over-year gain and much higher than long-term trends. While new listings did pick up over last month, the 3,172 units were still below what we typically see in March and not enough relative to sales to drive any change in the supply situation. In March, the sales-to-new listings ratio rose to 84 per cent, and the months of supply fell below one month.
“We have not seen March conditions this tight since 2006, which is also the last time we reported high levels of interprovincial migration and a months-of-supply below one month,” said Ann-Marie Lurie, Chief Economist at CREB®. “Moreover, we are entering the third consecutive year of a market favouring the seller as the two-year spike in migration has driven up demand and contributed to the drop in re-sale and rental supply. Given supply adjustments take time, it is not a surprise that we continue to see upward pressure on home prices.”
Read the full report on the CREB website!
The following data is a comparison between March 2024 and March 2023 numbers, and is current as of April 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 – March 2024 CREB, City of Calgary Report Part 1
Download Printable Version – March 2024 CREB, City of Calgary Report Part 2
Download Printable Version – March 2024 CREB, Calgary Region Report
INFOGRAPHICS: February 2024 CREB City And Region Market Reports
Low inventory and high demand drive price gains in February
New listings continued to rise in February, reaching 2,711 units. However, the rise in new listings supported further growth in sales, which increased by nearly 23 per cent compared to last year for a total of 2,135 units. The shift in sales and new listings kept the sales to new listings ratio exceptionally high at 79 per cent ensuring inventories remained near historic lows.
Low supply and higher sales caused the months of supply to fall to just over one month, nearly as tight as levels seen during the spring of last year. “Purchasers are acting quickly when new supply comes onto the market, preventing inventory growth in the market,” said Ann-Marie Lurie, Chief Economist at CREB®.
“It is this strong demand and low supply that continues to drive price gains in Calgary. The biggest supply challenge is for homes priced under $500,000, which saw inventories fall by 31 per cent compared to last February. At the same time, we are starting to see supply levels rise for higher priced homes supporting more balanced conditions in the upper end.”
Read the full report on the CREB website!
The following data is a comparison between February 2024 and February 2023 numbers, and is current as of March 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 – February 2024 CREB, City of Calgary Report Part 1
Download Printable Version – February 2024 CREB, City of Calgary Report Part 2
Download Printable Version – February 2024 CREB, Calgary Region Report
INFOGRAPHICS: January 2024 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
