Calgary Real Estate

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Confession Time About This Blog

Blogging has not been my strength and so this is officially a work in progress.  I have some big plans for the blogging page in the foreseeable future so I ask for your patience as I venture into this side.

Market Updates

FEBRUARY HOUSING MARKET UPDATE
Market Knowledge

FEBRUARY HOUSING MARKET UPDATE

Lowest February inventory since 2006 Consistent with typical seasonal behavior sales, new listings and inventory levels all trended ...

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January 2023: Calgary Housing Market Update
Market Knowledge

January 2023: Calgary Housing Market Update

Supply of lower-priced homes remains low for January The level of new listings in January fell to the lowest levels seen since the ...

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Forecast report: Calgary housing market expected to stabilize in 2023
Market Knowledge

Forecast report: Calgary housing market expected to stabilize in 2023

Calgary housing market expected to stabilize in 2023 The Calgary Real Estate Board (CREB®) has released its 2023 Forecast Calgary and ...

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What The Foreign Buyers Ban Means For You
Market Knowledge

What The Foreign Buyers Ban Means For You

On January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Foreign Buyers Ban”) came into ...

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Style & Design

Six essential tips to prepare your home for a spring sale

Posted by Steven Hill on Jan 10, 2023

Six essential tips to prepare your home for a spring sale As we recover from the Holidays, it's hard ...

The beauty of minimalist Bauhaus design

Posted by Steven Hill on Jul 29, 2022

The interior design style known as Bauhaus is guided by the belief that materials should not be hidden ...

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 April 2021 | Calgary Real Estate Market

Demand for homes remains high with record sales in April


City of Calgary, May 3, 2021 –

There were 3,209 sales in April, a new record high for the month, as Calgary's housing market continues to bounce back from the pandemic lows recorded in 2020.

"Despite entering the third wave of COVID-19, there is more optimism of economic recovery when the economy re-opens," said CREB® chief economist Ann-Marie Lurie.

"However, the recent surge in home sales could be a result of potential buyers wanting to enter the market before any further changes occur in prices, interest rates and lending policy. This could erode some of their purchasing power."

Recent price gains and tight market conditions have also encouraged many sellers to list their home this month. However, demand was strong enough to absorb the additional supply, ensuring the market continues to favour the seller.

With 4,670 new listings coming onto the market in April, inventory levels trended up relative to last month and last year. With the elevated sales, the months of supply remains below two months.

Persistently tight market conditions are causing significant upward pressure on prices. For the second consecutive month, the unadjusted benchmark price rose by more than two per cent compared with the previous month and more than nine per cent compared with last year's levels.

While sales improved across most price ranges, product priced above $600,000 represented 25 per cent of the sales that occurred this month. This is a significant increase from last year when they only represented 12 per cent of sales. The shift in distribution is causing both the average and median prices to record double-digit year-over-year price gains.





Detached
Detached homes hit a new record high for the month with 2,046 sales in April.

Gains in new listings helped support stronger sales, but they did little to ease the persistent sellers' market conditions. The months of supply remained well below two months in this segment, which is contributing to a steady climb in prices.

As of April, the benchmark price rose to $529,100. This is nearly 11 per cent higher than last year and more than $30,000 higher than levels recorded at the start of 2021. The recent gains were enough to push the benchmark price to a new high, reflecting full price recovery from 2014 levels.

Strong price gains occurred across most districts in the city thanks to persistently tight conditions. However, the pace of price adjustments did vary depending on location. The City Centre district has seen the slowest rebound and prices remain nearly seven per cent below previous highs.

Semi-Detached
Following several months of strong sales, year-to-date sales reached record highs in April with 888 sales.

This is the only property type to reach record highs based on year-to-date figures. Gains occurred across every district and price range. Like the other sectors, gains in new listings were not enough to move the market out of sellers' conditions, as the months of supply remained below two months.

The tight market conditions supported price growth across all districts, with the strongest year-over-year gains occurring in the North, North West, and South East districts. In April, year-over-year price gains in these districts were above 12 per cent, which was enough to support new monthly record-high prices...

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Latest Blog Posts

FEBRUARY HOUSING MARKET UPDATE

Posted by Steven Hill on Mar 01, 2023

Lowest February inventory since 2006 Consistent with typical seasonal behavior sales, new listings and ...

January 2023: Calgary Housing Market Update

Posted by Steven Hill on Feb 01, 2023

Supply of lower-priced homes remains low for January The level of new listings in January fell to the ...

Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.