Calgary Real Estate

The Bonus Room

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

AUGUST 2023 | August Housing Market Update
Market Knowledge

AUGUST 2023 | August Housing Market Update

August sees record-high sales amidst historic low inventory, pushing prices higher City of Calgary | September 1, 2023 Thanks to a ...

READ POST
CREB Quarterly Stats - Q2 2023
Market Knowledge

CREB Quarterly Stats - Q2 2023

CREB's Q2 2023 Housing Market Report City of Calgary | August 16, 2023 – The Calgary Real Estate Board (CREB®) has released its Q2 ...

READ POST
July 2023- CREB Monthly Stats -
Market Knowledge

July 2023- CREB Monthly Stats -

July Housing Market Update Calgary home prices reach new heights: July sees seventh consecutive monthly gain City of Calgary | August ...

READ POST
Top-Tier Real Estate: 2023 Mid-Year State of Luxury Report
Market Knowledge

Top-Tier Real Estate: 2023 Mid-Year State of Luxury Report

Top-Tier Real Estate: 2023 Mid-Year State of Luxury Report* The performance of Canada’s major metropolitan luxury real estate markets ...

READ POST

Style & Design

Do good schools increase property values?

Posted by Steven Hill on Sep 01, 2023

Do good schools increase property values? In many real estate advertisements you see the claim “close ...

Finding your dream home in today's market

Posted by Steven Hill on Aug 14, 2023

Finding your dream home in today's market Home-hunting can be a deeply frustrating experience if you ...

RSS

July 2021 |  Calgary Real Estate Market
City of Calgary, August 3, 2021 –

July sales totaled 2,319 units, which is well above long-term averages and the best July on record. The pace of sales growth has eased over the past few months, but so too has the pace of new listings growth. This has helped prevent any further monthly gains in inventory levels, and while overall supply remains slightly higher than last July, it’s mostly due to gains in apartment and row product.

With 6,678 units in inventory in July, the months of supply rose to just under three months. These gains are leading to far more balance between sellers and buyers. However, there is a significant variation between product type, as the months of supply ranged from two months in the detached sector to nearly six months in the apartment condominium sector.

“Over the past several months, we have seen housing market conditions trend toward more balanced conditions,” said CREB® Chief Economist Ann-Marie Lurie. “This eased some of the upward pressure on prices, as prices are starting to stabilize following steep gains that occurred in the first half of the year.”

Benchmark prices in the city reached $460,100, slightly higher than last month and nearly 10 per cent higher than last July. Price growth has been the highest in the detached sector, which currently sits 11 per cent above last year’s price and has finally recovered from previous highs in 2014.


HOUSING MARKET FACTS

Detached
Both sales and new listings trended lower relative to last month, but remained higher than last year’s levels. Sales are still at record levels, but with only 1,822 new listings coming onto the market in July, the sales-to-new-listings ratio remained relatively high at 78 per cent.

Slower sales relative to the inventory levels also caused the months of supply to trend up. With just over two months of supply conditions remain relatively tight. However, this is an improvement relative to the past five months. Activity also varies by price range, with homes priced below $500,000 still facing tight market conditions with less than two months of supply.

Prices continued to trend up this month over last month. At a city-wide benchmark price of $539,900, prices are 11 per cent higher then last year’s levels. Prices have been on the rise in every district, but it is only the City Centre that is reporting prices below the 2014 high.

Semi-Detached
While sales activity did slow in some districts compared to last year, overall year-to-date levels remain at historic highs. While new listings are higher than last year’s levels, they trended down enough compared to last month to cause a slight monthly decline in inventory levels. With 209 sales and 577 units in inventory, the months of supply rose to nearly three months. This is still lower than levels recorded last year, but much higher than the extremely tight conditions recorded over the first half of the year.

Benchmark prices continue to rise over last month, but like other property types, at a slower pace. Nonetheless, at a benchmark price of $428,400 in July, levels are nearly ten per cent higher than last year and have recovered from previous highs. While price gains have occurred across most districts, on a year-to-date basis, they have not yet fully recovered from previous highs in the City Centre, North East, South and East districts.

Read

Latest Blog Posts

Do good schools increase property values?

Posted by Steven Hill on Sep 01, 2023

Do good schools increase property values? In many real estate advertisements you see the claim “close ...

AUGUST 2023 | August Housing Market Update

Posted by Steven Hill on Sep 01, 2023

August sees record-high sales amidst historic low inventory, pushing prices higher City of Calgary | ...

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.