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

January 2024 Housing Market Update
Market Knowledge

January 2024 Housing Market Update

January sees strong sales fueled by boost in new listings February 1, 2024 Sales Growth | January sales saw a significant increase ...

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Top-Tier Real Estate 2023: Year in Review
Market Knowledge

Top-Tier Real Estate 2023: Year in Review

Canada’s metropolitan luxury real estate market evolved over the course of 2023 as buyers emerged from the sidelines with newly altered ...

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CREB® 2024 Forecast Calgary and Region Yearly Outlook Report
Market Knowledge

CREB® 2024 Forecast Calgary and Region Yearly Outlook Report

The Calgary Real Estate Board (CREB®) is pleased to announce the release of its highly anticipated 2024 Forecast Calgary and Region ...

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DECEMBER 2023 HOUSING MARKET UPDATE
Market Knowledge

DECEMBER 2023 HOUSING MARKET UPDATE

Strong migration and low supply drive Calgary housing prices in 2023 Sales in 2023 did ease relative to last year's peak, but with ...

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Style & Design

Things To Do This Month FOR FREE in Calgary

Posted by Steven Hill on Dec 12, 2023

Times Are Tough, But Finding Low-Cost Fun Shouldn't Be Here Are Things To Do This Month FOR FREE Legacy’s ...

10 Halloween Safety Tips For Your Home

Posted by Steven Hill on Oct 03, 2023

Home safety for trick or treaters As a responsible homeowner, making your property safe for young trick-or-treaters ...

RSS

Discover the “Future Issue,” How Culture and Real Estate are Adapting After a Wave of Change
In the past year, we have witnessed a wave of change that has engulfed every aspect of everyday life, accelerating technology, business, culture, society – and real estate. In our latest issue of Insight: The Art of Living magazine, we invite you to explore some of these trends and changes in a futuristic era that has now arrived.

Learn how four major urban real estate markets weathered the pandemic storm, and how the popularity of multi-generational homes and family-friendly communities have risen in a year that has been about bringing everyone and everything into your immediate orbit.
 
 
From luxurious cabins to stylish urban townhomes, you’ll also discover how the long-promised future of prefabricated buildings is finally here. Enterprising architects and designers are finding ways to use prefab’s advantages in a variety of settings.

Explore some of Canada and the world’s most appealing travel and vacation home destinations, including Prince Edward County’s newest simple and stylish waterfront retreat, Wander the Resort. The property taps into the nostalgia of family vacations, camping with your family, or renting a cabin on the water. It is also the only Canadian property to make the 2021 Hot List at Condé Nast Traveler.
 
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August 2021 | Calgary Real Estate Market
City of Calgary, September 1, 2021 –

Citywide sales in August reached 2,151 units, 37 per cent higher than last year and 25 per cent higher than long-term trends. Sales have slowed from the record-setting pace seen earlier this year, but on a year-to-date basis, the eight-month total of 19,516 sales is higher than annual sales figures recorded over the past six years.

“Sales have far exceeded expectations throughout most of the pandemic, driven mostly by demand for detached homes. At the same time, supply could not keep pace and conditions shifted to favour the seller, something that has not happened in over six years,” said CREB® Chief Economist Ann-Marie Lurie.

“With more buyers than sellers, prices rose, providing opportunity for many of the move-up buyers in the market. Over the past several months we have seen some adjustments in supply relative to sales, helping move us toward more balanced conditions.”

The months of supply in August was nearly three months. This is an improvement relative to earlier in the year, but conditions generally remain far tighter than typical August levels. However, some improvements in supply compared to sales have been slowing price growth.

As of August, the total residential benchmark price was $459,600, slightly lower than last month, but over nine per cent higher than levels recorded last year. The price gains have ranged by product type, with the highest gains occurring in the detached sector of the market.


HOUSING MARKET FACTS

Detached
Supported by gains in every district, August sales totalled 1,300 units, which is 31 per cent higher than levels recorded last year and well above long-term averages. New listings have also improved relative to last year, but it has not been enough to cause any substantial change in inventory levels, which fell to 2,770 units this month. The months of supply remained just above two months in August. This is well below traditional levels for this time of year, but not as tight as levels recorded earlier in the year.

Following several months of strong price gains, August prices remained relatively stable compared with July figures, but were more than 10 per cent higher than levels recorded last year. Price gains continue to vary significantly based on location. Prices have risen across all districts relative to last year, but prices trended down In the City Centre, North West, West and South districts compared to last month.

Semi-Detached
Further year-over-year sales gains in August contributed to a record-high year-to-date sales total of 1,797 units, more than 70 per cent higher than last year. Sales have improved across all districts in the city, but the largest gains occurred in the West, North West and City Centre.

While inventory levels have trended down over the past few months, so too has sales activity. The months of supply rose above three months in August for the first time since October of last year. Any shift toward more balanced conditions will help ease some of the upward pressure on prices.

As of August, the semi-detached benchmark price was $430,000, nearly 10 per cent higher than last year, but only slightly higher than last month. Despite strong price gains across all districts, prices still have not recovered from previous highs in the South, North East and City Centre districts.

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Latest Blog Posts

January 2024 Housing Market Update

Posted by Steven Hill on Feb 01, 2024

January sees strong sales fueled by boost in new listings February 1, 2024 Sales Growth | January sales ...

Top-Tier Real Estate 2023: Year in Review

Posted by Steven Hill on Jan 31, 2024

Canada’s metropolitan luxury real estate market evolved over the course of 2023 as buyers emerged from ...

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.