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

CREB Quarterly Stats - Q3 2023
Market Knowledge

CREB Quarterly Stats - Q3 2023

CREB® unveils Q3 housing market report with special 2024 forecast preview City of Calgary, Nov. 17, 2023 — The Calgary Real Estate ...

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OCTOBER 2023 HOUSING MARKET UPDATE
Market Knowledge

OCTOBER 2023 HOUSING MARKET UPDATE

November 1, 2023 Price gains continue in Calgary's real estate market as inventory remains low October sales activity slowed over the ...

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SEPTEMBER 2023 HOUSING MARKET UPDATE
Market Knowledge

SEPTEMBER 2023 HOUSING MARKET UPDATE

Calgary home sales at record highs in September, yet supply remains a challenge Sales reached another record high in September with ...

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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 ...

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Style & Design

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 ...

Six Fall Tips To Prep Your Garden For Spring

Posted by Steven Hill on Oct 01, 2023

Pruning for winter without cutting corners As the shorter days signal the coming of winter, there is ...

RSS

September 2022 | Calgary Housing Market Update

Demand shifting to more affordable options

City of Calgary, October 3, 2022 –

Strong sales for condominium apartment and row properties were not enough to offset declines reported for other property types. This caused city sales to ease by nearly 12 per cent compared to last year.

However, with 1,901 sales in September, activity is still far stronger than levels achieved prior to the pandemic and is well above long-term trends for September. Despite recent pullbacks in sales, and thanks to strong levels earlier in the year, year-to-date sales remain 15 per cent higher than last year’s levels.

“While demand is easing, especially for higher priced detached and semi-detached product, purchasers are still active in the affordable segments of the market, cushioning much of the impact on sales,” said CREB® Chief Economist Ann-Marie Lurie. “At the same time, we are seeing new listings ease, preventing the market from becoming oversupplied and supporting more balanced conditions.”

In September, new listings declined by ten per cent. With a sales-to-new-listings ratio of 72 per cent, it was enough to prevent any gain in inventory levels, which declined over last month and were nearly 21 per cent lower than last year’s levels. The adjustments in both sales and supply levels have caused the months of supply to remain relatively low at less than three months.

The shift to more balanced conditions is causing some adjustments to home prices. While prices have slid from the highs seen in May, as of September, benchmark prices remain 11 per cent higher than last year and six per cent higher than levels reported at the beginning of the year.

 

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

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Latest Blog Posts

CREB Quarterly Stats - Q3 2023

Posted by Steven Hill on Nov 17, 2023

CREB® unveils Q3 housing market report with special 2024 forecast preview City of Calgary, Nov. 17, 2023 ...

OCTOBER 2023 HOUSING MARKET UPDATE

Posted by Steven Hill on Nov 01, 2023

November 1, 2023 Price gains continue in Calgary's real estate market as inventory remains low October ...

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.