NOVEMBER 2024 HOUSING MARKET UPDATE
December 2, 2024
Supply on the rise, but not across all price ranges
As we transition into winter, Calgary's housing market is following typical seasonal trends, with activity slowing compared to the fall. However, year-over-year demand remains relatively strong. In November, increased sales in detached, semi-detached, and row homes offset a decline in apartment condominium sales. The 1,797 sales for November mirrored last year?s levels and remained 20 per ...
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OCTOBER 2024 HOUSING MARKET UPDATE
November 1, 2024
Supply levels improving for higher-priced homes
Sales gains for homes priced above $600,000 offset declines at the lower end of the market, resulting in October sales that were similar to last year. The 2,174 sales in October increased over September and stood 24 per cent above long-term trends for the month.
?Housing demand has stayed relatively strong in our market as we move into the fourth quarter, with October sales rising over last ...
posted in General
at Fri, 01 Nov 2024 19:37:08 +0000
SEPTEMBER 2024 HOUSING MARKET UPDATE
October 1, 2024
New listing growth driven by higher-priced homes
Rising sales in the upper price ranges were not enough to offset the pullback occurring in the lower price ranges, as sales in September were 2,003, 17 per cent below last year's record high. Despite the decline, sales this month were still over 16 per cent higher than levels traditionally achieved in September.?We are starting to see a rise in new listings in our market. However, most of the ...
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posted in General
at Wed, 02 Oct 2024 21:47:28 +0000
[August 2024 Housing Statistics]August 2024 Housing Statistics
Sept. 03, 2024 | CREB
Calgary housing market sees shifts
Housing activity continues to move away from the extreme sellers? market conditions experienced throughout the spring. Easing sales, combined with gains in supply, pushed the months of supply above two months in August, a level not seen since the end of 2022.
As expected, rising new home construction and gains in new listings are starting to support a better-supplied housing ...
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posted in General
at Fri, 06 Sep 2024 20:14:43 +0000
June 2024 HOUSING MARKET UPDATE
July 2, 2024
June sales decline amid supply challenges and rising prices
Sales in June reached 2,738, marking a 13 per cent decline from last year?s record high. Although sales improved for homes priced above $700,000, it was not enough to offset the declines reported in the lower price ranges. Despite the easing in June sales, they remain over 17 per cent higher than long-term trends.?The pullback in sales reflects supply challenges in the lower price ranges, ...
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posted in General
at Wed, 03 Jul 2024 23:01:55 +0000
MAY 2024 HOUSING MARKET UPDATE
June 3, 2024
Calgary home sales remain robust despite supply shortages in lower price ranges
In a market that continues to show resilience, May saw a total of 3,092 resale home sales. While this figure is nearly one per cent below last year's record high, it is 34 per cent higher than long-term trends for the month. The pullback in sales was primarily driven by declines in lower-priced detached and semi-detached homes, where there was limited supply choice ...
posted in General
at Tue, 04 Jun 2024 21:41:49 +0000
APRIL 2024 HOUSING MARKET UPDATE
May 1, 2024
Price growth persists in Calgary as seller?s market prevails
Sales in April rose by seven per cent compared to last year, to 2,881 units. While the pace of growth did ease compared to earlier in the year, sales remain 37 per cent higher than long-term trends for the month. Much of the growth in sales has occurred for relatively more affordable, higher-density products. At the same time, there were 3,491 new listings in April, an 11 per cent gain over ...
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posted in General
at Thu, 02 May 2024 17:01:35 +0000
DECEMBER 2023 HOUSING MARKET UPDATEJanuary 2, 2024
Strong migration and low supply drive Calgary housing prices in 2023
Sales in 2023 did ease relative to last year's peak, but with 27,416 sales, levels were still far higher than long-term trends and activity reported before the pandemic. While sales stayed relatively strong, there was a notable shift in activity toward more affordable apartment condominiums style homes.?Higher lending rates dampened housing demand this year, but thanks to ...
posted in General
at Tue, 02 Jan 2024 21:07:10 +0000
NOVEMBER 2023 HOUSING MARKET UPDATEDecember 1, 2023
Increased listings, strong sales, and price growth
New listings in November reached 2,227 units, nearly 40 per cent higher than the exceptionally low levels reported last year at this time. Gains in new listings occurred across most price ranges, but the most significant gains occurred from homes priced over $600,000.Despite the year-over-year jump in new listings, inventory levels remained low thanks to relatively strong sales. With 1,787 ...
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posted in General
at Tue, 05 Dec 2023 00:13:45 +0000
MAY 2023 HOUSING MARKET UPDATEJUNE 1, 2023
May sales reach a record high
Thanks to a significant gain in apartment condominium sales, May sales rose to 3,120, a new record high for the month. While the monthly gains have not outweighed earlier declines, this does reflect a shift from the declines reported at the start of the year.At the same time, we continue to see fewer new listings on the market than last year, causing inventory levels to fall. With a sales-to-new-listings ratio of 85 per ...
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APRIL 2023 HOUSING MARKET UPDATEMAY 1, 2023
Prices reach new record high
Persistent sellers? market conditions placed further upward pressure on home prices in April. After four months of persistent gains, the total unadjusted benchmark price reached $550,800, nearly two per cent higher than last month and a new monthly record high for the city. ?While sales activity is performing as expected, the steeper pullback in new listings has ensured that supply levels remain low,? said CREB® Chief ...
posted in General
at Mon, 01 May 2023 21:31:06 +0000
CREB®'s Q1 2023 Housing Market Report
Sales activity has behaved as expected through the start of 2023 and slowed by 43 per cent over last year?s all-time record-high performance in the first quarter. The steeper decline in the first quarter was expected, given the surge in sales last year, as purchasers were eager to enter the market ahead of expected rate gains.?While no further rate gains have occurred so far this year, the higher lending rates and limited supply options are contributing to ...
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posted in General
at Thu, 27 Apr 2023 19:10:54 +0000
MARCH HOUSING MARKET UPDATEApril 3, 2023
Prices rise as conditions favour the seller
Sales and new listings have improved over the levels reported at the beginning of the year. As a result, the spread between sales and new listings supported some expected monthly inventory level gains. However, the 3,233 available units reflected the lowest March inventory levels since 2006 and left the months of supply just above one month, firmly in the seller?s territory. While conditions are not as tight as ...
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posted in General
at Mon, 03 Apr 2023 20:45:14 +0000
FEBRUARY HOUSING MARKET UPDATEMarch 1, 2023
Lowest February inventory since 2006
Consistent with typical seasonal behavior sales, new listings and inventory levels all trended up compared to last month. However, with 1,740 sales and 2,389 new listings, inventory levels improved only slightly over the last month and remained amongst the lowest February levels seen since 2006.?While higher lending rates are impacting sales activity as expected, we are seeing a stronger pullback in new listings, ...
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posted in General
at Thu, 02 Mar 2023 00:11:52 +0000
JANUARY HOUSING MARKET UPDATEFeb. 1, 2023
Supply of lower-priced homes remains low for January
The level of new listings in January fell to the lowest levels seen since the late 90s. While new listings fell in nearly every price range, the pace of decline was higher for lower-priced properties.At the same time, sales activity did slow compared to the high levels reported last year but remained consistent with long-term trends. However, there has been a shift in the composition of sales as ...
posted in General
at Wed, 01 Feb 2023 23:35:13 +0000
DECEMBER HOUSING MARKET UPDATEJan. 3, 2022
2022 saw record-high sales and double-digit price growth
December sales eased, however, slowing sales over the second half of 2022 were not enough to offset earlier gains as sales reached a record high of 29,672 units in 2022.Over the past several months, the pullback in sales was also met with a significant pullback in new listings, causing further declines in inventory levels. As of December, there were 2,214 units available in Inventory, making it ...
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posted in General
at Thu, 05 Jan 2023 17:19:43 +0000
NOVEMBER HOUSING MARKET UPDATEDec. 1, 2022
2022 on track to be a record year for sales
Residential sales in the city slowed to 1,648 units, a year-over-year decline of 22 per cent, but 12 per cent above the 10-year average. The pullback in sales over the past six months was not enough to erase gains from earlier in the year as year-to-date sales remain nearly 10 per cent above last year?s record high. The year-to-date sales growth has been driven by a surge in both apartment condominium and row ...
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posted in General
at Tue, 06 Dec 2022 00:19:34 +0000
Nov. 01, 2022 | CREB
Sales remain stronger than pre-covid levels
City of Calgary, Nov. 1, 2022 ? October sales eased compared to last year?s levels, mostly due to slower activity in the detached sector.
However, with 1,857 sales this month, levels are still stronger than long-term trends and activity reported prior to the pandemic. Year-to-date sales have reached 26,823 and with only two months to go, 2022 will likely post a record year in terms of sales.
?Calgary hasn?t seen the same degree of ...
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posted in General
at Wed, 02 Nov 2022 19:07:26 +0000
SEPTEMBER HOUSING MARKET UPDATEOct. 3, 2022
Demand shifting to more affordable options
Strong sales for condominium apartment and row properties was 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 ...
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posted in General
at Tue, 04 Oct 2022 21:33:04 +0000
Supply levels ease with fewer new listings in August
City of Calgary, September 1, 2022 ? August sales activity was comparable to the strong levels recorded last year and well above long-term trends for the month.While sales have remained relatively strong, there continues to be a shift towards more affordable options as the year-over-year pullback in detached sales was nearly matched by gains for multi-family product types.?While higher lending rates have slowed activity in the detached ...
posted in General
at Mon, 05 Sep 2022 17:38:11 +0000
FOR IMMEDIATE RELEASE
Detached home sales decline as apartment condominium sales rise
City of Calgary, Aug. 2, 2022 ? Significant slowdowns in the detached and semi-detached market were nearly offset by sales growth in the apartment and row sectors. This left July sales three per cent lower than levels recorded last year. While this is the second month where sales activity has slowed, total residential sales this month are still amongst the strongest levels recorded in our ...
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FOR IMMEDIATE RELEASE
Market continues to favour the seller despite slowing sales
City of Calgary, June 1, 2022 ? For the second month in a row, sales activity trended down after all-time record high sales in March. While activity in the market slowed down in May with 3,071 sales, levels are still slightly higher than last year?s record high and are far stronger than typical levels of activity recorded in May.?It?s not a surprise to see sales ease from the exceptionally strong levels seen ...
FOR IMMEDIATE RELEASE
Sellers' market conditions continue in April
City of Calgary, May 2, 2022 ? Following an all-time record high month of sales in March, activity slowed down in April. However, with 3,401 sales, it was still a gain of six per cent over last year and a record high for the month of April. ?Despite some of the monthly pullback, it is important to note that sales remain exceptionally strong and are likely being limited due to supply choice in the market,? said CREB® Chief ...
Record high sales seen again in March
City of Calgary, April 1, 2022 ? For the second month in a row, sales activity not only reached a monthly high but also hit new record highs for any given month. Gains occurred across every property type as they all hit new record highs.An increase in new listings this month helped support the growth in sales activity. However, inventories have remained relatively low, ensuring the market continues to favour the seller. ?While supply levels have improved ...
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FOR IMMEDIATE RELEASE
Sales continue to surge as listings rise
City of Calgary, March 1, 2022 ? Thanks to a surge in new listings, sales activity reached a record high for the month of February with 3,305 sales. The rise in new listings caused adjusted inventories to rise above last months levels. However, with only one month of supply, the market continues to favour the seller. ?Sales have been somewhat restricted by the lack of supply choice in the market. While sellers did respond with a ...
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FOR IMMEDIATE RELEASE
Sellers? market conditions continue to impact prices
City of Calgary, Feb. 1, 2022 ? Thanks to persistently strong sales, inventory levels in the city eased to 2,620 units, the lowest levels seen since 2006. This caused the months of supply to remain exceptionally low for this time of year at 1.3 months. The tight market conditions contributed to further upward pressure on prices. The unadjusted benchmark price in January reached $472,300, a monthly gain of nearly two per ...
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FOR IMMEDIATE RELEASE
2021 record year for home sales
City of Calgary, Jan. 4, 2022 ? Thanks to exceptionally high sales in December, 2021 was a record year for home sales. Calgary sales reached 27,686 units this year, nearly 72 per cent higher than last year and over 44 per cent higher than the 10-year average.?Concerns over inflation and rising lending rates likely created more urgency with buyers over the past few months. However, as is the case in many other cities, the supply has not kept ...
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Persistent sellers? market conditions drive up prices*
City of Calgary, Dec. 1, 2021 - Driven by growth in demand for all property types, there were 2,110 sales in November, just shy of the record for the month set in 2005.?Lending rates are expected to increase next year, which has created a sense of urgency among purchasers who want to get into the housing market before rates rise,? said CREB® Chief Economist Ann-Marie Lurie.?At the same time, supply levels have struggled to keep pace, ...
Market continues to favour the seller in October
City of Calgary, Nov. 1, 2021 - There were 2,186 sales in October, a record high for the month and over 35 per cent higher than longer-term averages. Year-to-date sales are on pace to hit new record highs and are currently 61 per cent higher than average activity recorded over the past five years and 42 per cent higher than 10-year averages.?Moving into the fourth quarter, the pace of housing demand continues to exceed expectations in the city,? ...
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Sales remain strong in September
City of Calgary, Oct. 1, 2021 ? Residential sales totalled 2,162 in September, nearing the record high for the month recorded in 2005. Further gains in new listings likely supported some of the sales growth that occurred this month.
?While sales activity in the fall tends to be slower than in the spring months, the continued strong sales are likely being driven by consumers who were unable to transact earlier in the year when supply levels had not yet adjusted ...
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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 ...
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Supply trends up but market still favours the seller
City of Calgary, July 2, 2021 ?
Calgary?s housing market is showing few signs of letting up, as sales reached 2,915 units in June ? a record high for the month.
?It is taking time for supply to catch up with the demand in the market,? said CREB® chief economist Ann-Marie Lurie.
?Through the early spring market, many buyers did not have a lot of choice, but the recent improvements in supply are providing more options for those purchasers and ...
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Inventory rises, but sellers' market conditions persist
City of Calgary, June 1, 2021 ?
With 2,989 sales, housing market activity hit a new May record.
Despite strong levels of sales, they did trend down relative to last month. Additionally, there were 4,562 new listings, causing seasonally adjusted inventory levels to increase over last month.
"The recent gains in prices have encouraged more homeowners to list their homes and take advantage of the current market situation," said CREB® chief ...
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posted in General
at Tue, 01 Jun 2021 21:31:26 +0000
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 ...
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Calgary housing market sees best March sales in over a decade
Persistent sellers? market conditions contribute to price gains
City of Calgary, April 1, 2021 ?
The initial impact of COVID-19 on the housing market began last March.
One year later, it is not a surprise that March sales in 2021 were higher than in 2020. However, at 2,903 sales, this was the highest March total since 2007.
?Low lending rates and improved savings have supported sales activity,? said CREB® chief economist Ann-Marie ...
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Here is a quick referesher of what we need to know about mortgages thanks to my friends at RBC:
Fixed Rate Mortgage
The interest rate for a fixed rate mortgage is locked in for the full term of the mortgage. Payments are set in advance for the term, providing you with the security of knowing precisely how much your payments will be throughout the entire term. Fixed rate mortgages can be open (may be paid off at any time without breakage costs) or closed (breakage costs apply if paid off prior ...
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posted in General
at Mon, 29 Mar 2021 20:27:50 +0000
Today marks the first day of the new website. The new site offers a wealth of fresh industry information that's constantly being updated. Have a great time checking it out!
posted in General
at Fri, 27 Mar 2009 21:37:30 +0000
