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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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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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 ...
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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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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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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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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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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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