Urban Upgrade & NewInfills

APRIL 2022 MARKET UPDATE

Posted on Apr 01, 2022 in Market Updates

Record high sales seen again in March – 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 h...

MARCH 2022 MARKET UPDATE

Posted on Mar 01, 2022 in Market Updates

Sales continue to surge as listings rise – 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 somew...

CREB 2022 ECONOMIC FORECAST

Posted on Feb 04, 2022 in Market Updates

Despite risks surrounding the pandemic, the outlook for our economy is far more promising than it was a few years ago, with renewed optimism coming from the energy sector and growth prospects in the tech industry. Improving economic activity, job growth and the slow return of migration to the city are expected to continue supporting relatively stro...

FEBRUARY 2022 MARKET UPDATE

Posted on Feb 01, 2022 in Market Updates

Sellers' market conditions continue to impact prices – 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 pric...

CREB 2022 HOUSING MARKET FORECAST

Posted on Jan 25, 2022 in Market Updates

Calgary housing market expected to remain strong in 2022 after record-breaking 2021 – Housing market activity in 2022 is expected to moderate relative to record levels of activity in 2021, while remaining stronger than historical levels.

“Despite challenges with COVID-19, we are starting to see a turnaround in our job and migration numbers, and whil...

JANUARY 2022 MARKET UPDATE

Posted on Jan 04, 2022 in Market Updates

2021 record year for home sales – 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...

DECEMBER 2021 MARKET UPDATE

Posted on Dec 01, 2021 in Market Updates

Persistent sellers’ market conditions drive up prices - 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...

NOVEMBER 2021 MARKET UPDATE

Posted on Nov 01, 2021 in Market Updates

Market continues to favour the seller in October – 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-ye...

CALGARY Q3 2021 MARKET UPDATE

Posted on Oct 19, 2021 in Market Updates

CREB, October 2021 - The persistent challenges caused by the pandemic continue to weigh on economic activity. However, the housing market remains resilient. The pace of growth and level of sales have eased from the record highs seen in the second quarter, but with 6,628 sales, this was the best third quarter since 2014.

Much of the demand growth con...

OCTOBER 2021 MARKET UPDATE

Posted on Oct 01, 2021 in Market Updates

Sales Remain Strong in September – 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 lik...

SEPTEMBER 2021 MARKET UPDATE

Posted on Sep 01, 2021 in Market Updates

Market Continues Shift Toward More Balanced Conditions After Torrid Start to the Year - 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 sale...

CALGARY Q2 2021 MARKET UPDATE

Posted on Aug 05, 2021 in Market Updates

CREB, July 2021 - Since March, the Calgary housing market has been hitting record-high sales each month and supply has not kept pace. This has caused extremely tight conditions, especially in the detached sector, where benchmark home prices went from $492,000 in January to $537,200 in June. These steady price gains have encouraged more sellers to l...

AUGUST 2021 MARKET UPDATE

Posted on Aug 01, 2021 in Market Updates

Price Growth Slows As Supply To Demand Balance Improves - July sales totalled 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 o...

JULY 2021 MARKET UPDATE

Posted on Jul 02, 2021 in Market Updates

Supply Trends Up But Market Still Favours The Seller - 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 di...

JUNE 2021 MARKET UPDATE

Posted on Jun 01, 2021 in Market Updates

Inventory Rises, But Sellers' Market Conditions Persist - 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...

MAY 2021 MARKET UPDATE

Posted on May 03, 2021 in Market Updates

Demand For Homes Remains High With Record Sales In April! - 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® c...

CALGARY Q1 2021 MARKET UPDATE

Posted on Apr 20, 2021 in Market Updates

CREB, April 2021 - The economic challenges associated with COVID-19 brought about a dramatic rate cut from the Bank of Canada and an even more significant drop in the discount rates for mortgages. The low-interest-rate environment, combined with pent-up demand and increased savings among those who remained employed throughout the pandemic, is suppo...

APRIL 2021 MARKET UPDATE

Posted on Apr 01, 2021 in Market Updates

Calgary Housing Market Sees Best March Sales in Over a Decade! - 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 s...

MARCH 2021 MARKET UPDATE

Posted on Mar 05, 2021 in Market Updates

With gains in every price range, residential sales activity in February totalled 1,836. This reflects the best February since 2014. “Despite continued COVID-19 restrictions, housing activity continues to improve. Much of the strong sales activity is expected to be driven by exceptionally low mortgage rates,” said CREB® chief economist Ann-Marie Lur...

FEBRUARY 2021 MARKET UPDATE

Posted on Feb 03, 2021 in Market Updates

January sales were the highest they have been for the month since 2014, as housing market momentum from the end of 2020 carried over into the start of 2021. Sales activity improved across all product types and across all price ranges. “Discount lending rates are exceptionally low, which is likely attracting all types of buyers back into the market...

JANUARY 2021 MARKET UPDATE

Posted on Jan 04, 2021 in Market Updates

With December sales of 1,199, this is the highest December total since 2007. "Housing demand over the second-half of 2020 was far stronger than anticipated and nearly offset the initial impact caused by the shutdowns in spring. Even with the further restrictions imposed in December, it did not have the same negative impact on housing activity like...

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