The Calgary real estate market continues to provide opportunities for both buyers and sellers. In this October 2024 update, we take a deep dive into the latest statistics for active listings and recent sales across various property types and price ranges. Whether you're a homebuyer or an investor, these insights will help you make informed decisions in today’s market.
Current Active Listings in Calgary – October 16, 2024
As of today, there are a total of 4,430 active listings in Calgary, broken down into four primary categories:
Houses: 1,964 active listings
Townhouses: 660 active listings
Condos/Apartments: 1,481 active listings
Half Duplexes: 325 active listings
Key Observations:
The $300K-$400K price range has the highest number of active condo/apartment listings with 612 properties.
Single-family homes in the $500K-$600K range have 221 active listings, making it a competitive range for buyers.
If you’re in the market for a half duplex, there are 54 listings in the $500K-$600K range, offering a solid selection.
Calgary Home Sales in the Last 30 Days
In the last 30 days, a total of 2,090 properties were sold in Calgary, including houses, townhouses, condos, and half duplexes.
Houses: 1,017 sold
Townhouses: 372 sold
Condos/Apartments: 510 sold
Half Duplexes: 191 sold
Noteworthy Trends:
Houses in the $600K-$700K price range saw the most activity with 276 homes sold.
Townhouses in the $400K-$500K price range were also in demand, with 141 sales.
Condos/Apartments in the $300K-$400K range are still popular among buyers, with 206 units sold.
Months of Supply: What It Means for Buyers and Sellers
The months of supply metric is crucial for understanding the current state of the market. It represents how long it would take to sell all the active listings at the current sales pace, providing insights into whether it's a buyer's market or a seller's market.
Houses: 1.93 months of supply – A balanced but slightly seller-favorable market.
Townhouses: 1.77 months of supply – Strong competition for buyers.
Condos/Apartments: 2.90 months of supply – A clear buyer’s market with a wide selection of listings.
Half Duplexes: 1.70 months of supply – A stable market with healthy activity.
What This Means for You
With overall months of supply at 2.12, Calgary is still in a seller’s market, particularly for single-family homes and townhouses. However, if you're a condo buyer, now might be the perfect time to explore the options, as there are plenty of active listings and more leverage in negotiations.
For Sellers:
If you're considering selling your home, now is a great time to enter the market, especially if you own a house or townhouse. With inventory remaining tight in certain price ranges, you can position your property to attract motivated buyers.
For Buyers:
For buyers, particularly those looking for condos or apartments, the market is offering more choices and less competition. If you’re aiming to purchase a home or investment property, consider acting sooner rather than later before the inventory shifts again.
Acting on Calgary’s Real Estate Trends
The Calgary real estate market is always evolving, and understanding current trends can help you make the best decisions, whether you're buying or selling. With 2.12 months of supply, opportunities still exist, and the market dynamics vary across property types.
If you’re ready to buy or sell in Calgary or just want more personalized advice, feel free to contact me. Let’s make your real estate journey a success!
Contact Jerry Charlton Today!
📞 Call: 403-831-0842
💻 Visit: https://JerryCharlton.com
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