In Calgary, the real estate market has experienced significant shifts over the past six years. Whether you’re a home buyer, seller, or investor, understanding these trends is crucial for making informed decisions. The data below highlights the average price of homes sold in Calgary from 2019 to 2024.

1. Steady Price Increase in 2024

The most notable trend is the consistent rise in home prices throughout 2024. Starting at $570,720 in January, the prices have steadily climbed, reaching $624,607 by June. This increase reflects a robust market, indicating strong demand and possibly limited supply. For buyers, this suggests acting sooner rather than later to avoid higher prices. Sellers can leverage this trend to maximize their returns, while investors might see this as an opportunity for profitable investments.

2. Impact of the Pandemic in 2020

The year 2020 saw a dip in home prices, especially noticeable in May when prices dropped to $439,257. This decline was primarily due to the economic uncertainties brought about by the COVID-19 pandemic. However, by the end of the year, the market began to recover, reflecting the resilience of Calgary’s real estate market. Buyers and sellers need to consider how such global events can temporarily affect the market and plan accordingly.

3. Post-Pandemic Recovery and Growth

From 2021 onwards, there has been a significant recovery and growth in home prices. For instance, the average price in April 2021 was $508,346, which increased to $532,733 in 2022. This recovery phase highlights the potential for growth in property value post-crisis. For investors, this is a positive indicator of market stability and future gains.

1. Seasonal Variations in Prices

The data shows seasonal variations, with prices typically higher in spring and summer months. For example, in June 2022, the average price was $518,049, compared to $490,700 in November. Buyers might find better deals during the winter months, while sellers could benefit from listing their properties in the peak seasons of spring and summer.

2. Yearly Comparisons and Trends

Comparing year-on-year data provides insights into market trends. For instance, prices in 2024 have surpassed those in previous years by a significant margin. Such comparisons help in understanding the long-term appreciation of property values in Calgary, aiding both buyers and investors in making long-term financial plans.

3. Market Stability in 2022 and 2023

Despite fluctuations, the market showed stability in 2022 and 2023, with prices hovering around $500,000 to $550,000. This stability is a good sign for buyers and investors looking for predictability in their investments. Sellers can also take advantage of stable market conditions to plan their sales strategy.

The Calgary real estate market has demonstrated resilience and growth, especially in 2024. Understanding these trends helps buyers, sellers, and investors make informed decisions. Whether you’re looking to buy, sell, or invest, staying informed about market dynamics is key to success in Calgary’s real estate landscape.

The housing market has taken an unexpected turn, and savvy buyers and sellers are sitting up and taking notice. Recent data reveals a dramatic shift that could reshape your real estate strategy.

Active listings have skyrocketed since the start of 2024, nearly doubling from January to June. This flood of new properties on the market marks a stark contrast to the inventory shortages we've seen in recent years. But what's driving this sudden surge?

Experts point to several factors:

1. Rising interest rates cooling buyer demand
2. Homeowners finally feeling confident enough to sell
3. New construction picking up pace

But here's where it gets interesting: despite the influx of listings, sales haven't kept pace. The gap between active listings and completed sales has widened significantly, especially in the last few months.

What does this mean for you?

For buyers:
You might finally have more options and potentially more bargaining power. The days of frenzied bidding wars could be waning.

For sellers:
While there's more competition, the right pricing strategy can still attract serious buyers in this evolving market.

The takeaway?
Whether you're looking to buy or sell, understanding these trends is crucial. The real estate landscape is shifting, and staying informed is your best tool for navigating this new terrain.

Keep an eye on these trends as we move into the latter half of 2024. The real estate rollercoaster shows no signs of slowing down, and the next turn could be just around the corner.

The CREB Daily Housing Summary provides up-to-date statistics on Calgary's real estate market, including the number of new listings, sales, and the average price of homes. It highlights key market trends and offers insights into the performance of different property types, such as detached homes, apartments, and townhouses. The report also compares current data with previous periods to show market changes over time.

For detailed statistics, visit CREB Daily Housing Summary https://www.creb.com/Housing_Statistics/Daily_Housing_Summary

Understanding Calgary's Real Estate Market with CREB's Daily Housing Summary

In today's fast-paced real estate market, staying informed is crucial for buyers, sellers, and investors. The Calgary Real Estate Board (CREB) provides an invaluable resource through its Daily Housing Summary, offering a snapshot of current market conditions.

Key Insights for Buyers

For buyers, the summary includes the latest data on new listings, sales figures, and average home prices. This information helps buyers understand the market dynamics and make informed decisions about when and where to buy. Knowing the number of new listings can help identify potential opportunities, while sales figures and price trends provide a sense of the market's competitiveness and overall health.

Valuable Data for Sellers

Sellers can leverage this data to set realistic prices for their properties. Understanding the average prices and sales volume in their neighborhood allows sellers to price their homes competitively, increasing the likelihood of a quick sale. Additionally, tracking market trends can help sellers decide the best time to list their property to maximize their return.

Strategic Insights for Investors

For investors, the CREB Daily Housing Summary is a goldmine of information. By analyzing trends in different property types—such as detached homes, apartments, and townhouses—investors can identify which segments are performing well and adjust their strategies accordingly. This data-driven approach helps investors make informed decisions about where to allocate their resources for the best returns.

Conclusion

Overall, the CREB Daily Housing Summary is an essential tool for anyone involved in Calgary's real estate market. By providing up-to-date and detailed market statistics, it empowers buyers, sellers, and investors to make informed and strategic decisions. For the latest market insights, visit [CREB Daily Housing Summary](https://www.creb.com/Housing_Statistics/Daily_Housing_Summary/).

Staying informed and adapting to market trends can make a significant difference in achieving success in real estate. Utilize the resources available through CREB to stay ahead in Calgary's dynamic housing market.

The latest CREB stats for May 2024 indicate notable trends across the entire Calgary residential market. Here are the key highlights:

1. Sales Growth:

• Sales slightly decreased to 3,092 units in May 2024 from 3,117 units in May 2023.

• Year-to-date (YTD) sales have increased, with 12,412 sales in 2024 compared to 11,162 in 2023.

2. New Listings and Inventory:

• New listings have grown significantly, with 4,333 new listings in May 2024 compared to 3,650 in May 2023.

• The total inventory has increased to 3,402 units in May 2024 from 3,214 in May 2023.

3. Days on Market:

• The average days on market have decreased, indicating a faster-paced market. In May 2024, it stands at 19 days, down from 24 days in May 2023.

4. Pricing Trends:

• The benchmark price for residential homes has risen to $605,300 in May 2024, compared to $552,700 in May 2023.

• The median price increased from $507,000 in May 2023 to $562,500 in May 2024.

• The average price saw a significant increase, reaching $612,772 in May 2024 from $552,412 in May 2023.

5. Price Range Sales:

• There has been notable growth in sales across higher price ranges. For example, sales in the $700,000 - $749,999 range increased from 163 units in May 2023 to 186 units in May 2024.

• Higher price brackets, such as $1,000,000 - $1,299,999, also saw substantial growth, with sales rising from 84 units in May 2023 to 132 units in May 2024.

6. Market Trends:

• The average price, median price, and benchmark price have all seen a year-over-year increase, indicating overall price appreciation in the market.

• The months of inventory have trended downward, suggesting a tightening market with increased demand relative to supply.

In summary, the Calgary residential market is experiencing robust growth with increased new listings, higher prices, and a quicker turnover rate, reflecting strong demand and a healthy market environment.

We offer free home evaluations for home sellers and ready to help home buyers anytime. 

The latest CREB stats for May 2024 indicate important trends in the Calgary townhome market. Here are the key highlights:

1. Sales Growth:

• Sales have increased to 540 units in May 2024, up from 496 units in May 2023.

• Year-to-date (YTD) sales have risen, from 1,822 in 2023 to 2,119 in 2024.

2. New Listings and Inventory:

• New listings have grown significantly, with 688 new listings in May 2024 compared to 562 in May 2023.

• The total inventory has increased to 424 units in May 2024 from 406 in May 2023.

3. Days on Market:

• The average days on market have decreased, indicating a faster-paced market. In May 2024, it stands at 18 days, down from 20 days in May 2023.

4. Pricing Trends:

• The benchmark price for townhomes has risen to $462,500 in May 2024, compared to $387,800 in May 2023.

• The median price increased from $386,750 in May 2023 to $457,500 in May 2024.

• The average price saw an increase, reaching $473,913 in May 2024 from $406,597 in May 2023.

5. Price Range Sales:

• There has been notable growth in sales across higher price ranges. For example, sales in the $450,000 - $499,999 range increased from 55 units in May 2023 to 122 units in May 2024.

• Higher price brackets, such as $500,000 - $549,999, also saw substantial growth, with sales rising from 43 units in May 2023 to 76 units in May 2024.

6. Market Trends:

• The average price, median price, and benchmark price have all seen a year-over-year increase, indicating overall price appreciation in the market.

• The months of inventory have trended downward, suggesting a tightening market with increased demand relative to supply.

In summary, the Calgary townhome market is experiencing robust growth with increased new listings, higher prices, and a quicker turnover rate, reflecting strong demand and a healthy market environment.

We offer free home evaluations for home sellers and ready to help home buyers anytime. 

The latest CREB stats for May 2024 indicate notable trends in the Calgary detached home market. Here are the key highlights:

1. Sales Growth:

• Sales slightly decreased to 1,385 units in May 2024 from 1,485 units in May 2023.

• Year-to-date (YTD) sales have increased, with 5,538 sales in 2024 compared to 5,283 in 2023.

2. New Listings and Inventory:

• New listings have risen significantly, with 2,036 new listings in May 2024 compared to 1,795 in May 2023.

• The total inventory has increased to 1,596 units in May 2024 from 1,484 in May 2023.

3. Days on Market:

• The average days on market has decreased, indicating a faster-paced market. In May 2024, it stands at 18 days, down from 22 days in May 2023.

4. Pricing Trends:

• The benchmark price for detached homes has risen to $761,800 in May 2024, compared to $674,000 in May 2023.

• The median price increased from $657,464 in May 2023 to $730,000 in May 2024.

• The average price saw a significant increase, reaching $822,873 in May 2024 from $733,230 in May 2023.

5. Price Range Sales:

• Sales have increased in higher price ranges. For example, sales in the $700,000 - $749,999 range increased from 143 units in May 2023 to 168 units in May 2024.

• Higher price brackets, such as $1,000,000 - $1,299,999, also saw substantial growth, with sales rising from 70 units in May 2023 to 106 units in May 2024.

6. Market Trends:

• The average price, median price, and benchmark price have all seen a year-over-year increase, indicating overall price appreciation in the market.

• The months of inventory have trended downward, suggesting a tightening market with increased demand relative to supply.

In summary, the Calgary detached home market is experiencing robust growth with increased new listings, higher prices, and a quicker turnover rate, reflecting strong demand and a healthy market environment.

We offer free home evaluations for home sellers and ready to help home buyers anytime. 

As we welcome the warmth of spring in Calgary, the real estate market is showing signs of renewed activity. In this article, we'll delve into the current state of the market, exploring trends, statistics, and expert insights to help you make informed decisions.

Market Overview

The Calgary real estate market has experienced a steady recovery since the pandemic. According to the Calgary Real Estate Board (CREB), April 2024 saw a 12% increase in sales compared to the same period last year. This growth is largely driven by the detached home sector, which accounts for over 60% of total sales.

Detached Homes

The detached home market is leading the charge, with a 13% year-over-year increase in sales. The benchmark price for detached homes rose 1.3% month-over-month to $749,000, and 13% year-over-year. This growth can be attributed to increased demand, particularly in the $500,000 to $1,000,000 price range.

Semi-Detached and Row Homes

Semi-detached and row home sales have also seen a significant uptick, with a 15% year-over-year increase. The benchmark price for semi-detached homes rose 1.5% month-over-month to $520,000, and 10% year-over-year. Row home prices saw a 1.2% month-over-month increase to $430,000, and a 9% year-over-year increase.

Condominiums

The condominium market is slowly gaining momentum, with a 5% year-over-year increase in sales. The benchmark price for condominiums remained stable, with a 0.5% month-over-month decrease to $270,000, but a 3% year-over-year increase.

Neighborhood Spotlight: Beltline and Downtown

The Beltline and Downtown areas are experiencing a surge in popularity, driven by the demand for inner-city living and proximity to amenities. Sales in these areas have increased by 20% year-over-year, with the benchmark price for detached homes rising 15% to $1,200,000, and condominium prices increasing 5% to $400,000.

Expert Insights

"Calgary's real estate market is showing promising signs of growth, particularly in the detached home sector," says Jerry Charlton, a seasoned real estate agent with years of experience in the Calgary market. "As the economy continues to recover, we expect to see increased demand and prices stabilizing. It's an excellent time for buyers to explore their options and for sellers to capitalize on the growing market."

What's Next?

As we move into the summer months, we anticipate the market to remain active, with continued growth in the detached home sector. Interest rates are expected to remain stable, making it an attractive time for buyers to enter the market. Sellers, on the other hand, should consider pricing their properties competitively to attract potential buyers.

Conclusion

The Calgary real estate market is poised for a strong summer season, driven by the detached home sector and growing demand in popular neighborhoods like Beltline and Downtown. Whether you're a buyer or seller, it's essential to stay informed and adapt to the changing market conditions. Contact Jerry Charlton and his team to navigate the market with confidence and expertise.

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Contact Jerry Charlton and his team to discuss your real estate needs and goals. Call (403) 123-4567 or email jerry@jerrycharlton.com to schedule a consultation today!