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Calgary Market Report Infographics
INFOGRAPHICS: April 2023 CREB City And Region Market Reports
Prices reach new record high
This month, persistent sellers’ market conditions placed further upward pressure on home prices. 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 Economist Ann-Marie Lurie. “The limited supply choice is causing more buyers to place offers above the list price, contributing to the stronger than expected gains in home prices.”
In April, sales reached 2,690 units compared to the 3,133 new listings. With a sales- to-new-listings ratio of 86 per cent, inventories declined by 34 per cent compared to last year and are over 45 per cent below long-term averages for April.
While sales have eased by 21 per cent compared to last year, the steep decline in supply has caused the months of supply to ease to just over one month. This reflects tighter market conditions than earlier in the year and compared to conditions reported last April.
Read the full report on the CREB website!
The following data is a comparison between April 2023 and April 2022 numbers, and is current as of May 2023. For last month’s numbers, check out our previous infographic.
Or follow this link for all our CREB Infographics!
Click on the images for a larger view!
Download Printable Version – April 2023 CREB, City of Calgary Report Part 1
Download Printable Version – April 2023 CREB, City of Calgary Report Part 2
Download Printable Version – April 2023 CREB, Calgary Region Report
INFOGRAPHICS: March 2023 CREB City And Region Market Reports
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 last March, low inventory levels leave purchasers with limited choice, once again driving up home prices.
Total unadjusted residential home prices reached $541,800 in March, a two per cent gain over last month and nearly one per cent higher than prices reported last year. While prices remain below the May 2022 high of $546,000, the pace of price growth over the first quarter has been stronger than expected due to the persistent seller’s market conditions. “As expected, sales have eased from record levels while remaining stronger than they were before the pandemic thanks to recent gains in migration supporting demand,” said CREB® Chief Economist Ann-Marie Lurie.
“The challenge has been centered around supply. As a result, existing homeowners may be reluctant to list as they struggle to find an acceptable housing alternative in this market. At the same time, higher lending rates can also reduce the incentives for existing homeowners to list their home.”
Read the full report on the CREB website!
The following data is a comparison between March 2023 and March 2022 numbers, and is current as of April 2023. For last month’s numbers, check out our previous infographic.
Or follow this link for all our CREB Infographics!
Click on the images for a larger view!
Download Printable Version – March 2023 CREB, City of Calgary Report Part 1
Download Printable Version – March 2023 CREB, City of Calgary Report Part 2
Download Printable Version – March 2023 CREB, Calgary Region Report
INFOGRAPHICS: February 2023 CREB City And Region Market Reports
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, keeping supply levels low and supporting some stronger-than-expected monthly price gains,” said CREB® Chief Economist Ann- Marie Lurie. “Prices are still below the May 2022 peak and it is still early in the year. However, if we do not see a shift in supply, we could see further upward pressure on prices over the near term.”
Both sales and new listings declined over last year’s record high for the month. While sales activity remained stronger than long-term trends and levels reported throughout the 2015 to 2020 period, new listings fell below long-term trends. With a sales-to-new-listings ratio of 73 per cent and a months of supply of under two months, the market has struggled to move into balanced territory causing further upward pressure on home prices. The unadjusted benchmark price increased by nearly two per cent over January levels and last year’s prices.
Read the full report on the CREB website!
The following data is a comparison between February 2023 and February 2022 numbers, and is current as of March 2023. For last month’s numbers, check out our previous infographic.
Or follow this link for all our CREB Infographics!
Click on the images for a larger view!
Download Printable Version – February 2023 CREB, City of Calgary Report Part 1
Download Printable Version – February 2023 CREB, City of Calgary Report Part 2
Download Printable Version – February 2023 CREB, Calgary Region Report
INFOGRAPHICS: January 2023 CREB City And Region Market Reports
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 detached homes only comprised 47 per cent of all sales.
“Higher lending rates are causing many buyers to seek out lower-priced products in our market,” said CREB® Chief Economist Ann-Marie Lurie. “However, the higher rates are likely also preventing some move-up activity in the market impacting supply growth for lower-priced homes. This is causing differing conditions in the housing market based on price range.”
Read the full report on the CREB website!
The following data is a comparison between January 2023 and January 2022 numbers, and is current as of February 2023. For last month’s numbers, check out our previous infographic.
Or follow this link for all our CREB Infographics!
Click on the images for a larger view!
Download Printable Version – January 2023 CREB, City of Calgary Report Part 1
Download Printable Version – January 2023 CREB, City of Calgary Report Part 2
Download Printable Version – January 2023 CREB, Calgary Region Report
INFOGRAPHICS: December 2022 CREB City And Region Market Reports
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 the lowest level of inventory reported for December in over a decade.
“Housing market conditions have changed significantly throughout the year, as sales activity slowed following steep rate gains throughout the later part of the year,” said CREB® Chief Economist Ann-Marie Lurie. “However, Calgary continues to report activity that is better than levels seen before the pandemic and higher than long-term trends for the city. At the same time, we have faced persistently low inventory levels, which have prevented a more significant adjustment in home prices this year.”
Read the full report on the CREB website!
The following data is a comparison between December 2022 and December 2021 numbers, and is current as of January 2023. For last month’s numbers, check out our previous infographic.
Or follow this link for all our CREB Infographics!
Click on the images for a larger view!
Download Printable Version – December 2022 CREB, City of Calgary Report Part 1
Download Printable Version – December 2022 CREB, City of Calgary Report Part 2
Download Printable Version – December 2022 CREB, Calgary Region Report
INFOGRAPHICS: November 2022 CREB City And Region Market Reports
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 sales.
“Easing sales have been driven mostly by declines in the detached sector of the market,” said CREB® Chief Economist Ann-Marie Lurie. “Higher lending rates are impacting purchasers buying power and limited supply choice in the lower price ranges of the detached market is likely causing many purchasers to place buying decisions on hold.”
Read the full report on the CREB website!
The following data is a comparison between November 2022 and November 2021 numbers, and is current as of December 2022. For last month’s numbers, check out our previous infographic.
Or follow this link for all our CREB Infographics!
Click on the images for a larger view!
Download Printable Version – November 2022 CREB, City of Calgary Report Part 1
Download Printable Version – November 2022 CREB, City of Calgary Report Part 2
Download Printable Version – November 2022 CREB, Calgary Region Report
INFOGRAPHICS: October 2022 CREB City And Region Market Reports
Sales remain stronger than pre-covid levels
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 pullback in housing sales like other parts of Canada, thanks to persistently strong demand for our higher density product,” said CREB® Chief Economist Ann-Marie Lurie. “While our city is not immune to the impact that inflation and higher rates are having, strong employment growth, positive migration flows and a stronger commodity market are helping offset some of that impact.”
New listings also trended down this month causing the sales-to-new-listings ratio to rise to 85 per cent and inventories to trend down. Much of the inventory decline has been driven by product priced below $500,000.
Read the full report on the CREB website!
The following data is a comparison between October 2022 and October 2021 numbers, and is current as of November 2022. For last month’s numbers, check out our previous infographic.
Or follow this link for all our CREB Infographics!
Click on the images for a larger view!
Download Printable Version – October 2022 CREB, City of Calgary Report Part 1
Download Printable Version – October 2022 CREB, City of Calgary Report Part 2
Download Printable Version – October 2022 CREB, Calgary Region Report
INFOGRAPHICS: September 2022 CREB City And Region Market Reports
Demand shifting to more affordable option
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 to strong levels earlier in the year, year-to-date sales remain 15 per cent higher than last year’s levels.
“While demand is easing especially for higher priced detached and semi-detached product, purchasers are still active in the affordable segments of the market, cushioning much of the impact on sales,” said CREB® Chief Economist Ann-Marie Lurie. “At the same time, we are seeing new listings ease, preventing the market from becoming oversupplied and supporting more balanced conditions.”
In September, new listings declined by ten per cent. With a sales-to-new-listings ratio of 72 per cent it was enough to prevent any gain in inventory levels, which declined over last month and were nearly 21 per cent lower than last year’s levels. The adjustments in both sales and supply levels have caused the months of supply to remain relatively low at less than three months.
The shift to more balanced conditions is causing some adjustments to home prices. While prices have slid from the highs seen in May, as of September, benchmark prices remain 11 per cent higher than last year and six per cent higher than levels reported at the beginning of the year.
Read the full report on the CREB website!
The following data is a comparison between September 2022 and September 2021 numbers, and is current as of October 2022. For last month’s numbers, check out our previous infographic.
Or follow this link for all our CREB Infographics!
Click on the images for a larger view!
Download Printable Version – September 2022 CREB, City of Calgary Report Part 1
Download Printable Version – September 2022 CREB, City of Calgary Report Part 2
Download Printable Version – September 2022 CREB, Calgary Region Report
INFOGRAPHICS: August 2022 CREB City And Region Market Reports
Supply levels ease with fewer new listings in August
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 market, we are still seeing homebuyers shift to more affordable options which is keeping sales activity relatively strong,” said CREB® Chief Economist Ann-Marie Lurie. “This makes Calgary different than some of the larger cities in the country which have recorded significant pullbacks in sales.”
At the same time, new listings continue to trend down, preventing any supply gains or a substantial shift in the months of supply.
Despite year-over-year gains in new listings, the spread between new listings and sales this month narrowed compared to the past three months. This caused total inventory to trend down and prevented any significant shift in the months of supply. The months of supply in August remained at just above two months, not at tight as earlier in the year, but still below levels traditionally seen this time of year.
Read the full report on the CREB website!
The following data is a comparison between August 2022 and August 2021 numbers, and is current as of September 2022. For last month’s numbers, check out our previous infographic.
Or follow this link for all our CREB Infographics!
Click on the images for a larger view!
Download Printable Version – August 2022 CREB, City of Calgary Report Part 1
Download Printable Version – August 2022 CREB, City of Calgary Report Part 2
Download Printable Version – August 2022 CREB, Calgary Region Report
INFOGRAPHICS: July 2022 CREB City And Region Market Reports
Detached home sales decline as apartment condominium sales rise
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 market.
Rising lending rates are causing shifts within the market and, as a result, new listings for higher-priced product are on the rise relative to sales activity,” said CREB® Chief Economist Ann-Marie Lurie.
Meanwhile, there continues to be a lack of supply for lower-priced detached and semi-detached product. This is driving consumers who are looking for affordable homes to purchase apartment- and row-style properties.”
Read the full report on the CREB website!
The following data is a comparison between July 2022 and July 2021 numbers, and is current as of August 2022. For last month’s numbers, check out our previous infographic.
Or follow this link for all our CREB Infographics!
Click on the images for a larger view!
Download Printable Version – July 2022 CREB, City of Calgary Report Part 1
Download Printable Version – July 2022 CREB, City of Calgary Report Part 2
Download Printable Version – July 2022 CREB, Calgary Region Report
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