December Market Report 2023

Strong migration and low supply drive Calgary housing prices in 2023

Detached

With an annual decline of nearly 20 per cent, the detached market saw the most significant decline in sales activity. While sales did improve for homes priced above $700,000, limited supply choices in the lower price ranges caused consumers to turn to alternative housing styles. Despite some recent gains in higher-priced new listings, inventories have remained near record lows, and the months of supply have remained relatively low throughout 2023.

The persistently tight market conditions have supported further price growth for detached homes, albeit at a slower pace than last year. On average, the benchmark price rose by nearly eight per cent in 2023, with the most…

59 Views, 0 Comments

November Market Report 2023

Increased listings, strong sales, and price growth

Detached

Limited supply choice for homes priced below $700,000 has been the primary cause of the decline in detached home sales. While November reported a marginal gain over last year, year-to-date sales have declined by 20 per cent. November saw a rise in new listings compared to the previous year, but higher-priced homes drove most gains. This has left the detached market with exceptionally tight conditions for prices below $700,000 and more balanced conditions for higher-priced homes. Overall, the month of supply remains exceptionally low at under two months.

Persistently tight conditions continue to cause further price gains in the detached market. As of November, the unadjusted benchmark…

67 Views, 0 Comments

September Market Report 2023

Calgary home sales at record highs in September, yet supply remains a challenge

Detached

Inventory levels remained at record lows for the month as the sales-to-new listings ratio remained relatively high at 76 per cent. The decline in inventory levels has been driven by homes priced below $700,000, as supply levels show some improvement for homes priced above this level. While detached sales improved over levels reported last year, much of the gains were driven by the higher-priced properties with some supply options. Overall, homes priced below $700,000 continue to struggle with less than one month of supply.
 
Despite persistently tight market conditions, the unadjusted benchmark price remained relatively stable this month compared to last…

117 Views, 0 Comments

Reeves Real Estate Report March 2023

March 2023 2023 is off to a great start! In addition to recently receiving eXp Realty's ICON Agent Award, we are so excited to announce that Erin has made the inaugural eXP Realty Top 50 Individuals by volume list in Canada, ranking #22. We couldn’t have done it without our clients, friends, family, and supporters. This is an incredible achievement and we are thrilled to share it with all of you. Thank you eXp Realty and thank you to everyone who has supported Erin. Let’s make 2023 the best year yet! …

164 Views, 0 Comments

eXp Realty Top 50 Agents in Canada 2022

2023 is off to a great start! In addition to recently receiving eXp Realty's ICON Agent Award, we are so excited to announce that Erin has made the inaugural eXp Realty Top 50 Individuals by volume list in Canada, ranking #22. We couldn’t have done it without our clients, friends, family, and supporters. This is an incredible achievement and we are thrilled to share it with all of you. Thank you eXp Realty and thank you to everyone who has supported Erin. Let’s make 2023 the best year yet!

244 Views, 0 Comments

Reeves Real Estate Report February

February 2023 Calgary Monthly Statistics The Calgary Real Estate Board (CREB®) shows the lowest new listing levels since late in the 1990's, seeing the largest decline for lower priced properties. “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.” CREB® February 1, 2023 …

241 Views, 0 Comments

Reeves Real Estate Report January

January 2023 Wishing you and your family health, happiness, and prosperity in the new year. Calgary Monthly Statistics CREBNow reports that the last month of 2022 showed an ease in sales however there has also been a decline in listings making the inventory level the lowest for December in decades. CREB® January 3, 2023 Click Here for more information on Calgary's Statistics …

176 Views, 0 Comments

Reeves Real Estate Report December

December 2022 Calgary Monthly Statistics 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…

277 Views, 0 Comments

Reeves Market Newsletter November

November 2022 Calgary Monthly Statistics The Calgary Real Estate Board (CREB®) reports that mostly due to the detached sector October sales slowed to last years levels.  Even with a slowing in the market 2022 is on track to be 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…

218 Views, 0 Comments