December Market Report 2023
Posted by Erin Reeves on
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…
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