January Market Report 2023

Supply of lower-priced homes remains low for January

February 1, 2023 - 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…

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COMING SOON - 60 Auburn Sound Terrace SE

Coming Soon to the highly desirable community of Auburn Bay, 60 Auburn Sound Terrace SE.  This fully developed walkout home is situated on an oversized pie lot that is a quarter acre in size and located at the end of a quiet cul-de-sac.  Enjoy lake life within walking distance to Auburn Bay's exclusive central lake, and a short drive from all the amenities neighboring Seton has to offer.  This 4 bedroom home is not one to be missed!

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Calgary Real Estate Board 2023 Forecast

Calgary housing market expected to stabilize in 2023 

City of Calgary, January 24, 2023 - The Calgary Real Estate Board (CREB®) has released its 2023 Forecast Calgary and Region Yearly Outlook Report. The report, which is prepared by CREB® Chief Economist Ann-Marie Lurie, provides a detailed analysis of the economic and housing market trends in Calgary and surrounding areas for the upcoming year.

According to the report, elevated lending rates are expected to weigh on sales in 2023, bringing levels down from the record high in 2022. However, with forecasted sales of 25,921 in 2023, levels are still expected to be higher than the activity reported before the pandemic.

“Higher commodity prices, recent job growth, record high migration and relative…

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COMING SOON - #12, 138 Seton Passage SE

Coming soon to the desirable urban community of Seton. Built in 2019, this 2 bedroom, 2.5 bathroom townhome has an attached tandem garage and modern finishings. Located within walking distance to the world's largest YMCA, Calgary South Health Campus Hospital, Cineplex, shopping, and services, this home is perfect for the first time homebuyer or investor. Don't miss it!

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December Market Report 2022

2022 saw record-high sales and double-digit price growth

City of Calgary, January 3, 2023 - 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…

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November Market Report 2022

2022 on track to be a record year for sales

City of Calgary, Dec. 1, 2022 – 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…

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COMING SOON - 58 Evergreen Manor SW: Close to Fish Creek Park!

Coming soon to the established community of Evergreen Estates - 58 Evergreen Manor SW.  Live walking distance to Fish Creek Park in this beautifully maintained 3 bedroom, 2.5 bathroom family home!

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October Market Report 2022

Sales remain stronger than pre-covid level

City of Calgary, Nov. 1, 2022 – 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,…

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September Market Report 2022

Demand shifting to more affordable options

City of Calgary, October 3, 2022 - 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…

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