Let’s start off the new year on a good note! Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

As CREB has recently announced on their latest media release, December sales improved to levels more consistent with activity recorded over the past five years. This follows weak sales activity last year.

A stronger second half in 2019 was enough to push annual sales up by 1%.

December unadjusted benchmark prices were $418,500. This is just slightly lower than last month and 1% below last year’s levels.

Overall prices in 2019 declined by 3% over last year’s levels. The total adjustment in prices is a 10% decline since the 2014 slowdown in the energy sector.

While there are signs of stabilization, conditions vary significantly by location, price...

Are you as excited as we are for the coming new year? Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

As noted in CREB’s latest media release, year-to-date residential sales in the city remain just above last year’s levels due to improvements in the attached sector so far this year.

However, November sales activity eased over last year’s levels, mostly due to pullbacks in the apartment sector.

Meanwhile, new listings eased enough relative to sales to cause inventories to ease and the amount of oversupply to come down slightly compared to last year’s levels.

According to CREB® chief economist Ann-Marie Lurie,

“Achieving more stable conditions will take time. Sales activity has been settling in at lower levels and is likely being...

With the winter season just on the horizon, here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

In their latest market update, CREB reports that homes under $500,000 have been moving to more balanced conditions, and that sales activity in October improved by nearly 10% compared to last year, driven mostly by improvements for apartment and attached product.

New listings also eased, which helped reduce inventory levels and the oversupply in the market. Despite the move to more balanced conditions, the market remains oversupplied and prices continue to remain below last year’s levels.

According to CREB® chief economist Ann-Marie Lurie,

“Employment has shifted in the city, with job growth occurring in our non-traditional sectors...

Calgary agents, are you ready for the last quarter of the year? Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

As noted in their latest market report, the CREB market appears to be shifting to stability, as for the third consecutive month, sales activity improved over last year’s figures, and year-over-year new listings and inventories eased. This trend will help support more stability in the housing market.

“Price declines have likely brought some buyers back into the market,” said CREB® chief economist Ann-Marie Lurie, noting improvements in the market continue to be driven by homes priced below $500,000.

In the condominium apartment market, sales improved by 16% this month. This represents the segment’s best September...

And in the blink of an eye, we’re barelling straight into Fall! Closing out the summer months, here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

According to their latest release, CREB has seen an increase in sales activity, mostly led by homes priced below $500,000.

These rising numbers offset sales declines in the higher price ranges. This caused August sales to improve by 6% compared to last year. Sales activity improved for all product types. The growth was largest for apartment-style and attached properties.

New listings continued to ease this month, which caused inventory to decline. This is helping the market shift toward more balanced conditions.

Despite improving sales and reductions in inventory, housing market recovery will...

Ready for August? Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

According to their latest release, it appears that sales have been improving, while at the same time inventory has seen a decline for fourth month in a row within the CREB housing market. The downward inventory count is due to the combination of improving sales and a decline in new listings.

The market continues to favour the buyer, but a continuation in supply reduction compared to sales is needed to support more balanced conditions.

As noted by CREB chief economist Ann-Marie Lurie,

“We are starting to see reductions in supply across the resale, rental and new-home markets.

“This adjustment in supply to the lower levels of demand will support more balanced conditions....

The second half of the year is here, and here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

As they have recently stated in their latest market report, oversupply is slowing down within CREB, but a buyers’ market remains.

New listings coming onto the market continued to decline in June, which is helping to reduce the oversupply of homes in Calgary.

Year-over-year, new listings saw a decrease of nearly 19%. Sales activity slowed this month compared to last year by 6%, but the pullback in new listings was enough to cause inventories to fall by 13% compared to last year’s elevated levels.

While the market still favours the buyer – with 4.3 months of supply – the amount of oversupply has eased and is slowing the decline in prices. As...

Things are looking good in June! Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

In CREB’s latest market report, it appears that sales activity has improved for second consecutive month.

Sales growth in May was met with a decline in new listings. This combination eased the pressure on inventory levels, which finished the month at 7,467 units, a decline of 12% compared to last year.

Improving sales relative to inventory levels caused the months of supply to ease to just under four months. While still oversupplied, this is an improvement from the five months of supply recorded last May.

According to CREB® chief economist Ann-Marie Lurie,

“While sales activity remains low based on historical activity for May, the easing prices have...

Ready for month number five for this year? Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

In CREB’s latest press release, they have mentioned that April 2019 has brought a slight inventory decline along with it, while there have been “no significant changes occurring in sales activity.”

The slight adjustment in supply levels has helped support further reductions in the months of supply, which was 4.6 months in April. While this level still represents oversupply in our market, it does reflect improvement from the nearly seven months of supply that we saw at the start of the year.

According to CREB chief economist Ann-Marie Lurie,

“Demand remains relatively weak in the resale market. However, if supply levels continue...

Are you ready for the second quarter of 2019? Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

According to CREB’s latest market report, March saw a modest decline in city wide sales activity compared to last year. However, sales have been rising for more affordable product in the detached and attached sectors.

Shifts in the lower end of the market have not outweighed easing across the higher priced product. First-quarter sales dropped to 3,108 units. This is 9% below last year and 28% below typical levels of activity.

Price declines and relatively slow sales activity are impacting the number of new listings. For the second consecutive month, new listings eased compared to last year’s levels and long-term trends, but it was not...