These are challenging times, and we hope that everyone is healthy and well. For now, here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

As noted in their latest market report, after a strong start to 2020, economic conditions have dramatically changed, as COVID-19 is impacting all aspects of society.

The economic impact is starting to be felt across many industries. This includes the housing market.

March sales activity started the month strong, but quickly changed, as concerns regarding the spread of COVID-19 brought about social distancing measures. This had a heavy impact on businesses and employment.

By the end of March, sales activity had fallen 11% compared to last year. This is 37% lower than long-term averages. The drop in sales pushed...

We are now steadily moving into the month of March, and here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

According to CREB’s latest media release, home sales see a bump and February saw a double-digit gain in sales, but last February was one of the slowest levels of activity since the late ’90s.

With the extra day this February, monthly sales totaled 1,197 units. A combination of these two factors resulted in a 23% improvement over last year, but sales remain well below longer-term trends and consistent with the lower levels reported over the past five years.

As noted by CREB chief economist Ann-Marie Lurie,

“However, this should not diminish the fact that conditions are still improving.

Calgary is continuing to see slow reductions...

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

In their most recent market update, CREB reports that housing market conditions continue to follow similar trends to last year, with gains in sales.

At the same time, there have been further reductions in new listings, inventory and more declines in prices.

January sales activity was 863 units, nearly 8% higher than last year’s levels. While sales remained well below January activity recorded before 2014, they remain consistent with activity recorded over the past five years.

Citywide unadjusted benchmark prices were $417,100 in January. This is slightly lower than the previous month and nearly 1% lower than last year’s levels.

Benchmark prices eased, but there were some modest ...

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...