Calgary housing market sees best March sales in over a decade

The initial impact of COVID-19 on the housing market began last March.

One year later, it is not a surprise that March sales in 2021 were higher than in 2020. However, at 2,903 sales, this was the highest March total since 2007.

“Low lending rates and improved savings have supported sales activity,” said CREB® chief economist Ann-Marie Lurie.

“However, sales have been somewhat restricted by the lack of listings. This month there was a jump in new listings, contributing to the strong monthly sales.”

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The following data is a comparison between March 2020 and March 2021 numbers, and is current as of April 2021. For last month’s numbers, check out our previous infographic.

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Sellers’ market leads to rising prices

With gains in every price range, residential sales activity in February totalled 1,836 units. This reflects the best February since 2014.

“Despite continued COVID-19 restrictions, housing activity continues to improve. Much of the strong sales activity is expected to be driven by exceptionally low mortgage rates,” said CREB® chief economist Ann-Marie Lurie.

“Confidence is also likely improving as vaccine rollouts are underway. Additionally, some of the worst fears concerning the energy sector are easing with recent gains in energy prices.”

New listings also improved in February, but the gap between new listings and sales narrowed. This is causing the sales-to-new-listings ratio to rise to 65 per cent, keeping the months of...

January 2021: sales activity signals strong start to the year

January sales were the highest they have been for the month since 2014, as housing market momentum from the end of 2020 carried over into the start of 2021.

Sales activity improved across all product types and across all price ranges.

“Discount lending rates are exceptionally low, which is likely attracting all types of buyers back into the market,” said CREB® chief economist Ann-Marie Lurie.

“New listings in the market were also slightly higher than what was available over the past two months, which is providing more options to purchasers.”

Read the full report on the CREB website.

The following data is a comparison between January 2021 and January 2020 numbers, and is current as of February 2021. For last month’s numbers,...

December 2020: Amidst economic challenges, housing market ends 2020 on a high note

With December sales of 1,199, this is the highest December total since 2007.

“Housing demand over the second half of 2020 was far stronger than anticipated and nearly offset the initial impact caused by the shutdowns in spring,” said CREB® chief economist Ann-Marie Lurie.

“Even with the further restrictions imposed in December, it did not have the same negative impact on housing activity like we saw in the earlier part of the year.”

Attractive interest rates, along with prices that remain lower than several years ago, have likely supported some of the recovery in the second half of the year. However, it is important to note that annual sales activity declined by one per cent compared to last year and remains well...

Sales activity remains strong in November.

For the sixth month in a row, sales in the Calgary market recorded a year-over-year gain.

Sales growth over the past several months has been the strongest seen in the past five years, but the activity has not been strong enough to offset the pullbacks from the spring. Year-to-date sales remain over 3% lower than last year’s levels.

New listings continue to slow, reducing inventory in the market. On a year-to-date basis, new listings have eased by nearly 10% and are at the lowest level recorded since 2001. This has reduced the oversupply that has been impacting the market for nearly five years.

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The following data is a comparison between November 2019 and November 2020 numbers, and is current as...

Detached homes drive Calgary sales growth

With strong gains in the detached sector, October sales in the city reached 1,764 units. This is a 23% increase over last year and well above longer-term averages.

The gain in citywide residential sales outpaced the growth in new listings, supporting tighter market conditions and improving prices.

Improving sales over the past four months were not enough to offset the pullbacks in the second quarter, leaving year-to-date sales nearly 6% below last year’s levels.

Read the full report on the CREB website.

The following data is a comparison between October 2019 and October 2020 numbers, and is current as of November 2020. For last month’s numbers, check out our previous infographic.

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September sales activity jumped to 1,702 units, the strongest September total since 2014.

New listings in September improved over last month, but levels remained comparable to the previous year. The increase in sales relative to new listings did prevent any monthly gains in inventory levels, but supply in the market is still down 12 per cent compared to last year.

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The following data is a comparison between September 2019 and September 2020 numbers, and is current as of October 2020. For last month’s numbers, check out our previous infographic.

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August 2020: home sales consistent, but COVID-19 impacts continue

Total residential sales in August were relatively stable compared to last year with year-over-year gains in the detached and row sectors.

These gains offset declines in the apartment and semi-detached sectors.

The 1,573 sales recorded in August are consistent with levels over the past five years. Year-to-date sales activity remains nearly 13 per cent below last year.

Read the full report on the CREB website!

The following data is a comparison between August 2019 and August 2020 numbers, and is current as of September 2020. For last month’s numbers, check out our previous infographic.

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Click on the images for a larger view! (Protip: Make sure to grab the printable...

July 2020: Detached and semi-detached home sales rise, but economic uncertainty remains

With higher sales for both detached and semi-detached product, July sales totals rose above last year’s levels. Despite the improvements in July, year-to-date sales remain 15% lower than last year’s levels.

COVID-19 shutdowns occurred over the traditionally busiest quarter for real estate sales. Some of the recent gains reflect activity that would have occurred in those months shifting into July. Some demand is returning to the market, but so is the supply.

Inventory levels trended up over the previous month, offsetting some of the sales growth. Higher-density row and apartment products have supply/demand ratios that are well above traditional levels.

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Sales decline by 2% from last year amidst COVID-19 pandemic

After three months where COVID-19 weighed heavily on the housing market, sales activity in June continued to trend up from the previous month, totalling 1,747 units.

Caution remains necessary, as monthly sales are nearly 2% lower than activity recorded last year. However, this represents a significant improvement compared to the past several months, where year-over-year declines exceeded 40%.

Read the full report on the CREB website!

The following data is a comparison between June 2019 and June 2020 numbers, and is current as of July 2020. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab...