Oversupplied Market Ultimately Weighs on Prices 

City of Calgary, November 1, 2018 

Inventory levels are elevated when compared alongside sales, which is causing Calgary housing prices to ease a bit more. 

Benchmark prices in the entire city during October totalled $426,300, which is a downward trend for the fifth month in a row. This resulted ultimately in a year-over-year decline of 2.9 percent. 

Chief economist Ann-Marie Lurie of CREB claimed avidly that job growth in the city remained a dire concern, as unemployment levels remain well above expected. The overall cost of ownership continuing to rise also will ultimately provide a burden of weight on the housing market and demand. 

Overall sales and inventories totaled 7,345 and 1,322 during the month of October. Typical monthly levels usually hover around 5.6, and while there is a bit of slowing in listing growth, this ultimately prevents further inventory risings. Currently the...

After the wedding ends and the party is over, it is time to start thinking about a place to call home, your first martial home of all your own. While some newlyweds choose to rent, some prefer to own their new home together.  Weddings can be so expensive , just ask any bride to be and she will te

ll you the budget is nearly always higher than anticipated leaving many newlyweds over extended and in marital debt after the wedding.  With all that debt from the wedding , what options are there for the purchase of a home in terms of down payments ? ...

What to Expect When Buying your First Calgary Condo 

Your journey in purchasing a condo for the first time can be both challenging and exciting. You have to be all prepped up for all types of soul-searching and decision-making. After all, this is one of the biggest investments of your life and you don’t want to end up making the wrong choice. 

By now, you might have countless questions running through your mind. Here is some relevant information to point you in the right direction: 

Know what you want. ...

While drilling down into some of the new statistics that the Calgary Real Estate Board recently released, we discovered something very interesting.   The district of Calgary West  which is loosely defined as everything west of Crowchild Trail, north of Glenmore Trail/Highway 8 and south of the river or Trans-Canada Highway, is one of the city’s most stable market areas. That’s in all housing types, from single-family to attached, town homes and condos.  Calgary West showed the strongest annual growth in 2017 with only City Centre to look up to.

The Proof is in the Numbers

As the following chart will show, the communities in Calgary West survived the recent downturn as the best for single-family homes and was the runner-up for apartment condos. ...

We just got the stats for September 2017 and sales slipped a little in Calgary real estate last month.  The good news is that we had some good numbers in the first six months of 2017 and this activity managed to boost our year-to-date average up by 7% over 2016.  It’s still 11% under those long-term averages, and I agree with the Calgary Real Estate Board's take on the market – with more listings coming in and sales slowing in this last quarter of the year, we’re going to have to work hard to maintain our optimism!

There was a bump in inventory last month – we were up by 6,861 units – with attached properties and apartment condos setting a record for the highest inventory ever.  That means, from a buyer’s...

Calgary condo sales slow but still moving

It doesn’t appear to make sense.

We’re approaching the final quarter of this calendar year and in the world of Calgary Real Estate, there are record numbers of apartment-style condominiums on the market.   Canada Mortgage and Housing says there may be in excess of 2,000 empty units in Calgary. Yet, more brand-new condo buildings continue to be built, especially in the inner city and surprisingly, in the northeast.  All while owners of resale units are watching their days-on-the-market numbers pile up.

While it may appear fool-hardy to build more, even though our economy is slowly picking up, it’s important to remember...

Calgary Real Estate Market Statistics for March 2016

Calgary House Market Continues Decline

As economic conditions continue to be less than desirable in, the Calgary real estate market has also continued to be negatively impacted. Not only have Calgary house prices fallen, but inventory levels are also on the rise.

Calgary Housing Market Graph - March 2016

Examining the Calgary Economy

During the month of March, the Calgary labor market did not experience any improvement. In fact, provincial unemployment rates are the highest they have been since the early 1990s. In February, Calgary’s unemployment rate increased...

Prices continued to fall within the Calgary housing market in October as elevated inventory levels and a persistent weakness in the overall economy continue to drag prices down. The month of October also saw a significant decline in the number of sales as demand for real estate in the city continues to fall.

According to the most recent CREB data, benchmarkprices within the Calgary housing market fell by 0.7 percent when compared to September and by 1.2 percent when compared to October of last year as they reached $453,100. In addition to seeing a drop in prices in October, demand also fell by nearly 16 percent the long-term averages while new listings failed to fall enough to prevent inventory gains. In fact, the months of supply was at three months in June, but increased to six months in October....