Calgary’s housing market is showing signs of improvement, with inventory levels rising from near-record lows in 2023. In October, sales reached 2,174 units, 24% above long-term averages for the month, though the year-over-year increase was modest at just 0.2%. Housing supply has also risen significantly, from 3,025 units in October 2023 to 4,966 units this year.
Despite stronger-than-expected demand, sales activity could have been higher if there were more affordable homes available. The market remains tight, with half of the inventory priced above $600,000, while the benchmark price is $592,500. With only 2.3 months of supply and a sales-to-new listings ratio of 67%, the market continues to favor sellers.
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* Only when the buyer comes direct, otherwise the seller may choose to negotiate a commission with the buyer’s agent.
