Interesting Facts- Calgary Housing Market

While real estate prices have seen an upsurge in recent years in North American and Canadian cities, things are different in Calgary. If you compare the average rate of a home in Calgary in 2014 and compare it with current prices, you can see there is around 4 to 5% decrease in the prices.

Apartments / Condominiums

• The lower estate prices in Calgary attract many buyers, and the condominium market has witnessed a 16% increase year-over-year. However, condo sales have dropped dramatically since the year 2015.
• The condo inventory is decreasing, and the sector remains far from the buyer’s territory. Regardless of the increase in sales activity, the sales for apartment condominiums in Calgary dropped by 4%.

Attached Homes

• The attached homes in Calgary are more likely to see an upward trend in prices, which is expected to be a 4% increase in comparison to the previous year. The affordability of attached homes is a major factor that has increased sales activity throughout 2019.
• The decrease in inventory and an increasing number of buyers have been the benchmarks for stability of the sector and prices. Despite the slight increase in prices of attached homes in Calgary, the attached homes remain well into the buyer’s territory.    

Detached Homes

• The Detached homes prices in Calgary vary as many factors govern it. According to the latest market reports, there has been an 11% increase in the prices of detached homes priced below $500,000. However, detached homes priced above $500,000 witnessed a price drop of 16%.
• The price of a 6-bed home in Calgary, which was priced around $1.0 million three months ago, is now available for sale at $677K.

Sales Activity in Real Estate market Calgary

• The year-around picture looks promising for the sellers, and you can see the real estate market in Calgary shows a 0.9% annual increase in home prices.

• Despite the increase in sales activity, the Calgary real estate market in 2019 witnessed a reduction in real estate prices. The reason was there were higher numbers of houses for sale in Calgary than the number of buyers which led to a price drop.

• The average sold price of a home in Calgary in the current year is $469K. You would be surprised to know the real estate prices in Calgary have witnessed a 2.2% decline in the period Feb 28- Mar 29.  

• The Calgary housing market is moving towards stable conditions as there has been a decrease in the supply of homes in July 2019 in comparison to last year.

These are some of the interesting facts about real estate in Calgary that present you with the real picture and would help you make an informed decision while looking for houses for sale in Calgary.