Calgary Real Estate Market Trends
Calgary has long been considered one of the best cities in Canada to live in. In the past 15 years, the strength of the area's oil & gas economy has created an incredible environment for lifestyle and real estate investment, a trend analysts expect will continue.
While the city was not immune to the recent economic downturn, Calgary's real estate market has been more resilient to lower commodity prices than it was in the early ''80s.
Despite lower sales volume, many Calgary homes have seen only single-digit declines in value. While property values are well below previous highs, prices for the majority of detached single-family homes are now seeing an increase in the Benchmark price.
Oil is now trading in the $50 US per barrel range, and Calgary property listings - with the exception of condos - have retuned to normal (neutral) market conditions.
If you have any questions about our current market please give us a call.
Last Month in Calgary
- January 2021 MLS® Sales Stats -
Market Momentum Continues with highest MLS® sales since 2014
- Average Sale Price (Det SF) $558,912 (up 3.6% Yr/Yr)
- Median Sale Price (Det SF) $482,158 (up 4.5% Yr/Yr)
- Condo Average Sale Price $257,554 (up 9.6% Yr/Yr)
- Condo Median Sale Price $220,000 (up 4.8% Yr/Yr)
- Days on Market: Detached 53 days; Condos 65 days
- Detached home sales: Up 42% Yr/Yr
- Condo sales: Up 27% Yr/Yr
- Detached Listing Inventory: 2.3 months (4.8 months last year)
- Condo Listing Inventory: 7.1 months (9.1 months last year)
- 17% of detached homes sold for full price or more in January (vs 8% last year)
Search for Calgary Homes:
Property Market Trend
Despite an economy slowed by COVID19, Calgary detached-home sales were up 41% Y/Y in January. The demand is being fueled more by historically low interest rates and low listing inventory than it is pent-up demand *January 2021*.
As always, well-priced properties only remain on the MLS® System a short time before they are sold, as buyers seek to close the deal with as little competition as possible.
If you're in the market for a Calgary home for sale, you definitely want to have a leg up on other buyers. Working with a member of the Jim Sparrow Team - all experienced Calgary REALTOR's - is a decision that you'll be glad you made.
Please fill out our contact form, or call 403-703-2404 for assistance. anytime you need to know more about Calgary real estate or any property that interests you. When you're ready to take the next step toward purchasing a home, we're here to help.
Return to Home Page - Calgary Real EstateSW Calgary Real Estate Listings SE Calgary Listings NW Calgary Real Estate Listings Contact Jim Sparrow