Calgary Real Estate Market Trends
Calgary has long been considered one of the best cities in Canada to live in. In the past 20 years, the strength of the area's 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 oil price 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 only saw single-digit declines in value. While property values still remain below previous highs, prices for the majority of detached single-family homes are now seeing a marked increase in value.
Oil is now trading in the $50-$60 US per barrel range, and the majority of Calgary property listings have retuned to balanced market conditions. In fact 2021 has seen most price-points in the detached home segment slip into seller's territory. Last month 38% of all detached sales went for full price or more.
If you have any questions about our current market please give us a call.
Last Month in Calgary
- March 2021 MLS® Sales Stats -
Calgary market records best March sales in 14 years
- Average Sale Price (Det SF) $594,807 (up 10.8% Yr/Yr)
- Median Sale Price (Det SF) $527,950 (up 12.3% Yr/Yr)
- Condo Average Sale Price $260,965 (up 1.0% Yr/Yr)
- Condo Median Sale Price $230,000 (No change Yr/Yr)
- Days on Market: Detached 29 days; Condos 53 days
- Detached home sales: Up 171 Yr/Yr
- Condo (apartment) sales: Up 77% Yr/Yr
- Detached Listing Inventory: 1.3 months (4.2 months last year)
- Condo Listing Inventory: 4.4 months (6.6 months last year)
- 39% of detached homes sold for full price or more in March (vs 12% last year)
Search for Calgary Homes:
Property Market Trend
Despite an economy slowed by COVID19, Calgary detached-home sales were up 171% Y/Y in March. The demand is being fueled by historically low interest rates, low listing inventory, and pent-up demand for detached homes *March 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.
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