As November unfolds, Calgary's real estate market reflects seasonal adjustments alongside broader economic influences. Here are the key trends for buyers and sellers in Calgary and surrounding areas:
Current Market Overview
Sales Trends: Sales volumes in October remained steady compared to last year, supported by strong activity in higher-priced homes. This segment benefits from increased inventory, creating more balanced conditions. Lower-priced homes, however, still face inventory challenges, keeping that segment a seller’s market.
Inventory Levels: Inventory has significantly improved from last year, with 4,966 active listings as of October. However, nearly half are priced above $600,000, impacting first-time buyers' affordability and availability.
Price Movement: Benchmark prices for detached homes, row homes, and condos continue to rise annually. Detached homes saw an 8% year-over-year increase, reaching $753,900, while row homes and condos recorded gains of 8% and 11%, respectively.
Opportunities for Sellers
Strong Demand in Mid-Range Properties: Homes priced below $700,000 continue to sell quickly, offering sellers excellent opportunities to capitalize on the low inventory in this range.
Seasonal Positioning: The holiday season often brings serious buyers to the market. For sellers, this means the potential to attract motivated buyers even as activity slows.
Opportunities for Buyers
Negotiation Potential in Luxury Market: With increased inventory, the upper-end market offers buyers more options and room for negotiation.
Condos as an Entry Point: Condos remain a solid option for affordability. Rising inventory in the $300,000–$500,000 range has slightly eased price pressures.
Rental and Investment Potential
For investors, Calgary's rental market continues to be robust, supported by population growth and strong demand. Holding properties in high-demand neighbourhoods is a strategy for long-term capital gains as the city’s economic expansion continues.
Whether you're planning to buy, sell, or invest, Calgary’s dynamic real estate market offers opportunities tailored to a range of needs.
You can explore market updates at trusted local sources like the Calgary Real Estate Board (https://www.creb.com/Housing_Statistics/ ) for further insights.