Despite a decrease in December sales compared to the previous year, Calgary's real estate market still outperforms long-term averages. The benchmark price remains elevated, and experts attribute the performance to population growth and a limited housing supply.
January 02, 2025 at 2:32PM EST Joshua Varghese, corporate advisor and member of Trez Capital's board of governors, discusses allocating funds to property-related stocks. CALGARY — Calgary home sales declined in December from the previous year's levels but remained nearly 20 per cent higher than long-term trends. The Calgary Real Estate Board says 1,322 homes changed hands last month, which was 2.9 per cent lower than December 2023. On a month-over-month basis, home sales were down 26.
3 per cent from November levels. The benchmark price across all home types was $583,300 for December, around 0.8 per cent lower than the previous month but 3.2 per cent higher than December 2023.The board says overall sales in 2024 came just shy of reaching last year’s levels, as gains for higher-priced homes offset pullbacks in the lower price ranges amid supply challenges. CREB's chief economist Ann-Marie Lurie says Calgary's population gains in recent years have helped sales activity outperform long-term trends, but sales would have likely been higher last year had there been more supply choice
Calgary Real Estate Home Sales Housing Market Benchmark Price Supply And Demand
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