Calgary Housing Statistics
Most Recent Calgary Real Estate Statistics: February, 2024
- Days on Market: 24 (Down by 26.8% from a year ago)
- Average Price: $583,160( Up by 15% from a year ago)
- Active Listings: 2,355 (Up by 13.6% from a year ago)
- Sold Listings: 2,135 (Up by 22.8% from a year ago)
- New Listings: 2,711 (Up by 13.6% from a year ago)
- Sold to List Price Ratio: 101.02% (Up by 1.57% from a year ago)
- Months of Inventory: 1.10 (Down by 30.2% from a year ago)
Calgary Housing Prices
2023 - February | 2024 - February | Y/Y - % Change | |
Total Sales | 1,738 | 2,135 | 22.84% |
Total Sales Volume | $880,858,321 | $1,245,047,057 | 41.34% |
New Listings | 1,852 | 2,137 | 15.39% |
Inventory | 2,386 | 2,711 | 13.62% |
Months of Supply | 1.58 | 1.10 | -30.19% |
Sales to New Listings Ratio | 72.84% | 78.75% | 5.91% |
Sales to List Price Ratio | 99.45% | 101.02% | 1.57% |
Days on Market | 33 | 24 | -26.75% |
Benchmark Price | $530,500 | $585,000 | 10.27% |
Median Price | $460,000 | $548,500 | 19.24% |
Average Price | $506,823 | $583,160 | 15.06% |
Index | 247 | 272 | 10.30% |
Number of Days it Takes to Sell a Home in Calgary (DOM)
In February 2024, the number of days an average property listed on the market was for 24 days. In the same month of 2023, the average MLS® listing in Calgary sold in 33 days. This figure is composed of all listings on the Calgary MLS® System, including condominiums: apartments, townhouses, and single-family and attached houses within the boundaries of Calgary city limits.
Average Real Estate Prices in Calgary
The average price of a home in Calgary was $583,160 in February 2024. Currently, it is about 15.1% more than it was in the same month of 2023 when the combined price of single-family, condominiums and attached homes were recorded at $506,823.
Active MLS® Listings in Calgary
Active listings on the market in Calgary can often be the indication of a shifting market as real estate prices can be influenced by the difference between the supply of inventory and the number of buyers being active in the market.
On the last day of February, the number of active listings in Calgary was recorded at 2,355 units, which is a decrease of 14.2% compared to February of 2023 when 2,746 homes were listed for sale in Calgary, AB.
Number of Homes Sold in Calgary
The number of sold homes in Calgary last month was 2,135 properties. It is reflecting a seasonal trend when compared to January's numbers of 1,738 sold units, or a month-to-month increase of 29.4%. On a year-over-year comparison, the number of sold units increased by 22.8%.
New Listings in Calgary
When compared to the same month in 2023, the number of new listings in Calgary in February 2024 increased by 13.6% as CREB has recorded 2,711 new listings coming on the market in Calgary. On a month-to-month comparison, the number of new listings in Calgary increased by 26.7% which is a combination of current market trends and the seasonal cycle of the real estate market.
Months of Housing Supply
The pace of the market or months-of-inventory indicates the level of interest of the homebuyers on the street. A typical balanced market can be characterized by a 2-3.5 month of inventory.
Currently, the number of active listings is sitting at a supply of 1.10 months. It means, that if buyers would be acquiring real estate at the same rate and no new listings were to enter the market, then it would take this many months to buy up all of the available real estate listings in Calgary. In February 2023, the housing supply was sitting at an inventory of 1.58 months, meaning that buyers are about 30.1% more active today to purchase real estate than they were a year ago.
The Odds of Selling a Home
The odds of selling takes into consideration the amount of sold properties compared to all the available listings in Calgary that were on the market in a given month.
Within the City of Calgary, in February 2024, a total of 90.7% out of all MLS® listings were sold when compared to the active listings which were recorded on the last day of the month (excluding expired and terminated listings throughout the month). It also means that a mere 9.3% of homeowners did not succeed at selling and they either became an expired listing or have been terminated at the request of the seller. At the same time in 2023, homeowners were able to sell their properties with a 27.4% lower success rate as approximately 63.3% of all the listings in Calgary that went up for sale have sold.
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Discussion
Thank you for sharing! Very informative statistics compared to last year and this year.
These are very great stats on the housing market in Calgary. However, I think the current economic state and pandemic needs to be considered with the current housing market.
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