Calgary Housing Statistics
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Most Recent Calgary Real Estate Statistics: February 2023
- Days on Market: 33 (Down by 32% from a year ago)
- Average Price: $506,685 (Down by 7.5% from a year ago)
- Active Listings: 2,750 (Down by 23.8% from a year ago)
- Sold Listings: 1,740 (Down by 47.2% from a year ago)
- New Listings: 2,389 (Down by 25.1% from a year ago)
- Sold to List Price Ratio: 99.28% (Down by 3.86% from a year ago)
- Sold Above Asking Price: 700 (Down by 208.1% from a year ago)
- Months of Inventory: 1.58 (Down by 44.3% from a year ago)
- Odds of Selling: 63.3% (Down by 27.4% from a year ago)
Calgary Housing Prices
| 2022 - February | 2023 - February | Y/Y - % Change | |
| Total Sales | 3,293 | 1,740 | -47.16% |
| Total Sales Volume | $1,804,129,980 | $881,631,200 | -51.13% |
| New Listings | 4,651 | 2,389 | -48.63% |
| Inventory | 3,607 | 2,750 | -23.76% |
| Months of Supply | 1.10 | 1.58 | 44.29% |
| Sales to New Listings Ratio | 70.80% | 72.83% | 2.03% |
| Sales to List Price Ratio | 103.14% | 99.28% | -3.86% |
| Days on Market | 25 | 33 | 34.46% |
| Benchmark Price | $522,900 | $530,900 | 1.53% |
| Median Price | $520,000 | $460,000 | -11.54% |
| Average Price | $547,868 | $506,685 | -7.52% |
| Index | 260 | 264 | 1.54% |
Number of Days it Takes to Sell a Home in Calgary (DOM)
In February 2023, the number of days an average property listed on the market was for 33 days. In the same month of 2022, the average MLS® listing in Calgary sold in 25 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 $506,685 in February 2022. Currently, it compares to be about the same as it was in the same month of 2022 when the combined price of single-family, condominiums and attached homes were recorded at $547,868.
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 2,750 units, which is a decrease of 23.8% compared to February of 2022 when 3,607 homes were listed for sale in Calgary, AB.
Number of Homes Sold in Calgary
The number of sold homes in Calgary last month was 1,740 properties. It is reflecting a seasonal trend when compared to January's numbers of 1,199 sold units, or a month-to-month increase of 45.1%. On a year-over-year comparison, the number of sold units decreased by 47.2%.
New Listings in Calgary
When compared to the same month in 2022, the number of new listings in Calgary in February 2023 decreased by 48.6% as CREB has recorded 2,389 new listings coming on the market in Calgary. On a month-to-month comparison, the number of new listings in Calgary increased by 29% which is a combination of falling demand and the seasonal cycle of the real estate market.
Homes Sold Above the Asking Price
The demand for quality homes in Calgary remains as the number of properties that have sold at or above the asking price in February exceeded 700 listings which represent 40.2% of the total sold listings in Calgary. In the same month of the previous year, 2,157 homes have sold for equal or higher than the initial asking price.
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 1.58 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 2022, the housing supply was sitting at an inventory of 1.10 months, meaning that buyers are 44.3% less 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 2023, a total of 63.3% 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 36.7% 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 2022, homeowners were able to sell their properties with a 27.4% higher success rate as approximately 91.3% of all the listings in Calgary that went up for sale have sold.
ARE YOU THINKING OF BUYING OR SELLING A HOME?
Give us a call at 587-318-3801 to learn more about how we can help with your real estate plans!
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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