Calgary Housing Statistics
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Most Recent Calgary Real Estate Statistics: November 2023
- Days on Market: 29 (Down by 27.5% from a year ago)
- Average Price: $540,106 (Up by 10.2% from a year ago)
- Active Listings: 2,989 (Down by 4% from a year ago)
- Sold Listings: 1,787 (Up by 8.8% from a year ago)
- New Listings: 2,227 (Up by 38.2% from a year ago)
- Sold to List Price Ratio: 99.43% (Up by 1.71% from a year ago)
- Sold Above Asking Price: 692 (Up by 52.5% from a year ago)
- Months of Inventory: 1.67 (Down by 11.8% from a year ago)
- Odds of Selling: 59.8% (Down by 7.1% from a year ago)
Calgary Housing Prices
| 2022 - Novembver | 2023 - November | Y/Y - % Change | |
| Total Sales | 1,642 | 1,787 | 8.83% |
| Total Sales Volume | $805,061,000 | $965,168,883 | 19.89% |
| New Listings | 1,611 | 2,227 | 38.24% |
| Inventory | 3,115 | 2,989 | -4.04% |
| Months of Supply | 1.90 | 1.67 | -11.83% |
| Sales to New Listings Ratio | 101.92% | 80.24% | -21.68% |
| Sales to List Price Ratio | 97.72% | 99.43% | 1.71% |
| Days on Market | 40 | 29 | -27.33% |
| Benchmark Price | $517,300 | $572,700 | 10.71% |
| Median Price | $445,000 | $499,000 | 12.13% |
| Average Price | $490,293 | $540,106 | 10.16% |
| Index | 241 | 266 | 10.72% |
Number of Days it Takes to Sell a Home in Calgary (DOM)
In November 2023, the number of days an average property listed on the market was for 29 days. In the same month of 2022, the average MLS® listing in Calgary sold in 40 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 $540,106 in November 2023. Currently, it is about 10.2% more than it was in the same month of 2022 when the combined price of single-family, condominiums and attached homes were recorded at $490,293.
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 November, the number of active listings in Calgary was recorded at 2,989 units, which is a decrease of 4% compared to November of 2022 when 3,115 homes were listed for sale in Calgary, AB.
Number of Homes Sold in Calgary
The number of sold homes in Calgary last month was 1,787 properties. It is reflecting a seasonal trend when compared to October's numbers of 2,171 sold units, or a month-to-month decrease of 17.7%. On a year-over-year comparison, the number of sold units increased by 8.8%.
New Listings in Calgary
When compared to the same month in 2022, the number of new listings in Calgary in Novembver 2023 increased by 38.2% as CREB has recorded 2,227 new listings coming on the market in Calgary. On a month-to-month comparison, the number of new listings in Calgary decreased by 17% which is a combination of current market trends 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 November exceeded 692 listings which represent 38.7% of the total sold listings in Calgary. In the same month of the previous year, 329 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 1.67 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 November 2022, the housing supply was sitting at an inventory of 1.90 months, meaning that buyers are just as 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 November 2023, a total of 59.8% 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 40.2% 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 7.1% higher success rate as approximately 52.7% 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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