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Calgary Real Estate Market Update – 2022-12-21


Not a lot of change this month -- Still in a weak Sellers' Market overall

The Calgary city market still has low inventory and sales continue to keep prices up even with the higher mortgage interest rates now approaching historically normal rates. There are only 10 days left for foreign buyers to complete deals before the 2-year prohibition.

Single-family home inventory on our Calgary MLS® System broken down:

• detached homes:

1,104 Active + 183 Pending Sales = 1,287 Available Inventory
718 Sold in last 30 Days = 1.79 months of supply

• apartment condo homes:

679 Active + 113 Pending Sales = 792 Available Inventory
373 Sold in last 30 Days = 2.12 months of supply

• town homes:

256 Active + 71 Pending Sales = 327 Available Inventory
217 Sold in last 30 Days = 1.51 months of supply

• semi-detached homes (½ duplexes):

222 Active + 32 Pending Sales = 254 Available Inventory
98 Sold in last 30 Days = 2.59 months of supply

• Total Market:

2,254 Active + 399 Pending Sales = 2,653 Available Inventory
1,406 Sold in last 30 Days = 1.89 months of supply

• Condominium properties (only):

907 Active + 181 Pending Sales = 1,088 Available Inventory
579 Sold in last 30 Days = 1.88 months of supply

[source: creb, Pillar-9, 2022-12-21]
A normal, and highly desirable, “balanced” market has between 2 and 4 months of inventory supply.
___________________________
Tom Bushey,
Associate Broker & REALTOR®
RE/MAX iREALTY INNOVATIONS
403-860-8291
Tom@TomBushey.ca
 https://TomBushey.ca
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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.