READ THE FULL REPORT

JANUARY 1 2025

Row
In 2024, there were 4,647 row home sales, a gain of over two per cent compared to last year and the second-highest total on record. The growth in sales was possible thanks to the 18 per cent gain in new listings, most of which occurred for homes priced above $400,000—the gains in new listings relative to sales supported inventory growth in 2024.

By the year's end, supply improvements helped take the pressure off home prices. However, the annual benchmark price rose by 14 per cent as conditions favoured the seller throughout the year. Prices rose across all districts in the city, with the gains ranging from a low of 12 per cent in the city centre to over 20 per cent in the most affordable districts in the North East and East.

Apartment Condominium
Easing sales in the second half of the year offset earlier gains, causing apartment sales to slow by four per cent compared to last year. However, last year was a record high for sales, and the 7,568 transactions this year reflect the second-highest year on record. At the same time, new listings have been on the rise, supporting inventory gains and a shift toward more balanced conditions by the end of the year.

As more supply became available, we did see some price adjustments in the last quarter of the year. However, the quarterly decline did not offset the strong gains that occurred earlier in the year, and the annual benchmark price rose by 15 per cent. Price growth ranged from a low of 11 per cent in the city centre to over twenty per cent in the North East, East and South districts. 

Calgary, Alberta, January 2, 2025 – The year ended with 1,322 sales in December, a three per cent decline over last year, but nearly 20 per cent higher than long-term trends. Overall sales in 2024 were just shy of last year’s levels, as gains for higher-priced homes offset pullbacks in the lower price ranges caused by supply challenges.

“Population gains over the past several years have supported sales activity that has outperformed long-term trends. In 2024, sales would likely have been higher if there was more supply choice, especially in the lower price ranges,” said Ann-Marie Lurie, Chief Economist at CREB®. “That being said, we did start to see shifts occurring in the market in the second half of the year as supply levels started to improve for higher priced homes.” 

As of December, there were 2,989 units available in inventory, still below long-term trends for the month but a significant improvement over the lower levels reported last December and levels reported early this year. Improved rental choice and significant gains in new home activity helped boost new listings in the resale market, driving higher inventories in the year's second half. 

While conditions vary depending on price range and property type, more housing options have helped to take some of the pressure off home prices, which stabilized in the second half of the year following steep gains in the spring. Overall, on an annual basis, total residential benchmark prices improved by over seven per cent. 

As we move into 2025, supply will continue to be a dominant theme. However, how they impact prices will ultimately depend on the type of supply being added and how demand holds up in the face of a changing economic climate. On January 21, CREB® will release its forecast report, highlighting the expectations and risks facing the market in the coming year.

Detached
Easing lending rates have likely supported some recent year-over-year gains in detached home sales over the past three months. Improving sales were driven by gains for homes over $600,000, which also reported improvements in new listings. Inventory levels did improve within city limits for detached homes; however, conditions varied across districts. The City Centre, North East and North District all reported relatively balanced conditions over the last quarter of the year, while all other districts continued to struggle with seller market conditions. 

The relatively tight market conditions throughout the year caused prices to rise by nearly eleven per cent in 2024, a faster pace than what was reported in 2023. Much of that growth occurred during spring when supply levels were exceptionally low. Prices grew across all districts, with the strongest growth occurring in the most affordable districts of the North East and East. 

Semi-Detached
Limited supply choice for lower-priced detached homes drove many purchasers toward the semi-detached sector. In 2024, there were 2,355 sales, with an annual gain of five per cent. Thanks to gains in new listings relative to sales, inventory levels started to improve, supporting a shift toward more balanced conditions by the fourth quarter. However, much of this shift occurred in the higher-priced City Centre district, where the months of supply averaged three months in the last quarter. 

The annual average benchmark price increased by nearly 11 per cent to $669,042 in 2024. Like detached homes, exceptionally tight conditions throughout the spring caused the pace of price growth to rise over the seven per cent annual gain reported in 2023. Prices improved across all districts, ranging from an annual gain of under 10 per cent in the City Centre and West to gains exceeding 15 per cent in the North East and East districts.

Row
In 2024, there were 4,647 row home sales, a gain of over two per cent compared to last year and the second-highest total on record. The growth in sales was possible thanks to the 18 per cent gain in new listings, most of which occurred for homes priced above $400,000—the gains in new listings relative to sales supported inventory growth in 2024.

By the year's end, supply improvements helped take the pressure off home prices. However, the annual benchmark price rose by 14 per cent as conditions favoured the seller throughout the year. Prices rose across all districts in the city, with the gains ranging from a low of 12 per cent in the city centre to over 20 per cent in the most affordable districts in the North East and East.

Apartment Condominium
Easing sales in the second half of the year offset earlier gains, causing apartment sales to slow by four per cent compared to last year. However, last year was a record high for sales, and the 7,568 transactions this year reflect the second-highest year on record. At the same time, new listings have been on the rise, supporting inventory gains and a shift toward more balanced conditions by the end of the year.

As more supply became available, we did see some price adjustments in the last quarter of the year. However, the quarterly decline did not offset the strong gains that occurred earlier in the year, and the annual benchmark price rose by 15 per cent. Price growth ranged from a low of 11 per cent in the city centre to over twenty per cent in the North East, East and South districts. 

REGIONAL MARKET FACTS

Airdrie
Despite some recent pullbacks, sales activity reached 1,951 units in 2024, a gain of over four per cent compared to last year. The gain, in part, was possible thanks to a boost in new listings that helped add some much-needed supply to the Airdrie market. Much of the inventory gain occurred in the later portion of the year, causing the months of supply to push above two months in September and improve throughout the last quarter of the year.

The shift toward more balanced conditions took some pressure off prices over the last quarter of the year. However, on an annual basis, the benchmark price rose by nearly eight per cent, a faster pace than the previous year. Prices rose across all property types, with faster growth occurring for the relatively more affordable higher-density homes.

Cochrane
Market conditions in Cochrane favoured the seller throughout most of the year as strong sales relative to new listings prevented any significant shift in inventory levels. However, by the last quarter of the year, we started to see more new listings relative to sales, causing the sales-to-new listings ratio to ease to levels more consistent with balanced conditions. This helped support some inventory gains; however, over the last quarter of the year, inventory levels were still well below long-term trends for the area.

The inventory gains relative to sales in the later part of the year did push the months of supply above two months. This helped take some of the pressure off home prices but not enough to offset earlier gains. Overall, the annual benchmark price rose by nearly nine per cent averaging $565,808 in 2024.

Okotoks
New listings rose by 16 per cent in 2024, supporting sales growth of nearly eight per cent. The gains in new listings also helped support some gains in inventory levels this year. However, throughout most of the year, inventory levels were half the levels traditionally seen in the market and have not been high enough to change the seller market conditions that have persisted in Okotoks since 2021.

The tight market conditions drove further price growth this year and at a faster pace than last year. Benchmark prices in Okotoks averaged $615,708 in 2024, nearly eight per cent higher than last year. Several years of price growth caused a rise in activity for semi-detached and row-style units, driving tighter conditions in those sectors and priced growth that exceeded 11 per cent on an annual basis.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

For more information, please contact:

Economic Analysis
Email: stats@creb.ca
Phone: 403-263-0530

As we reflect on the past year, I wanted to take a moment to sincerely thank you for choosing me for your real estate needs. It has been a pleasure working with you, and I’m truly grateful for the trust and confidence you’ve placed in me throughout 2024.

Whether you bought, sold, or still exploring new opportunities, I’m proud to have been part of your journey. Real estate can be an exciting and sometimes challenging process, and I’m glad we could navigate it together with success.

As we step into 2025, I want to wish you continued prosperity, growth, and happiness. May the New Year bring you even greater opportunities, whether that’s finding your dream home, expanding your investment portfolio, or reaching new milestones in your personal endeavors or real estate journey. I’m here to support you every step of the way and look forward to working together again or in the future.

Thank you once again for your business and recommendations. Here’s to an exciting and successful year ahead!

Warmest wishes,
Stewart & The Team at Calgary Dream Homes 

Thank you for all your introductions to friends and family members that you have given us, please call us with any Questions or Market concerns on403.850.0669. You can also info@CalgaryDreamHomes.com.

BREAKING NEWS  :  SEAN RAMPERSAUD - THE MORTGAGE GROUP

Row

Row home sales improved in November compared to last year, contributing to nearly three per cent of year-to-date gains. Sales have remained exceptionally strong over the past three years as purchasers seek more affordable options. At the same time, new listings have also improved relative to sales, supporting year-over-year gains in inventory levels. Despite inventory improvements, conditions remained relatively tight with nearly two months of supply. 

Following steep gains earlier in the year, the pace of price growth has eased. As of November, the unadjusted benchmark price was $454,200, nearly seven per cent higher than last year. Year-to-date average benchmark prices have improved by nearly 15 per cent. Row prices in the City Centre were the highest at $620,000, while the North East and East districts were the only areas to report benchmark prices below $400,000.

Apartment Condominium

Sales in November slowed over last year's record high. However, the 429 sales were still 47 per cent higher than long-term trends. New listings for apartment-style units have been on the rise. With 1,482 units available in November, more supply is available now than during the spring, and it is the only sector to see levels rise above long-term trends for the month.

The additional supply caused the months of supply to push above three months and is taking some of the pressure off home prices. As of November, the unadjusted benchmark price was $337,800, down over last month, but still nine per cent higher than last year. Supply has improved for units priced above $200,000, but most gains have been in the $300,000 to $500,000 range.   

For more information, please contact:

Economic Analysis
Email: stats@creb.ca
Phone: 403-263-0530

Calgary, Alberta, December 2, 2024 – As we transition into winter, Calgary's housing market is following typical seasonal trends, with activity slowing compared to the fall. However, year-over-year demand remains relatively strong. In November, increased sales in detached, semi-detached, and row homes offset a decline in apartment condominium sales. The 1,797 sales for November mirrored last year’s levels and remained 20 per cent above long-term trends for the month.

The significant shift lies in supply. Inventory levels rose to 4,352 units in November, a notable increase from the 3,000 units reported last year. Despite the recent gains, inventory levels remain below long-term trends for the month.

“Housing supply has been a challenge over the past several years due to the sudden rise in population,” said Ann-Marie Lurie, Chief Economist at CREB®. “Rising new home construction has bolstered supply in rental, new home and resales ownership markets. However, supply improvements vary significantly by location, price range, and property type.”

The months of supply have increased to over two months, representing a shift away from the extremely low levels seen earlier this year and in the past three Novembers, which reported under two months of supply. While these more balanced conditions are promising for potential buyers, many market segments still favour sellers.

Improved supply options have tempered the pace of price growth. Year-over-year gains range from nearly seven per cent for row homes to nine per cent for apartment-style units. The total residential benchmark price reached $587,900, reflecting a year-over-year increase of just under four per cent. This slower growth reflects a shift toward more affordable row and apartment-style units. Seasonally adjusted prices have remained stable over the past four months despite unadjusted prices trending down in line with seasonal patterns.

Detached
Rising sales for homes above $600,000 offset the declines in the lower price ranges caused by limited supply choice. While inventory levels did improve, 85 per cent of the supply was priced above $600,000.  Improving supply caused the months of supply to push above two months in November, with higher months of supply reported for homes priced above $700,000 and less than two months of supply for homes priced below that level. This variation within the market is likely to result in different price pressures.

The unadjusted detached benchmark price was $750,100, slightly lower than last month but over seven per cent higher than prices reported last year at this time. Year-over-year gains have ranged across the city, with slower growth reported in areas with the most competition from newer homes.   

Semi-Detached
There were 173 sales in November, an improvement over last year and contributing to the year-to-date growth of nearly five per cent. This was possible thanks to gains in new listings and higher supply levels. With two months of supply, conditions are not as tight as earlier in the year but still favour the seller, especially for properties priced below $700,000.

As of November, the unadjusted benchmark price was $675,100, nearly eight per cent higher than last November. The pace of price growth has eased over the past several months, primarily due to seasonal factors. Benchmark prices ranged from $926,800 in the City Centre district to $409,300 in the East district of the city. 

Row

Row home sales improved in November compared to last year, contributing to nearly three per cent of year-to-date gains. Sales have remained exceptionally strong over the past three years as purchasers seek more affordable options. At the same time, new listings have also improved relative to sales, supporting year-over-year gains in inventory levels. Despite inventory improvements, conditions remained relatively tight with nearly two months of supply. 

Following steep gains earlier in the year, the pace of price growth has eased. As of November, the unadjusted benchmark price was $454,200, nearly seven per cent higher than last year. Year-to-date average benchmark prices have improved by nearly 15 per cent. Row prices in the City Centre were the highest at $620,000, while the North East and East districts were the only areas to report benchmark prices below $400,000.

Apartment Condominium

Sales in November slowed over last year's record high. However, the 429 sales were still 47 per cent higher than long-term trends. New listings for apartment-style units have been on the rise. With 1,482 units available in November, more supply is available now than during the spring, and it is the only sector to see levels rise above long-term trends for the month.

The additional supply caused the months of supply to push above three months and is taking some of the pressure off home prices. As of November, the unadjusted benchmark price was $337,800, down over last month, but still nine per cent higher than last year. Supply has improved for units priced above $200,000, but most gains have been in the $300,000 to $500,000 range.   

REGIONAL MARKET FACTS

Airdrie
With 344 units available, Supply in Airdrie is returning to levels more consistent with activity reported prior to 2020. Supply levels have improved across all property types, with detached and row-style properties accounting for 84 per cent of the supply. While sales have remained strong relative to long-term trends, recent gains in new listings helped support improvements in supply levels.

Improved supply choice is taking some of the pressure off home prices. In November, the total residential benchmark price was $543,300, four per cent higher than last November. Apartment-style properties reported the largest year-over-year change at nearly 16 per cent. 

Cochrane

New listings in the town reached a record high for November. The rise in new listings was met with a surge in sales, as November sales were amongst the highest levels reported in November. Much of the growth in sales was driven by detached activity. Strong sales activity prevented a significant shift in inventory levels, which remain 18 per cent below the month's long-term trends.

The pace of price growth has eased over the past few months, which is not uncommon for this time of year. As of November, the unadjusted benchmark price was $568,600, nearly four per cent higher than levels reported last year at this time. While prices grew across all property types, the largest price gains were reported for apartment-style homes.

Okotoks

Unlike other centres, Okotoks reported a pullback in new listings to 47 units this month. At the same time, there were 52 sales, preventing any significant change to the low inventory situation in the area. Okotoks has struggled with supply since the end of 2020, keeping the months of supply low below two months throughout most of that time. 

In November, the unadjusted benchmark price was $624,000, six per cent higher than last year's levels. Prices have improved across all property types, with the largest gains occurring for row-style properties. Detached prices have also been on the rise and, in November, pushed up to $707,300. 

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

For more information, please contact:

Economic Analysis
Email: stats@creb.ca
Phone: 403-263-0530

So you are about to list your Calgary home and you think you have it right. We have given you our advice and some complimentary staging options, then you start to second guess, what the potential buyers will like or dislike this or that!. But this is where you have to relax because part of our service is to take away anxiety, and selling your home should not be stressful.

They are viewing because it is in their price range.

So usually they are ok with the price range or they would not see the value in your home and their realtor would not be showing it to them. Remember first impressions, the home has to have good curb appeal, grass cut and weed wacked, front door and entrance washed down and sparkling clean.

Is the Front Door Clean

If they have a negative at the front door, such as lack of TLC - it will follow them through the home and everything they look at! Blinds up for showings, remember it’s show time! Light and space is what most buyers like, and you already de-cluttered didn’t you?

Tick the Boxes:

They begin the walk-through and hopefully start to tick the boxes. Flooring, appliances, open concept. The floors look good and the job you did on cleaning the house is paying off. Nobody likes someone else’s dirt.

Projects:

Most people don’t mind one maybe two projects especially if they are cosmetic, but don’t have the “they can fix it attitude” because you are setting yourself up for a low ball offer.

Organised:

Features that help keep them organised are important to many Calgary home buyers. Having a laundry room where they can keep laundry out of sight in a separate room is good. In a recent survey 90% of those surveyed said it was a huge plus. An astounding 57% said they would be unlikely to buy a home without it.

Entertaining

They will picture their family and friends visiting, have they got the space, is there some outdoor living,  where is the BBQ going to be set up..

Efficiency:

A top priority for many buyers is the energy efficiency of the home, insulation, how are the windows, have the furnaces been maintained, and a bonus is if the home is energy-star rated.

Location:

Will the home work for them as the kids grow up, school location, travel time to work (check busy times of the day), is it close to the LRT, where is little Johnnies hockey club compared to the home location. These points you have to consider and can be a big plus or minus.

Storage

Ninety percent of buyers are looking for a linen closet in their bathrooms to help keep towels and toiletries organised. Is there a walk-in pantry off the kitchen, considered  desirable by 85% of respondents. 

The Garage

Garage space for storage of bikes, lawn care and sports equipment is high on a buyers wish list.  And the big one - will the cars/truck fit!

When buying or selling a home there are many features to consider of being the  "Top of Mind" of home buyers. 

Text/Call:  Stewart:  403-850-0669 E: Info@CalgaryDreamHomes.com

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As we age, the space we occupy starts to shrink. Downsizing is a roller-coaster of memories

* Ask about our access to a team who can help you downsize furniture etc either by selling it for you or donating some of it to charity, and helping with a stress free move. The homes below have age restrictions but if you want us to search for non-age restricted homes, please call/email.

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The space is great but there are a couple of other things to keep in mind. Also you have to consider possible drawbacks associated with living further away from the City and amenities. If you have teenagers, consider. 

Remember it is a trade-off for the Country Life, You don't want to end up being an Uber for your teenagers, and when they learn to drive, make sure the roads around your acreage are well lit in the winter months. It has to be said that during a snowy winter both Municipalities are really good at clearing roads, especially on School Routes.  

Here are 7 things to consider when buying a rural property, so you can weigh the costs and benefits of investing in the countryside before you move forward. 

1. Logistics

Always consider the logistics for everyone in the family. Mom and dads work location for sure. But also schools and colleges if you have children. Consider the pick up and drop offs for Hockey, Rugby etc, after school and before they learn to drive. They grow up, so it won't be forever, but it needs to be considered.

2. Road Access

Year-round road access and maintenance are things to pay attention to when investing in a rural property. Especially in the winter months with our snowfalls, but both Rural Rocky View County and Foothills County are excellent at clearing the roads, and school routes take priority. 

3. Garbage Collection 

Garbage pick-up is no big deal on a rural property, most owners use a twice monthly pick up company and leave the bags on a scheduled day at the end of the drive. You also have the option to take it to the refuse dump yourself. Maybe burn it yourself in the yard, and in older homes you may have kitchen compactors, which come in very useful.   

4. Water Supply

Your water source is important,  you may be on a water coop or have your own water well, which will need to be serviced annually. Osmosis filters can be added to main supplies also, and in some cases you may be lucky enough to be connected to municipal water source. 

5. Septic Systems

Sewage and water waste in the country are much different than in a suburb or city. If you are building you will have the added cost of putting your own in. This may be a holding tank or tank and field, remember to chose a septic system big enough for your house and the subsequent amount of occupants.  

6. Energy Lines

Power lines and backup energy are things to ponder when looking at a rural property, but in Calgary and Area not many places have them above ground, power services here are pretty good, but you can still consider a power generator if the power lines get damaged given that you’ll be one of the last areas served for repairs.   

7. Your Neighbours

Your neighbours may be a fair distance away compared to the city. Look hard though at how they keep their property, what animals if any, they may have. Always be aware of your boundary lines and understand your property rights. 

Acreage living is certainly a different lifestyle, it does not work for everyone. But if you dream of the peace, quiet and relaxation, this could be perfect for you.

Sometimes finding the right rural property can take longer to find. You may consider a 2 acre property surrounded by similar sized homes a bit closer to the city, or go our further to get a bigger acreage.

Rural acreages can be a different buying process, but as always, we are here to help.

Questions Direct : Stewart 403-850-0669