Citywide Market Update: Home prices in Calgary hit a new record high in April due to low supply and high demand. Sales decreased by 21%, but months of supply has eased to just over one month due to limited supply, resulting in tighter market conditions.

Detached Homes: New listings for detached homes decreased, resulting in a sales-to-new listings ratio of 88% and a tight supply of just over one month. The benchmark price reached a new record high of $661,900, with all districts except the City Centre reporting a new high. The East district saw the largest price gain of 6%.

Semi-Detached Homes: More new listings and sales, but inventory levels decreased, resulting in further price growth. All districts reported a new high price, with the largest gains in the North East and East districts.

Row/Townhomes: Very tight market conditions with strong demand and low inventory resulted in a new record high benchmark price of $387,400, reflecting a 7% gain over last year. The most affordable districts in the North East, East, and South experienced the steepest price growth.

Apartment Condominiums: New listings boosted sales, resulting in a sales-to-new-listings ratio of 77%. The benchmark price reached $299,400, a significant gain over the start of the year and 10% higher than last April. Some districts reported new highs.

Regional Market Facts:

Airdrie: Low inventory levels, close to 100% sales-to-new listings ratio, and limited choice contributed to upward pressure on home prices, which reached $502,000, slightly below the record high of $510,700 in April 2022.

Cochrane: Sales to new listings ratio rose to 98%, and inventory levels favoured the seller, resulting in a benchmark price of $509,600, nearly 2% below last April.

Okotoks: Inventory levels significantly below long-term trends resulted in further upward pressure on home prices, with an unadjusted benchmark price reaching a new record high of $577,300, up almost 5% from last year.