Calgary Home Prices Reach New Heights: July Sees Seventh Consecutive Monthly Gain

Sales and Market Trends

2,647 sales in July, up 18% year-over-year, reflecting the strongest July levels ever recorded. Significant gains in the affordable apartment condominium sector driving the record-setting pace. Despite recent gains, Year-to-date sales are down by 19% compared to last year. Sales and new listings trended down compared to last month, inventory levels remained near record lows. Sales-to-new-listings ratio at 82%, favoring sellers. Unadjusted total residential benchmark price reached $567,700, a 7-month consecutive gain and over 4% higher than the previous peak in May 2022.

Detached Homes

1,197 sales in July, inventory levels trended up over last month, however lowest ever reported inventory for July at 1,720 units. Unadjusted benchmark price rose to $690,500, a monthly gain of nearly 1% and over 7% higher than last July. Strongest price growth in North East and East districts.

Semi-Detached Homes

211 sales and 248 new listings in July, keeping the market in sellers' favor. Unadjusted benchmark price reached $616,800, with strongest monthly gains in North East and East districts, as both rose by over two per cent compared to June.

Row Homes

467 sales and 488 new listings in July, maintaining a sellers' market. Unadjusted benchmark price reached $407,500, nearly 2% higher than last month and 14% higher than prices reported last July. Highest monthly gain in the west district.

Apartment Condominiums

Year-to-date sales up 16% over last year, thanks to recent gains in new listings. Unadjusted benchmark price reached $305,900, a nearly 1% increase from last month and over 12% higher than last July. The city center reported the lowest year-over-year growth at nearly 9%.

Regional Market Facts

Airdrie

Sales-to-new-listings ratio at 84%, indicating tight conditions. Unadjusted benchmark price rose nearly 1% over last month to $514,100. Detached benchmark price has pushed above $600,000 in Airdrie for the first time.

Cochrane

110 new listings and 85 sales. Sales-to-new-listings ratio at 77%. Unadjusted benchmark price reached $529,700, up nearly 1% from last month and over 3% higher than last July. Detached benchmark price now sits at $626,100.

Okotoks

78 new listings and 67 sales. Sales-to-new-listings ratio at 86%. Unadjusted benchmark price reached $586,900, over 7% higher than last year. Detached benchmark prices pushed up to $655,100 in July.