Calgary Housing Market:

Residential sales in Calgary reached a record high of 3,146 in June. Year-to-date sales are 23% lower than last year but still significantly higher than pre-pandemic levels. New listings have shown improvement, but overall inventory remains low with a decline of over 36% from last year. The housing demand remains strong due to a healthy labor market and increased migration levels. Low inventory levels favor sellers, resulting in upward pressure on home prices. In June, the total residential benchmark price reached $564,700, a monthly gain of 1% and 4% higher than last year.

Detached Homes:

New listings supported an increase in inventory levels, but levels hit a record low for June. Homes priced below $600,000 experienced the steepest inventory declines. The benchmark price for detached homes reached $685,100, a monthly gain of nearly 2% and a year-over-year increase of 6%.

Semi-Detached Homes:

New listings improved in June, but supply remains tight with just over one month of inventory. The benchmark price reached $613,100, over 2% higher than last month and nearly 6% higher than the previous year.

Row Homes:

Sales and new listings increased, but tight conditions favored sellers, leading to higher prices. The benchmark price reached $400,000, over 2% higher than last month and over 11% higher than last year.

Apartment Condominiums:

Sales in June reached 857 units, 48% higher than last year. Persistently strong demand and limited inventory resulted in a benchmark price of $303,200, nearly 2% higher than last month and 12% higher than last year.

Regional Market Facts

Airdrie:

Slower sales activity due to a pullback in new listings. Airdrie reports further gains in home prices, reaching a new record high benchmark price of $511,100.

Cochrane:

Sales activity eased in June, but levels remain higher than pre-pandemic levels. Low inventory levels and limited new listings contribute to price gains, with a benchmark price of $526,500, nearly two per cent higher than last month’s and last year’s levels, a new record high.

Okotoks:

Sales outpaced new listings, leading to further inventory declines. The benchmark price reached a record high of $585,300, reflecting a 2% gain over last month and 6% higher than last year.