🏡 July 2024 Calgary Real Estate Market update.
📈 With the busy spring market behind us, we are starting to see more inventory - still 33 per cent below what we typically see in July, but the first time they have pushed above 4,000 units in nearly two years.
📈 Although the majority of supply growth occurred for homes priced above $600,000, the rise has helped shift the market away from the extreme sellers’ market conditions experienced throughout the spring. “While we are still dealing with supply challenges, especially for lower-priced homes, more options in both the new home and resale market have helped take some of the upward pressure off home prices this month,” said Ann-Marie Lurie, Chief Economist at CREB®.
📈 July sales eased by 10 per cent over last year's record high but were still higher than long term trends for the month. Improved supply helped slow the pace of monthly price growth for each property type.
*Data source: CREB Calgary Real Estate Board monthly statistics.
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