🏡 Population growth in recent years has supported sales activity that continues to exceed historical trends. While December's inventory remained below typical levels for the month, it was slightly above last December. Increased rental options and significant growth in new home construction contributed to higher new listings in the resale market, boosting inventory during the second half of the year.
Although market conditions vary by price range and property type, the expanded housing options have eased some of the pressure on home prices, which stabilized in the latter half of the year following sharp increases in the spring. Overall, residential benchmark prices increased by over 7% on an annual basis.
🏡 As we enter 2025, supply is expected to remain a key focus. However, the impact on prices will largely depend on the type of housing being added and how demand evolves in response to shifts in the economic environment.
🏡 Give me a call or DM if you would like to know what your home is worth in this changing market
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Data sourced from the CREB Calgary Real Estate Board
DECEMBER 2024 CALGARY AND REGION REAL ESTATE MARKET REPORTS
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