In February, low inventory and high demand continued to push prices up in Calgary. Despite a rise in new listings, sales increased by almost 23%, keeping the sales-to-new-listings ratio at 79%, maintaining inventories at historic lows. The tight supply and increased sales led to the months of supply falling to just over one month, resembling levels seen last spring. Ann-Marie Lurie, Chief Economist at CREB®, noted that strong demand and low supply are driving price gains, particularly for homes under $500,000, which saw inventories drop by 31%. Higher-priced homes are seeing rising supply, leading to more balanced conditions in that segment. The East district saw the highest year-over-year price growth at 25%, while the City Centre reported the slowest growth at under five percent.
*Data sourced from CREB (Calgary Real Estate Board)
February 2024 CREB Calgary Real Estate Full Report
February 2024 CREB Calgary REGION Real Estate Full Report
Comments:
Post Your Comment: