RSS

JANUARY 2022 CALGARY AND REGION REAL ESTATE MARKET REPORTS

JANUARY 2022 CALGARY AND REGION REAL ESTATE MARKET REPORTS

January 2022 CREB City of Calgary real estate starts are in.


We saw a month filled with low inventory on detached and semi-detached homes causing many sales to go into competing offers, pushing the average price of detached homes from $559,202 last January to $624,161 this January.


City of Calgary, February 1, 2022 - Thanks to persistently strong sales, inventory levels were the lowest levels seen since 2006. This caused the months of supply to remain exceptionally low for this time of year at 1.3 months. The tight market conditions contributed to further upward pressure on prices. The unadjusted benchmark price in January reached $472,300, a monthly gain of nearly two per cent and a year-over-year gain of 12 per cent. “Expected gains in lending rates are contributing to persistently strong demand in the housing market, as purchasers are eager to get ahead of any increases,” said CREB® Chief Economist Ann-Marie Lurie. “We did see more listings this month, but it did little to change the market balance or take any pressure off prices. This was expected, as these conditions should persist for several more months.” There were 2,009 sales in January, well below record levels, but over 98 per cent higher than long-term trends. At the same time, 2,476 new listings came onto the market, resulting in a sales-to-new-listings ratio of 81 per cent. This is far higher than levels traditionally recorded in January.


January 2022 CREB Calgary Real Estate Full Report

Comments:

No comments

Post Your Comment:

Your email will not be published
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.