City of Calgary Monthly Statistics
Market Trend Summary
Residential sales totalled 2,162 in September, nearing the record high for the month previously recorded in 2005. Further gains in new listings likely supported some of the sales growth that occurred this month. While sales activity in the fall tends to be slower than in the spring months, the continued strong sales are likely driven by consumers unable to transact earlier in the year when supply levels had not yet adjusted to demand. The market continues to favour the seller, but conditions are not as tight as earlier this year.
Inventory levels in September eased to 5,607 units, keeping the months of supply below three months. However, there is significant variation depending on property type and the tightest conditions continue to be in the detached market, with under two months of supply. At the same time, the apartment condominium sector is not facing the same level of supply challenges, with nearly five months of inventory available based on current demand levels.
Supply adjustments have helped ease the upward pressure on home prices. Prices have eased slightly relative to a few months ago, but they remain well above levels recorded earlier in the year. As of September, the total residential benchmark price in Calgary was $457,900, over eight per cent higher than levels recorded last year.