Dec 31, 2023. How’s the Market for Calgary Real Estate?
Calgary Home Sales in Dec 2023 are pretty close to Calgary Home Sales in 2022. Supply continues to be low. Month-End Active Listings are slightly lower than December 2022. Overall, home sales are up slightly. Home Prices react to the number of active listings vs sales. Low supply sees rising prices.
The Calgary Housing Market favours sellers now and in the near future. People just don’t sell as often as they used to. When people buy these days, they usually do a lot of research and don’t settle for less than what they want. And people don’t part easily with things they want. Many homes will never be offered for sale again in your lifetime. Interest rates and mortgages are another reason people stay with homes longer these days. Renewing a mortgage is much easier than moving. The other big reason for low resale is the number of individuals buying rental properties. I’m not talking about people buying several rental properties, but people buying at least one other property after their primary home.
Everybody should own at least two homes. One to live in and one as an investment. That has been my mantra since I became a licenced real estate agent in Calgary many years ago. Most of my clients have taken that route with great results. Owning one home where you pay the mortgage and another where someone else pays the mortgage is a winning formula.
The Calgary Home Sales Charts below reveal a lot of information on where the market has been recently. The main chart shows the ebb and flow of sales and listings. One glance clearly tells us that sellers have the advantage over home buyers. And that trend looks to continue for a while. The top right of the chart shows us the daily average sales. This is the speed of the market. It’s easy to see when home sales speed up and slow down. The bottom right of the chart is the percentage of sales vs month-end listings. In previous Calgary Home Buyers Markets this number drops down to about 35%. So you can see here that Calgary Sellers are well entrenched for now.
These charts have no opinion on the market. They are simply numbers. It’s just math. A quick glance at these charts lets you avoid media misinformation and other misguided opinions. The numbers don’t lie!
Contact Us If You Are Planning to Buy or Sell Calgary Real Estate in 2024
Contact Us If You Are Planning to Buy or Sell Calgary Real Estate in 2024
Contact Us If You Are Planning to Buy or Sell Calgary Real Estate in 2024
Contact Us If You Are Planning to Buy or Sell Calgary Real Estate in 2024