🏡 Calgary Real Estate Market Update – October
📉 Inventory Eases
October brought a slight easing in housing inventory. With fewer new listings and more sales, months of supply dropped to 3.5 months (down from 4 in September).
🏠 Balanced Market for Homes
Detached and semi-detached properties remain relatively balanced, while row- and apartment-style homes continue to have higher supply than demand.
📊 Year-to-Date Sales
Calgary has seen 20,082 home sales, down nearly 16% from last year — mostly due to lower activity in row- and apartment-style homes.
💬 Market Insight
“Increased rental availability and easing rents have slowed ownership demand for apartment- and row-style homes,” says Ann-Marie Lurie, CREB®’s Chief Economist. “These segments are also seeing record-high October inventories, which is putting downward pressure on prices.”
💰 Prices
As of October, the benchmark price for all homes in Calgary was $568,000, down slightly from last month and just over 4% lower than last year. Row- and apartment-style homes saw the biggest drops: 6% and 7%, respectively.
To read the full stats release on October’s housing market for Calgary and surrounding areas, click here.