Calgary Housing Market: Steady Pulse Amid Shifting Numbers

Calgary's housing market is buzzing with upward momentum, seeing robust sales and steady price appreciation.

The market saw considerable action on Tuesday, November 4. Daily sales reached 55, with 96 new listings adding fresh inventory. For those unfamiliar with the lingo, the median price, which is the exact middle of all sales, sat at $533,000, while the average price, the total sales value divided by the number of sales, was $615,360. Active listings, or homes currently available, hovered at 6,420. Over the last month, sales totaled 172, a clear uptick from previous weeks, maintaining a healthy average price of $580,265. Year-to-date, sales have climbed to 20,288, and the median price has stabilized at $578,000.

This spirited activity is largely fueled by Calgary’s rapid population growth, drawing newcomers from across Canada with promises of job opportunities, lower taxes, and a high quality of life compared to more expensive markets like Vancouver or Toronto. The city's expanding economy, moving beyond traditional energy into technology and renewables, also plays a significant role in attracting new residents.

For potential BUYERS: Competition remains strong, particularly in affordable segments. Getting pre-approved for a mortgage is essential to move quickly. While Calgary offers relative affordability, a significant income is often required for detached homes. Consider condos or townhouses for better entry points, and explore programs like Attainable Homes or the First Home Savings Account (FHSA) to boost your down payment. Future easing of interest rates, as predicted for 2025, could further stimulate demand.

For potential SELLERS: Your property is likely to be in high demand. Though new construction is helping to balance supply, well-presented and strategically priced homes will continue to perform strongly. Now is an opportune moment to highlight your home’s best features.