Calgary Real Estate Report: Calgary Housing: Inventory Avalanche Buries Sellers as Supply Crushes Demand

THE DAILY PULSE

• Daily Sales: 63
• New Listings: 97
• Net Inventory Change: Inventory Growing (+34)
• Today's Average Price: $561,191

The Vibe Check: Today's average price of $561,191 sits $17,945 below the February month-to-date average of $579,136. The action is NOT happening in the luxury bracket—this is bargain-bin velocity. Buyers are hunting in the sub-$600K trenches, and sellers holding onto 2024 price expectations are getting left behind.

The Move: If you're buying entry-level or mid-market, you have ammunition. Sellers are watching 34 new competitors hit the field TODAY while only 63 properties moved. That's a 2:1 supply-to-demand ratio. Translation: Make your offer, but don't get cute—lowball with confidence, because the seller's next offer might not come for weeks.

MONTHLY TRENDS

• Month-to-Date Sales: 187 (124 + 63)
• Month-to-Date New Listings: 311 (214 + 97)
• Total Active Inventory: 4,456

The Friction: New listings are crushing sales at a 311:187 ratio this month. That's a 66% surplus of inventory flooding the gates. Sellers are losing pricing power by the hour. We're sitting at 4,456 active listings—the highest January inventory level since 2020. This isn't a "balanced market." This is a slow-motion avalanche burying sellers who aren't the sharpest price on the block.

Tactical Advice for Sellers: You are NOT the only house for sale anymore. If you aren't priced $10K-$20K below your neighbor, you're just decoration. The bidding war era is dead. Price aggressively NOW, or watch your listing go stale while 311 fresh competitors steal your spotlight. February doesn't wait for sentiment—it waits for deals.

THE BIGGER PICTURE (YoY)

The Context: Year-over-year, Calgary's inventory exploded 20.6% higher to 4,391 homes in January—the highest since 2020. Sales dropped 15% compared to last year, and the residential Benchmark Price fell 4.7% to $554,400. Higher-density housing (condos, townhouses) took the biggest hit. The Bank of Canada held rates steady, so financing costs aren't adding fuel—this is pure supply-and-demand physics. Migration into Calgary is slowing, rental vacancies jumped from 1.4% to 4.6%, and housing starts are at record highs. The urgency that defined 2023-2024 is gone.

The Outlook: Calgary's real estate war room is shifting command. Buyers now hold the high ground with 4,456 properties to choose from and sellers scrambling to stand out. If you're a buyer, this is your window—negotiate hard. If you're a seller clinging to last year's prices, the market is about to teach you a lesson in gravity.

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