Calgary Real Estate Report: Calgary Housing: Inventory Surge Flips Power to Buyers
Supply outpaces demand as 4,768 active listings shift market control.
THE 3-SECOND BRIEF
- The Pulse: The Grind (Balanced Market)
- For Buyers: Take your time. Inventory is piling up and sellers are losing their grip on 2024 pricing power.
- For Sellers: Price it right or watch it sit. Bidding wars are extinct—precision beats optimism.
CALGARY — February 17 delivered 68 sales against 73 new listings, a five-unit gap that pushed active inventory to 4,768 units. The market is no longer running hot—it's cooling into balance as supply outpaces demand month after month. For buyers, that means leverage. For sellers clinging to last year's dreams, it means adjusting expectations or decorating MLS indefinitely.
The Daily Numbers
- Daily Sales: 68
- New Listings: 73
- Net Inventory Change: Growing (+5)
- Today's Average Price: $668,264
Today's average price sits 6.5% above the monthly average of $627,223, signaling a stronger mix of higher-value transactions—likely detached homes in premium pockets. The $590,000 median tells the real story: entry-level and mid-range properties are where the action lives, while luxury sales remain sporadic rather than systemic.
Monthly Trends
- Month-to-Date Sales: 933
- Month-to-Date Listings: 1,703
- Total Active Inventory: 4,768
Year-over-year, inventory is up 20.6% from January 2020 levels, with new listings crushing sales at nearly 2-to-1 this month. Population growth has downshifted from 3% to 1.3%, removing the demand engine that fueled bidding frenzies. The Bank of Canada's 2.25% policy rate provides affordability oxygen, but it can't pump life into a market drowning in supply. Calgary remains balanced—for now—but the window for sellers to command premium prices is closing fast.
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