Calgary Inventory Tightens Daily Amidst Seasonal Shifts
THE DAILY PULSE
Calgary's market today revealed a powerful imbalance, with daily sales of 29 significantly outpacing just 14 new listings. This immediate dynamic tightens the active inventory, which currently registers at 5,625 units, confirming persistent demand. Despite typical seasonal slowdowns in overall activity as winter nears, today's specific sales-to-listing ratio underscores an aggressive seller's environment for newly listed properties. Buyers must prepare for swift decisions and potentially competitive offers, as desirable homes are quickly absorbed.
MONTHLY TRENDS
Zooming out, November's total activity reflected a more balanced picture. The month saw 1,553 sales against 2,254 new listings, indicating new inventory outpaced sales and provided buyers with more selection. The average price for November settled at $615,986, showing moderation from earlier peak price points and aligning with conditions where supply improved, particularly in apartment and row-style homes. Sellers must now strategically price their properties and prioritize presentation to stand out in a market with growing options and a more discerning buyer pool.
YEAR-OVER-YEAR CONTEXT
Calgary's market maintains a robust long-term trajectory, evidenced by 21,667 total sales recorded year-to-date. The year-to-date average price stands firm at $629,497. With Canada's 5-year conventional mortgage rates holding stable but elevated at 6.09%, and the Bank of Canada widely expected to maintain rates in December, this offers a period of relative predictability. Bolstered by strong population growth and new federal/provincial initiatives aimed at housing supply, the underlying market fundamentals remain strong. Buyers can enter the market with confidence, knowing Calgary offers solid long-term value, even as immediate price movements stabilize.
