Calgary Inventory Expands, Higher-End Prices Hold Firm
THE DAILY PULSE
Calgary’s real estate market kicked off December revealing expanding supply. On December 1st, 61 new listings outpaced 35 total sales, increasing active inventory to 5,570 units. This daily influx signals more buyer choice. Despite the inventory growth, the Current Daily Average Price surged to $814,161, reflecting strong activity in higher-end properties.
Implication: Buyers gain leverage with expanded selection, while sellers must strategically price to ensure timely offers.
MONTHLY TRENDS
December's opening figures reflect a broader trend: inventory expanded by a substantial 28.2% year-over-year in November, reaching 5,581 homes and exceeding typical levels by 15%. This ongoing supply growth characterizes a market moving towards balance. While the current average price of $814,161 remains elevated, it contrasts with the year-to-date average of $629,795, highlighting market volatility and concentration in premium segments.
Implication: Sellers considering listing soon should price competitively, as increasing inventory offers buyers more time and options, potentially leading to fewer bidding wars.
YEAR-OVER-YEAR CONTEXT
The year-over-year context reveals a cooling market, with November’s residential benchmark price decreasing 4.6% to $559,000. Despite robust year-to-date sales reaching 21,702 units and sustained population growth, elevated mortgage rates, lingering between 4.39% and 6.09%, continue to temper affordability and buyer urgency. The market narrative suggests a gradual return to more balanced conditions, with inventory providing increased choice.
Implication: Buyers should leverage the expanding selection and stabilizing prices, conducting thorough due diligence to secure long-term value in a moderating market.
