Real Estate Report: Calgary Daily Sales Outpace New Listings Amidst Seasonal Lull
We’re hearing that Calgary homes are selling fast, even in the holiday season. With more high-value properties being snapped up, it’s a good time to keep an eye on the market if you’re buying or selling.
THE DAILY PULSE
- Daily Sales: 28
- New Listings: 18
- Net Inventory Change: -10 units (Inventory tightened)
Today's average price of $630,116 is notably higher than the month-to-date average of $606,723, suggesting a mix of higher-value properties among today's sales rather than a broad market price shift. This daily activity draws from a current active inventory of 4,458 units.
Implication: For buyers in the market today, this slight daily inventory tightening indicates that well-priced homes are still attracting offers quickly, even during the holiday season. Act decisively on desirable properties.
MONTHLY TRENDS
- Month-to-Date Sales (by Dec 24): 999
- Month-to-Date New Listings (by Dec 24): 1,116
- Current Total Active Inventory (Dec 25): 4,458 units
While daily activity shows sales outperforming new listings, the month-to-date figures reveal that 1,116 new listings have entered the market against 999 sales by December 24th. This, combined with a current active inventory of 4,458 units, points to a gradual increase in overall selection for buyers as the market settles into its seasonal lull.
Implication: Sellers should understand that while demand persists, the overall inventory trend suggests increasing choice for buyers. Competitive pricing and strategic presentation are crucial to stand out in a market gradually tilting towards balance. For properties on the market now, consider incentives or price adjustments to capture year-end buyer motivation.
THE BIGGER PICTURE (YoY)
Reflecting broader market shifts, November data indicates a significant 13.6% year-over-year decline in sales and a substantial 28% increase in inventory compared to last year. This elevated supply has pushed the market towards more balanced conditions, with months of supply now at 3.6. The year-to-date average price stands at $628,521, reflecting underlying stability despite recent shifts.
Canada's 5-year conventional mortgage rate remains stable this week at 6.09%, with the Bank of Canada holding its rates steady. While builder confidence remains low due to high costs and weak demand, new home construction is largely driven by the multi-unit segment, with single-family starts showing signs of slowing due to rising resale inventory.
Implication: For strategic buyers, the current stability in mortgage rates offers a predictable financing environment. The year-over-year increase in inventory, particularly in the apartment condominium segment, presents a strategic window to secure properties with more negotiating leverage. While the year-to-date average price has remained relatively stable, the shift towards a 'Transition to Buyer-Leaning Balance' suggests that patience and thorough market research could yield significant long-term value, especially as Calgary's robust population growth continues to underpin demand.
