Another record-high month for Calgary
City of Calgary, July 4, 2023 – The housing market in Calgary witnessed a surge in
apartment condominium sales, setting a new total residential record with 3,146 sales
achieved in June. Although year-to-date sales are currently 23 percent lower than last
year, they remain significantly higher than pre-pandemic levels. Notably, there has
been a positive trend in new listings, providing relief and a monthly increase in
inventory levels. However, despite these improvements, the inventory for June stood at
3,458 units, marking a decline of over 36 percent from last year and reaching the
lowest levels for June in nearly two decades.
“The demand for housing remains robust, bolstered by a healthy labour market and
increased migration levels, which helps offset the impact of higher lending rates,” said
CREB® Chief Economist Ann-Marie Lurie. “Although we have seen some recent
improvements in new listings, particularly for apartment condominiums, it is not
enough to cause any substantial change from the low inventory situation in our city.
While new home starts are on the rise, it will take time to observe their impact on
With a supply of just over one month, the current market conditions continue to favour
sellers, placing upward pressure on home prices. In June, the total residential
benchmark price reached $564,700, representing a monthly unadjusted gain of one
percent and four percent higher than last year’s levels.
Don’t forget if you need to Buy or sell a Home? I will take care of it. Contact Walter Saccomani (403)903-5395 and let’s talk.