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Calgary’s August Real Estate sales totalled 2,186, ↓ 19.5% decrease compared to the previous year. New listings in August reached 3,536, marking ↑ 13% yearly increase, easing market pressure.

Calgary’s market shifted from a seller’s market with more inventory and fewer sales in August. August saw inventory at 4,487 units, ↑ 37.3% yearly, but low compared to long-term trends.

Calgary is demolishing three vacant downtown buildings to create much-needed affordable housing. A new 33-storey mixed-use tower will offer 340 rental units, including 50 affordable housing units.

Steady Value Increase: Since 2018, Calgary’s single-family homes rose 38% in price per square foot, condos 27%.Affordable Market: Calgary remains more affordable than cities like Toronto and Vancouver, attracting out-of-town buyers.

The Bank of Canada’s rate cuts have yet to significantly lift housing markets from their slump. In August, Calgary saw a 13% increase in new listings compared to a year ago.

Detached home prices in Okotoks have surged to ~$705K, nearing Calgary's high prices. Benchmark prices for all properties in Okotoks have risen to ~$623K, surpassing Calgary’s by $20K.

Calgary housing market saw a 19.5% drop yearly in sales in Mid-Q3, signalling a slowdown.New listings fell slightly, increasing the months of supply to 2.05, indicating a shift to balanced conditions.

Property prices in Calgary are expected to increase by 3% through the remainder of 2024. Calgary is a seller’s market, which is expected to persist into the fall.