Market Updates | Page #3

Market Updates

2022 was a wild year for Calgary real estate from start to finish. The Calgary Real Estate Board writes, “2022 saw record-high sales and double-digit price growth.” In their report they detailed more highlights from the last month in the year, December. Here are some quick facts from the report, which you can read in full by clicking here:

  • "Slowing sales over the second half of 2022 were not enough to offset earlier gains as sales reached a record high of 29,672 units in 2022" (Calgary Real Estate Board)
  • "As of December, there were 2,214 units available in Inventory, making it the lowest level of inventory reported for December in over a decade." (Calgary Real Estate Board)
  • "Benchmark prices eased to $518,800 in December, down nearly five…

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Here at Team Ken Richter we are proud members of RE/MAX Real Estate (Central). Being part of the RE/MAX team is an honour, and we are proud to see the continued growth of this incredible company. 

In their statement summarizing growth from 2022 and plans for 2023, RE/MAX offered the following exciting update: 

"This year RE/MAX continued to lead the industry in many ways, and we have a lot to be proud of. RE/MAX has the largest network of brokers and agents across Canada. With 25,000+ agents including Quebec, RE/MAX is home to the most trusted* and most experienced agents and teams in the industry, and has some of the most successful Broker/Owners in the country who have managed to recruit 800+ agents this year alone. Our brand presence reached…

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The highlight from the Calgary Real Estate Board's market analysis for November 2022? "2022 [is] on track to be a record year for real estate" (Calgary Real Estate Board). This should come as no surprise to those who have been following market trends this past year and stayed informed on what has been going on. The informed buyers, sellers, and investors have been successful, reaping the rewards of one wild year of real estate!

Here is what else the Calgary Real Estate Board had to say in their most recent report:

  • "Residential sales in the city slowed to 1,648 units" (Calgary Real Estate Board)
  • However, "year-to-date sales remain nearly 10 per cent above last year’s record high. The year-to-date sales growth has been driven by a surge in…

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The Calgary Real Estate Board has released its market statistics update summarizing what happed last month. This is such good information to have, so here are some of the highlights:

  •  "1,857 sales this month."
  • "Year-to-date sales have reached 26,823 and with only two months to go, 2022 will likely post a record year in terms of sales."
  • "New listings also trended down this month... Much of the inventory decline has been driven by product priced below $500,000."
  • "With only two months of supply, conditions remain tighter than historical levels. We are also seeing divergent trends in the market with conditions continuing to favour the seller in the lower-price ranges and shifting to more balanced conditions in the upper-price ranges."
  • …

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What a wild ride Calgary Real Estate has been for the past year. Now, more than ever, it is important for all buyers, sellers and investors to stay informed! Knowledge is your greatest asset, and Team Ken Richter is here to support you every step of the way.

The Calgary Real Estate Board has released its monthly market update, capturing the trends observed in September. The big highlight of their report is that as we come to the end of the final quarter, the Calgary real estate market has been leveling back to much more normal conditions. A seller’s market remains, but the type of home people are looking for has shifted. Interest in larger detached homes is easing as buyers seek more affordable options amidst rising interest rates and inflation.

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It was another busy month in Calgary Real Estate! The Calgary Real Estate Board has released it's monthly summary of what happened in the market, which is an excellent resource for buyers, sellers and investors. Read the highlights of the August 2022 Calgary Real Estate report below: 

  • "...there continues to be a shift towards more affordable options as the year-over-year pullback in detached sales was nearly matched by gains for multi-family product types."
  • "... new listings continue to trend down, preventing any supply gains or a substantial shift in the months of supply."
  • "The months of supply in August remained at just above two months, not at tight as earlier in the year, but still below levels traditionally seen this time of year."
    • …

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The stats are in! Here are the highlights from the Calgary Real Estate Board's latest report:

  • "Significant slowdowns in the detached and semi-detached market were nearly offset by sales growth in the apartment and row sectors." (CREB®)
  • "Listings for homes priced below $500,000 fell by 18 per cent, while levels rose by 20 per cent for homes priced above $500,000." (CREB®)
  • "With just over two months of supply, the market remains far tighter than anything experienced throughout the recessionary period experienced prior to the pandemic." (CREB®)
  • "As expected, the benchmark price did see some slippage relative to levels seen earlier in the year and rising lending rates have cooled much of the bidding war activity that was driving significant…

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The big headline for this market report from The Calgary Real Estate Board? The market is starting to shift as sales slow down. 

If you've been putting off listing your home to take advantage of the sellers market conditions, you need to act now. Contact Team Ken Richter today at 403-630-6363 or email Ken@KenRichter.com. 

Here are the highlights from the Calgary Real Estate Board's report, which you can read in full here: 

  • "Sales activity in June eased relative to the past several months and with 2,842 sales...the decline was driven by a pullback in detached and semi-detached home sales."
  • "This pullback in sales was not met with the same level of pullback in new listings. This caused inventories to trend up over previous months. These…

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We have been excited to bring you positive news from the real estate market for the last year. Calgary has been in such a hot market, it's been more important than ever for buyers, sellers, and investors to stay informed. One of the ways we help you stay knowledgeable is by presenting you with the highlights of the Calgary Real Estate Board's monthly summery.

Without further ado, here are some highlights from their May report, which you can read in full by clicking here:

  • "While activity in the market slowed down in May with 3,071 sales, levels are still slightly higher than last year’s record high and are far stronger than typical levels of activity recorded in May." (The Calgary Real Estate Board)
  • "While inventory remains well below…

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It has been such an exciting season of real estate with the market booming. With so much happening right now, it's important to stay updated and informed. This is a great market to jump into, but extra complex because of how fast-paced it is moving. If you're going to enter the market, you need to have all the facts and be as strategic as possible. This is where the Calgary Real Estate Board comes in. 

The Calgary Real Estate Board is a fantastic resource for learning market trends and projections. Each month they summarize what happened in the real estate market in the month previous, which we also highlight monthly here on our blog. These summaries are a great snapshot for everyone: buyers, sellers, and investors alike! 

You can read the…

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