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 percent from the peak price in May but almost eight percent higher than last December. While prices have trended down annually, they remain over 12 percent higher than last year’s levels." (Calgary Real Estate Board)
Calgary Real Estate Board Chief Economist Ann-Marie Lurie adds, "housing market conditions have changed significantly throughout the year, as sales activity slowed following steep rate gains throughout the later part of the year. However, Calgary continues to report activity that is better than levels seen before the pandemic and higher than long-term trends for the city. At the same time, we have faced persistently low inventory levels, which have prevented a more significant adjustment in home prices this year” (Calgary Real Estate Board).
These market conditions make now a great time to sell or buy a home! Are you ready to make your move? Contact Team Ken Richter today at 403-630-6363.