Every month the Calgary Real Estate Board releases a report detailing what has been happening in the real estate market. These reports provide valuable information to sellers, buyers, and investors alike. Real estate requires strategic decision making, so staying informed is crucial to ensure you are making the best moves possible.
Here are the highlights from The The Calgary Real Estate Board's market report for December 2024, which you can read in full by clicking here:
- "The year ended with 1,322 sales in December, a three per cent decline over last year, but nearly 20 per cent higher than long-term trends. " (CREB).
- "As of December, there were 2,989 units available in inventory" (CREB).
- "While conditions vary depending on price range and property type, more housing options have helped to take some of the pressure off home prices" (CREB).
- "As we move into 2025, supply will continue to be a dominant theme. However, how they impact prices will ultimately depend on the type of supply being added and how demand holds up in the face of a changing economic climate" (CREB).
Calgary Real Estate Board Chief Economist Ann-Marie Lurie notes, "Population gains over the past several years have supported sales activity that has outperformed long-term trends. In 2024, sales would likely have been higher if there was more supply choice, especially in the lower price ranges. That being said, we did start to see shifts occurring in the market in the second half of the year as supply levels started to improve for higher priced homes.”
Are you ready to make your move? Contact Ken Richter directly today at 403-630-6363 or email Ken@KenRichter.com. In every market, Ken's experience is your advantage.
(Image via Canva)