October 2022 Real Estate Market Update

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."
  • "The October benchmark price is still nearly 10 per cent higher than levels reported last year"

Calgary Real Estate Board Chief Economist Ann-Marie Lurie says, "Calgary hasn’t seen the same degree of pullback in housing sales like other parts of Canada, thanks to persistently strong demand for our higher density product. While our city is not immune to the impact that inflation and higher rates are having, strong employment growth, positive migration flows and a stronger commodity market are helping offset some of that impact.”

You can read the report in full by clicking here!

Are you ready to make your move? Team Ken Richter is here to help. Contact us directly by calling 403-630-6363, or emailing Ken@KenRichter.com

Posted by Ken Richter on


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