In January of last year, there were 1,267 fewer homes for sale in Calgary representing a -31.8% reduction in listings from the 3,989 we had to start 2012.
This year, there are even fewer homes for buyers to browse. There were a total of 2,236 active listings to begin the month, down a further -17.9% from last January.
Single family home inventory is at the lowest level to begin a year since 2006 and second lowest in a decade.
While listings increased throughout the spring and into the summer, Calgary inventory remained well below levels seen in previous years.
Calgary’s two largest neighbors, Airdrie & Okotoks, are also experiencing multi-year lows in active listings.
The low supply obviously favors sellers. Will buyer demand carry over into 2014? Check back on January 8th for a review of the first week of market activity.