Calgary Home Sales At Highest Level Since 2007

Calgary home sales have surpassed 2013’s year-end total and are on track for the 4th best year on record.

A total of 24,011 properties have sold on MLS® year-to-date, already 2.3% more than the 23,474 sales for all of 2013.   Only 2005, 2006 & 2007 have had more sales (See chart below)

A combination of factors has boosted Calgary real estate sales to the highest level since 2007:

  • Despite prices in the city rising at a faster clip than anywhere else in Canada, low interest rates and high earnings have helped keep affordability in check.
  • Record population growth and net migration due to favorable economic conditions.
  • The combination of low vacancy and high rents has persuaded many tenants to decide it was time to buy.
  • YTD new listings have risen 12% y/y and current inventory levels are 20% higher than a year ago.  Increased selection coupled with continued demand has resulted in more sales
Calgary home sales, Y/Y comparison

Calgary home sales, Y/Y comparison

2 responses to “Calgary Home Sales At Highest Level Since 2007

  1. Hi Mike
    At its housing outlook conference in Calgary this week, CMHC projected sales to reach 33,500 this year, 34,200 in 2015 and 34,800 in 2016.
    The new home market will also break a record with 17,200 new home starts (6,700 single-family and 10,500 multi-family)
    Myke

  2. Hi Myke, thanks for the info.

    Just an FYI to readers, CMHC uses Calgary CMA figures (includes surrounding areas) so they won’t align with the City of Calgary CREB® stats. However, next year CREB® will be adding Calgary CMA as one of the categories.

Please feel free to post your comment or question

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s