Calgary Real Estate Market : 2021 Review and 2022 Forecast

Calgary Real Estate Market 2022 Forecast

2021 was an exceptional year for Calgary Real Estate.  

Total sales in 2021 were 27,686, over 11,500 more sales compared to 2020.

For single-family homes, total sales were 17,038, over 7000 more sales compared to 2020, bringing the Benchmark price to $547,300, 11.9% increase from 2020.

The Forecast for 2022 is promising. Despite the pandemic and our economy still suffering, positive news like Amazon will open a cloud computing hub near Calgary and that will offer 950 job opportunities that are exciting news for Calgarians.

We are expecting positive migration from other provinces to Calgary. The new trend of working from home also brings lots of people from B.C. and Ontario who find the Real Estate market in those provinces is unreachable for them. 

In B.C. the average house price is pushing $1 million. In Ontario, the average house price is around $850,000. While Alberta's average house price is around $460,000. Therefore, the Calgary Real estate market still has room to play catch up.  

Also, according to Resonance Consultancy's World Best Cities 2021 report, Calgary is ranked one of the World’s best cities to live in in 2021. Many new immigrants are moving to Calgary from all over the world especially from Asian countries like India, and China.

What can we expect in 2022 for Calgary Real Estate?

In Summary, we are expecting a steady growth in the first 6 months by about 8% as we are experiencing a Seller’s market and will balance off when more listings come on the market in the Summer.

If you have any questions about Real Estate or the current market, please feel free to contact me at jessica@jessicachan.ca or visit my website www.jessicachan.ca