2024 Forecast in Calgary Real Estate: Market Trends and Our Predictions


Happy New Year!! 
Wish everyone has a Prosperous and Healthy 2024!!

Today I would like to review the Calgary Real Estate Market in the last 2 years and forecast 2024!

Calgary's Real Estate market was strong in the last 2 years especially in 2023 when other cities in Canada were affected by the increase in the interest rates, house prices were dropping, and only Calgary kept on rising throughout the year.  


Total Residential Benchmark price was $516,200 in Dec 2022, and finished at the end of 2023 at $570,100, 10.4% increase.

If we look closer to different types of properties, their increases are much higher.

Single family home Benchmark price is now …

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Calgary Real Estate in 2023: 2nd Quarter Market Review

 The Calgary Real Estate market is so hot right now. Is this still a good time to buy? The interest rate is high. Do you think the market is coming down?

 Today I'm here to talk about the second quarter of the Calgary real estate market. Continue with the rising trend in the first quarter.

 

The second quarter is also doing really good in the Calgary market. For Single-Family Home, right now the benchmark price is $685,100.

 

Almost 11% increase from the end of December. For Apartment, the price has increased by 12.38%

 

and Townhouses has gone up almost 13% compared to the year end of 2022.

So this increase causing based on the single family home being…

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Calgary Real Estate in 2023: 1st Quarter Market Review

Are we at Buyer or Seller Market?  What caused the market to be so active in the first quarter?
Let's take a look at the 1st Quarter 2023 Market Review.

To everyone's surprise, the sales price for all single-family homes, townhouses, and apartments are up from the end of December benchmark prices.

The single-family home Benchmark price at the end of 2022 was $619,600. 


Due to the low inventory in Jan and February, the benchmark price has gone up to $649,800 in March, and it is higher than the peak market in May of 2022 ($648,500 at that time). Benchmark price has gone up 4.8% in 3 months' time.

For the Apartment, the Benchmark price has gone up 6.8% in the last 3…

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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…

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Are housing prices going up or down in Calgary? Is 2021 a good time to buy or sell? Should you be investing in Condo or Single - Family Home? Here is my forecast for the 2021 Calgary Real Estate Market. 

Despite the Pandemic, Calgary Real Estate market was doing good in the second half of 2020.  


In the month of June, the sales activities already back to 1763 transactions with the benchmark price bounced to $487,300 in July for single family homes.


There were a total of 16,152 transactions in 2020, just a touch lower than 2019. 


December sales is much higher compared to the year before, with the benchmark price for single family homes bounced to $490,500. 

This gives us a good indication of the demand in…

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