The board says 1,451 properties modified arms final month, because the residential benchmark worth was $583,000 — comparatively secure in comparison with worth ranges reported on the finish of final yr and a pair of.8% increased than January 2024.
There have been 2,896 new listings in the marketplace final month, up 35.5% from a yr earlier.
The board says January stock ranges skyrocketed to three,639 items, representing a 68.6% rise from a yr in the past, with a number of the largest beneficial properties pushed by apartment-style condominiums. Whereas the board referred to as it a big enhance, it says stock ranges stay beneath the 4,000-plus items sometimes seen in January.
Ann-Marie Lurie, chief economist at CREB, says Calgary’s provide ranges are anticipated to enhance in 2025 after three consecutive years of restricted selection, contributing to extra balanced circumstances and slower worth progress.
She cautions that provide will increase gained’t be equal throughout all property varieties and that the board continues to see “persistently tight circumstances” for indifferent, semi-detached and row properties whereas condo condominiums “present indicators of extra provide” for higher-priced items.
This report by The Canadian Press was first printed Feb. 3, 2025.
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Final modified: February 4, 2025