Pricing trends in July: Calgary Real Estate Market Summary

Pricing trends in Homes for sale in Calgary Canada - July

Calgary is a dynamic and active city with a young and successful economy, making it a happy place to call home. It began as a modest police station in 1882 before gaining its current renown. The city was not established until 1893, after which it saw tremendous expansion. This was especially true in the 1970s, when it became a transportation centre for energy resources such as Canadian oil. Because of the increasing economy and rapid expansion, over 85 percent of Canadian energy firms have set up shop here.

About 55 percent of homes in Calgary are single detached homes, with the remainder consisting primarily of modest apartment buildings and townhouses. The majority of the homes in this city have four or more bedrooms and three bedrooms. About 70% of the city's units are occupied by homeowners, while 30% are rented. Approximately one-third of the dwellings in this city were built after the year 2000, with the majority of the remaining structures dating from the 1960s and 1980s.

When compared to the active listings reported on the last day of the month, 42.1 percent of all MLS® listings in the City of Calgary were sold in June 2021. (Excluding expired and terminated listings throughout the month). It also implies that nearly 57.9% of homeowners were unable to sell their homes, and their listings either expired or were canceled at the seller's choice. Homeowners were able to sell their houses with a 14.8 percent lower success rate in 2020, with roughly 27.4 percent of all listings in Calgary that were up for sale being sold.

For strategies and ideas in how to navigate today's real estate market, contact Ron Garneau for a free Home Evaluation or Buyer's Consultation.

Average Housing Prices in Calgary

In June 2021, the average price of a house in Calgary was $499,111. It is currently 7.3 percent more expensive than it was in the same month of 2020, when the aggregate price of single-family, condos, and attached homes was $460,099.

Stay tuned for tomorrow's blog post: We will take a deeper dive into last month's data and consider what options various types of clients should consider taking in Calgary's market.