Real Estate Stats in Perspective
The Real Estate demand in Calgary and surrounding cities remains very strong! The main question I am being asked is always, how is the market doing since all the interest increases?
To answer this question, I have put a chart together from January 2022 to October 2022.
If you look at this chart, you can see that prices picked up in May and started to go down a little bit except for condominium apartments.
Despite the interest increases of 2.75% since June 1st, 2022, you can see that the price adjustments are pretty minors:
To put things into perspective, below is the average price in 3 other major cities compared to Calgary, all styles of homes combined. These stats are from the Nation Real Estate Association as of September 2022:
Looking at these numbers, it is very easy to understand why 80% of my real estate transactions this year were relocations. Despite the increase since the beginning of the year, Calgary is still so much cheaper compared to other larger centers that the number of people moving to Calgary helps maintain the real estate market.
Having a slow down in the market from October to Feb is completely normal and happens every year, pandemie or not. With the large amount of properties sold this year, especially during the spring, the statistics show that the amount of properties coming for sale has also really slowed down, which helps maintain the prices as the demand remains very strong.
Calgary/Alberta have become the #1 destination across Canada but also internationally thanks to the quality of life this province/city has to offer.
If you’re thinking about buying or selling, I would be honored to put my 30+ years of real estate experience in Calgary and surrounding cities. If you are looking for reviews or blogs, you can visit my website in French and English, my Google and Facebook account.