Courtesy of Ryan Torris

SUPPLY LEVELS IMPROVING FOR HIGHER-PRICED HOMES

CALGARY

AIRDRIE

BENCHMARK PRICE Current: $592,500 Last Mo.: -0.7 % Last Yr.:4.5 %

BENCHMARK PRICE Current: $546,300 Last Mo.: -0.01% Last Yr.: 5.3%

City of Calgary, November 1, 2024 Sales gains for homes priced above $600,000 offset declines at the lower end of the market, resulting in October sales that were similar to last year. The 2,174 sales in October increased over September and stood 24 per cent above long-term trends for the month. “Housing demand has stayed relatively strong in our market as we move into the fourth quarter, with October sales rising over last month,” said Ann Marie Lurie, Chief Economist at CREB®. “However, activity would likely have been stronger if more supply choices existed for lower-priced homes. Supply levels in our market are improving relative to the ultra-low levels experienced last year, but much of the gains have been driven by higher-priced units for each property type. This results in conditions far more balanced in the upper end of the market versus the seller’s market conditions in the lower to mid-price ranges of each property type.” The gains in new listings relative to sales over the past six months have supported inventory gains in the city. As of October, 4,966 units were available, a significant improvement over the near-record low of 3,205 units reported last October. While inventories are starting to reach levels more consistent with long-term trends, the inventory composition has changed as nearly half of all the residential inventory is now priced above $600,000.

DAYS ON MARKET

DAYS ON MARKET

30

32

NEW LISTINGS

NEW LISTINGS

3,264

231

ACTIVE LISTINGS

ACTIVE LISTINGS

4,966

365

SOLD LISTINGS

SOLD LISTINGS

2,174

154

Stats Reflective of October 2024 Source: CREB ®

Stats Reflective of October 2024 Source: CREB ®

Market values stated are of the average of Calgary. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

Market values stated are of the average of Airdrie. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

Source: CREB ®

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R yan T orris REALTOR ® - TOP PRODUCER - OWNER Real Estate Agent, 1forAll Charity Contributor 403.710. SOLD (7653) concierge@blackrockre.ca www.blackrockre.ca @blackrockre

201, 120 2nd Ave NE Airdrie, AB T4B 2N2

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