Courtesy of Shannon Welsh-Moser

January sees strong sales fueled by boost in new listings

$324,000 apartment UP 18.7% year-to-year

$702,200 detached UP 12.6% year-to-year

BENCHMARK PRICES

2,137 NEW LISTINGS 1,650 SOLD LISTINGS

$426,400 rowhouse UP 19.7% year-to-year

detached 954 detached 734 488 apartment 638 apartment

1.3 MONTHS OF INVENTORY

2,150 ACTIVE LISTINGS

77.2% SALES TO NEW LISTING RATIO

34 DAYS ON MARKET

Calgary, February 1, 2024 – January sales rose to 1,650 units, a significant gain over last year's levels and long term trends. The growth was possible thanks to a rise in new listings totaling 2,137 units in January. New listings rose for homes priced above $300,000, but the largest gains occurred for homes priced above $700,000. The rise in new listings relative to sales did little to change the low inventory situation in the city. With 2,150 units in inventory, levels are near the January record lows set in 2006 and are nearly 49 per cent below the long-term average for the month. "Supply challenges have been a persistent problem since last year. This month's gain in new listings has helped

provide options to potential purchasers, supporting sales growth. However, the growth in sales prevented any significant adjustments in supply, keeping conditions tight and supporting further price growth," stated Ann-Marie Lurie, Chief Economist at CREB ® . The months of supply in January was 1.3 months, falling over last month's and last year's levels. The unadjusted benchmark price in January reached $572,300, a gain over last month and ten per cent higher than levels reported last January. Statistics reflect market activity in January 2024 | Source: CREB ® Calgary Real Estate Board. Market values stated are of the benchmark of the city 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.

REALTOR®

Cell: (403) 831-8495

office: (403) 253-5678 email: shannonwmfindshomes@gmail.com website: shannonwelsh.maxwellrealty.ca

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