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January 2020

Found 5 blog entries for January 2020.

Wondering how Calgary’s condo market fared in 2019? Check out some bullet points we grabbed from the 2020 CREB Forecast…

  • Calgary recorded 2,672 condo sales last year, representing a 0.41 percent increase year-over-year. 
  • Overall condo sales stabilized in 2019 thanks to a stronger second half of the year, although sales levels are still 20 percent lower than longer-term averages. 
  • A reduction in overall inventory helped stabilize sales in 2019 as supply levels dropped from an average of seven months in 2018 to six months in 2019. 
  • Condo sales improved for units priced below $200,000.
  • Prices eased by just over 2 percent in 2019 and remain 17 percent below 2015 highs.

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Calgary Home Prices Wondering what’s in store for the 2020 housing market in Calgary? Before we look ahead at what to expect, let’s first dive into what we’ve seen over the last couple years…

Home Sales Summary 

Back in 2018, home sales in Calgary only reached 16,142, which represented a dramatic 14.50 percent decline compared to 2017. Last year, 16,365 homes sold in Calgary, up 1.38 percent year-over-year. In 2020, CREB is projecting 16,731 home sales, which would be a welcoming 2.24% jump compared to 2019’s sales volume 

Home Price Summary 

In 2018, CREB’s benchmark price settled at $437,483, a 1.55 percent decline year-over-year. Last year, home prices continued to stumble, falling 3.39 percent to $422,650. Thanks to an oversupply of inventory, CREB is

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The detached housing market in Calgary has been challenged in recent months, especially compared to other segments of the market. From 2018 to 2019, detached home sales fell from 9,944 sales to 9,913 sales, representing a slight 0.31 percent decline. But after another year of price declines, CREB is projecting a nearly 2 percent improvement in sales for 2020, which would equal 10,101 detached home sales in 2020. 

It’s also noted that any gains seen in the detached home market will likely be fueled by lower-priced homes, which should be in high demand thanks to continued price drops, favorable lending rates, and job growth in non-traditional and lower paid sectors. 

Improving conditions in the lower-end detached market can also lead to stronger

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Wondering how the detached market fared in 2019? Check out some bullet points we grabbed from the 2020 CREB Forecast…

  • Detached home sales dropped slightly from 2018, ultimately making it one of the slowest years of sales since the mid-1990s. 
  • Nearly 60 percent of the detached home inventory is priced over $500,000.
  • The North West and South districts saw an improvement in detached home sales while all other districts registered a decline in overall sales. Calgary’s North District saw the largest decline year-over-year. 
  • Many home builders with a presence in Calgary have adjusted their prices to be more competitive with the resale market, ultimately shifting demand from the resale side of the market back over to new
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Every year the Calgary Real Estate Board (CREB) releases its annual forecast, which talks about what we saw happening with the local housing market over the past 12 months, and also what we might be able to expect over the course of the next 12 months. 

Below are some stats and highlights mentioned in the 2020 CREB Forecast…

Sales activity last year was actually a bit higher than initially projected thanks to steeper price declines and easing mortgage rates. Homes priced below $500,000 saw modest improvements, which offset losses seen for higher-priced homes throughout the area. 

As we transition into the new year, this trend is expected to continue, although even the higher-end market is expected to improve by 2 percent in 2020. This increase in

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