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 projecting home prices will continue on this same path, but will fall just 0.69 percent year-over-year to $419,739.