Calgary Real Estate Market Update - February 2024

👉 Monthly Calgary Market Report: tcgroup.me/z69
The Calgary real estate market update for February 2024 exhibited a robust performance, marked by a significant uptick in sales and a boost in new listings, signalling a vibrant start to the year. Sales in January soared to 1,650 units, showcasing remarkable growth over the previous year's levels and surpassing long-term trends. This increase was underpinned by a considerable rise in new listings, which totalled 2,137 units for the month. New listings experienced the most substantial gains for homes priced above $700,000, although improvements were seen across all price segments above $300,000. Despite this influx of new listings, the inventory levels remained critically low, with 2,150 units in inventory, hovering near the record lows set back in January 2006 and almost 49% below the long-term average for the month.
The persistent challenge of low supply, which has been a notable trend since the previous year, continued to shape the market dynamics in January 2024. The slight increase in new listings provided potential buyers with more options, supporting the growth in sales. However, this did not significantly impact the supply constraints, keeping market conditions tight. The months of supply dropped to 1.3 months, indicating a continued tightness in the market and exerting further upward pressure on home prices.
As a result, the benchmark price climbed to $572,300, marking a 10% increase from the levels reported in January of the previous year and highlighting the ongoing demand in Calgary's real estate market despite the supply challenges.
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Chapters:
0:00 Calgary Real Estate Market Update - February 2024
7:59 Detached homes in Calgary
11:33 Semi-Detached homes in Calgary
15:42 Townhomes in Calgary
18:42 Apartments in Calgary

Пікірлер: 32

  • @RD-yj9zj
    @RD-yj9zj4 ай бұрын

    Moved here from BC last year, best move ever made for our family, we now have a very small mortgage and no other debt.

  • @ChamberlainGroup

    @ChamberlainGroup

    4 ай бұрын

    That’s amazing. Welcome!!! If you have friends or family doing the same let us know how we can help them!

  • @christinecamley
    @christinecamley5 ай бұрын

    Fabulous update!! Thanks so much!!

  • @cloutm_anager8262
    @cloutm_anager82625 ай бұрын

    In the best parts of NW inventory is being bought over ask the day it gets listed. Many in my area went on market at 725k-850k. Sold first day 25k over ask consistently. We are for sure looking at 10%+ this year. I’m already seeing it.

  • @blackbirdbeatle

    @blackbirdbeatle

    5 ай бұрын

    In in Crowfoot semi-detached and it's crazy to see. I think a lot of us are still in the mindset of the local recession period pricing, 'It's only worth x amount'. My place can't be worth this, how can that be? Well, it is and affordability is fast eroding here. Edmonton is next.

  • @Mike-sl7zy

    @Mike-sl7zy

    5 ай бұрын

    NW is the best, university district is an amazing neighborhood to live.

  • @carsonho9338

    @carsonho9338

    5 ай бұрын

    Easy logic: new comers compare the big 4, Toronto, Montreal, Vancouver, Calgary. Toronto and Vancouver is out of range, meanwhile Calgary is still dirt cheap

  • @marcuslatansa4202
    @marcuslatansa42024 ай бұрын

    Typical Calgary … then 2 years later people go back to ontario and BC and prices drop drastically … i feel sorry for people who believes in anything a realtor say

  • @DennisJWilson
    @DennisJWilsonАй бұрын

    My Mom bought a town house for 103,000 and sold it for 137,000

  • @AlwaysHappy494
    @AlwaysHappy4945 ай бұрын

    I am putting my detached house for sale on FEB. 24th. 2024 at Heritage Harbor, Heritage Pointe ( Heritage Lake)...Excellent price. Don't miss this opportunity. Good info. You can contact our realtor in Calgary, Alberta.

  • @ChamberlainGroup

    @ChamberlainGroup

    5 ай бұрын

    Sounds great. If you need a second opinion we’re here to help www.chamberlaingroup.ca/contact/

  • @jozefciszewski2074
    @jozefciszewski20745 ай бұрын

    Detached houses will be heading for 800k by end of this year. Because people over biting 700k right now and it's only February. I was predicting that scenario many months ago. We in Alberta were simply way under priced in comparison to Vancouver and Toronto. The gap is shrinking and that is good thing.

  • @andreec2808

    @andreec2808

    5 ай бұрын

    Way under priced since 2010, way underpriced compared to other major city. Makes Calgary still highly attractive even after a 50% increase. Come on people, Calgary still doesn't beat inflation even after a 50% increase when you compare to 2010, especially for condos !

  • @SS-hd5jx

    @SS-hd5jx

    5 ай бұрын

    i dont consider calgary a major city. it's not comparable to toronto or vancouver, hence why its significantly cheaper. to be considered a major city, the city needs enough money to be able to clean their roads. there needs to be more jobs being created. and then just expand on the entertainment sector. calgary has the bare minimum of each and it tries so hard to be considered a major city but i think its 20 years behind still.@@andreec2808

  • @ambeemaree3603
    @ambeemaree36034 ай бұрын

    I own a home in Chestermere worth about $675k. I want to move into Calgary, and could possibly go as high as 1.1M. I'm wondering if that might work in my favour since the mid range homes are booming and the higher priced homes may be at a bit of a sale in relation. Does this sound like a smart move, or is my thinking incorrect?

  • @ChamberlainGroup

    @ChamberlainGroup

    4 ай бұрын

    There could be some options there for sure. Lets chat more here www.chamberlaingroup.ca/contact/ it’s hard to say fully without knowing what your current home is and where you’d be looking to purchase

  • @aalampara7853
    @aalampara78535 ай бұрын

    Surprisingly detached homes are falling back to $800-900K now in GTA! Soon Toronto and Calgary break even

  • @MrZOB89

    @MrZOB89

    4 ай бұрын

    You obviously have no clue what you are talking about if you think Toronto is even with Calgary 😂

  • @canadianjatti
    @canadianjatti5 ай бұрын

    my townhouse as appreciated even more this year! i dont think ill ever be able to upsize now even though im selling high ill be buying much higher

  • @ChamberlainGroup

    @ChamberlainGroup

    5 ай бұрын

    It is a story we’ve heard before. If you are needing to change or move we can help run the numbers and see what’s possible www.chamberlaingroup.ca/contact/

  • @aalampara7853
    @aalampara78535 ай бұрын

    I will wait until the house prices reach 1 million mark !! 💪💪💪

  • @MustyBastard

    @MustyBastard

    5 ай бұрын

    lololololololololololololololollo

  • @harprreet
    @harprreet5 ай бұрын

    I want to sell my duplex in NE

  • @ChamberlainGroup

    @ChamberlainGroup

    5 ай бұрын

    Let’s chat here to learn more about your situation and build a strategy. www.chamberlaingroup.ca/contact/

  • @vstobinski
    @vstobinski4 ай бұрын

    My daughter just bought house in SW.asking 499000.Paid 560000

  • @ChamberlainGroup

    @ChamberlainGroup

    4 ай бұрын

    Thanks for watching and commenting. My gut is the agent probably discussed with the seller to price just under $500k to attract more offers all the while its market value was in the sale range the whole time.

  • @MustyBastard
    @MustyBastard5 ай бұрын

    I want to sell my bridge can you help me ?

  • @ChamberlainGroup

    @ChamberlainGroup

    4 ай бұрын

    🤔 🌉 🤷‍♀️

  • @paulkreeft2091
    @paulkreeft20914 ай бұрын

    Annoying music

  • @arvinaks1137
    @arvinaks11375 ай бұрын

    Above 700K to 800K houses are not even getting sold.

  • @ChamberlainGroup

    @ChamberlainGroup

    5 ай бұрын

    Interesting. Where do you see this stat? Are you saying homes above 700k don’t have demand and aren’t selling?

  • @jozefciszewski2074

    @jozefciszewski2074

    5 ай бұрын

    I wouldn't chat with this guy,he is 48 and lives in his mom's basement. Not even paying rent 😂​@ChamberlainGroup