DECEMBER HOUSING MARKET UPDATE - Jan 5, 2023

December sales eased, however, slowing sales over the second half of 2022 were not enough to offset earlier gains as sales reached a record high of 29,672 units in 2022.

Over the past several months, the pullback in sales was also met with a significant pullback in new listings, causing further declines in inventory levels. As of December, there were 2,214 units available in Inventory, making it the lowest level of inventory reported for December in over a decade.

“Housing market conditions have changed significantly throughout the year, as sales activity slowed following steep rate gains throughout the later part of the year,” said CREB® Chief Economist Ann-Marie Lurie. “However, Calgary continues to report activity that is better than levels seen before the pandemic and higher than long-term trends for the city. At the same time, we have faced persistently low inventory levels, which have prevented a more significant adjustment in home prices this year.”

Benchmark prices eased to $518,800 in December, down nearly five percent from the peak price in May but almost eight percent higher than last December. While prices have trended down annually, they remain over 12 percent higher than last year’s levels.

The housing market in 2022 generally outperformed expectations both in terms of sales and price growth.

Source: CREB 

Price reduced!!! Attention investors and first-time buyers! Get into this affordable, bright two-bedroom townhome with all the upgrades and an extra-long single-attached heated garage. Great as a starter home or investment property. This 3-storey home is located in a family focused community, next to a big park/playground. Close to walking paths, ponds and greenspace. Easy access to Highway 1 and the mountains. Lots of upgrades including quartz countertops and Silgranite undermount sink in the kitchen, stainless steel appliances, wide high-end plank laminate floors with a neutral colour on the main and upper levels, 9 ft ceilings on the main, upgraded drop-in tub with tiled walls, Mohawk first-class carpet for the staircase, newer high-end washer and dryer, and more. This home offers an open-concept design with beautiful natural light beaming in through the big windows. There is a deck off the living room that backs onto green space. The two bedrooms are spacious and have walk-in closets. Washer and dryer on the upper level for your convenience. The oversized garage is fully finished with plenty of storage space. Extra parking on the driveway. Well-managed and pet friendly complex. Builder size is 1,055 sq.ft. Heartland is situated on the west end of Cochrane with convenient access to the Rockies, Ghost Lake and close to all the amenities you need. Call to book your private viewing today!

Price reduced!!! Attention investors and first-time buyers! Get into this affordable, bright two-bedroom townhome with all the upgrades and an extra-long single-attached heated garage. Great as a starter home or investment property. This 3-storey home is located in a family focused community, next to a big park/playground. Close to walking paths, ponds and greenspace. Easy access to Highway 1 and the mountains. Lots of upgrades including quartz countertops and Silgranite undermount sink in the kitchen, stainless steel appliances, wide high-end plank laminate floors with a neutral colour on the main and upper levels, 9 ft ceilings on the main, upgraded drop-in tub with tiled walls, Mohawk first-class carpet for the staircase, newer high-end washer and dryer, and more. This home offers an open-concept design with beautiful natural light beaming in through the big windows. There is a deck off the living room that backs onto green space. The two bedrooms are spacious and have walk-in closets. Washer and dryer on the upper level for your convenience. The oversized garage is fully finished with plenty of storage space. Extra parking on the driveway. Well-managed and pet friendly complex. Builder size is 1,055 sq.ft. Heartland is situated on the west end of Cochrane with convenient access to the Rockies, Ghost Lake and close to all the amenities you need. Call to book your private viewing today!

Open house: 2-4 PM, SAT, JULY 24, 2021. Great value in this affordable 3-level townhome -- END unit and offers DOUBLE ATTACHED garage. Features 3 bedrooms and 2.5 bathrooms. Bright and spacious. Perfect for the growing family or young professional! Fresh paint throughout. High-end engineered hardwood on the main and second levels. Brand new carpet on the third level. Upgraded primary en-suite. Move-in ready! The main floor features a dramatic cathedral ceiling (12') in the formal living room with floor to ceiling windows and corner gas fireplace. Bright sunshine pours in through the south-facing windows. Large kitchen with generous dining area and sliding door that leads to a huge deck to enjoy the morning sun. Upstairs features a master bedroom with walk-in closet and ensuite, another two spacious bedrooms and a 4pc washroom. The laundry is on the bedroom level, so no lugging clothes up and down stairs. The double garage is generously sized and has room for storage as well as two vehicles. Need more storage space? Loads of room under the crawl space. Take note: condo fees are dropping to $388.33 on August 1st as Cable package is removed. Well-managed complex and pet friendly. A 5-min walk to the C-train station, shopping, Fish Creek park, all levels of schools and golf course. Quick possession available. Call to book your showing today!