July 2022 Calgary Real Estate Market Update

Significant slowdowns in the detached and semi-detached market were nearly offset by sales growth in the apartment and row sectors.

July sales were 3% lower than levels recorded last year and this is the second month where sales activity slowed but total residential sales are still amongst the strongest levels recorded. New listings in the city declined compared to what was seen in 2021.

Listings for homes priced below $500,000 fell by 18%, while levels rose by 20% for homes priced above $500,000. With just over two months of supply, the market remains tight.

The benchmark price slipped relative to what was seen earlier in the year and rising lending rates have cooled much of the bidding war activity that was driving significant gains earlier in the year. But prices currently remain over 12% higher than last year’s levels.

Are you in the market to sell your home? Contact me to discuss how this impacts your decision!

Read Full CREB Market Report

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠⁠

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