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July 2023 | Calgary Real Estate Housing Market Update

July 2023 | Calgary Real Estate Housing Market Update

Rising rates had little impact on sales this month as the 2,647 sales represented a year-over-year gain of 18%, reflecting the strongest July levels reported on record.

The record-setting pace has been driven mainly by significant gains in the relatively affordable apartment condominium sector.

Despite recent gains, year-to-date sales have declined by 19% over last year. In line with seasonal expectations, sales and new listings trended down compared to last month.

However, this had minimal impact on inventory levels, which remained near the July record low set in 2006. With a sales-to-new-listings ratio of 82 per cent and a months of supply of 1.3 months, conditions continue to favour the seller.

In July, the unadjusted total residential benchmark price reached $567,700, marking the seventh consecutive monthly gain. Prices are now over four per cent higher than the previous peak in May of 2022.

Contact me today to schedule a discussion and explore the best strategies for maximizing your selling success.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jason@jasonstreich.com⁠

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
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