October sales activity slowed over the last month in alignment with typical seasonal patterns. However, with 2,171 sales, levels were 17% higher than last year and amongst the highest levels reported for October. Sales activity has been boosted mainly through gains in apartment condominium sales as consumers seek affordable housing options during this period of high-interest rates.
New listings also improved this month compared to last year, reaching 2,684 units, reflecting the highest October levels reported since 2015. Despite the gain, relatively strong sales prevented any significant shift in inventory levels, which remain over 40% lower than levels traditionally available in October.
With a months of supply of one and a half months, we continue to experience upward pressure on home prices. The unadjusted benchmark price in October reached $571,600, a gain over last month and nearly 10% higher than last October.
Jason Streich
Greater Calgary Real Estate
403 807 2204
jason@jasonstreich.com
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October 2023 | Calgary Real Estate Housing Market Update
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Housing Market Update
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