October Monthly Market Update

If you have been following the market at all, or if you saw my post in September, you will know the market is starting to shift. That shift became even more evident in September. Here is a quick overview, with the full breakdown available in my video. 

You can watch the video below:

Overall September sales in Calgary are down 12% vs September 2021. However with total sales of 1901, activity is still far stronger than what we were seeing pre-pandemic, and well above long term trends for September. 

We are still seeing a shift towards more affordable segments, with detached and semi detached sales down 23-27% year over year, while the row and apartment segments are up 3-23%. The condo market, which for years was depressed to to oversupply, has had a 60% improvement in 2021 and set a September sales record with 450 total sales. As a result, benchmark prices are up 10% year over year. 

I watch the numbers on a daily basis for shifts and changes, so if you would like to talk about the current market conditions in your area please let me know.