More Homes. More Choices. What Does It Mean for You?

by Shane Meahan

Here’s a quick update on what’s happening in the Calgary real estate market — and there are definitely some changes worth paying attention to.

First off, inventory has jumped 76% since February, which means there are a lot more homes available than we’ve seen in a while. What’s really interesting is that, unlike most of last year where the increase was mostly in homes over $500,000, we’re now seeing more homes under $500,000 hitting the market.

This is great news for anyone looking for more affordable options.
Compared to last March, sales are down about 20%, but new listings are up nearly 5%, and total inventory has reached 4,145 homes — 75% higher than this time last year.

Here’s where prices are sitting right now:
Average home price in Calgary: $587,600
Detached homes: $760,500
Semi-detached homes: $684,000
Townhomes: $447,000
Apartments: $334,200

Prices are slightly higher than they were a year ago, but overall, it looks like we may not see the usual big price increases this spring and summer — at least for now.

Outside of Calgary, here’s a snapshot:
Airdrie’s inventory is up 23%, and the benchmark price is $537,600.
Okotoks is sitting around $617,000.
Cochrane has the highest inventory it’s seen since before the pandemic, and the average price there is $577,000, which is up 5% from last year. Sales in Cochrane are up over 15%, while sales in Airdrie and Okotoks have slowed.
If you’re in Cochrane and thinking about selling, now could be a good time to take advantage of the demand.

The market is shifting, and what that means for you — whether you’re thinking of buying, selling, or just curious — really depends on your situation.
If you want to know more about what this changing market means for you, feel free to email or call me anytime. I’m happy to chat and help you figure out the best next step.