Calgary Real Estate Market Update July 2024

👉 Monthly Calgary Market Report: https://tcgroup.me/z69 Let's chat more: https://www.chamberlaingroup.ca/contact/ 👈

In June 2024, Calgary's real estate market experienced notable shifts amidst supply constraints and rising prices. Sales for the month reached 2,738 units, marking a 13% decline compared to last year's record high. This decline was primarily observed in the lower price ranges, with inventory levels continuing to fall in these segments. Despite this pullback, the market remains robust, with sales exceeding long-term averages by over 15%.

Persistent tight supply conditions have fueled further price increases across all property types and districts, with the unadjusted benchmark price rising to $608,000, a nearly 9% year-over-year increase. These dynamics underscore a competitive environment, particularly for properties priced
below $700,000, where demand continues to outstrip supply, driving many transactions above the listing price.

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