Market Trend
As of January 2025, Calgary's real estate market continues to exhibit robust activity, characterized by rising home prices, sustained demand, and evolving inventory levels. Here's an overview of the current trends:
Average Home Prices
The average sold price for homes in Calgary is approximately $604,639, reflecting a 10.4% increase compared to the same period last year.
Sales Activity
In December 2024, there were 1,322 homes sold, marking a 2.9% decrease from December 2023.
Inventory Levels
The market has seen an increase in new listings, with 3,501 added in the last 28 days.
Market Forecast
Projections indicate that Calgary's housing market will continue to experience price growth through 2025, with an estimated 4% increase in aggregate home prices, reaching approximately $728,104 by the fourth quarter.
Factors Influencing the Market
- Economic Stability: Calgary’s diversified economy, with strengths in technology, healthcare, and renewable energy, supports a stable real estate market.
- Population Growth: The city’s population is projected to grow to 1.52 million by April 2025, a 2.1% increase from the previous year, sustaining housing demand.
- Interest Rates: Anticipated declines in borrowing costs are expected to enhance consumer confidence and purchasing power, further stimulating the market.