• Home
  • Alberta
  • 2022 saw record-high sales and double-digit price growth

December sales eased, however, slowing sales over the second half of 2022 were not enough to offset earlier gains as sales reached a record high of 29,672 units in 2022.


Over the past several months, the pullback in sales was also met with a significant pullback in new listings, causing further declines in inventory levels. As of December, there were 2,214 units available in Inventory, making it the lowest level of inventory reported for December in over a decade.

“Housing market conditions have changed significantly throughout the year, as sales activity slowed following steep rate gains throughout the later part of the year,” said CREB® Chief Economist Ann-Marie Lurie. “However, Calgary continues to report activity that is better than levels seen before the pandemic and higher than long-term trends for the city. At the same time, we have faced persistently low inventory levels, which have prevented a more significant adjustment in home prices this year.”

Benchmark prices eased to $518,800 in December, down nearly five percent from the peak price in May but almost eight percent higher than last December. While prices have trended down annually, they remain over 12 percent higher than last year’s levels.

The housing market in 2022 generally outperformed expectations both in terms of sales and price growth.

There were 1204 properties sales and 1031 new listings in Calgary in December 2022.

Detached

The detached market has felt most of the impact of higher rates as a pullback in sales in the year’s second half contributed to the year-to-date decline of over seven percent. While there have been some gains in new listings over the last quarter, much of the growth has occurred in the market's upper-end, supporting more balanced conditions. However, supply levels for lower-priced homes remain low relative to the sales activity, causing that market segment to continue favouring the seller. Overall, the detached market has seen activity shift away from the strong sellers’ conditions reported earlier in the year.

Prices in the detached market have trended down in the second half of the year, as the December benchmark price of $619,600 has eased by just over four percent from the June high. The recent adjustments have not erased all the earlier gains, as benchmark prices reported an annual gain of over 14 percent. Annual price growth has ranged from a high of 19 percent in the South East, North and North East districts to a low of nearly eight percent in the City Centre.

There were 617 detached home sales and 495 new listings in Calgary in December 2022
The median sold price of detached homes for sale in Calgary was $570,000
The average sold price of detached homes for sale in Calgary was $638,916
The average days on market of detached homes for sale in Calgary was 45 days.
 

Last 12 Months Detached Real Estate Sales in Calgary

  No. of New Sale No. of New Listings Sale Price to List Price Ratio Median Price Average Price AvG. Days on Market
Dec-22 617 495 98% $570,000 $638,916 45
Nov-22 815 849 98% $561,000 $623,835 36
Oct-22 942 1151 98% $582,000 $655,625 35
Sep-22 969 1382 98% $570,000 $639,406 35
Aug-22 1064 1480 98% $575,000 $637,127 31
Jul-22 1131 1609 99% $580,000 $637,536 28
Jun-22 1483 2159 100% $591,000 $668,438 24
May-22 1616 2220 101% $595,000 $659,734 22
Apr-22 1849 2539 102% $610,000 $669,575 18
Mar-22 2267 3153 103% $612,000 $670,542 14
Feb-22 1896 2870 105% $625,000 $678,313 13
Jan-22 1146 1293 102% $570,600 $626,121 32

 

Semi-Detached

Further declines in sales this month contributed to the year-to-date sales decline of nearly three percent. While sales have eased relative to last year’s record levels, activity is still far stronger than long-term trends and levels reported prior to the pandemic. At the same time, new listings have been trending down for this property type, keeping the inventory and months of supply relatively low compared to historical levels. 

While conditions are not as tight as earlier in the year, there has been some downward pressure on prices. The monthly benchmark price peaked in May of this year and has eased by nearly four percent since then. However, on an annual basis, benchmark prices remain nearly 12 percent higher than in 2021. The North district reported a higher annual price gain of over 18 percent.

There were 87 semi detached home sales and  104 new listings in Calgary in December 2022
The median sold price of semi detached homes for sale in Calgary was $512,000
The average sold price of semi detached homes for sale in Calgary was $543,886
The average days on market of semi detached homes for sale in Calgary was 43 days.
 

Last 12 Months Semi Detached Real Estate Sales in Calgary

  No. of New Sale No. of New Listings Sale Price to List Price Ratio Median Price Average Price AvG. Days on Market
Dec-22 87 104 98% $512,000 $543,886 43
Nov-22 133 132 98% $493,000 $587,101 44
Oct-22 158 187 98% $468,750 $536,375 38
Sep-22 152 238 98% $472,769 $507,623 36
Aug-22 170 207 98% $472,500 $514,793 34
Jul-22 173 274 99% $430,000 $512,733 28
Jun-22 223 311 99% $485,000 $541,181 24
May-22 264 358 100% $485,000 $541,943 23
Apr-22 304 371 101% $506,759 $563,340 22
Mar-22 345 462 102% $515,000 $584,388 20
Feb-22 296 395 102% $510,500 $563,081 25
Jan-22 198 267 101% $512,500 $558,489 35

Row

Significant reductions in new listings weighed on sales over the last few months of the year. Despite recent shifts, annual sales in the city reached a new record high, with 5,153 sales in 2022. Not only was it a record year, but sales were nearly double long-term trends. Higher lending rates are driving more purchasers toward the more affordable row options. While new listings were still higher than last year’s levels on an annual basis, the recent pullback combined with relatively strong sales has caused inventory levels to fall.

As of December, inventory levels were at the lowest since 2013. This has ensured that this segment of the market continues to favour the seller. While prices have eased by just over one percent from the June peak, overall year-to-date prices are nearly 15 percent higher than last year.

There were 189 row home sales and 145 new listings in Calgary in December 2022
The median sold price of row homes for sale in Calgary was $350,000
The average sold price of row homes for sale in Calgary was $352,447
The average days on market of row homes for sale in Calgary was  42 days.
 

Last 12 Months Row Homes Real Estate Sales in Calgary

  No. of New Sale No. of New Listings Sale Price to List Price Ratio Median Price Average Price AvG. Days on Market
Dec-22 189 145 98% $350,000 $352,447 42
Nov-22 249 251 98% $352,500 $356,673 35
Oct-22 320 304 98% $335,000 $356,314 36
Sep-22 325 401 98% $330,000 $345,810 38
Aug-22 375 378 98% $339,500 $341,022 34
Jul-22 432 500 99% $350,000 $356,149 30
Jun-22 555 654 99% $345,500 $353,912 27
May-22 554 771 100% $355,000 $363,644 23
Apr-22 604 782 101% $355,050 $368,516 20
Mar-22 709 883 102% $351,400 $359,205 19
Feb-22 536 692 102% $355,559 $366,395 29
Jan-22 305 364 98% $314,000 $336,589 58

Apartment Condominium

Unlike other property types, apartment condominium sales continue to rise above the previous year’s levels throughout the year. This caused year-to-date sales to rise by 50 percent to 6,221 units, a new record high. Demand for affordable product, along with renewed investor interest thanks to rental rate growth, helped support sales growth. Gains in this sector were also possible thanks to the growth in annual new listings. However, like other sectors, the increase in new listings was not enough to outweigh the sales growth, and inventory levels trended down to levels not seen since 2013.

After several years of being oversupplied, the shift to tighter conditions supported annual price gains of nearly nine percent. While price gains occurred across every district, city-wide prices remain well below the previous highs reached back in 2014.

There were  311 apartment sales and 287 new listings in Calgary in December 2022
The median sold price of apartment for sale in Calgary was $258,500
The average sold price of apartment for sale in Calgary was $283,333
The average days on market of apartments for sale in Calgary was 49 days.

 

Last 12 Months Apartment Real Estate Sales in Calgary

  No. of New Sale No. of New Listings Sale Price to List Price Ratio Median Price Average Price AvG. Days on Market
Dec-22 311 287 97% $258,500 $283,333 49
Nov-22 448 379 97% $250,000 $292,124 46
Oct-22 437 533 97% $250,000 $297,383 52
Sep-22 449 605 97% $247,000 $303,391 46
Aug-22 524 653 97% $240,000 $270,176 44
Jul-22 513 795 97% $248,900 $276,145 37
Jun-22 578 931 98% $246,250 $279,585 34
May-22 629 948 98% $254,500 $289,072 33
Apr-22 642 893 98% $249,950 $276,383 34
Mar-22 770 994 98% $259,000 $290,839 38
Feb-22 565 694 98% $252,500 $274,158 57
Jan-22 355 550 97% $234,000 $268,056 70



REGIONAL MARKET FACTS


Airdrie

Sales in Airdrie have declined since April, mainly because of the significant drop in detached home sales. December was no exception, as sales slowed compared to last year’s levels. Despite recent declines, year-to-date total residential sales increased by seven percent and have set a new record-high of 2,469 units. Regional population growth combined with the relative affordability of homes in Airdrie compared to Calgary are some factors supporting the record sales in 2022.

While new listings trended down in December, 2022 saw a general rise in new listings in the market. This has helped support some recent year-over-year gains in inventory levels over last year’s exceptionally low levels. Recent adjustments in both sales and inventory levels have caused the months of supply to trend up from the strong seller’s market conditions reported earlier in the year. However, conditions remain relatively tight with less than two months of supply.

The December benchmark price in Airdrie has eased by over six percent from the April peak. However, this is still 12 percent higher than last year's level. Overall, the annual benchmark price in 2002 was $489,558, nearly 20 percent higher than last year's level.


Cochrane

December sales eased, contributing to the year-to-date decline of eight percent. The annual pullback in sales was met with new listings comparable to last year. This has helped support some inventory growth in the market, but levels are still well below what is typically available in the resale market. While inventory levels remain low, the recent pullback in sales has resulted in more balanced conditions taking some of the pressure of price growth seen over the last four months of the year.

On an annual basis, the benchmark price reached $504,067 in the town, nearly 17 percent higher than last year’s prices. Price gains were the strongest in both the detached and semi-detached sectors, where prices rose by 19 percent, establishing 2022 as the new record-high price.


Okotoks

Sales activity eased in December, but the year-over-year pullback over the past few months has not offset the gains reported earlier in the year, as year-to-date sales activity rose by nearly two percent. This growth in sales was met with additional new listings in the market, helping support higher inventory levels over last year’s record lows. Even with some inventory growth, conditions continue to remain tight with under two months of supply, placing limits on the price adjustments.

While prices have trended down from the high seen in May, on an annual basis, benchmark price growth in the town was nearly 16 percent. Price growth was strongest in the detached sector, which for the first time, pushed above $600,000 on an annual basis.
 

Included below is a list of houses for sale in Calgary, Alberta

Calgary Homes for Sale January 29, 2023
2015
Listed
58
Avg. DOM
$457.62
Avg. $ / Sq.Ft.
$589,000
Med. List Price
2015 Properties
Page 1 of 168
$449,900
Neighbourhood: Richmond
3
Beds
2F11/2
Baths
1,093
Sq.Ft.
2001
Year Built
1
Day on Site
A2020937
MLS®
Now is the time to make your move to the inner city in Calgary! This immaculate RICHMOND 2 storey townhome is in immaculate condition and is sure to please the most fastidious buyers. At 1090+sq. ft....
$599,500
Neighbourhood: New Brighton
3
Beds
2F11/2
Baths
1,791
Sq.Ft.
2011
Year Built
1
Day on Site
A2021658
MLS®
Welcome to this beautiful, 2011 built, well-maintained two storey house, located in the very sought-after neighborhood New Brighton! Spacious corner lot, previously show home, with Cedarglen home's...
$309,900
Neighbourhood: South Calgary
2
Beds
2
Baths
612
Sq.Ft.
2013
Year Built
1
Day on Site
A2021620
MLS®
Welcome to your perfect home! This stunning 2 bedroom, 2 bathroom condo in South Calgary is the perfect combination of quality and affordability, in one of the most desired areas of the inner-city....
2
Beds
2
Baths
704
Sq.Ft.
2017
Year Built
1
Day on Site
A2021858
MLS®
Welcome to one of the most sought-after communities in the Northwest, Kincora! A rare opportunity for a first-time home buyer, investor, or downsizing to own a 2 bedrooms, 2 full bath condo in this...
Open 1/29
232  Walden Mews SE Calgary,  AB T2X0S8
$669,900
Neighbourhood: Walden
4
Beds
3F11/2
Baths
1,925
Sq.Ft.
2011
Year Built
1
Day on Site
A2021533
MLS®
OPEN HOUSE SUNDAY Jan. 29th 1:30 to 3:30. Wonderful fully finished family home within walking distance to all amenities in Walden! 2641 total developed square feet! This stunning Jayman BUILT...
1
Beds
2
Baths
701
Sq.Ft.
2016
Year Built
1
Day on Site
A2021772
MLS®
Wonderfully unique, this affordable TOP floor suite awaits you. Your new oasis features an open concept design, showcasing stunning panoramic VIEWS from every window, with a balcony spanning the full...
$293,000
Neighbourhood: Copperfield
2
Beds
2
Baths
740
Sq.Ft.
2014
Year Built
1
Day on Site
A2021777
MLS®
Well-kept wonderful 2-bedroom, 2-bathroom condo in the heart of Copperfield, was designed to impress. Situated at building 6000 on the 3rd Floor, bright and spacious corner unit. Fabulous layout and...
$698,000
Neighbourhood: Point Mckay
3
Beds
2F11/2
Baths
1,715
Sq.Ft.
1981
Year Built
1
Day on Site
A2019640
MLS®
Come experience free & easy living in the highly sought after, ultra convenient and amenity filled community of Point McKay. Steps from the Bow River pathways and a short drive the Foothills...
2
Beds
2
Baths
991
Sq.Ft.
2000
Year Built
2
Days on Site
A2021381
MLS®
Imagine what this Unit has to offer!!! Enjoy Beautiful Sunset, Magnificent Views of the Rockies, Downtown Skyline /Fireworks during Stampede, from every main part of your unit - your Balcony,...
$319,900
Neighbourhood: Shawnee Slopes
2
Beds
1
Baths
605
Sq.Ft.
2023
Year Built
2
Days on Site
A2021748
MLS®
Introducing Shawnee Slope Condos, spectacular condo offering 2 bedrooms in the magnificent and coveted SW community of Shawnee Slopes! This unit is an unbelievable opportunity for first-time home...
$550,000
Neighbourhood: Coventry Hills
4
Beds
3F11/2
Baths
1,452
Sq.Ft.
2006
Year Built
2
Days on Site
A2021771
MLS®
4 bedrooms and 3.5 baths, 2-Storey home with an [Illegal] Rental Suite in the Basement in the family friendly area of Coventry Hills! The main floor has a large living rm with large windows, allowing...
$369,900
Neighbourhood: Beltline
1
Beds
1
Baths
583
Sq.Ft.
2018
Year Built
2
Days on Site
A2021384
MLS®
LOCATION, LOCATION, LOCATION! Welcome to Park Point in arguably the best location in Downtown Calgary. This immaculately well kept 1 bedroom + den / 1 bathroom unit will knock your socks off! If the...

Thinking of Buying or Selling your Home in Calgary?
Contact Ray Riley, Realtor

Phone(403) 270-7601

Email[email protected]

Address Ray Riley
#115 8820 Blackfoot Trail SE
Calgary, AB T2J 3J1