01/09/2025
Calgary Real Estate Market Update – December 2024
2024 was an exciting year for Calgary’s real estate market, and as we wrapped up December, there were some key trends worth sharing. While sales in December were slightly lower than last year (down 3%), they were still 20% above long-term averages. This highlights how resilient and in-demand our market remains. Residential benchmark prices closed the year at $593,608, reflecting a strong 7.4% increase year-over-year.
Inventory has been a hot topic throughout 2024. By December, there were just under 3,000 active listings—a big improvement from the tighter levels we saw earlier in the year. This shift has started to provide more options for buyers, especially in higher price ranges.
Detached homes remain a favorite, with a benchmark price of $747,500, up 7.2% from last year. Semi-detached homes also saw strong growth, with prices climbing 8.4% to $677,600. Row homes and apartments have continued to gain momentum, with benchmark prices reaching $447,400 and $332,400, respectively. Interestingly, the most affordable areas, like the Northeast and East districts, saw some of the fastest price growth, as buyers continue to seek value in Calgary’s diverse housing options.
Looking ahead to 2025, we’re expecting more balance in the market as inventory levels continue to improve. That said, demand is still strong—especially for homes priced under $600,000—so opportunities for both buyers and sellers remain promising.
If you’re thinking about making a move, buying your first home, or exploring investment opportunities, I’d love to help. Let’s chat about how these trends could impact your plans and find the best path forward for you.