The Calgary Real Estate Board has released its February 2024 statistics for the City of Calgary, which revealed a boost in sales, listings, and average benchmark price.
New listings rose to 2,711 units to enable a growth in sales. There were 2,135 units sold, up from 1,649 in January, for an increase of 22.8% in sales compared to February 2023. The average number of days on the market was 24, down from 34 in January, and a 26.9% drop from February in the previous year.
With the growth in sales, despite the new listings, the months of supply dropped to 1.10, for a 30.2 % drop from February 2023. Inventory numbers in February were 2,355, compared to 2,154 in January, and 2,746 in February 2023.
The benchmark price was $585,000, a 10.3% increase from February 2023’s benchmark price of $530,500.
City of Calgary Statistics by Housing Type
|
|
Sales |
New Listings |
Inventory |
S/NL Ratio |
Months of Supply |
Benchmark Price |
|
Apartment |
638 |
836 |
773 |
76% |
1.21 |
$329,600 |
|
Row |
352 |
457 |
307 |
77% |
0.87 |
$436,500 |
|
Semi |
191 |
223 |
222 |
86% |
1.16 |
$639,100 |
|
Detached |
954 |
1,195 |
1,053 |
80% |
1.10 |
$721,300 |
Statistics from: CREB – Monthly Statistics Package – City of Calgary – February 2024
Calgary Region
The Calgary Real Estate Board also released its Calgary Region monthly statistics for February 2024.
In the surrounding areas, Airdrie’s average price was $529,700, up 10.4% Y/Y, with sales also increasing 36.4% to 135 sales in February 2024. Inventory dropped to 160, down 10.1% Y/Y. Months of supply was 1.19, down 34.1% Y/Y.
In Cochrane, the average price increased 11.2% Y/Y to $548,300, while sales increased 18.2% Y/Y to 65. Inventory was up slightly by 3.1% Y/Y to 133; months of supply was 2.05 in February 2024, down 12.8% Y/Y.
In Okotoks, the average price increased 9.7% Y/Y to $605,500, while sales increased 4.4% Y/Y to 47. Inventory was up 9.4% Y/Y to 58; months of supply was up 4.8% Y/Y to 1.23 in February 2024
