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Calgary Real Estate Board Reports Increases in Sales and Benchmark Price in February 2024

A group of people looking at Real Estate Board Reports.

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

A man is giving a key to a woman in an office, surrounded by Real Estate Board Reports.

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

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