December 2023 Calgary Real Estate Statistics Recap

Explore the dynamic shifts in Calgary's real estate landscape in our latest blog, delving into the December stats for 2023. Despite a slight easing in sales compared to last year's peak, the market remained robust with 27,416 transactions—significantly exceeding long-term trends and pre-pandemic activity. Notably, a pronounced trend emerged towards more affordable apartment-style condominiums.

According to CREB® Chief Economist Ann-Marie Lurie, higher lending rates impacted housing demand, yet the city experienced resilient activity, driven by strong migration levels, particularly in the affordable housing segment. Throughout the year, low supply levels in comparison to demand, coupled with a persistent 44% decline below the 10-year average in inventory levels, fueled stronger-than-expected price growth.

The months of supply consistently remained below two months for homes priced below $1,000,000, emphasizing the persistent tight conditions in the market. This scarcity contributed to a new record high price for the city. Although the average annual benchmark price growth slowed from 12% in 2022 to nearly 6% in 2023, the market maintained relative strength, especially when compared to some other regions in the country. Dive into the details to gain a comprehensive understanding of Calgary's real estate dynamics at the close of 2023.

Latest Combined Calgary Real Estate Statistics: December 2023

Latest Combined Calgary Real Estate Statistics: December 2023

  • Benchmark Price $570,0010
  • Inventory 2,164
  • Sales to New Listings Ratio 109%
  • Months of Inventory/Supply  1.58 Months of supply (Down 14% Y/Y)

Year to Date Calgary Real Estate Statistics: December 2023

  • Benchmark Price $556,975
  • Sales to New Listings Ratio 81%
  • Months of Inventory/Supply 1.34  Months of supply (Down 20% Y/Y) 

DOM = Number of Days on Market 

As of December 3rd 2023, the average number of days on market for all property types combined was 27 days (YTD) while the month of November saw an average DOM of 33


MLS® Listings in Calgary (New) 

As of December 3rd 2023, the total number of new active listings in the city of Calgary added to the market was 1,248 and in total there have been 34,025 YTD 


Homes Sold in Calgary August 2023

The total number of homes sold for the month of December in Calgary was 1,367 this represents a 20.93% increase Y/Y. The total sales for 2023 are 27,419 which represents a 7.57% decrease Y/Y.  


Average Real Estate Prices in Calgary 

In December 2023 the average price for a detached home in the city of Calgary was $540,141

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Specific community spotlight real estate statistics 

Nolan Hill Detached Homes Statistics 

 Dec-23YTD*Y/Y% †
Sales 3 62 -16.22%
New Listings 3 77 -31.25%
Inventory 10 8 -50.00%
Sales To New Listings Ratio 100.00% 80.52% 21.87%
Benchmark Price 456,500 413,263 12.57%
Median Price 490,000 410,000 7.89%
Average Price 473,333 421,863 8.55%
Average Days on Market 21 24 -14.29%

Copperfield Detached Homes Statistics

 Dec-23YTD*Y/Y% †
Sales 6 119 -36.70%
New Listings 7 154 -32.16%
Inventory 14 13 -38.10%
Sales To New Listings Ratio 85.71% 77.27% -6.70%
Benchmark Price 778,000 784,163 10.37%
Median Price 814,500 800,000 11.89%
Average Price 943,333 823,277 10.29%
Average Days on Market 61 24 -4.00%

 

Legacy Detached Homes Statistics

 Dec-23YTD*Y/Y% †
Sales 10 159 -36.40%
New Listings 10 202 -42.45%
Inventory 14 15 -48.28%
Sales To New Listings Ratio 100.00% 78.71% 10.50%
Benchmark Price 742,900 705,272 5.38%
Median Price 680,000 701,500 3.86%
Average Price 694,250 722,039 4.34%
Average Days on Market 27 19 -9.52%

2023 Greater Calgary Regional Market Statistics

City Centre Calgary Statistics

 Dec-23YTD*Y/Y% †
Sales 385 5,702 11.61%
New Listings 546 8,137 1.47%
Inventory 994 1,092 -18.69%
Sales To New Listings Ratio 70.51% 70.07% 9.98%
Benchmark Price 601,600 590,454 2.29%
Median Price 389,000 417,250 -10.27%
Average Price 559,276 563,734 -1.82%
Average Days on Market 33 34 -17.07%

 

North Calgary Statistics

 Dec-23YTD*Y/Y% †
Sales 210 3,058 -19.34%
New Listings 261 3,654 -21.77%
Inventory 283 271 -32.92%
Sales To New Listings Ratio 80.46% 83.69% 3.12%
Benchmark Price 548,600 528,236 6.14%
Median Price 531,500 500,000 4.17%
Average Price 528,048 505,243 3.14%
Average Days on Market 25 21 -12.50%

 

Northeast Calgary Statistics

 Dec-23YTD*Y/Y% †
Sales 259 3,393 -4.07%
New Listings 332 4,218 -21.44%
Inventory 398 388 -41.57%
Sales To New Listings Ratio 78.01% 80.44% 22.10%
Benchmark Price 486,900 460,954 9.60%
Median Price 472,500 448,000 10.62%
Average Price 466,537 448,344 8.52%
Average Days on Market 27 27 -10.00%

 

 

East Calgary Statistics

 Dec-23YTD*Y/Y% †
Sales 58 822 -9.67%
New Listings 60 950 -17.46%
Inventory 68 79 -41.91%
Sales To New Listings Ratio 96.67% 86.53% 9.45%
Benchmark Price 403,300 374,045 13.48%
Median Price 397,500 380,000 11.76%
Average Price 361,625 359,564 12.37%
Average Days on Market 20 22 -31.25%

 

Southeast Calgary Statistics

 Dec-23YTD*Y/Y% †
Sales 219 3,188 -19.98%
New Listings 239 3,710 -21.58%
Inventory 284 297 -23.85%
Sales To New Listings Ratio 91.63% 85.93% 2.04%
Benchmark Price 561,200 543,563 5.35%
Median Price 515,000 515,000 6.19%
Average Price 554,502 535,249 5.70%
Average Days on Market 31 23 0.00%

 

South Calgary Statistics

 Dec-23YTD*Y/Y% †
Sales 318 4,555 -9.66%
New Listings 350 5,417 -13.11%
Inventory 400 429 -25.13%
Sales To New Listings Ratio 90.86% 84.09% 3.97%
Benchmark Price 551,800 539,954 5.78%
Median Price 536,750 525,000 5.00%
Average Price 518,767 527,099 5.85%
Average Days on Market 29 22 -12.00%

 

 

West Calgary Statistics

 Dec-23YTD*Y/Y% †
Sales 155 2,466 -12.80%
New Listings 194 3,139 -10.67%
Inventory 272 301 -22.42%
Sales To New Listings Ratio 79.90% 78.56% -2.39%
Benchmark Price 691,700 670,200 5.36%
Median Price 610,000 620,000 2.18%
Average Price 669,879 671,764 3.50%
Average Days on Market 24 23 -23.33%

 

Northwest Calgary Statistics

 Dec-23YTD*Y/Y% †
Sales 174 2,801 -13.34%
New Listings 190 3,373 -17.71%
Inventory 241 281 -32.94%
Sales To New Listings Ratio 91.58% 83.04% 5.31%
Benchmark Price 615,100 597,727 6.62%
Median Price 580,000 600,000 7.72%
Average Price 575,711 593,148 6.09%
Average Days on Market 29 23 -11.54%

 

Airdrie Real Estate Statistics

 Dec-23YTD*Y/Y% †
Sales 138 1,757 -26.24%
New Listings 140 2,120 -25.67%
Inventory 191 188 -18.61%
Sales To New Listings Ratio 98.57% 82.88% -0.77%
Benchmark Price 524,500 504,890 4.30%
Median Price 506,750 487,500 2.63%
Average Price 503,835 494,894 5.33%
Average Days on Market 32 25 19.05%
 

 

Calgary Detached Homes Statistics

 Dec-23YTD*Y/Y% †
Sales 1,782 26,053 -8.46%
New Listings 2,193 32,733 -13.54%
Inventory 2,981 3,162 -27.13%
Sales To New Listings Ratio 81.26% 79.59% 5.88%
Benchmark Price 572,700 555,781 5.36%
Median Price 499,000 495,000 4.21%
Average Price 539,935 539,309 4.16%
Average Days on Market 29 26 -10.34%

Calgary Semi-Detached Homes Statistics

 Dec-23YTD*Y/Y% †
Sales 140 2,134 -11.64%
New Listings 179 2,653 -17.12%
Inventory 272 265 -26.18%
Sales To New Listings Ratio 78.21% 80.44% 6.61%
Benchmark Price 628,700 602,918 6.99%
Median Price 582,250 542,000 10.57%
Average Price 630,922 604,228 9.74%
Average Days on Market 27 26 -7.14%

 

Calgary Row Home Statistics

 Dec-23YTD*Y/Y% †
Sales 266 4,307 -13.22%
New Listings 364 4,984 -16.66%
Inventory 406 384 -37.36%
Sales To New Listings Ratio 73.08% 86.42% 4.13%
Benchmark Price 429,100 396,636 12.97%
Median Price 400,000 395,000 13.67%
Average Price 404,102 406,332 13.88%
Average Days on Market 22 22 -24.14%
 

 

Calgary Condominium Statistics 

 Dec-23YTD*Y/Y% †
Sales 560 7,485 26.65%
New Listings 668 9,338 17.09%
Inventory 877 990 -20.99%
Sales To New Listings Ratio 83.83% 80.16% 8.16%
Benchmark Price 320,100 300,281 12.96%
Median Price 293,200 280,000 12.04%
Average Price 315,241 305,932 7.93%
Average Days on Market 28 29 -32.56%

†Year-To-Date, year over year percent change.‡Calgary Census Metropolitan Area includes Calgary, Airdrie, and Rocky View

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