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
Free Calgary Real Estate Monthly Market Report
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Specific community spotlight real estate statistics
Nolan Hill Detached Homes Statistics
| Dec-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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-23 | YTD* | 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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