May 2024 Calgary Real Estate Statistics Recap

Welcome to our latest blog, breaking down some real estate statistics for May 2024 in Calgary, offering a detailed snapshot of the city's housing market dynamics. 

In May, Calgary saw 3,092 resale home sales. Although this is nearly one percent lower than last year's record-setting figures, it is 34 percent higher than the long-term average for May. The slight decrease in sales was primarily due to a drop in transactions for lower-priced detached and semi-detached homes, which faced limited supply compared to the previous year.

"Although new listings have increased, much of this growth is in higher price ranges for each property type," explained Ann-Marie Lurie, Chief Economist at CREB®. "Our strong economic situation has supported sales growth in these higher price ranges. However, this month's sales could not offset the declines in the lower price ranges due to a lack of supply choice."

In May, new listings reached 4,333 units, marking an almost 19 percent increase from last year. This rise in new listings relative to sales caused the sales-to-new listings ratio to drop to 71 percent, contributing to a modest year-over-year inventory gain. Despite this increase, inventory levels remained nearly half of what is typical for May, with most gains occurring in homes priced above $700,000.

While inventories did see some improvement this month, seller-friendly conditions persist with only one month of supply available. Several districts report less than one month of supply, while the City Centre noted the highest supply-to-sales ratio at one and a half months. These seller market conditions have driven price growth across all districts in the city. The unadjusted total residential benchmark price in May reached $605,300, nearly one percent higher than the previous month and 10 percent higher than May of last year.

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Latest Combined Calgary Real Estate Statistics: May 2024


Latest Combined Calgary Real Estate Statistics: May 2024

  • Benchmark Price $605,300
  • Inventory 3,402
  • Sales to New Listings Ratio 71%
  • Months of Inventory/Supply  1.10  Months of supply (Up 7% Y/Y)

Year to Date Calgary Real Estate Statistics: May 2024

  • Benchmark Price $589,240
  • Sales to New Listings Ratio 78%
  • Months of Inventory/Supply 1.06  Months of supply (Down 20% Y/Y) 

DOM = Number of Days on Market 

As of June 4th 2024, the average number of days on market for all property types combined was 22 days (YTD) while the month of May saw an average DOM of 19


MLS® Listings in Calgary (New) 

As of June 4th 2024, the total number of new active listings in the city of Calgary added to the market was 4,338 and in total there have been 16,050 YTD 


Homes Sold in Calgary May 2024

The total number of homes sold for the month of May in Calgary was 3,092 this represents a 0.83% Decrease Y/Y. The total sales for 2024 are 12,601 which represents a 9.36% increase Y/Y.  


Average Real Estate Prices in Calgary 

In May 2024 the average price for a detached home in the city of Calgary was $822,873

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Specific community spotlight real estate statistics 

Deer Run May 2024 Detached Homes Statistics 

 May-24YTD*Y/Y% 
Sales 5 27 50.00%
New Listings 7 31 29.17%
Inventory 4 3 50.00%
Sales To New Listings Ratio 71.43% 87.10% 16.13%
Benchmark Price 707,200 669,880 13.14%
Median Price 590,000 655,000 3.97%
Average Price 696,000 681,969 7.49%
Average Days on Market 11 13 -43.48%

 

Southwood May 2024 Detached Homes Statistics

 May-24YTD*Y/Y% 
Sales 4 19 0.00%
New Listings 9 24 33.33%
Inventory 4 2 0.00%
Sales To New Listings Ratio 44.44% 79.17% -25.00%
Benchmark Price 682,400 655,580 14.49%
Median Price 677,500 620,000 5.08%
Average Price 684,750 666,632 14.14%
Average Days on Market 9 10 -61.54%

 

Signal Hill May 2024 Detached Homes Statistics

 May-24YTD*Y/Y% 
Sales 10 43 -4.44%
New Listings 14 51 -16.39%
Inventory 10 6 -33.33%
Sales To New Listings Ratio 71.43% 84.31% 14.29%
Benchmark Price 939,600 893,740 14.87%
Median Price 801,250 880,000 12.82%
Average Price 873,250 930,936 11.85%
Average Days on Market 8 15 -21.05%

Sunridge May 2024 Detached Homes Statistics

 May-24YTD*Y/Y% 
Sales 3 17 0.00%
New Listings 5 21 -8.70%
Inventory 5 3 -25.00%
Sales To New Listings Ratio 60.00% 80.95% 9.53%
Benchmark Price 570,600 558,000 30.68%
Median Price 616,000 590,000 25.53%
Average Price 606,167 576,941 15.59%
Average Days on Market 18 16 -27.27%

 

2024 Greater Calgary Regional Market Statistics

City Centre Calgary May 2024 Statistics

 May-24YTD*Y/Y% 
Sales 730 2,925 18.23%
New Listings 1,113 4,166 9.95%
Inventory 1,138 916 -15.19%
Sales To New Listings Ratio 65.59% 70.21% 7.54%
Benchmark Price 616,000 601,740 4.80%
Median Price 440,000 448,000 2.43%
Average Price 607,065 602,324 5.56%
Average Days on Market 23 27 -25.00%

 

North Calgary May 2024 Statistics

 May-24YTD*Y/Y% 
Sales 317 1,379 5.51%
New Listings 491 1,683 9.64%
Inventory 328 234 -2.09%
Sales To New Listings Ratio 64.56% 81.94% -3.77%
Benchmark Price 572,500 562,180 10.83%
Median Price 580,000 575,000 19.79%
Average Price 572,433 566,057 15.55%
Average Days on Market 14 19 -13.64%

 

Northeast Calgary May 2024 Statistics

 May-24YTD*Y/Y% 
Sales 324 1,477 6.34%
New Listings 475 1,905 12.66%
Inventory 433 327 -6.84%
Sales To New Listings Ratio 68.21% 77.53% -5.61%
Benchmark Price 527,000 513,780 17.07%
Median Price 559,944 522,000 21.37%
Average Price 533,259 511,491 17.62%
Average Days on Market 23 24 -25.00%
 

East Calgary May 2024 Statistics

 May-24YTD*Y/Y% 
Sales 102 403 25.16%
New Listings 150 484 26.70%
Inventory 81 60 -16.67%
Sales To New Listings Ratio 68.00% 83.26% -1.22%
Benchmark Price 441,700 429,560 24.01%
Median Price 441,794 440,000 19.08%
Average Price 410,910 416,187 21.39%
Average Days on Market 13 18 -30.77%
 

Southeast Calgary May 2024 Statistics

 May-24YTD*Y/Y% 
Sales 406 1,540 9.45%
New Listings 491 1,847 12.35%
Inventory 331 269 -5.61%
Sales To New Listings Ratio 82.69% 83.38% -2.57%
Benchmark Price 594,100 578,240 10.62%
Median Price 578,050 561,750 12.35%
Average Price 597,771 580,261 11.91%
Average Days on Market 17 19 -24.00%

 

South Calgary May 2024 Statistics

 May-24YTD*Y/Y% 
Sales 521 2,114 9.03%
New Listings 666 2,526 9.02%
Inventory 460 358 -6.28%
Sales To New Listings Ratio 78.23% 83.69% 0.00%
Benchmark Price 596,400 576,380 10.68%
Median Price 602,000 595,000 13.77%
Average Price 613,031 593,911 13.11%
Average Days on Market 17 20 -13.04%

West Calgary May 2024 Statistics

 May-24YTD*Y/Y% 
Sales 319 1,215 11.67%
New Listings 437 1,522 7.26%
Inventory 304 233 -17.38%
Sales To New Listings Ratio 73.00% 79.83% 4.12%
Benchmark Price 727,100 706,040 10.00%
Median Price 735,500 703,000 12.48%
Average Price 770,440 748,409 11.16%
Average Days on Market 17 20 -16.67%

 

Northwest Calgary May 2024 Statistics

 May-24YTD*Y/Y% 
Sales 360 1,296 7.28%
New Listings 498 1,635 7.85%
Inventory 323 229 -15.81%
Sales To New Listings Ratio 72.29% 79.27% -0.51%
Benchmark Price 664,900 643,620 11.25%
Median Price 672,500 662,500 11.91%
Average Price 658,710 650,366 9.45%
Average Days on Market 15 18 -25.00%
 

 

Airdrie Real Estate May 2024 Statistics

 May-24YTD*Y/Y% 
Sales 210 854 16.51%
New Listings 279 1,032 11.45%
Inventory 210 167 -6.18%
Sales To New Listings Ratio 75.27% 82.75% 4.54%
Benchmark Price 549,600 536,540 10.04%
Median Price 550,050 550,000 17.02%
Average Price 554,578 539,967 11.94%
Average Days on Market 18 23 -14.81%
 

 

Calgary Detached Homes May 2024 Statistics

 May-24YTD*Y/Y% 
Sales 1,385 5,537 4.81%
New Listings 2,039 7,203 4.36%
Inventory 1,609 1,209 -12.96%
Sales To New Listings Ratio 67.93% 76.87% 0.43%
Benchmark Price 761,800 735,520 13.29%
Median Price 730,000 717,500 12.11%
Average Price 822,873 796,051 11.85%
Average Days on Market 17 21 -19.23%
 

 

Calgary Semi-Detached Homes May 2024 Statistics

 May-24YTD*Y/Y% 
Sales 259 1,086 10.82%
New Listings 360 1,361 17.63%
Inventory 275 228 -11.28%
Sales To New Listings Ratio 71.94% 79.79% -5.80%
Benchmark Price 678,000 653,040 12.92%
Median Price 622,500 619,950 15.88%
Average Price 702,960 687,801 14.64%
Average Days on Market 16 22 -24.14%

 

 

Calgary Row Home May 2024 Statistics

 May-24YTD*Y/Y% 
Sales 540 2,119 16.30%
New Listings 689 2,524 17.61%
Inventory 427 340 -8.36%
Sales To New Listings Ratio 78.37% 83.95% -1.12%
Benchmark Price 462,500 444,220 19.70%
Median Price 457,500 458,500 20.66%
Average Price 473,913 468,763 18.69%
Average Days on Market 18 19 -24.00%
 

 

Calgary Condominium May 2024 Statistics 

 May-24YTD*Y/Y% 
Sales 908 3,669 19.24%
New Listings 1,250 4,766 15.23%
Inventory 1,115 879 -9.10%
Sales To New Listings Ratio 72.64% 76.98% 3.47%
Benchmark Price 340,500 327,960 18.12%
Median Price 327,550 320,000 18.52%
Average Price 349,154 344,982 15.81%
Average Days on Market 21 24 -22.58%

*Year-To-Date as of June 4, 2024

 

†Year-To-Date, year over year percent change.

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

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