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Feb 2019 CREB Stats

Feb 2019 CREB Stats

Housing market feels the chill as oversupply continues

The effects of Calgary’s economic climate continue to create weak sales activity and elevated inventory in the city’s housing market.

As a result, prices are being affected.

“It is not a surprise that slowing activity in the housing market has persisted into February,” said CREB® chief economist Ann-Marie Lurie. “There has been no substantial change in the economic climate and concerns regarding potential layoffs in the energy sector are weighing on confidence.”

As of February, citywide benchmark prices were $414,400. This is nearly five per cent below last January, slightly lower than last month’s figures and over 10 per cent below highs recorded in 2014.

While the market remains oversupplied, slower sales and price declines do appear to be influencing sellers. New listings this month eased by eight per cent compared to last year for a total of 2,211 units. However, the 976 sales this month were not enough to substantially impact inventories levels, which remain elevated at 5,885 units.

Click here to view the full City of Calgary monthly stats package.
Click here to view the full Calgary region monthly stats package.

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Kelly Heintz

Kelly started her career in Real Estate in 2008 working as a Legal Assistant for a small law firm. In 2011 she started working with a top producing Realtor, and over the next 7 years turned that business into one of the highest performing teams in Calgary. Kelly’s passion, commitment and dedication for what she does makes her the right agent for her clients – regardless of whether they are buying, selling or investing in real estate.

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