Calgary home sales down in December but still above long-term trends

In December 2024, Calgary experienced a slight dip in home sales compared to the same month in 2023. The Calgary Real Estate Board (CREB) reported that 1,322 homes were sold, marking a 2.9% decrease from December 2023. When compared to November 2024, sales dropped by 26.3%, which is typical for the holiday season.

Despite this decline, home sales in December remained nearly 20% higher than the city's long-term averages. This indicates that, overall, the housing market in Calgary is performing well above historical trends.

The benchmark price for all home types in December was $583,300. This figure represents a 0.8% decrease from November 2024 but shows a 3.2% increase compared to December 2023. This year-over-year rise suggests that property values in Calgary continue to appreciate.

New listings in December totaled 1,239, a slight 0.7% decrease from the same month in the previous year. This limited supply, combined with steady demand, has contributed to the sustained growth in home prices.

For the entire year of 2024, home sales in Calgary were just below the record levels set in 2023. CREB noted that increased sales in higher-priced homes helped offset declines in the lower-priced segments, which faced supply challenges.

Ann-Marie Lurie, CREB's chief economist, highlighted that Calgary's recent population growth has boosted sales activity beyond long-term trends. She added that sales could have been even higher in 2024 if there had been a greater variety of homes available for buyers.