Market update archive
Calgary real estate market update: August 2023
From our archive of monthly updates: CREB®’s official numbers for the City of Calgary for August 2023, in plain language.
This is our archived report for August 2023. CREB®’s figures are shown as they were published at the time. Newer numbers are available: see the latest Calgary market update.
Calgary Real Estate Board (CREB®) statistics for August 2023, released Sept. 1, 2023.
August at a glance
- Sales2,729+27.94% vs. Aug. 2022
- New listings3,131+15.19% vs. Aug. 2022
- Homes for sale (inventory)3,254−32.01% vs. Aug. 2022
- Months of supply1.192.24 a year ago
- Benchmark price$570,700+7.90% vs. Aug. 2022
- Average days on market2535 a year ago
Source: CREB®, City of Calgary Monthly Statistics Package, August 2023.
| City of Calgary, all residential | August 2022 | August 2023 | Change (CREB®) |
|---|---|---|---|
| Sales | 2,133 | 2,729 | +27.94% |
| New listings | 2,718 | 3,131 | +15.19% |
| Inventory (homes for sale) | 4,786 | 3,254 | −32.01% |
| Months of supply | 2.24 | 1.19 | −46.86% |
| Sales-to-new-listings ratio | 78.48% | 87.16% | +8.68 pts |
| Benchmark price | $528,900 | $570,700 | +7.90% |
| Median price | $438,400 | $487,000 | +11.09% |
| Average price | $485,173 | $522,548 | +7.70% |
| Average days on market | 35 | 25 | −29.58% |
| Sale price as % of list price | 97.86% | 100.47% | +2.61 pts |
Source: CREB®, City of Calgary Monthly Statistics Package, August 2023, page 5 [1]. Change is CREB®’s year-over-year change; for the two ratios it is the change in percentage points.
From January to August 2023, 19,680 homes sold in Calgary, 14.69% fewer than in the same months of 2022 (23,069) [1].
What these numbers mean. The benchmark price is CREB®’s price for a “typical” home and is the best number for tracking price trends, because the median and average move with the mix of homes that happen to sell in a month. Months of supply is how long today’s inventory would last at the current pace of sales. A lower number usually means a tighter market for buyers.
What CREB® reported
CREB®’s headline for August 2023: “August sees record-high sales amidst historic low inventory, pushing prices higher” (news release, Sept. 1, 2023) [2].
CREB® reported record August sales, again led by condominiums. Inventory fell to a record low for the month, well below the roughly 6,000 units typically available, and months of supply stayed at just over one month. [2]
By type of home
Benchmark price by property type
City of Calgary, August 2023
Benchmark price vs. August 2022
Change from a year earlier
Sales by property type
City of Calgary, August 2023 (change vs. Aug. 2022)
Months of supply by property type
City of Calgary, August 2023
City, all homes: 1.19
| August 2023, City of Calgary | Benchmark price | vs. Aug. 2022 | Sales | Sales vs. Aug. 2022 | Months of supply |
|---|---|---|---|---|---|
| Detached | $696,700 | +10.34% | 1,199 | +12.69% | 1.39 |
| Semi-detached | $623,200 | +10.11% | 197 | +15.88% | 1.25 |
| Row (townhouse) | $413,200 | +15.68% | 457 | +21.87% | 0.82 |
| Apartment condo | $309,100 | +13.51% | 876 | +67.18% | 1.10 |
Source: CREB® [1], page 6.
South and Southeast Calgary
CREB® groups Calgary communities into eight districts. The 15 south Calgary communities we focus on are in two of them, South and South East; see our Calgary Neighbourhood Guide for the full list.
Benchmark price: South vs. South East
CREB® districts, August 2023
SouthSouth East
Months of supply: South vs. South East
CREB® districts, August 2023
SouthSouth East
| August 2023 | South: benchmark | South: vs. last year | South: months of supply | South East: benchmark | South East: vs. last year | South East: months of supply |
|---|---|---|---|---|---|---|
| Detached | $662,400 | +8.68% | 1.18 | $677,100 | +9.56% | 0.97 |
| Semi-detached | $485,700 | +10.66% | 1.23 | $480,000 | +9.66% | 0.60 |
| Row | $367,400 | +22.26% | 0.63 | $416,800 | +13.88% | 0.80 |
| Apartment | $282,000 | +19.39% | 0.75 | $329,100 | +20.15% | 0.64 |
Source: CREB® [1], page 7 (Calgary Districts). In August 2023, CREB® counted 270 detached sales in the South district and 174 in the South East [1].
August over the years
Here is how August compared in Calgary from 2022 to 2023, using CREB®’s August statistics package for each year.
Benchmark price, all residential
City of Calgary, August of each year
Sales, all residential
City of Calgary, August of each year
Want today’s numbers? See our latest Calgary market update, or book a call and we’ll pull the recent sales near you.
Source of the city and district statistics: CREB® (Calgary Real Estate Board), City of Calgary Monthly Statistics Package, August 2023. CREB® is a registered trademark of Calgary Real Estate Board Co-Operative Limited. Figures are shown as CREB® published them for August 2023; CREB® may revise past months in later packages. This update is general market information, not an appraisal or advice on a specific property. Berg Estate Team, eXp Realty · 587-888-2919.
Sources
- CREB®, Monthly Statistics Package, City of Calgary, August 2023 (pages 5–7). CREB® no longer hosts this file (https://www.creb.com/Housing_Statistics/documents/08_2023_Calgary_Monthly_Stats_Package.pdf); archived copy: https://web.archive.org/web/20230908200455id_/https://www.creb.com/Housing_Statistics/documents/08_2023_Calgary_Monthly_Stats_Package.pdf
- CREB®, “August sees record-high sales amidst historic low inventory, pushing prices higher”, news release, Sept. 1, 2023: https://www.creb.com/News/Media_Releases/2023/September/August_sees_record-high_sales_amidst_historic_low_inventory_pushing_prices_higher/