Market update archive
Calgary real estate market update: January 2024
From our archive of monthly updates: CREB®’s official numbers for the City of Calgary for January 2024, in plain language.
This is our archived report for January 2024. 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 January 2024, released Feb. 1, 2024.
January at a glance
- Sales1,650+37.73% vs. Jan. 2023
- New listings2,137+15.39% vs. Jan. 2023
- Homes for sale (inventory)2,150−12.28% vs. Jan. 2023
- Months of supply1.302.05 a year ago
- Benchmark price$572,300+10.04% vs. Jan. 2023
- Average days on market3442 a year ago
Source: CREB®, City of Calgary Monthly Statistics Package, January 2024.
| City of Calgary, all residential | January 2023 | January 2024 | Change (CREB®) |
|---|---|---|---|
| Sales | 1,198 | 1,650 | +37.73% |
| New listings | 1,852 | 2,137 | +15.39% |
| Inventory (homes for sale) | 2,451 | 2,150 | −12.28% |
| Months of supply | 2.05 | 1.30 | −36.31% |
| Sales-to-new-listings ratio | 64.69% | 77.21% | +12.52 pts |
| Benchmark price | $520,100 | $572,300 | +10.04% |
| Median price | $465,000 | $523,250 | +12.53% |
| Average price | $508,515 | $569,361 | +11.97% |
| Average days on market | 42 | 34 | −20.66% |
| Sale price as % of list price | 98.50% | 99.87% | +1.37 pts |
Source: CREB®, City of Calgary Monthly Statistics Package, January 2024, page 5 [1]. Change is CREB®’s year-over-year change; for the two ratios it is the change in percentage points.
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 January 2024: “January sees strong sales fueled by boost in new listings” (news release, Feb. 1, 2024) [2].
CREB® reported that January sales rose well above last year’s level and long-term trends, made possible by more new listings, especially for homes priced above $700,000. Even so, inventory stayed near the January record low set in 2006, nearly 49 per cent below the long-term average. [2]
By type of home
Benchmark price by property type
City of Calgary, January 2024
Benchmark price vs. January 2023
Change from a year earlier
Sales by property type
City of Calgary, January 2024 (change vs. Jan. 2023)
Months of supply by property type
City of Calgary, January 2024
City, all homes: 1.30
| January 2024, City of Calgary | Benchmark price | vs. Jan. 2023 | Sales | Sales vs. Jan. 2023 | Months of supply |
|---|---|---|---|---|---|
| Detached | $702,200 | +12.55% | 734 | +30.84% | 1.35 |
| Semi-detached | $625,000 | +11.29% | 131 | +18.02% | 1.67 |
| Row (townhouse) | $426,400 | +19.71% | 297 | +42.11% | 0.87 |
| Apartment condo | $324,000 | +18.68% | 488 | +53.94% | 1.40 |
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, January 2024
SouthSouth East
Months of supply: South vs. South East
CREB® districts, January 2024
SouthSouth East
| January 2024 | South: benchmark | South: vs. last year | South: months of supply | South East: benchmark | South East: vs. last year | South East: months of supply |
|---|---|---|---|---|---|---|
| Detached | $667,300 | +10.79% | 1.00 | $673,700 | +10.23% | 1.40 |
| Semi-detached | $493,900 | +12.71% | 0.78 | $478,400 | +10.33% | 3.00 |
| Row | $376,600 | +24.54% | 0.63 | $433,400 | +16.51% | 0.98 |
| Apartment | $297,000 | +23.90% | 0.75 | $342,700 | +23.23% | 0.96 |
Source: CREB® [1], page 7 (Calgary Districts). In January 2024, CREB® counted 167 detached sales in the South district and 85 in the South East [1].
January over the years
Here is how January compared in Calgary from 2022 to 2024, using CREB®’s January statistics package for each year.
Benchmark price, all residential
City of Calgary, January of each year
Sales, all residential
City of Calgary, January 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, January 2024. CREB® is a registered trademark of Calgary Real Estate Board Co-Operative Limited. Figures are shown as CREB® published them for January 2024; 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, January 2024 (pages 5–7). CREB® no longer hosts this file (https://www.creb.com/Housing_Statistics/documents/01_2024_Calgary_Monthly_Stats_Package.pdf); archived copy: https://web.archive.org/web/20240202003947id_/https://www.creb.com/Housing_Statistics/documents/01_2024_Calgary_Monthly_Stats_Package.pdf
- CREB®, “January sees strong sales fueled by boost in new listings”, news release, Feb. 1, 2024: https://www.creb.com/News/Media_Releases/2024/February/January_sees_strong_sales_fueled_by_boost_in_new_listings/