2024 property assessments: Calgary’s median home now $610,000
The City mailed more than 580,000 notices. Typical residential values rose 10%, and the estimated municipal tax increase for the median home is 7.25%.
Berg Estate Team blog
News & Insights – Page 14
Calgary real estate market news, our monthly market updates and new videos from the Berg Estate Team: Tom Berg and Valery Berg, REALTORS® with eXp Realty.
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Airdrie, Cochrane and Okotoks in 2023: a year defined by low supply
Okotoks inventory averaged 63% below long-term trends. In Airdrie, row and condo prices grew more than twice as fast as detached.
Calgary’s 2023 housing market: strong migration, low supply, record prices
Sales eased from 2022's peak but stayed far above pre-pandemic levels. Apartment prices finally passed their 2014 high, reaching $321,400.
Bank of Canada ends 2023 holding at 5%
Consumption has been near zero for two quarters. The Bank said shelter inflation has picked up with rents and mortgage interest costs.
Airdrie, Cochrane and Okotoks in November 2023: Cochrane loosens up
Airdrie stayed very tight at a 96% ratio. Cochrane and Okotoks gained listings, though inventory remains well below normal.
Calgary condo sales set an annual record with a month to spare
Affordability, higher rents and more new listings drove the surge. The biggest price gains came in the lower-priced North East and East.
Calgary housing market, November 2023: more listings, still a sellers’ market
Row supply rose to 1.6 months after seven months under one. Detached homes above $700,000 are now in more balanced conditions.
CREB Q3 2023 report: 2024 to bring more balance and slower price growth
Alberta's economy is expected to outpace national growth, but CREB warns that shifts in commodity prices and migration are key risks.
Calgary gets $228 million from the federal Housing Accelerator Fund
The deal funds seven initiatives, including faster approvals, secondary suites, office conversions and zoning for more row and townhouses.
Airdrie, Cochrane and Okotoks in October 2023: fewer sales, higher prices
Year-to-date sales are down 22% to 29% in the three towns, mostly because there are too few lower-priced detached homes to buy.
Calgary housing market, October 2023: sales up 17%, listings highest since 2015
Inventory is still over 40% below normal for October. Detached homes over $1 million are the only segment with more supply than last year.
Bank of Canada holds at 5% again, sees inflation at 2% in 2025
September inflation was 3.8%. The Bank expects about 3.5% through mid-2024 and 2% in 2025, and is still prepared to raise rates if needed.