Huge boom recorded in Calgary home sales

Home sales in Calgary have recorded a huge boom. According to the Calgary Real Estate Board, the city sold 1,650 homes in January, a 37.7 percent year-over-year increase.

There was a 15.4 per cent increase in newly listed houses in the city. The unadjusted residential benchmark price rose to $572,300, up 10 percent from January 2023.

Despite the increase in new listings, Calgary's low inventory situation remains with 2,150 units on the market, a record low since January 2006, the board says.

A substantial gain was seen in the sale of properties such as apartments, which are 54 per cent higher than in January, 2023.

According to the board, there was an increase in new listings for various homes priced over $500,000, but the biggest gains were in the $700,000-plus category.