17.12°C Vancouver

Feb 2, 2024 4:49 PM - Mandeep Sandhu - Connect Newsroom

Huge boom recorded in Calgary home sales

Share On
huge-boom-recorded-in-calgary-home-sales
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.

Calgary’s housing market posted a strong start to 2024, with 1,650 homes sold in January – a 37.7 per cent increase compared with the same month last year, according to the Calgary Real Estate Board (CREB).

The unadjusted residential benchmark price rose to $572,300, up 10 per cent year-over-year. Apartments led the growth, with sales up 54 per cent from January 2023.

Despite more homes hitting the market – new listings climbed 15.4 per cent – supply remains tight. With just 2,150 active listings, Calgary recorded its lowest January inventory since 2006.

CREB analysts say much of the demand is focused on higher-value homes. Properties priced above $700,000 saw the largest increase in new listings and sales, while gains were more modest in mid-range categories.

Economists warn the imbalance could further challenge affordability. Realtor Kush Sidhu told Connect Newsroom that continued population growth and interprovincial migration are pushing demand faster than supply. “Without a significant increase in construction, we’ll keep seeing upward price pressure,” she said.

Local buyers are already feeling the squeeze. Ramneek Sangha, a first-time buyer searching in northeast Calgary, said rising prices have forced him to delay. “Every month the numbers go up. Even condos that were affordable last year are getting out of reach.”

Latest news

canadas-dabrowski-and-partner-routliffe-win-u-s-open-womens-doubles-title
EnglishSep 05, 2025

Canada's Dabrowski and partner Routliffe win U.S. Open women's doubles title

Canadian tennis player Gabriela Dabrowski has won the US Open Grand Slam title with her New Zealand partner Erin Rutliff. The Canadian player won the women's doubles title in straight sets with her partner. Together, the two defeated the pair of Taylor Townsend and Katerina Siniakova 6-4, 6-4. Earlier, Gabriela Dabrowski also won the US Open title in 2023. Pawan Sahni, of Newton Tennis Club in Surrey, says “the win is a boost for Canadian tennis.” He added, on one hand, just a few weeks ago, young player Victoria Mboko won the Canadian Open title, and now, with Canada's senior player win
BCSep 05, 2025

Coquihalla Highway reopened following wildfire closure

The Coquihalla Highway (Highway 5) between Hope and Merritt has reopened in both directions following a closure caused by the Mine Creek wildfire. Due to the proximity of the fire, drivers should be prepared for the Coquihalla Highway to be closed with minimal notice. Drivers are advised to not stop in the fire zone. Intermittent lane closures can be expected as crews continue to assess and repair roadside damage, and visibility is reduced due to wildfire smoke. Drivers should also be prepared for an increased risk of wildlife presence due to fire damage to wildlife-exclusion fencing on this s
police-investigate-early-morning-shots-fired-in-south-surrey
CanadaSep 05, 2025

Police Investigate Early Morning Shots Fired in South Surrey

Surrey Police Service (SPS) is investigating an early morning shooting that occurred in South Surrey. On September 5, 2025, at approximately 3:50 am, SPS responded to reports of shots fired in the 14300 block of 28 Avenue, Surrey. Upon arrival, members located numerous shell casings on 28 Avenue. It does not appear that any residences were damaged and nobody was injured. SPS Frontline Investigation Support (FLIS) Team are attending and have taken conduct of the investigation. Investigators believe this incident is related to an ongoing extortion investigation.
ministers-statement-on-the-cowichan-valley-transit-labour-dispute
BCSep 05, 2025

Special mediator appointed to resolve Cowichan Valley transit labour dispute

Jennifer Whiteside, Minister of Labour, has issued the following statement on the Cowichan Valley transit labour dispute: “This strike has been deeply disruptive to people living in the Cowichan Valley, who rely on transit to get to work, go to school, attend medical appointments and access everyday services. “This dispute has gone on for far too long. There’s a real urgency for the parties to get back to the table, find a fair resolution and get transit services back on the road. “To help the parties resolve the ongoing labour dispute, I have appointed Vince Ready as a special mediato
elon-musks-neuralink-brain-chip-implanted-into-two-quadriplegic-canadian-patients
CanadaSep 05, 2025

Elon Musk's Neuralink brain chip implanted into two quadriplegic Canadian patients

Two Canadian patients with spinal cord injuries have received Neuralink brain implants that have allowed them to control a computer with their thoughts. They are part of the first clinical trial outside of the United States to test the safety and effectiveness of Elon Musk's Neuralink wireless brain chip, which he introduced to the public in 2020, and was first implanted in a paralyzed American in 2024. The Canadian men, both around 30 years old – one from Ontario, the other from Alberta – have limited or no ability to use their hands. Dr. Andres Lozano, a neurosurgeon at University Health

Related News