Calgary’s housing market in 2024 is experiencing a mixture of stabilization and growth across various property segments. As of October 2024, the average price of resale homes in the city was around $577,700, marking a 5.2% year-over-year increase. There has been a notable increase in the sale of higher-priced homes, particularly those priced above $600,000. Meanwhile, the market is becoming more balanced in the upper price brackets, with inventory levels improving and more listings above $600,000 coming onto the market.
Despite the cooling of the overall Canadian housing market, Calgary remains resilient. Experts predict a price increase of around 6.5% in 2024, with the median home price expected to rise to approximately $711,600 by year’s end. Affordable homes, particularly detached single-family units, are becoming scarcer, leading many first-time buyers to opt for condominiums.
For those interested in specific property types, Calgary’s housing market offers varying conditions. The luxury segment, including homes over $1 million, has seen slower sales, while mid-range homes are still in high demand. As affordability remains a challenge, demand in the condominium market is anticipated to remain strong, especially for units priced between $300,000 and $500,000.
If you’re interested in more detailed information about specific listings or trends, it’s worth checking with local real estate platforms and agents for the latest on available homes.