Calgary Real Estate Market Report Aug 2023

Prices have risen as a result of historically low stocks and record-high sales in August.

Thanks to a spike in the Calgary condominium market, August sales reached a record high with 2,729 purchases. Despite the high levels announced over the last few months, year-to-date sales are still 15% lower than last year.

While new listings increased in comparison to this time last year, the sales-to-new-listings ratio remained elevated at 87%, preventing any major movement from the low inventory position. Inventory levels in August fell to 3,254 units, a record low for the month and much below the 6,000 units generally available. The combination of low inventories and high sales this month meant that the months of supply remained low.