1,852 new listings, the lowest level of new listings in that month since the late nineties, a trend that has been particularly strong in the detached segment.
In January, the median listed price for detached homes in Calgary reached $599,000, but finding a unit below this price-point is a growing challenge. “Our main struggle would be bidding wars on the houses,” Mr. Gorczyca says, noting that the past two houses they had wanted to bid on sold for $50,000 over the listed price.
According to CREB data, in January roughly one in three active listings in the detached segment were priced between $400,000 and $599,000, yet more than 44 per cent of– a rate roughly two times higher than prior to the pandemic. For this downward trend to shift, Ms. Lurie says, “demand has to pull back enough that inventory can rise.”
According to Jared Chamberlain, a Calgary realtor and broker, buyers in the current market should be “prepared to fight,” as local residents compete against more affluent buyers from outside Alberta.