As we move into 2025 real estate supply will continue to be a dominant theme and how this impacts prices will depend on the type of property listing inventory added.
Last year 2024 ended with a three percent sales decline over 2023, overall sales were just shy of the previous year’s levels as prices for the higher priced properties offset the pullbacks in the lower priced properties due to supply challenges.
“Population gains over the past several years have supported sales activity that has outperformed long-term trends. In 2024, sales would likely have been higher if there was more supply choice, especially in the lower price ranges,” said Ann-Marie Lurie, Chief Economist at CREB®. “That being said, we did start to see shifts occurring in the market in the second half of the year as supply levels started to improve for higher priced homes.”
Should your buy or sell? Let me help you navigate Calgary’s ever changing real estate market, reach out I would be happy to assist you in your real estate journey into the new year.
