City of Calgary, February 3, 2020 – Housing market conditions continue to follow similar trends to last year,
with gains in sales.
At the same time, there have been further reductions in new listings, inventory and more declines in prices.
January sales activity was 863 units, nearly eight percent higher than last year’s levels. While sales remained
well below January activity recorded before 2014, they remain consistent with activity recorded over the
past five years.
“A persistent slowdown in the energy sector has resulted in a reset in many aspects of our economy. This
includes the housing market,” said CREB® chief economist Ann-Marie Lurie.
“We continue to see the slow adjustment to more balanced conditions, but it will take time before that starts
to translate into price stability.”
Citywide unadjusted benchmark prices were $417,100 in January. This is slightly lower than the previous
month and nearly one percent lower than last year’s levels.
Benchmark prices eased, but there were some modest improvements in both the average and median prices.
This is likely a reflection of some changes in the distribution of sales.