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Home » Real Estate Stats December 2020

Real Estate Stats December 2020

January 4, 2021 By Calgary Real Estate Board CREB

Amidst economic challenges, housing market ends 2020 on a high note

City of Calgary, January 4, 2020 – With December sales of 1,199, this is the highest December total since 2007.

“Housing demand over the second-half of 2020 was far stronger than anticipated and nearly offset the initial impact caused by the shutdowns in spring. Even with the further restrictions imposed in December, it did not have the same negative impact on housing activity like we saw in the earlier part of the year,” said CREB chief economist Ann-Marie Lurie.

Click to view all Calgary real estate stats from December 2020

Attractive interest rates along with prices that remain lower than several years ago have likely supported some of the recovery in the second half of the year. However, it is important to note that annual sales activity declined by one per cent compared to last year and remain well below long-term averages.

New listings in December increased by 11 per cent. However, the number of sales exceeded the number of new listings in December contributing to further declines in inventory.

Reductions in supply and improving demand in the second half of the year have contributed to some of the recent price improvements in the market. However, the recent gain in the benchmark price was not enough to offset earlier pullbacks as the annual residential benchmark price in Calgary declined by one per cent over last year.

The pandemic has resulted in a significant shift in economic conditions, yet the housing market is entering 2021 in far more balanced conditions than we have seen in over five years. This will help provide some cushion for the market moving into 2021, but conditions will continue to vary depending on price range, location, and product type.

November 2020 real estate stats
January 2021 real estate stats

Filed Under: Calgary Real Estate Stats

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