Calgary home sales down in December but still above long-term trends: board

Calgary home sales declined in December from the previous year's levels but remained nearly 20 per cent higher than long-term trends.

The Calgary Real Estate Board says 1,322 homes changed hands last month, which was 2.9 per cent lower than December 2023. On a month-over-month basis, home sales were down 26.3 per cent from November levels.

The benchmark price across all home types was $583,300 for December, around 0.8 per cent lower than the previous month but 3.2 per cent higher than December 2023.

There were 1,239 new listings on the market last month, 0.7 per cent lower than a year earlier.

The board says overall sales in 2024 came just shy of reaching last year’s levels, as gains for higher-priced homes offset pullbacks in the lower price ranges amid supply challenges.

CREB's chief economist Ann-Marie Lurie says Calgary's population gains in recent years have helped sales activity outperform long-term trends, but sales would have likely been higher last year had there been more supply choice.

This report by The Canadian Press was first published Jan. 2, 2025.