{"id":21202,"date":"2023-03-03T08:00:00","date_gmt":"2023-03-03T13:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=21202"},"modified":"2023-03-03T09:42:34","modified_gmt":"2023-03-03T14:42:34","slug":"creb-feb-2023","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/creb-feb-2023\/","title":{"rendered":"Calgary Inventory Hits 17 Year Low: CREB"},"content":{"rendered":"\n<p>While sales and the number of new listings entering the market have improved as expected this February, inventory levels continue to stagnate making conditions difficult for prospective buyers. With just 2,750 homes available for sale in <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/calgary-ab-real-estate\" target=\"_blank\">Calgary<\/a>, inventory is at its lowest level for the month of February since 2006.<\/p>\n\n\n\n<p><strong><em>Enjoying our content? Subscribe to our free<\/em><\/strong><a rel=\"noreferrer noopener\" href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\"><strong><em>&nbsp;weekly newsletter<\/em><\/strong><\/a><strong><em>&nbsp;to get Canadian real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Number of Sales and New Listings are Still Far From Last Year\u2019s Record Highs<\/h2>\n\n\n\n<p>There were 1,740 sales in February and 2,389 new listings, up 45.1% and 29% respectively. On a month-over-month basis, these numbers are improving and signaling more interest in the market, however, compared to last year\u2019s record highs, sales are down 47.2%, while new listings are down by 48.6%.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/calgary-most-competitive\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Calgary Region Ranked: The Most and Least Competitive Markets<\/strong><\/a><\/li><\/ul>\n\n\n\n<p>Demand for row houses has significantly grown. There were 315 sales in February of this property type, an increase of 50.7% from January. It\u2019s the largest increase of any property type this month. While the figures are still down year-over-year &#8211; sales numbers are down 41.2% compared to February 2022  &#8211;&nbsp; demand is still relatively strong as the interest for more affordable property types continues to grow due to higher borrowing costs.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Row Houses For Sale in Calgary<\/h3>\n\n\n\n<!-- iframe plugin v.4.5 wordpress.org\/plugins\/iframe\/ -->\n<iframe loading=\"lazy\" src=\"https:\/\/www.zoocasa.com\/team\/listings-widget?rental=false&#038;status=available&#038;slug=calgary-ab&#038;latitude=51.0350258582772&#038;longitude=-114.052014803399&#038;zoom=14&#038;detached=false&#038;semidetached=false&#038;attached=false&#038;townhouse=true&#038;condo=false&#038;bedrooms=0%2B&#038;bathrooms=1%2B&#038;parking-spaces=0%2B&#038;open-house=false&#038;garage=false&#038;pool=false&#038;fireplace=false&#038;waterfront=false&#038;single-family=false&#038;basement-apartment=false&#038;duplex=false&#038;triplex=false&#038;fourplex=false&#038;locker=any&#038;area-name=Calgary%2C%20AB&#038;include-private-listings=true\" style=\"min-height: 500px;\" width=\"100%\" height=\"500\" scrolling=\"yes\" class=\"iframe-class\" frameborder=\"0\"><\/iframe>\n\n\n\n\n<h2 class=\"wp-block-heading\">Growing Demand and Tight Inventory Driving Price Growth&nbsp;&nbsp;<\/h2>\n\n\n\n<p>With inventory numbers still below long-term trends and demand growing as the Spring market approaches, home prices are on the rise. Prices for each home type have not only trended up month-over-month but are also up compared to 2022 as well. The total residential benchmark price is $530,900, a&nbsp;1.5% increase year-over-year, and a 1.9% increase month-over-month. Prices of each property type have also increased compared to last year\u2019s figures, with the biggest improvement in condo apartments and row prices. The average price of a condo apartment is up 11.3% to $286,000, and row prices are up 9.1% to $369,700. The more affordable property types are seeing more action, and prices are likely to continue rising if both the demand and lack of inventory remain.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <a href=\"https:\/\/www.zoocasa.com\/blog\/buy-in-calgary\/\" target=\"_blank\" rel=\"noreferrer noopener\">4 Reasons to Buy a Home in Calgary, Alberta<\/a><\/strong><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Sales Numbers are Improving Across Local Markets<\/h2>\n\n\n\n<p>Prices in the local markets are up, as the tight supply means demand is pushing buyers into forking out a little more to secure a home. Prices in Airdrie grew&nbsp; 2.6% month-over-month, but also suffered a minor dip of 0.2% year-over-year.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <a href=\"https:\/\/www.zoocasa.com\/blog\/family-neighbourhoods-calgary\/\" target=\"_blank\" rel=\"noreferrer noopener\">Three of the Top Family Friendly Neighbourhoods in Calgary<\/a><\/strong><\/li><\/ul>\n\n\n\n<p>Sales are up in Airdrie, Cochrane, and Okotoks since January. There were 100 sales in Airdrie, 55 in Cochrane, and 45 in Okotoks, up 19%, 2.8%, and 60.7% respectively. Okotoks is the only city of the three that has experienced an improvement in inventory levels, as the rest of the cities wrestle with record-low figures. There were 56 homes available in Okotoks at the end of the month, an increase of 5.6% from January.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Homes for Sale in Airdrie, Alberta<\/h3>\n\n\n\n<!-- iframe plugin v.4.5 wordpress.org\/plugins\/iframe\/ -->\n<iframe loading=\"lazy\" src=\"https:\/\/www.zoocasa.com\/team\/listings-widget?rental=false&#038;status=available&#038;slug=airdrie-ab&#038;latitude=51.2867436374698&#038;longitude=-114.007281398718&#038;zoom=14&#038;detached=true&#038;semidetached=true&#038;attached=true&#038;townhouse=true&#038;condo=true&#038;bedrooms=0%2B&#038;bathrooms=1%2B&#038;parking-spaces=0%2B&#038;open-house=false&#038;garage=false&#038;pool=false&#038;fireplace=false&#038;waterfront=false&#038;single-family=false&#038;basement-apartment=false&#038;duplex=false&#038;triplex=false&#038;fourplex=false&#038;locker=any&#038;area-name=Airdrie%2C%20AB&#038;include-private-listings=true\" style=\"min-height: 500px;\" width=\"100%\" height=\"500\" scrolling=\"yes\" class=\"iframe-class\" frameborder=\"0\"><\/iframe>\n\n\n\n\n<h3 class=\"wp-block-heading\">Homes for Sale in Cochrane, Alberta<\/h3>\n\n\n\n<!-- iframe plugin v.4.5 wordpress.org\/plugins\/iframe\/ -->\n<iframe loading=\"lazy\" src=\"https:\/\/www.zoocasa.com\/team\/listings-widget?rental=false&#038;status=available&#038;slug=cochrane-ab&#038;latitude=51.184932586175&#038;longitude=-114.46902204716&#038;zoom=14&#038;detached=true&#038;semidetached=true&#038;attached=true&#038;townhouse=true&#038;condo=true&#038;bedrooms=0%2B&#038;bathrooms=1%2B&#038;parking-spaces=0%2B&#038;open-house=false&#038;garage=false&#038;pool=false&#038;fireplace=false&#038;waterfront=false&#038;single-family=false&#038;basement-apartment=false&#038;duplex=false&#038;triplex=false&#038;fourplex=false&#038;locker=any&#038;area-name=Cochrane%2C%20AB&#038;include-private-listings=true\" style=\"min-height: 500px;\" width=\"100%\" height=\"500\" scrolling=\"yes\" class=\"iframe-class\" frameborder=\"0\"><\/iframe>\n\n\n\n\n<h3 class=\"wp-block-heading\">Homes for Sale in Okotoks, Alberta<\/h3>\n\n\n\n<!-- iframe plugin v.4.5 wordpress.org\/plugins\/iframe\/ -->\n<iframe loading=\"lazy\" src=\"https:\/\/www.zoocasa.com\/team\/listings-widget?rental=false&#038;status=available&#038;slug=okotoks-ab&#038;latitude=50.7263602328101&#038;longitude=-113.961997751106&#038;zoom=14&#038;detached=true&#038;semidetached=true&#038;attached=true&#038;townhouse=true&#038;condo=true&#038;bedrooms=0%2B&#038;bathrooms=1%2B&#038;parking-spaces=0%2B&#038;open-house=false&#038;garage=false&#038;pool=false&#038;fireplace=false&#038;waterfront=false&#038;single-family=false&#038;basement-apartment=false&#038;duplex=false&#038;triplex=false&#038;fourplex=false&#038;locker=any&#038;area-name=Okotoks%2C%20AB&#038;include-private-listings=true\" style=\"min-height: 500px;\" width=\"100%\" height=\"500\" scrolling=\"yes\" class=\"iframe-class\" frameborder=\"0\"><\/iframe>\n\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Looking for your dream home in Alberta?<\/div>\n<div class=\"cta-body\">Contact us today to talk to a Realtor in your area<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>While sales and the number of new listings entering the market have improved as expected this February, inventory levels continue to stagnate making conditions difficult for prospective buyers. With just 2,750 homes available for sale in Calgary, inventory is at its lowest level for the month of February since 2006. Enjoying our content? Subscribe to [&hellip;]<\/p>\n","protected":false},"author":119,"featured_media":21225,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override":[{"single_blog_custom":"","sidebar":"","second_sidebar":"","share_position":"","share_float_style":"","post_date_format":"","post_date_format_custom":"","post_reading_time_wpm":"","zoom_button_out_step":"1","zoom_button_in_step":"1","number_popup_post":"1"}],"image_override":[{"single_post_thumbnail_size":"","single_post_gallery_size":""}],"trending_post_position":"","trending_post_label":"","sponsored_post_label":"","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo":"","sponsored_post_desc":""},"jnews_primary_category":{"id":""},"footnotes":""},"categories":[1112,1160],"tags":[],"class_list":["post-21202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alberta","category-market-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Calgary Inventory Hits 17 Year Low: CREB | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"Demand for real estate in Calgary is growing as the Spring market approaches. Prices of homes in Calgary are growing, read on to learn how much.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zoocasa.com\/blog\/creb-feb-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Calgary Inventory Hits 17 Year Low: CREB | Zoocasa Blog\" \/>\n<meta property=\"og:description\" content=\"Demand for real estate in Calgary is growing as the Spring market approaches. Prices of homes in Calgary are growing, read on to learn how much.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/creb-feb-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Zoocasa Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Zoocasa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-03T13:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-03T14:42:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/03\/Zoocasa_Calgary_Inventory_Hits_17_Year_Low_Hero.webp.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Daniel Crook\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:site\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Daniel Crook\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/creb-feb-2023\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/creb-feb-2023\/\"},\"author\":{\"name\":\"Daniel Crook\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/2a4b65285e841ed26e0f85235df85c59\"},\"headline\":\"Calgary Inventory Hits 17 Year Low: CREB\",\"datePublished\":\"2023-03-03T13:00:00+00:00\",\"dateModified\":\"2023-03-03T14:42:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/creb-feb-2023\/\"},\"wordCount\":891,\"publisher\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\"},\"articleSection\":[\"Alberta\",\"Market Insights\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/creb-feb-2023\/\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/creb-feb-2023\/\",\"name\":\"Calgary Inventory Hits 17 Year Low: CREB | Zoocasa Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#website\"},\"datePublished\":\"2023-03-03T13:00:00+00:00\",\"dateModified\":\"2023-03-03T14:42:34+00:00\",\"description\":\"Demand for real estate in Calgary is growing as the Spring market approaches. 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