{"id":21621,"date":"2023-04-04T13:01:58","date_gmt":"2023-04-04T17:01:58","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=21621"},"modified":"2023-04-04T13:02:00","modified_gmt":"2023-04-04T17:02:00","slug":"creb-march-2023","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/creb-march-2023\/","title":{"rendered":"Real Estate Sellers Benefit as Calgary Inventory Hits Record March Low"},"content":{"rendered":"\n<p>Inventory in <a href=\"https:\/\/www.zoocasa.com\/calgary-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Calgary <\/a>is at its lowest in 17 years, according to the Calgary Real Estate Board. There were 3,233 homes available for sale at the end of March, the lowest figures for the month since 2006.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Low Stock Indicates a Great Opportunity for Prospective Sellers&nbsp;<\/h2>\n\n\n\n<p>Sellers are reaping the benefits of the incredibly low inventory. There are currently just 1.33 months of supply in Calgary. Lower supply means greater competition which is driving home prices upwards. The average home price has grown by just over 2% from February to $541,800, but more interesting to note is that the price is higher than it was this time last year by over one percent, when interest rates were at their lowest. The record home price in Calgary was set in May last year at $546,000, so if the tight conditions continue it could set a new record in the near future.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/below-average-home-prices-canada\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Canadian Regions With Below Average Home Prices: View Homes For Sale<\/strong><\/a><\/li><\/ul>\n\n\n\n<p>Despite the year-over-year decline, there has been an improvement in new listings from February, with a 38.9% increase to 3,318. Sales have increased by 39.7%, contributing towards both the declining inventory and the increase in prices. Calgary is still one of Canada\u2019s more affordable markets, with the average price well below Canada\u2019s benchmark of $703,400. Migration to the area has supported much of the current demand.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Surrounding Communities are Feeling the Effects of the Inventory Strain<\/h2>\n\n\n\n<p>Local markets are feeling the strain of supply, with Okotoks and <a href=\"https:\/\/www.zoocasa.com\/airdrie-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Airdrie<\/a> suffering the most. Okotoks had only 61 homes for sale at the end of March, among the lowest levels ever recorded for the month. Airdrie\u2019s stock of 206 is the area\u2019s lowest March figure since 2014. <a href=\"https:\/\/www.zoocasa.com\/cochrane-on-real-estate\">Cochrane<\/a> is a bit of an outlier, however, with much greater supply than last year\u2019s low levels, with 155 homes available, an increase of 78.2%.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/median-income-2023-canada\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Where a Median Income Household Can Afford to Buy a House in Canada in 2023<\/strong><\/a><\/li><\/ul>\n\n\n\n<p>Month-over-month, sales and home prices have improved in each community. Airdrie had 154 home sales, up 54% from February, while Cochrane and Okotoks had 87 and 55 sales respectively, up by 58.2% and 22.2%. Cochrane\u2019s price is now $501,900, up 1.8%. Okotoks\u2019 price has improved by 1.1% to $561,600, while Airdrie has had the greatest increase, up 2.1% to $497,500.<\/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\n<p>If you\u2019re looking into the Calgary market, why not <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\">give us a call<\/a>? We can find the right home for you at the perfect price.<\/p>\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>Inventory in Calgary is at its lowest in 17 years, according to the Calgary Real Estate Board. There were 3,233 homes available for sale at the end of March, the lowest figures for the month since 2006. Low Stock Indicates a Great Opportunity for Prospective Sellers&nbsp; Sellers are reaping the benefits of the incredibly low [&hellip;]<\/p>\n","protected":false},"author":119,"featured_media":21622,"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":[1112,1111,33],"tags":[],"class_list":["post-21621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alberta","category-canada","category-real-estate-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Real Estate Sellers Benefit as Calgary Inventory Hits Record March Low<\/title>\n<meta name=\"description\" content=\"Calgary real estate inventory is at the lowest it&#039;s been in 17 years for the month of March. This low inventory means sellers are reaping the benefits in the early Spring market. Read more in our full report on Calgary real estate this month.\" \/>\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-march-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Real Estate Sellers Benefit as Calgary Inventory Hits Record March Low\" \/>\n<meta property=\"og:description\" content=\"Calgary real estate inventory is at the lowest it&#039;s been in 17 years for the month of March. This low inventory means sellers are reaping the benefits in the early Spring market. Read more in our full report on Calgary real estate this month.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/creb-march-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=\"2023-04-04T17:01:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-04T17:02:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/04\/Zoocasa_Real_Estate_Sellers_Benefit_as_Calgary_Inventory_Hits_Record_March_Low_Thumbnail.png\" \/>\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\/png\" \/>\n<meta name=\"author\" content=\"Daniel Crook\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/04\/Zoocasa_Real_Estate_Sellers_Benefit_as_Calgary_Inventory_Hits_Record_March_Low_Thumbnail.png\" \/>\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-march-2023\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/creb-march-2023\/\"},\"author\":{\"name\":\"Daniel Crook\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/2a4b65285e841ed26e0f85235df85c59\"},\"headline\":\"Real Estate Sellers Benefit as Calgary Inventory Hits Record March Low\",\"datePublished\":\"2023-04-04T17:01:58+00:00\",\"dateModified\":\"2023-04-04T17:02:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/creb-march-2023\/\"},\"wordCount\":716,\"publisher\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\"},\"articleSection\":[\"Alberta\",\"Canada\",\"Real Estate News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/creb-march-2023\/\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/creb-march-2023\/\",\"name\":\"Real Estate Sellers Benefit as Calgary Inventory Hits Record March Low\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#website\"},\"datePublished\":\"2023-04-04T17:01:58+00:00\",\"dateModified\":\"2023-04-04T17:02:00+00:00\",\"description\":\"Calgary real estate inventory is at the lowest it's been in 17 years for the month of March. 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