{"id":22877,"date":"2023-07-08T08:00:00","date_gmt":"2023-07-08T12:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=22877"},"modified":"2023-07-07T16:48:33","modified_gmt":"2023-07-07T20:48:33","slug":"creb-june-2023","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/creb-june-2023\/","title":{"rendered":"Another Record Breaking Month in Calgary as Sales and Prices Hit New All-Time High: CREB"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">While home prices continue to break records month-over-month, sales in <a href=\"https:\/\/www.zoocasa.com\/calgary-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Calgary<\/a> have also hit a new all-time peak for the month of June with 3,146 homes sold, according to the Calgary Real Estate Board. The heightened market activity in the area comes in spite of the Bank of Canada recently raising interest rates for the ninth time in 15 months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Enjoying our content? Subscribe to our free<\/em><\/strong><a href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em> weekly newsletter<\/em><\/strong><\/a><strong><em> to get real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Demand for Condo Apartments High, Smashing Last Year\u2019s Sales Numbers<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The record number of sales in the region was driven by a sharp increase in condo apartments. There were 857 sales in June, an increase of 48% compared to last year. Sales have remained consistent with May, when there were 858 sales. The high number of transactions is partly due to the improvement in the number of listings coming to market, with 1,061 apartments listed in June, up 14% from last year.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/below-average-home-prices-canada-may-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Affordable Canadian Regions: Explore Below Average Home Prices and Available Properties<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">However, inventory remains strained as demand continues to outpace it. There were 3,450 homes on the market at the end of June, down 36% year-over-year. As Calgary has become a hotspot for in and out-of-province buyers, new listings and existing supply are being scooped up quickly. In June, 7.8% more homes were listed on the market at the end of June compared to May, and although this wasn\u2019t enough to drastically improve supply, it\u2019s a positive start.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A side effect of the increasing demand and lack of supply is that with more competition for fewer homes, prices continue to rise. Sellers have been reaping the rewards for a few months now. The average home is already the most expensive it has ever been and that price continues to climb, now hitting $564,700, an increase of 1% from the May average price.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"423\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/CREB-April-3-750x423.png\" alt=\"\" class=\"wp-image-22882\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/CREB-April-3-750x423.png 750w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/CREB-April-3-300x169.png 300w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/CREB-April-3-768x433.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/CREB-April-3-1536x865.png 1536w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/CREB-April-3-2048x1154.png 2048w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/CREB-April-3.png 600w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Sales Numbers Cool in Surrounding Cities<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Sales numbers are cooling as prices climb to record highs in <a href=\"https:\/\/www.zoocasa.com\/airdrie-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Airdrie<\/a>, <a href=\"https:\/\/www.zoocasa.com\/cochrane-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Cochrane<\/a> and <a href=\"https:\/\/www.zoocasa.com\/okotoks-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Okotoks<\/a>. There were 221 sales in Airdrie, down 9.8% year-over-year, while Cochrane fell 4.1% to 93 and Okotoks down 2.2% to 87. Even with declining sales numbers, inventory is still incredibly low. Of the three cities, Cochrane is the only one with more than one month of&nbsp;inventory, currently at 1.55.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/spring-survey-2023-interest-rates\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Survey Reveals 71.3% of Canadians Experience Adverse Effects of Increasing Interest Rates<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the drop in sales, home prices are still the highest they have ever been. The average home in Airdrie will cost you $511,100, up 3% year-over-year. In Cochrane, the price is $526,500, a yearly increase of 1.7%, and in Okotoks, it\u2019s $585,300, up 6.1%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ready to buy and\/or sell in Calgary and surrounding cities? <a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\" rel=\"noreferrer noopener\">Give us a call!<\/a> Our real estate agents can answer your questions on mortgage rates, affordable cities, and market conditions in your local market.&nbsp;&nbsp;<\/p>\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Looking for your dream home?<\/div>\n<div class=\"cta-body\">Contact us today to speak to a Realtor in your area<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/sell-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>While home prices continue to break records month-over-month, sales in Calgary have also hit a new all-time peak for the month of June with 3,146 homes sold, according to the Calgary Real Estate Board. The heightened market activity in the area comes in spite of the Bank of Canada recently raising interest rates for the [&hellip;]<\/p>\n","protected":false},"author":119,"featured_media":22880,"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_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"footnotes":""},"categories":[1112,1111,1160],"tags":[],"class_list":["post-22877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alberta","category-canada","category-market-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Another Record Breaking Month in Calgary as Sales and Prices Hit New All-Time High: CREB<\/title>\n<meta name=\"description\" content=\"Calgary has broken records for home prices and sales for the month of June. The average price of a home in the city is the highest it has ever been and there were more sales last month than any other June since records began.\" \/>\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-june-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Another Record Breaking Month in Calgary as Sales and Prices Hit New All-Time High: CREB\" \/>\n<meta property=\"og:description\" content=\"Calgary has broken records for home prices and sales for the month of June. The average price of a home in the city is the highest it has ever been and there were more sales last month than any other June since records began.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/creb-june-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=\"2023-07-08T12:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-07T20:48:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/Zoocasa-Another-Record-Breaking-Month-in-Calgary-as-Sales-and-Prices-Hit-All-Time-High-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\/07\/Zoocasa-Another-Record-Breaking-Month-in-Calgary-as-Sales-and-Prices-Hit-All-Time-High-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=\"3 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-june-2023\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/creb-june-2023\/\"},\"author\":{\"name\":\"Daniel Crook\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/2a4b65285e841ed26e0f85235df85c59\"},\"headline\":\"Another Record Breaking Month in Calgary as Sales and Prices Hit New All-Time High: CREB\",\"datePublished\":\"2023-07-08T12:00:00+00:00\",\"dateModified\":\"2023-07-07T20:48:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/creb-june-2023\/\"},\"wordCount\":498,\"publisher\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\"},\"articleSection\":[\"Alberta\",\"Canada\",\"Market Insights\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/creb-june-2023\/\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/creb-june-2023\/\",\"name\":\"Another Record Breaking Month in Calgary as Sales and Prices Hit New All-Time High: CREB\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#website\"},\"datePublished\":\"2023-07-08T12:00:00+00:00\",\"dateModified\":\"2023-07-07T20:48:33+00:00\",\"description\":\"Calgary has broken records for home prices and sales for the month of June. 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