Calgary Real Estate Market Update - December 2023
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Discover the latest trends in the Calgary real estate market with our comprehensive update for December 2023. In this video, we dive deep into the current state of the market, including a significant 40% increase in new listings compared to last year and a steady rise in prices across various property types.
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Video Recap for Property Types in Calgary
1. Detached Homes:
There has been an 18% increase in new listings compared to November 2022.
Inventory levels are down by 10% from last year and 9% from the previous month.
Benchmark price flirted with the $700,000 range, ending at $699,000.
Detached homes under $1 million are in a seller's market, while those over $1 million are in a buyer's market.
2. Semi-Detached Homes:
There was a 38% increase in new listings compared to the previous year.
Inventory levels decreased by only 5%, indicating strong sales.
Benchmark prices remained stable at around $628,500.
Sales in the $300-$400,000 range dropped significantly, indicating a shift to higher price brackets.
Properties over $1 million are in a strong buyer's market, with limited sales.
3. Townhomes:
Experienced a 21% increase in benchmark prices over 2022.
There was a 40% increase in new listings.
Inventory only increased by 7%, despite the surge in new listings.
Significant sales growth in the $400-$500,000 range.
Townhomes over $500,000 are in a buyer's market, with much slower sales compared to those under $500,000.
4. Condo Apartments:
Witnessed an 18% increase in benchmark prices over the last year.
Sales increased by 25%, with a 7% drop in inventory.
Significant sales growth in the $200-$300,000 range.
Condos under $500,000 are in a seller's market, while those over $500,000 face slower sales.
Overall, the Calgary real estate market shows a trend of increasing prices, with varying dynamics across different property types and price ranges. Detached and semi-detached homes are seeing shifts to higher price brackets, townhomes are gaining popularity, and condo apartments are becoming more attractive investments.
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Chapters:
0:00 - Calgary Real Estate Market Update - December 2023
5:33 - Bank of Canada December Announcement Reaction
6:34 - I NEED YOUR HELP...
7:16 - Detached Homes in Calgary
9:51 - Semi-Detached Homes in Calgary
12:49 - Townhomes in Calgary
15:54 - Apartments in Calgary