Calgary House Market Winter 2023

Here's the straight goods on what's going on:    Single detached homes have seen a slight decrease in prices but not like cities like Vancouver or Toronto have experienced.  Throughout the fall, we saw a drop in the number of sales however we also saw a drop in the number of properties being listed and its this tension that has kept supply and demand tight and prices stable.  Because of the number of condos being built, both townhomes and apartments, it is this supply level that keeps these sale prices from going up.  Its a lot easier and cheaper for a builder to build townhomes and apartment condos than it is to secure lots from a developer.  If you purchased your apartment condo after 2014, you will see the prices have a ways to go yet before you can sell, without taking a serious loss.    Is it a good time to sell?  You bet!  And you will want to give extra high consideration to infills.  I've seen some incredibly beautiful infills in fantastic neighborhoods selling for great deals!  This is another area where investors held off building and then we saw an explosion of new infills come on the market creating an ideal buying environment.    2023 will likely bring us moderate gains in all markets.  Let's see what the Bank of Canada does now... fingers crossed they come to their senses and leave interest rates alone.