Calgary Market Update for January 2022 (Calling all Sellers!!)

February Market Update: Strong Seller Conditions continues to impact Prices for Calgarians

In January, the benchmark price reached $472,300, an increase of over 2% month over month and 12% year over year. Inventory fell to 2,620 units, the lowest level since 2006. Months of supplies remained at an all-time low of 1.3 months for this time of year.

In January, the number of new listings increased to 1,295 units. Inventory levels, on the other hand, continued to fall with 1,148 sales. Detached inventory decreased to a new low of 895 units, while months of supply remained below one month for the second month in a running.

Changes in Calgary's Condo Market

Sales in January were at their highest level since 2007. There was more supply available in the condominium sector than in any other sector. This sector's unadjusted benchmark price of $251,200 is almost 2% more than last year. The months of supply have stayed stable at three months.

Photo of downtown Calgary from Scottsman's Hill


Sales activity in January reached near-record levels. With less than one month's supply, the market continues under strong sellers' market conditions. The benchmark price increased by roughly 3% to $408,900 in January over the previous month. Increase can be attributed to gains in both detached and semi-detached dwellings.



In January, sales in Cochrane reached new highs. The median price of a detached home increased to $512,900 in January. With only 62 units available in inventory, inventory levels are nearly 70% lower than what we've seen in the past. Prices are continuing to rise due to tight market conditions.


The detached benchmark price increased to $515,100 in January, almost 8% higher than the previous year. In January, inventory stood at 38 units, the lowest level ever for the month. The months of supply remained extremely tight at under one month this month.

As always, if you have any further questions, please contact us directly.


Taking a closer look at my latest listing in My Legacy Park: Beautiful 2 bedroom condo under $290,000

Southwest Lifestyle at My Legacy Park: 1309 215 Legacy Boulevard SE

If you are in the market for a modern condo in Calgary’s Southwest, this could be your next home! Bright and open, with 9-foot ceilings and plenty of natural light throughout the space, this unit showcases the amazing SW Lifestyle available at Remongton’s My Legacy Park.

my legacy park condo calgary

The unit features 2 bedrooms, 2 baths, and 2 named parking places. This property, which faces northwest, receives evening sun and has a private balcony that is covered. Suite #1309 is tucked away at the very end of the hall and features a large front entry as well as a generously sized closet.

with upgraded flooring package

The improved flooring package, which includes ceramic tile, easy-to-clean laminate flooring, and upgraded carpet, is instantly noticeable. Among the many features of the kitchen are quartz countertops, a large kitchen island with pot drawers and cupboards that reach to the ceiling, an upgraded stainless appliance package with a water and ice dispenser built into the refrigerator, an upgraded stove with induction oven, an upgraded microwave oven, quality dishwasher, garbage disposal, and striking red glass mini subway tile backsplash, as well as a touch faucet with a pull out hand wand that is super cool.

You'll find a front-loading washer and dryer that have been upgraded. The primary bedroom is huge, with a walk-through partner closet and an ensuite bathroom with quartz countertops and a large bathtub. The secondary bedroom is also spacious. The second large bedroom also has a large closet In-suite and has quick access to the full bath that also has quartz counter.

with upgraded air conditioning unit

There is heated indoor titled parking with a storage locker, as well as a second titled outside parking space with storage locker. You don’t have to leave because everything is within walking distance, including shops and the Legacy walk trails. Located near the southern end of Calgary, the Legacy community is ideally located adjacent to the Bow River, the Macleod Trail, and the Stoney Trail ring road, among other amenities.

Watch the tour video here:

To learn more about this property, contact us today!

To see more property tours, subscribe to us on YouTube!


Seller's Market Shows No Signs of Slowing Calgary Real Estate - Mid January Update

The majority of Canada is tilted in favour of sellers rather than buyers, which is expected to continue in 2022. But one major urban centre is not showing signs of overheating or overvaluation. This is excellent news for young families and first-time homebuyers eager to break into the market.

The Canadian Mortgage and Housing Corporation (CMHC) has rated the Calgary real estate market as "low-risk". The rating doesn't translate to tepid activity, in fact, this local market is flourishing. According to the Calgary Real Estate Board (CREB), residential sales rose to 2,186 units in October 2021, up 24 per cent year-over-year.

The average home price in Calgary is up almost nine per cent year-over-year to $460,100. Inventory is beginning to tighten, but not at market levels seen elsewhere in the country.

Semi dethatched home in a new neighborhood

New housing construction has improved from 2020. Housing starts increased at an annualized rate of 27.8 per cent in October 2021, to 1,255. Year-to-date, housing starts in Calgary have topped 11,600, up from 7,443 in the first 10 months of 2021.

Sales over $1 million in Calgary were up 244% year-over-year, according to Sotheby's. Condos saw the most significant annual percentage gain of any luxury housing type. Young buyers and up-sizers are looking for top-tier homes at accessible prices.

Canada's luxury and conventional housing market will remain strong in 2021, according to the latest Canadian Real Estate Board (CREB) report. Low-interest rates, record cash savings and anxiety about the stock market will continue to drive demand for properties. Overseas buyers will flood into the market as travel restrictions gradually ease, CREB predicts.


While Calgary's economic growth is welcome, a recent real estate study predicts a 6% drop in housing affordability next year.

The median price of a single-detached home in Calgary is expected to rise by six per cent to $689,000 in the fourth quarter of 2022. The city's downtown revitalization and infrastructure projects such as the Green Line LRT and Event Centre are helping drive the boost.

The median price of a single-detached home in the Greater Toronto Area is expected to spike by 11 per cent a year from now, to $1,564,200. In comparison, the median cost of a condominium in Calgary is forecast to rise by two per cent.

The Canadian inflation rate hit 4.7 per cent in November, the highest in nearly 19 years. The stay-at-home effect of the pandemic has made larger homes more desirable. You will need strategy and diligence in locating a new property in the current market, but it can be done. Consider new developments (These can be found both inner city and on the outskirts) or buying in the surrounding communities of Airdrie, Cochrane, Okotoks, and so on.

Calgary family playing in a street

The median price of nearly $700,000 for detached homes is being skewed by a booming luxury market.

Calgary's unemployment rate is down to eight per cent, down from 8.9 per cent in October but still among the highest for major Canadian cities.

It is estimated currently that 30 per cent of prospective Calgary homebuyers are coming in from other municipalities.

Wondering about how to make your next move in 2022? Let us help you.


Top 5 Reasons to buy a home in Pine Creek, Calgary

With Anthem United's newest development slated for a 3-5 year completion, anybody who is looking to build or buy a new home in a SW Calgary Community needs to check out one of our favorite up and coming communities in the city.

New homes under Construction in Calgary, Alberta

  1. Great location and access to Major Roads 


This community gets you into the city through MacLeaod, Stoney or Deerfoot through Sherrif King St, 194th Ave and 210th Avenue. The new addition to the Stoney Trail ring road brings down commute time for all residents of the south! 


It’s never been so easy to get from a far SW community to the mountains, Canmore or Banff with the new ring road. Even temporarily having to cut through on Sarcee to get to Highway 1 is a pleasant and straightforward drive. 


  1. Ammenities: Some of the best we have seen in a new SW Calgary community recently

Playgrounds, new schools, a new Rec Center, pathway network, landscaping and ponds – This neighborhood has many of the perks of older established communities, and you can rest assured that your children won’t have to commute far for school! 


Also check out the Granary Road Market,  Cross Conservation Centre and Leighton Centre. The nearest mall is Southcenter Mall and the nearest urban hub is Seton 

  1. Pine Creek is slated to be finished construction in 3-5 years 

We have watched many suburban developments in the city take decades or more to finish. Great sales and strong management from this developer moving forward means they are expected to be completely finished with construction within a 3-5 year window.  

  1. No HOA 

The neighborhood is designed to offer all the modern conveniences of a master planned community without HOA fees. 

modern showhome kitchen

  1. Huge variety of Showhomes 

There is a wide range of detatched and attached units for sale in this 100% and if you are looking for more variety, nearby sister communities Belmont and Sirocco at Pine creek offer further variety. 


If you are interested in checking out some of the Showhomes in these communities, we would love to accompany you on your journey. Remember, a Realtor ® can negotiate upgrades and other terms in your purchase with a new developer that you may not necessarily be able to get otherwise. Give us a call and say “Hi” Today! 


Buyer’s Market? Hold that thought: 2022 real estate housing inventory levels to remain very low in the early new year.

 The aggregate price of a home in Calgary is forecast to increase six per cent year-over-year to just over $600,000 in 2022. Sources say global economic conditions are resulting in a boost in energy prices, making Alberta an inviting place to live. 

The Omicron variant could also play into 2022's pricing surge. Companies may consider delaying any return-to-work policies, with the most prominent example being large tech firms such as Apple, as recently announced last week. One’s home and one’s workplace may be one and the same for the foreseeable future. 

infill development in marda loop

Building optimism in Calgary's Market: Infills such as the one pictured above are as common as ever. A new 113 unit proposal on Mission Road, a new Brookfield proposal for 22 rowhouse building, and a CMLC designed  Arts Commons expansion are just a few of the new projects that have been revealed in the past week

These conditions, in addition to a limited inventory, are expected to result in a "brisk" market for the city of Calgary. It may be some time until we see a buyer's market in the city.

Calgary is attracting young Canadians looking for affordable homes, desirable job opportunities and a modern, balanced lifestyle. Residents and prospective homebuyers look to infrastructure projects such as the new stadium and the Green Line as a sign of continued growth and optimism in Calgary’s Real Estate market. 


The importance of pricing your home correctly in Calgary's real estate market

As a home seller in Calgary's Market, the single most important action you can take is to price your home right.

realtor conducting a home evaluation

Many sellers are inclined to overprice their properties as a method of "trying things out," believing that they can always lower the price later, but overpricing will scare potential buyers away.

If you overprice your home, you run the risk of alienating potential buyers who would otherwise make an offer. Homes that are priced correctly will sell faster and for less money, generating more buyer interest and increasing the likelihood of multiple offers.

Red flags include overpricing and underpricing. You're either not serious about selling or you're in a hurry to sell. You'll have an advantage against sellers who don't understand the value of a well-priced home if you use fair market value.

A Market Evaluation is a free service that can assist you in determining the actual value of your property. A Home Evaluation is a free, simple, and obligation-free service that assesses your home's condition, location, and recent market value to provide a listing price.

You can start the process on my website instantly, and we can follow up with you for the next steps. Click here now!


Check out our new listing in Sunalta: Up and coming unique community in Calgary's Downtown district

You will now be able to live inner city without needing to share hallways with your neighbours for the first time! This totally unique condo complex features an open court yard that allows lots of natural light to filter into the main rooms of the building.

Living in the stylish community of Sunalta, you'll approach your enormous corner house through a spacious entryway that has a large closet and is perfect for entertaining. In the following two rooms, you will find your second bedroom and second bathroom.

Bright and spacious living area with 2 bedrooms, 2 baths

There is a bright and spacious open concept living and dining space, as well as a kitchen. The elevated breakfast bar leads us into the kitchen, which is outfitted with maple cabinetry and elegant stainless-steel appliances that are within easy reach. In addition, you can simply access the grill on your south-east balcony from here.

Located directly east of downtown core

The spacious primary bedroom with a full ensuite features vessel sinks, and the primary walk-in closet completes this area, which also includes in-floor suite heating. Store your belongings in the lockable storage locker provided, and park in the secure, heated underground parking garage.

Each unit has access through courtyard connected to elevator landing

A highly sought inner-city location, this home is close to shops, banks, cafes and restaurants as well as high schools and colleges, SAIT and Co-op, as well as the Bow River, make it an excellent choice. Access to walkways, 17th Avenue, Crowchild Street, 14th Street, and the Sunalta LRT station are all within walking distance. Even though there is a lot going on, the neighbourhood is calm and serene. With many shops and businesses opening their doors nearby, Sunalta is the up and coming inner city neighborhood to watch! Don't wait any longer, contact to schedule a viewing today!

You can view the full listing here.


Toronto and Vancouver investors are now moving TONS of attention to Calgary condo market.

Interest is largely driven by the relative affordability of Calgary compared with major centers like Toronto.

The situation garnered national attention this past month after the Bank of Canada raised concerns about speculative buying driving up prices. One-quarter of all purchasers in Ontario had previously purchased a home, implying that they are speculative investors.

Over the same period, the market share for first-time buyers has been flat, as has that of buyers moving from one home to another. The report notes the shift could be caused by a reduction in foreign investors because of a speculation tax for non-residents.

The benchmark resale price for an apartment condominium in Calgary is about $252,000, compared with $700,000 in Toronto.

Similarly styles building to MODA's Newly proposed East Village Condo

Developers and architects in Calgary such as MODA are creating some very compelling condo's like we've never seen. We can't show you these exclusive posted but can you link you to the source HERE

Institutional investors are aiming to diversify their portfolios beyond Vancouver, Toronto, and Montreal by investing in Alberta's booming multi-family properties. He claims that buying condominiums in Calgary would result in more rentals in the market and assist to alleviate the glut of inner-city condos.

How can local Calgarians compete with these investors? We've seen some legislation that serves to open up a portion of units to local buyers. Realtors are often also able to negotiate with developers when they open up the first phases of pre-sales. 

You can also follow us on YouTube for our upcoming special on Real Estate Investment, we will explain how anyone can get in on property investment, not just huge companies!

Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.