Calgary Housing market – January 2022
Our first month of 2022 is gone! What a hectic time it has been in the Real Estate Market; especially for detached property. The attached graph shows detached sales for the month of January. The number of sales for January is almost double the ten year average! Prices have taken a significant jump also, and the sales to availability ratio has not been this low since 2006!
I am of the opinion that the market is becoming unstable. We are seeing offers, in some cases considerably over the asking price; this is not sustainable long term. Townhouses and apartment condominiums have not appreciated nearly as quickly so my thought is that this product may be protected from price swings in the future.
As always, property is very dependent on condition and location. For specifics please contact your favourite Realtor.