Calgary Real Estate Report


The Calgary Real Estate Board’s (CREB®) February 2015 Calgary Regional Housing Market Statistics for the City of Calgary confirmed that there was a 34% drop in residential sales activity over February 2014.

City of Calgary Real Estate Statistics for February 2015:

Listings were up 9%  - from 2,711 in February 2014 to 2,950.

Sales were down 34% - 1,217 units compared to 1,850 in February 2014.

Days on the market was 35 compared to 30 in February 2014.

Inventory levels rose to 5,474 units (covering all 3 housing types: detached, attached & apartment homes), up from 2,641 in February 2014.
This is still well below the record high level of over 6,900 units in February 2008.

Overall supply levels were 4.5 months of inventory - this is considered a buyer's market from a balanced market previously.


February 2014 to 2015 Monthly Comparison


The most critical statistic for the month was the New Listing Inventory in all housing categories. From January to February 2015 it DECREASED from 3,286 to 2,950 units - a 10% drop.Compare this to the same period in 2014 when it INCREASED from 2,396 to 2,711 units (+13%).

CREB® chief economist Ann-Marie Lurie commented on this: “If the pace of growth in new listings continues to ease, this could place some downward pressure on the supply growth in the resale market.”

The increase in new listings varied depending on price point, housing type and community. Detached homes under $400,000 actually declined from February 2014 levels while attached and apartment homes showed an increase in inventory levels in all categories over $300,000.


CREB®  Calgary Regional Housing Market Statistics

CREB® president Corinne Lyall commented on this by saying:

“It’s really important for consumers to consider what segment of the market they are buying or selling in when they make any real estate decisions. The inventory, demand and price movement will vary based on the community, price range and product type.”

The Benchmark Price was $456,300 - this is up from $431,400 in February 2014.
The Median Price dropped to $420,000 - from $424,900 in February 2014.

The Benchmark Price is the best indicator of price changes and trends since it tracks similar properties over time. Median Price is also a better indicator than the Average Price as it follows the Benchmark Price more closely.  Compare the differences in the chart below.


February 2010 to 2015 - Benchmark, Median & Average Prices




                   Calgary Detached Homes Statistics                   

January & February 2015 Comparisons

City of Calgary detached homes performed the best of the 3 housing types in almost all categories.
This chart highlights the numbers with comparisons for the previous month of January 2015.
Notice how sales increased in both years but the new listings actually DECREASED from January to February 2015.

Also, the Benchmark Price of $516,000 was up from February 2014 and barely changed from January 2015.

The chart below highlights where most of the detached home sales are still taking place.  In February 2015, 578 of the 739 properties (78%), sold in the $300,000 to $599,999 price categories. The Median Price of $470,000 is right in the middle of this range.

Notice how very few Calgary Luxury Homes (over $1,000,000 price category) sold this February compared to last year - less than half!


Calgary Detached Homes Sales by Price Category

February 2015 Calgary Regional Housing Market Statistics



Contact Ross PAVL online today, or call 403-837-8100 to get all your real estate questions answered.


To read more details about the Calgary real estate market in February 2015 visit:  CREB® February 2015 Market Statistics



Other Calgary Real Estate Market Reports worth reading:

June 2014 Calgary Luxury Homes - Market Update 

Calgary Housing Market Pushing Forward at Record Pace into 2014 

Calgary Housing Market is Up in 2013 

2013 Calgary Luxury Real Estate Market Summary

June 2013 MLS Calgary Real Estate Sets Record as Floods Impact Market 

Calgary MLS Resale Market Starts 2013 on Up Trend


Posted by Ross PAVL on


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