CREB® Talks Calgary Real Estate: Market Forecast 2015

January 21, 2015
By Cody Battershill

What to Expect From Calgary's Real Estate Market in 2015

Throughout 2014, especially in the first half of the year, it definitely wasn’t unusual to see month-to-month price gains for all of Calgary’s residential real estate sectors. Search Calgary Homes & Condos Now.

Those gains did however level off by the end of the year, and now, forecasts from the Calgary Real Estate Board (CREB®) report price stability amid lower demand.

Predicted Statistics for 2015:

An estimated 24,503 total homes sold

Housing sales are forecasted to decrease by four percent due to uncertainty in both the economic climate and housing market

A modest price gain of only 1.58 percent from the beginning to end of the year

Residential sales activity expected to ease, although is on point with long-term trend seen for the city

Lower sales and housing starts not expected to mirror that of the 2009-2010 economic dip

While Calgary’s housing market has stayed strong even throughout recent economic turmoil around the world, now there is more uncertainty than before due to lower petroleum prices and loss of jobs in the energy sector which has also affected inbound migration levels to the city.

Not Always the Case

CREB® also made a point in its recent forecast that sales activity can vary substantially depending on the location, property type and price range of real estate.

For example, throughout 2014 inventory levels of single-family detached homes below the $400,000 marker were limited, leading consumers to look in surrounding areas like Airdrie, Cochrane, Chestermere and Okotoks – all of which experienced record sales in 2014.

Turns out this situation also pointed buyers into the direction of multi-family properties which had an abundance of listings below that price range.

Buyers + Sellers…

Higher inventory levels and balancing price growth should both add up to create some beneficial circumstances for Calgary real estate buyers in 2015, including:

More time to make decisions

Less price gains, potentially more affordable product

More alternatives in home / townhome / condo selection

Meanwhile, Calgary real estate sellers should be prepared to:

Be realistic about how long their home will stay on the market for

Make sure their price is competitive with other listed properties – get your CMA analysis today!

The best way to make sure that your Calgary real estate transaction is done right and in your best interests is to talk to an experienced real estate agent who can help guide you step-by-step through the process. I encourage you to contact one today if you are thinking of buying or selling anytime soon!

See our complete list of Calgary Real Estate Market Updates for long-term price trends, sales analysis and more!

Questions About Calgary Real Estate?

As an experienced Calgary REMAX Real Estate Agent, I will provide you with only the best level of service and expertise the industry has to offer. Call me anytime at 403-370-4180 or message me below; I am looking forward to helping you accomplish your real estate goals!