July 2021 Market Update

So the first half of 2021 is in the books and what a year it has been for the greater Calgary real estate market and for many markets around the world!

The year started with single family housing supply on the lower side of balanced and has remained in check throughout the year. Sales activity was incredibly strong from the end of January through to the end of May. The sales number in June slowed slightly as some buyer fatigue set in.

Significant price gains occurred in the single family segment and sales increased in the condo market.

I get asked a lot if I am concerned about it being a bit of a bubble in our market. I am not. I feel it is going to remain balanced. Since the fall of 2014, we had significant negative economic news but a cautious sense of optimism is returning. Probably not as many jobs coming back but as we observe this incredible societal shift due to the intersection of Covid and enhanced technology. This shift has enabled many people to leave Calgary to smaller jurisdictions. But Calgary remains a desirable destination for people across Canada and the world. We are perceived as great value! I truly feel Calgary remains a world class city and is affordable for everything it has to offer.