Calgary Real Estate Market Update-February 2024

By Tom Albrecht | Mar 08, 2024 | Calgary - Market Analysis

Market Update For Calgary Real Estate In February 2024

Little change this month versus January: Supply remains constrained across the market and sitting inventory is only really found in outlying communities (primarily Chestermere, Cochrane & further afield) and/or at higher price points (above $900,000).

Notably, the luxury condo space ($750k+) and highest home value brackets ($2m+) even saw seller's/balanced conditions in February. The market for homes in the range of $900k-$1.5m transitioned into a heavy seller's market this month. We could be starting to see more of a move-up market due to the anticipation of lower rates, (as mentioned last month). Let's watch and see if this becomes a trend. If so, it could be very important for decision-makers in all parts of the market.

A reminder that while we do anticipate home values to continue to rise sharply, all markets eventually find balance: This week for one of the first times, I had a client choose to live elsewhere due to the cost of home ownership - these are the sorts of decisions that will eventually lead to balance. When and at what point will Calgary area home prices be? We don't know.

Breanna has strong feelings/evidence about the best strategies to secure the highest sale prices in these market types, and I have my strategies for securing the best homes for the right price and with real certainty. Please feel free to reach out or send friends/family so we can help!

------------------------ Kind Regards Tom (& Breanna) Albrecht - The A-Team Questions? Contact Us… >>HERE<<

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Tom Albrecht founded The A-Team with his wife, Breanna. He holds a Masters in Economics for Developing Countries from The University of Oxford. Tom is licensed at RE/MAX First, and is a specialist buyer's agent in Alberta - specifically, Calgary, Fort McMurray, Airdrie, Cochrane, Okotoks & Chestermere. He was rated #1 Calgary agent in 2022 & 2023 by

The interpretations of any MLS® data used are our own and don’t reflect the opinions of the Calgary Real Estate Board or its members. This article is not intended to make predictions about the housing market and should not be constituted as advice. Consult your Calgary Area REALTOR® for real estate market advice.