The Tomney Real Estate Team

JUST SOLD! Congratulations to our client on the sale of this beautiful home in Citadel!

Looking to make a move? Contact us today for a free, no obligation comparative market analysis on your home.

Mark Tomney
Century 21 Bamber Realty Ltd.
403-650-7051
[email protected]

MAY 2024 HOUSING MARKET UPDATE

Calgary home sales remain robust despite supply shortages in lower price ranges

In a market that continues to show resilience, May saw a total of 3,092 resale home sales. While this figure is nearly one per cent below last year's record high, it is 34 per cent higher than long-term trends for the month. The pullback in sales was primarily driven by declines in lower-priced detached and semi-detached homes, where there was limited supply choice compared to last year.

"Although new listings have increased, much of this growth is in higher price ranges for each property type," said Ann-Marie Lurie, Chief Economist at CREB®. “Our strong economic situation has supported sales growth in these higher price ranges. However, this month's sales could not offset the declines in the lower price ranges due to a lack of supply choice."

New listings in May reached 4,333 units, almost 19 per cent higher than last year. This increase in new listings compared to sales caused the sales-to-new listings ratio to drop to 71 per cent, supporting a modest year-over-year inventory gain. Despite this, inventory levels remained nearly half what we typically see in May, with most gains driven by homes priced above $700,000.

While inventories did improve this month, conditions continue to favour sellers with one month of supply. Several districts continue to report less than one month of supply, while the City Centre reported the highest supply-to-sales ratio at one and a half months. Seller market conditions drove price growth across all districts in the city. The unadjusted total residential benchmark price in May reached $605,300, nearly one per cent higher than last month and 10 per cent higher than last May.

Source: CREB

Thinking of making a move? Contact us today

Sarah Tomney Aloe
403-862-9733
[email protected]

JUST SOLD in Heartland, Cochrane! Beautiful end unit two story townhome with open concept kitchen/dining/living, 3 bedrooms, 2.5 baths, mud room and laundry walkout to the lower garage. The perfect home for two special new homeowners! Congratulations to the buyer and seller on this next move.

Looking for your dream home? Let us help!

Sarah Tomney Aloe
Century 21 Bamber Realty Ltd.
403-862-9733
[email protected]

SOLD! It was a busy weekend and a successful sale on this home in Huntington Hills. Congratulations to my lovely client on the sale of her home!

Looking to make a move? Contact us today for a free, no obligation comparative market analysis on your property.

Sarah Tomney Aloe
Century 21 Bamber Realty Ltd.
403-862-9733
[email protected]

www.tomneyrealestate.com

Welcome to Citadel, NW Calgary! Meticulously cared for Jayman Built home. Open concept living/dining/kitchen, gas fireplace, 3 bedrooms up, 2.5 baths and more! 2800+ sqft total living space with a double attached garage. Perfect family living awaits!

Mark Tomney
Century 21 Bamber Realty Ltd.
403-650-7051
[email protected]

For details visit: https://mark-tomney.c21.ca/listing/AB/Calgary/638-Citadel-Drive-NW-T3G-4Z3/189606548

Welcome to Huntington Hills! This charming 4-level split boasts over 2,100 sqft of living space (1,098 above grade). Meticulously cared for over the years by loving owners. Fully fenced yard, double garage. Near schools and amenities. Your dream home awaits!

For details:
www.160HuntwickWay.com

Sarah Tomney Aloe
Century 21 Bamber Realty Ltd.
403-862-9733
[email protected]

APRIL 2024 HOUSING MARKET UPDATE

May 1, 2024
Price growth persists in Calgary as seller’s market prevails
Sales in April rose by seven per cent compared to last year, to 2,881 units. While the pace of growth did ease compared to earlier in the year, sales remain 37 per cent higher than long-term trends for the month. Much of the growth in sales has occurred for relatively more affordable, higher-density products.

At the same time, there were 3,491 new listings in April, an 11 per cent gain over last year but only three per cent higher than long-term trends. The rise in new listings compared to sales prevented any further deterioration of the inventory situation. However, with 2,711 units in inventory, levels are 16 per cent below last year and half of what is traditionally seen in April.

“While supply levels are still declining, much of the decline has been driven by lower-priced homes," said Ann-Marie Lurie, Chief Economist at CREB®. “Homes priced below $500,000 have reported a 29 per cent decline. Meanwhile, we are seeing supply growth in homes priced above $700,000. Persistently high-interest rates are driving demand toward more affordable products in the market and, at the same time, driving listing growth for higher-priced properties.”

With a sales-to-new-listings ratio of 83 per cent and a months of supply of less than one month, conditions continue to favour the seller, driving further price gains in the market. In April, the unadjusted total residential benchmark price reached $603,700, a one per cent gain over last month and nearly 10 per cent higher than last year's levels. Price gains occurred across all property types and districts of the city. The strongest price growth occurred in the more affordable districts of the city.

Sarah Tomney Aloe
Century 21 Bamber Realty Ltd
403-862-9733

MARCH 2024 HOUSING MARKET UPDATE

April 1, 2024
March reflects strong seller's market and price increases

March sales rose to 2,664 units, a 10 per cent year-over-year gain and much higher than long-term trends. While new listings did pick up over last month, the 3,172 units were still below what we typically see in March and not enough relative to sales to drive any change in the supply situation. In March, the sales-to-new listings ratio rose to 84 per cent, and the months of supply fell below one month.

“We have not seen March conditions this tight since 2006, which is also the last time we reported high levels of interprovincial migration and a months-of-supply below one month," said Ann-Marie Lurie, Chief Economist at CREB®. “Moreover, we are entering the third consecutive year of a market favouring the seller as the two-year spike in migration has driven up demand and contributed to the drop in re-sale and rental supply. Given supply adjustments take time, it is not a surprise that we continue to see upward pressure on home prices.”

Inventory levels have declined across properties priced below $1,000,000, with the steepest declines occurring for homes priced below $500,000. In March, there were 2,532 units in inventory, 22 per cent lower than last year and half the levels we traditionally see in March.

In March, the unadjusted total residential benchmark price rose to $597,600, a two per cent gain over last month and nearly 11 per cent higher than last year. Prices have increased across all property types, with the most significant year-over-year gains occurring for the relatively more affordable row and apartment-style homes.

Contact us with questions or to schedule a free market evaluation!

Sarah Tomney Aloe
REALTOR
Century 21 Bamber Realty Ltd.
403-862-9733
www.tomneyrealestate.com

JUST SOLD in Irricana! Experience small-town charm just minutes from Calgary & Airdrie. Bright living space, 3 bedrooms up, and 2.5 bathrooms. Features a sunroom, oversized garage, and RV parking.

Looking for your next home? Contact us today and find out how the Tomney Team can help!

Mark Tomney
Century 21 Bamber Realty Ltd.
403-650-7051
[email protected]

Low inventory and high demand drive price gains in February

New listings continued to rise in February, reaching 2,711 units. However, the rise in new listings supported further growth in sales, which increased by nearly 23 per cent compared to last year for a total of 2,135 units. The shift in sales and new listings kept the sales-to-new listings ratio exceptionally high at 79 per cent, ensuring inventories remained near historic lows. Low supply and higher sales caused the months of supply to fall to just over one month, nearly as tight as levels seen during the spring of last year.

“Purchasers are acting quickly when new supply comes onto the market, preventing inventory growth in the market," said Ann-Marie Lurie, Chief Economist at CREB®. “It is this strong demand and low supply that continues to drive price gains in Calgary. The biggest supply challenge is for homes priced under $500,000, which saw inventories fall by 31 per cent compared to last February. At the same time, we are starting to see supply levels rise for higher priced homes supporting more balanced conditions in the upper end.”

In February, the unadjusted detached benchmark price was $585,000, an over two per cent gain compared to last month and over 10 per cent higher than levels reported at this time last year. Our most affordable East district is experiencing the highest year-over-year price growth at 25 per cent, while the relatively better-supplied City Centre has reported the slowest price growth in the city at under five per cent.

Contact us with questions or to schedule a free market evaluation!

Sarah Tomney Aloe
REALTOR
Century 21 Bamber Realty Ltd.
403-862-9733

www.tomneyrealestate.com

JUST SOLD! This second-floor corner unit features 9-foot ceilings, and two bedrooms with two ensuite baths. Quartz counter tops, stainless steel appliances and so much more. Ready to find your dream home? Let us help!

Mark Tomney
Century 21 Bamber Realty Ltd.
403-650-7051
[email protected]

Just sold in New Brighton! This bright open concept 3 bedroom, 2 bath home is now sold. Congratulations to our sellers and to the new owners of this beautiful home.

Looking to buy or sell your dream home? Look no further! Our dedicated team of real estate professionals is here to assist you every step of the way. Contact us now and let us make your real estate dreams come true!

Mark Tomney
Century 21 Bamber Realty Ltd.
403-650-7051
[email protected]

www.tomneyrealestate.com

Just sold in Sage Hill! This immaculate 2 bedroom unit is now sold. Congratulations to our sellers and to the new owners of this beautiful condo.

Looking to buy or sell? Look no further! Our dedicated team of real estate professionals is here to assist you every step of the way. Contact us now and let us make your real estate dreams come true!

Mark Tomney
Century 21 Bamber Realty Ltd
403-650-7051

www.tomneyrealestate.com

Happy Valentine's Day to all the sweethearts out there!

JUST LISTED in New Brighton! Bright south-facing home with 2300+ sq ft of living space. Open concept, large kitchen, cozy family room, spacious bedrooms, partially finished lower level. Perfectly landscaped yard & heated garage!

https://mark-tomney.c21.ca/listing/AB/Calgary/112-New-Brighton-SE-T2Z-0E2/185152302

Mark Tomney
Century 21 Bamber Realty Ltd.
403-650-7051
[email protected]

JUST LISTED in Sage Hill! 2-bed, 2-bath condo. South-facing unit, sunny deck, open concept living, upgraded kitchen, flooring, lighting, & more. Titled underground parking. Your dream home awaits!

For more information contact:

Mark Tomney
Century 21 Bamber Realty Ltd.
403-650-7051

www.tomneyrealestate.com

January sees strong sales fueled by boost in new listings

City of Calgary, Feb. 1, 2024 – January sales rose to 1,650 units, a significant gain over last year's levels and long-term trends. The growth was possible thanks to a rise in new listings totalling 2,137 units in January. New listings rose for homes priced above $300,000, but the largest gains occurred for homes priced above $700,000.

The rise in new listings relative to sales did little to change the low inventory situation in the city. With 2,150 units in inventory, levels are near the January record lows set in 2006 and are nearly 49 per cent below the long-term average for the month.

"Supply challenges have been a persistent problem since last year. This month's gain in new listings has helped provide options to potential purchasers, supporting sales growth. However, the growth in sales prevented any significant adjustments in supply, keeping conditions tight and supporting further price growth," stated Ann-Marie Lurie, Chief Economist at CREB®.

The months of supply in January was 1.3 months, falling over last month's and last year's levels. The persistent tightness in the market contributed to further upward pressure on home prices. The unadjusted benchmark price in January reached $572,300, a gain over last month and ten per cent higher than levels reported last January.

Ready to find your next home? Contact us for a free market evaluation.

www.TomneyRealEstate.com

JUST SOLD! Top floor corner unit with 2 beds, 2 baths, open concept, and 9ft ceilings. Granite counters, stainless appliances, and more! Ready to find your dream home? Let us help!

www.tomneyrealestate.com

Strong migration and low supply drive Calgary housing prices in 2023

Sales in 2023 did ease relative to last year's peak, but with 27,416 sales, levels were still far higher than long-term trends and activity reported before the pandemic. While sales stayed relatively strong, there was a notable shift in activity toward more affordable apartment condominiums style homes.

“Higher lending rates dampened housing demand this year, but thanks to strong migration levels, housing demand remained relatively strong, especially for affordable options in our market,” said CREB® Chief Economist Ann-Marie Lurie. “At the same time, supply levels were low compared to the demand throughout the year, resulting in stronger than expected price growth.”

Inventory levels were persistently below long-term trends for the city throughout most of the year, averaging a 44 per cent decline over the 10-year average. We also saw the months of supply remain well below two months throughout most of the year across homes priced below $1,000,000.

The persistently tight conditions contributed to our city's new record high price. While the average annual benchmark price growth did slow from 12 per cent in 2022 to nearly six per cent growth in 2023, the price growth was still relatively strong especially compared to some markets in the country.

SOURCE: CREB.com

NOVEMBER 2023 HOUSING MARKET UPDATE

December 1, 2023
Increased listings, strong sales, and price growth

New listings in November reached 2,227 units, nearly 40 per cent higher than the exceptionally low levels reported last year at this time. Gains in new listings occurred across most price ranges, but the most significant gains occurred from homes priced over $600,000.

Despite the year-over-year jump in new listings, inventory levels remained low thanks to relatively strong sales. With 1,787 sales in November, the sales to new listings ratio remained high at 80 per cent, and the months of supply remained below two months.

“Like other large cities, new listings have been increasing,” said CREB® Chief Economist Ann-Marie Lurie. “However, in Calgary, the gains have not been enough to change the low inventory situation thanks to strong demand. Our market continues to favour the seller, driving further price growth.”

As of November, the benchmark price was $572,700, up over last month and nearly 11 per cent higher than November 2022. Year-to-date, the average benchmark price has risen by over five per cent.

Interested to know what your home is worth today? Send us a message

Sarah Tomney Aloe
Century 21 Bamber Realty Ltd.
403-862-9733
[email protected]

Just sold in Greenview! Congratulations to our buyers, as well as to the seller of this stunning apartment condo. What sets this property apart is its private patio, the tile flooring that adds a touch of elegance, and the exceptional maintenance of the building. This unit boasts an assigned underground parking stall, two generously sized bedrooms, and a recently updated 4-piece bathroom. It has been an absolute pleasure assisting this client in their search for the ideal property, and we are thrilled to have finally found "the one" for them.

Ready to find your dream home? Contact me today and let's get started!

Sarah Tomney Aloe
Century 21 Bamber Realty
403-862-9733
[email protected]

www.tomneyrealestate.com

OCTOBER 2023 HOUSING MARKET UPDATE

November 1, 2023
Price gains continue in Calgary's real estate market as inventory remains low
October sales activity slowed over the last month in alignment with typical seasonal patterns. However, with 2,171 sales, levels were 17 per cent higher than last year and amongst the highest levels reported for October. Sales activity has been boosted mainly through gains in apartment condominium sales as consumers seek affordable housing options during this period of high-interest rates.

New listings also improved this month compared to last year, reaching 2,684 units, reflecting the highest October levels reported since 2015. Despite the gain, relatively strong sales prevented any significant shift in inventory levels, which remain over 40 per cent lower than levels traditionally available in October.

“Despite some recent improvements in new listings, supply levels remain challenging in our market,” said CREB® Chief Economist Ann-Marie Lurie. It will take some time to see a shift toward more balanced conditions and ultimately more price stability.”

With a months of supply of one and a half months, we continue to experience upward pressure on home prices. The unadjusted benchmark price in October reached $571,600, a gain over last month and nearly 10 per cent higher than last October.

For more information about home sales in your neighbourhood, contact us today!

SEPTEMBER 2023 HOUSING MARKET UPDATE

October 3, 2023
Calgary home sales at record highs in September, yet supply remains a challenge
Sales reached another record high in September with 2,441 sales. Despite the year-over-year gains reported over the past four months, year-to-date sales are still nearly 12 per cent lower than last year's levels.

New listings also improved this month compared to last year and relative to sales. This caused the sales-to-new listings ratio to fall to 76 per cent, preventing further monthly declines in inventory levels.

Nonetheless, inventory levels in September remained over 24 per cent lower than levels seen last year and, when measured relative to sales activity, has not changed enough to cause any significant shift in supply and demand balances. As of September, the months of supply has remained relatively low at less than two months.

“Supply has been a challenge in our market as strong inter-provincial migration has elevated housing demand despite higher lending rates,” said CREB® Chief Economist Ann-Marie Lurie. “While new listings are improving, it has not been enough to take us out of sellers’ market conditions.”

In September, the unadjusted residential benchmark price was $570,300, similar to last month and nearly nine per cent higher than last year.

For more information about home sales in your neighbourhood, contact us today!

Just sold in The Hamptons! This stunning 2800 sq ft fully developed walkout home is now sold. Congratulations to our sellers and to the new owners of this beautiful home.

Looking to buy or sell your dream home? Look no further! Our dedicated team of real estate professionals is here to assist you every step of the way. Contact us now and let us make your real estate dreams come true!

www.tomneyrealestate.com

August 2023 Calgary Real Estate Market Update

August sees record-high sales amidst historic low inventory, pushing prices higher

Thanks to a surge in the condominium market, August sales reached a record high with 2,729 sales. Despite the record levels reported over the past several months, year-to-date sales are still down by 15 per cent compared to last year.

While new listings did improve compared to levels seen this time last year, the sales-to-new-listings ratio remained elevated at 87 per cent, preventing any significant shift from the low inventory situation. Inventory levels in August dropped to 3,254 units, not only a record low for the month but well below the 6,000 units that are typically available. Low inventory combined with high sales this month ensured the months of supply remained low at just over one month.

Higher lending rates have caused many buyers to either hold off on purchase decisions or shift toward more affordable products on the market,” said CREB® Chief Economist Ann-Marie Lurie. “The challenge has been the availability of supply, especially in the detached market. Inventory levels hit record lows in August, and while new listings are higher than last year, conditions continue to favour the seller, driving further price gains.

The unadjusted benchmark price reached $570,700 in August, representing the eighth consecutive monthly gain. Prices have trended up across all property types, with row-style properties reporting the largest increase.

Just Listed in the Hamptons! This stunning 2800 sq ft fully developed walkout home is now available for sale. Luxury living at its finest awaits you in this meticulously crafted property. Featuring a grand entrance, gourmet kitchen, spacious bedrooms, and a beautifully landscaped private backyard, this home is perfect for those seeking the ultimate in comfort and style.

Contact us for more details and to schedule your private showing!

Mark Tomney
Century 21 Bamber Realty Ltd.
403-650-7051
[email protected]

www.TomneyRealEstate.com

Just Sold! We are thrilled to announce the successful sale of this meticulously maintained family home! Located on a quiet cul-de-sac, this property offered a serene setting with a backyard backing onto a beautiful green space, complete with walking paths and a ball field. The upper/lower maintenance-free decks and impeccable landscaping added to its charm. With a spacious main level, open-concept living area, and a lower level walk-out, this home provided the perfect space for comfortable living and entertaining. Congratulations to the new owners, and thank you to everyone involved in making this sale a success!

www.tomneyrealestate.com

JULY 2023 HOUSING MARKET UPDATE

August 1, 2023
Calgary home prices reach new heights: July sees seventh consecutive monthly gain

Rising rates had little impact on sales this month as the 2,647 sales represented a year-over-year gain of 18 per cent, reflecting the strongest July levels reported on record. The record-setting pace has been driven mainly by significant gains in the relatively affordable apartment condominium sector. Despite recent gains, year-to-date sales have declined by 19 per cent over last year.

In line with seasonal expectations, sales and new listings trended down compared to last month. However, this had minimal impact on inventory levels, which remained near the July record low set in 2006. With a sales-to-new-listings ratio of 82 per cent and a months of supply of 1.3 months, conditions continue to favour the seller.

“Continued migration to the province, along with our relative affordability, has supported the stronger demand for housing despite higher lending rates,” said CREB® Chief Economist Ann-Marie Lurie. “At the same time, we continue to struggle with supply in the resale, new home and rental markets resulting in further upward pressure on home prices.”

In July, the unadjusted total residential benchmark price reached $567,700, marking the seventh consecutive monthly gain. Prices are now over four per cent higher than the previous peak in May of 2022.

If you would like more information please contact our team and we would be happy to chat with you about the real estate market!

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