These five spots near Calgary are seeing house sales sink this year

While Calgary sees its inventory shoot up due to buyer jitters with ongoing economic concerns, five spots around the city are also seeing house sales change this year.

The Calgary Real Estate Board (CREB) released its regional monthly statistics package for March earlier this week, and numerous nearby communities are seeing sales cool so far this year.

So if you are looking at areas where you might not get into a bidding war over a home you got your eye on, take a peep at which towns and cities have seen a drop in sales.

You might also like:
• Calgary home sales plummet as inventory skyrockets by 102%
• These 10 neighbourhoods are the most expensive in Calgary right now
• An Alberta house that looks like a Harry Potter set is for sale for $7,000,000

@townofhighriver/Instagram

According to CREB data, High River house sales are down 8.7 per cent so far this year, Airdrie has seen sales drop 10.6 per cent, Canmore has dropped by 12.7 per cent, Okotoks has endured a decline of 16.8 per cent, and Strathmore led the pack with a decline of 34.6 per cent.

The inventory in these five communities has also skyrocketed, with inventory in High River up 16.1 per cent year-over-year, Airdrie has seen a jaw-dropping 14.7 per cent jump, Canmore has increased by 7.3 per cent, Strathmore has endured a jump of 77.1 per cent, and Okotoks had an increase of 77.8 per cent.

When it comes to Calgary proper, CREB says house sales slowed across all property types, with the steepest decline in higher-density segments.

“It is not a surprise to see a pullback in sales given the uncertainty,” said Ann-Marie Lurie, chief economist at CREB. “However, it is important to note that sales still remain stronger than anything reported throughout 2015 to 2020, where our economy faced significant economic challenges and job loss. Nonetheless, easing demand has been met with gains in new listings and rising inventories, helping our market shift back toward balanced conditions, following four consecutive years where the market favoured the seller.”

March reported over 4,000 new listings, causing the sales-to-new-listing ratio to drop to 54 per cent, low enough to support further inventory gains, according to the CREB.

While this is a significant change from last year, with limited supply options across all property types and price ranges, conditions reflect a better balance between a seller and a buyer today.

You can check out the full regional monthly statistics online.