December Real Estate Market Update 2022

For our December Market Update, we are hoping Santa brings more houses as we are running out of listings.  We have just about sold our entire inventory at Plintz Real Estate. And all of Calgary is running low.  We have less than two months of supply and that’s among the lowest I’ve seen in my 20+ years in real estate. We have also had the highest levels of net migration ever to Alberta and rents are up 12 percent. We have zero complaints.

There is a “scary” sounding statistic for November – sales are off 22% but this equals the best market in a while because it means we’re finally leveling off and have a balanced market again.

The challenged economy elsewhere in Canada is really helping manage expectations as we continue to add people and new jobs to the city.  Alberta has some of the best advantages out of anywhere to live in the country.

This isn’t waxing poetic or making good out of bad. This is about being real and having a real strategy looking forward.

The statistics and the data are very compelling and very positive for Alberta, so say the experts and we have the full stats package available if you want all the details.

But the more important aspect is what we track as a long-standing real estate company – the stats, the trends, and the day-to-day sentiment in the marketplace.

We are fortunate for many reasons here in Alberta, and in particular, because our economy is in very good shape relative to most around the country. There is still a lot of uncertainty and things can change so we all need to pay close attention and work together to make the best decisions possible.

Yes, sales have slowed but inventory is down and rentals are more expensive. The future of owning real estate looks good in Alberta (not for foreign buyers as Canada is implementing a temporary ban).

Buying will be more challenging as there is less inventory and rates have gone up. Buyers, be patient and strategic.

Make sure you get sound advice and strategy as you make the very important decisions of buying, investing, and diversifying in Alberta.

Detailed market update statistics from the Calgary Real Estate Board for November 2022 are available HERE.

Contact us directly for the stats on Airdrie, Cochrane, Rockyview, Bighorn, or other areas in the Calgary region.

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