July Real Estate Market Update 2023

Get ready, folks! The real show is about to begin in Calgary, and no, we’re not talking about the Calgary Stampede, although that’s always exciting. We’re talking about the Calgary real estate market, which is about to get even stronger. At Plintz Real Estate, we’re closely monitoring and tracking the trends in this bull market, and we’re here to simplify things and help you make sense of it all.


Let’s make dollars and sense of the statistics.
Total sales in Calgary are up by 10.9% compared to June the previous year. While the average price is up by only 4.4% to $564,700, it’s important to note that Calgary remains one of the least expensive major cities in Canada by a country mile. But here’s where it gets interesting: total inventory, or the number of properties available to buy, is down by a staggering 36%.

Calgary Real Estate Market Stats for June 2023

Now, let’s break it down. With strong net migration numbers and significantly fewer options to choose from (30.6% less, to be precise), we’re heading towards a situation where demand is surpassing supply BIG time. And here’s the clincher: there’s less than one month of supply, which translates to approximately 2500 houses for sale. That’s only half as much as last year! Brace yourselves, buyers are stampeding for the available inventory, and prices are set to boom.


Calgary’s streets are buzzing, airports are bustling, patios are filled to the brim, Stampede has record attendance, and businesses across many sectors are recording unprecedented profits. It’s an exciting time to be part of this thriving city. Now, you might wonder about higher interest rates and how they’ll impact the market. Surprisingly, in a unique scenario like Calgary’s, higher rates actually speed things up instead of cooling them down. When supply is scarce, increased rates act as fuel for the market’s fire.


So, fellow Calgarians, it’s time to put on your seatbelts and your cowboy boots (definitely for Stampede). But most importantly, it’s time to seek exceptional strategy and insight to make the best real estate decisions possible for 2023 and beyond. At Plintz Real Estate, we’re here to help you navigate this rodeo with confidence. Our team of experts will provide you with the exceptional guidance and market insights you need to seize the opportunities this market presents.

Stay tuned for more updates, and remember, the Calgary real estate show is about to begin. Let’s ride this bull together!


Detailed market update statistics from the Calgary Real Estate Board for June 2023 are available HERE.


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