Calgary Had Record 2021 Home Sales

Thanks to exceptionally high sales in December, 2021 was a record year for home sales in Calgary, AB, says a report by the Calgary Real Estate Board (CREB). In 2021, Calgary sales reached 27,686 units, nearly 72 per cent higher than last year and over 44 per cent more than the 10-year average. Sales for detached homes in 2021 reached 17,038 unites, a 40 per cent increase over long-term averages. However, entering 2022, this is the lowest detached inventory on record. For semi-detached homes in 2021, there were 2,571 sales, an annual gain of 55 per cent and over 47 per cent higher than longer-term trends. Also, row properties have increased in popularity, reporting strong sales and benchmark prices rising by six per cent on an annual basis. The apartment condominium sector has not experienced many supply challenges as inventories this year generally remained above historical levels. However, the growth in sales was enough to help shift the market from one that favoured the buyer to one that was relatively balanced.