Calgary Real Estate Market Update - October 2023

The prices are likely to continue rising given macroeconomics picture- positive migration, relative affordability especially compared to equivalent cities (GTA, Vancouver & Montreal). Others include business friendly environment, low tax regimen and high incomes.

Calgary market was resilient in face of >10 interest rate hikes. It’s a proxy of how bullish the market is and its enormous potential, when interest rate plateaus or start falling.

Do you think prices will continue to go up into next summer?

Enjoy Dallas!!

Hmmm the Calgary house market reminds me of 1983-84. Be careful. People can’t leave the keys in the mail box for the bank repo this time round.

Thanks for another great market update!

Jared, I'm almost at the stage of wanting to move to Saskatoon!! It's the way Calgary was in the 1970s!

The price will keep going until federal election. If the conservative win, the price will be double in one year.

If these prices keep going up I won’t be able to afford Calgary (cochrane)

I can't seem to sell in McKenzie town, there's three other houses in my price range of $750k to $785k that aren't selling here either since August/late September...if anyone knows why? We reduced the price already by 20k and it didn't do anything 😕

I went to put an offer on a house and they want no conditions and the place was a dump. No home inspection no nothing and they sold the place in a weekend

You should do a video on how many price reduction and how many homes not selling or relisting .... would be interested to see....

People can't afford to upsize and are barely holding onto their starter home/condo. RE agents will be selling mostly distressed home owners in the next 6-24 months as more mortgages renew. With rent in Calgary being comparable to that in Vancouver and Toronto if people are in rent controlled units, there is no reason for people to move to Calgary unless they have a job and can buy. Look at what is happening in ON and BC. It will take another few months to see more people be in distress but it is happening as I have friends who are looking at their mortgage payments on renewal next year and can't afford it.

Once the interest rates are stabilized Ontario & BC will become buyers market which also affects Alberta which might turn into sellers market! The movement of population from Ontario & BC also slows down after that! That’s my guess but who knows!

If Calgary market continues to increase! We will end up moving to smaller cities around Calgary or other cities of Alberta!!