Calgary resale market weakens as oversupply pressures housing prices downward
Calgary's resale real estate market saw prices fall nearly two percent in June as apartment oversupply and too few buyers weaken the market.
The day's top stories, food & events — every morning at 7. Unsubscribe anytime.
Calgary's resale real estate market is feeling the pressure of apartment oversupply and insufficient buyer demand. Resales fell nearly four percent year over year in June, while the aggregate benchmark price dropped about two percent to $572,500, according to Calgary Real Estate Board statistics.
The persistent challenge reflects broader trends affecting Calgary's condo and apartment sector, where inventory has built faster than market absorption can handle. Too many units chasing too few buyers has created a buyer's market that continues to put downward pressure on pricing across residential categories.
The facts
What was Calgary's aggregate benchmark resale price in June?
$572,500 in Calgary's resale real estate market, down about two percent according to Calgary Real Estate Board statistics.
How much did Calgary resales fall year over year in June?
Calgary resales fell nearly four percent year over year in June, according to Calgary Real Estate Board statistics.
What's driving Calgary's weak resale market?
Apartment oversupply and insufficient buyer demand are creating a buyer's market that puts downward pressure on pricing across residential categories in Calgary.
