Condo sales in Calgary were up a staggering 50% year over year in July, cementing the property type as the clear top product in the city.

While many large real estate markets in Canada have seen tempered activity this summer, Calgary just wrapped up a record July, according to statistics published by the Calgary Real Estate Board (CREB) this week.

In July, the City of Calgary recorded a grand total of 2,649 home sales, which is a decrease compared to the 3,144 sold in June, but a strong showing when factoring in seasonable trends. Last month showed an 18% increase compared to July 2022 and had the strongest July sales total on record.

By residential property type, single-detached homes still led the way, with 1,197 units sold, followed by condominiums at 772, rowhouses at 467, and semi-attached homes at 211.

The number of new listings added also decreased from 3,939 in June to 3,247 in July, but total inventory nonetheless increased, up from 3,461 in June to 3,488 in July.

“Continued migration to the province, along with our relative affordability, has supported the stronger demand for housing despite higher lending rates,” said CREB Chief Economist Ann-Marie Lurie. “At the same time, we continue to struggle with supply in the resale, new home, and rental markets resulting in further upward pressure on home prices.”