Check out this report produced by CMHC (Canadian Mortgage and Housing Corporation.
It provides us with a detailed outlook in all areas of the housing Industry. Not only does it talk about Canada it drills down to each province. click here to view Housing Market Outlook Report Third Quarter.
For a more detailed report on Calgary’s Housing market please contact me.
Tired of trying to figure out whats happening in the Calgary Real Estate Market. Below you will find a summary of some key indicators with a few short comments that will give you a clear indication of how the Calgary Real Estate market is performing. This information is taken from the Calgary Real Estate Boards monthly stats package for realtors and is provided for you by Gord Piper and Associates. If you would like to see the entire report contact us.
Calgary Listing Inventory: Both Single Family homes and condo’s decreased marginally this month.
| Inventory | June 2011 | July 2011 | Change |
| Single Family Home | 4744 | 4630 | Decrease of 114 |
| Condo’s | 2023 | 2003 | Decrease of 20 |
| Total | 6767 | 6633 | Decrease of 134 |
Calgary Sales:
Calgary sales for the month of July showed decreases for both single family and condos. This is very normal as the peak selling season is typically April through June. Of interest, even though sales numbers decreased in July our sales were still substantially higher than last July.
| Sales | June 2011 | July 2011 | Change |
| Single Family Home | 1398 | 1153 | Decrease of 245 |
| Condo’s | 581 | 453 | Decrease of 98 |
| Total | 1979 | 1606 | Decrease of 373 |
Calgary Real Estate Sales Prices: Prices for Single Family homes decreased slightly while condos increased very slightly this month. Both seem to be remaining fairly flat with slight ups and downs but not heading in any one direction.
| Sales Prices | June Median Prices | July Median Prices | Change |
| Single Family Homes | $417,250 | $409,000 | Decrease of $8,250 |
| Condo’s | $265,000 | $269,000 | +$4,000 |
Overall we are still in a slight buyers market – this month we moved slightly more in favour of buyers as our inventory decreased only marginally while sales did show a decrease therefore increasing our absorption rate.
If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us anytime.
Gord Piper & Brent Wilcox