It is our pleasure to provide key information from the Calgary Real Estate Boards monthly stats package and add a few short comments to help you really understand what is happening in the market. The key areas that we look at include Inventory, Sales and the Median Price as this gives a great snapshot of the market.
Calgary Listing Inventory: Inventory levels for both Single Family homes and Condo’s decreased this month. This is the first month in a long time that we have seen our inventory consistently decrease every week. This movement is normal for this time of year as many people believe it is now better to wait till spring.
| Inventory | October 2011 | November 2011 | Change |
| Single Family Home | 4486 | 3761 | Decrease of 725 |
| Condo’s | 1935 | 1676 | Decrease of 259 |
| Total | 6421 | 5437 | Decrease of 984 |
Calgary Sales: Calgary Single Family home sales for the month of November remained almost flat this month. You may have read the news that says “sales are up” but that number is comparing sales to Nov 2010. The normal trend at this time of year is to see sales drop so remaining flat is a sign of strength.
| Sales | October 2011 | November 2011 | Change |
| Single Family Home | 988 | 962 | (26) |
| Condo’s | 368 | 393 | + 25 |
| Total | 1356 | 1355 | (1) |
Calgary Real Estate Sales Prices: Single family home prices increased by $7,975 while the median price of condo’s decreased by $12,625. The median prices are not showing any certain direction but are bouncing up and down every month. Let’s look at the year to date numbers to really see what’s happening.
Single Family Home: Dec 31, 2010 the median price was $406,000 so for the year the median price has decreased by $3,075
Condos: Dec 31, 2010 the median price for condos was 267,250 compared to today at $250,000 showing a decrease of $17,250
| Sales Prices | October Median Prices | November Median Prices | Change |
| Single Family Homes | $395,000 | $402,925 | +$7,975 |
| Condo’s | $262,625 | $250,000 | $(12,625) |
Overall we are still in a buyer’s market although with the decreased inventory levels and sales maintaining we are moving closer to a balanced market.
If you have any questions or comments about this snapshot please let us know.
For a full copy of the November Calgary Real Estate Boards Monthly Stats package please contact us.
Gord, Eric and Brent
Tags: Business/Finance, Calgary, Calgary Home Prices, calgary real estate, calgary real estate prices