What”s happening in the Calgary Real Estate market?
The stats below are taken from information supplied to realtors through the Calgary Real Estate Board. As Real Estate is all about supply and demand that is what this article will focus on :
- Our Inventory
- Our Sales
- and of course Prices
As we are at a year-end I am providing both monthly and then yearly results.
Calgary Listing Inventory: Inventory levels for both Single Family homes and Condo’s decreased substantially this month. This movement is normal for this time of year as many people do not want their home on the market during the holiday season. Expect that starting January our listing inventory will start to creep upwards.
| Inventory | November 2011 | December 2011 | Change |
| Single Family Home | 3761 | 2761 | Decrease of 1000 |
| Condo’s | 1676 | 1287 | Decrease of 389 |
| Total | 5437 | 4048 | Decrease of 1389 |
Calgary Listing Inventory year to date. Very Similar numbers compared to last year.
| Inventory | Dec 2010 | December 2011 | Change |
| 2712 | 2761 | 49 | |
| Condo’s | 1429 | 1287 | -142 |
| Total | 4141 | 4048 | -97 |
Calgary Sales:
Calgary Single Family home sales and Condo sales for the month of December declined slightly from November. Again the holiday season can account for this trend.
| Sales | November 2011 | December 2011 | Change |
| Single Family Home | 962 | 722 | -240 |
| Condo’s | 391 | 310 | -81 |
| Total | 1353 | 1032 | -321 |
Calgary Sales Year to Date
Sales for both single family homes and condos showed an increase over 2010, a very positive sign moving forward.
| Sales | Total 2010 | Total 2011 | Change | % Change |
| Single Family Home | 12,091 | 13,186 | 1095 | 9.06% |
| Condo’s | 5,176 | 5,382 | 206 | 3.98% |
| Total | 17267 | 18,568 | 1301 | 7.53% |
Calgary Real Estate Sales Prices: In 2011 Single family home prices decreased by $9,175 while the median price of condo’s increased by $5,875. 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 download free action game for girls below to really see what’s happening.
| Sales Prices | November Median Prices | December Median Prices | Change |
| Single Family Homes | $402,925 | $393,750 | -$9,175 |
| Condo’s | $252,000 | $257,875 | $5,875 |
*** Calgary Real Estate Sales Prices Year to Date
As you can see from the chart below the Median Sales price of both single family homes and condos remained almost constant this year. We had a bit of a roller coaster with prices bouncing up and down but they are not showing a single direction.
| End of 2010 | End of 2011 | Change | % Change | |
| Single Family Homes | $389,000 | $393,750 | $4,750 | 1.2% |
| Condo’s | $260,000 | $257,875 | -$2.125 | -.82% |
Forecast for 2012
On the 18th of January the Calgary Real Estate Board put’s on their annual forecast breakfast where they bring in experts and share the forecasts for 2012. As soon as the forecasts are available I will summarize for you.
If you have any questions about this summary, or would like a full copy of the December Stats package please contact us.
Gord, Eric & Brent
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