Another exciting month in the Calgary Real Estate Market. With our Inventory increasing only slightly and the sales increasing substantially it is driving prices upwards. We have noticed that especially in some Northwest Communities it is becoming harder to find quality homes for our clients. Below you will snapshot of whats happening in the Calgary Real Estate Market.
Calgary Listing Inventory:
Inventory levels for both Single Family homes and Condo’s increased this month. This movement is normal for this time of year but what is important to look at is the increase compared to our sales. This increase now seems small and what we are seeing on the street is that it is getting hard to find good homes in certain areas now.
| Inventory | Feb 2012 |
March 2012 | Change |
| Single Family Home |
3093 | 3367 | 274 |
| Condo Apartment |
1031 | 1119 | 88 |
| Condo Townhouse |
612 | 606 | -6 |
| Total |
4736 | 5092 | +356 |
Calgary Sales:
The chart below speaks for itself with sales in all categories increasing.
| Sales | February 2012 | February 2012 | Change | % Change |
| Single Family Home | 1284 | 1576 | +292 | +22.7 |
| Condo Apartment | 248 | 356 | +108 | +43.5 |
| Condo Townhouse | 205 | 235 | +30 | +2.2 |
| Total | 1737 | 2167 | +430 | +24.7% |
Calgary Real Estate Sales Prices: Please note that we are now using the
Benchmark price from the Calgary Real Estate Board for this comparison.
Again the chart below speaks for itself. With inventory increasing only slightly and sales increasing substantially it only makes sense that we see prices start to rise. Simply Supply and demand at work.
| Sales Prices | Feb 2012 Benchmark Price |
March 2012 Benchmark Price | Change |
| Single Family Homes | 427,000 | 433,500 | +6500 |
| Condo Apartment | 242,900 | 247,800 | +4900 |
| Condo Townhouse | 288,600 | 293,600 | +5000 |
Overall the market is now in a seller’s market position. It is interesting as there are still many communities that are in a buyer’s market position as they have a higher inventory. If you want to know how your community is positioned let me know.
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, Eric & Brent
Tags: calgary real estate, Calgary Real Estate Board, calgary real estate prices, Calgary Real Estate Stats