Want to know what’s really happening in the Calgary Real Estate Market. Below you will find a summary of some key areas with a few short comments. All stats are taken from the Realtors June stats package from the Calgary Real Estate Board.
Calgary housing market continues to perform!
Calgary Listing Inventory: Inventory levels for all categories remained almost flat for June.
| Inventory |
May 2012 |
June 2012 |
Change |
| Single Family Home |
3842 |
3817 |
-25 |
| Condo Townhouse |
675 |
693 |
+18 |
| Condo Apartment |
1222 |
1205 |
-17 |
| Total |
5739 |
5715 |
-24 |
Calgary Sales:
Sales decreased slightly in all categories this month. In my opinion this was expected as we are following the same trend as last year when our sales peaked in June. Total Residential sales however were 16% higher for the first half of this year compared to last year.
| Sales |
May 2012 |
June 2012 |
Change |
% Change |
| Single Family Home |
1710 |
1609 |
-101 |
-5.9 |
| Condo Townhouse |
289 |
253 |
-36 |
-12.4 |
| Condo Apartment |
386 |
340 |
-46 |
-11.9 |
| Total |
2385 |
2202 |
-183 | -7.7 |
Calgary Real Estate Sales Prices: Please note that we are now using the Benchmark price for this comparison.
As the chart below demonstrates the benchmark price for all categories increased marginally this month. In my opinion this is a very healthy market with good activity level and prices showing modest increases.
| Sales Prices | May 2012 Benchmark Price |
June 2012 Benchmark Price |
Change |
| Single Family Homes |
427,500 |
430,800 |
+3,300 |
| Condo Townhouse |
277,000 |
278,000 |
+1,000 |
| Condo Apartment |
245,400 |
246,300 |
+900 |
The absorbtion rate is the number of listings divided by the number of sales in the last month. absorbtion rates are as follows:
Single Family Homes: 2.24
Townhouses: 2.33
Apartment Condos: 4.23
This tells me that single family homes and townhouses are moving quicker than apartment style condos.
Overall the market is now in a balanced 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 sit’s let me know.
If you have any questions about this summary, or any general Real Estate questions please feel free to contact us anytime.
If you find this info useful please pass on to others who will benefit.
Gord, Eric & Brent