Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening in the Calgary Real Estate Market. The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate. A simple way to keep up to date and ahead of most!
Below are the details along with a few comments, all numbers were taken from the Calgary Real Estate Boards Stats package for Realtors.
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Calgary housing market is changing again. May saw a decrease in inventory and an increase in Sales tightening up the supply and moving us into a sellers’ market.
Calgary Listing Inventory: It is interesting to see that the inventory went down in all categories this month. This is partially due to not as many new listings hit the market and that sales increased. This is opposite of what I would normally expect for May as typically people list in May as the summer is approaching.
| Inventory | April 2015 | May 2015 | Change |
| Detached | 3024 | 2913 | -111 |
| Attached | 1207 | 1136 | -71 |
| Apartment | 1348 | 1293 | -55 |
| Total City of Calgary | 5579 | 5342 | -237 |
Calgary Sales:
Sales in all categories increased this month. This is a normal trend where getting near the summer the sales increase.
| Sales | April 2015 | May 2015 | Change | % Change |
| Detached | 1149 | 1366 | +216 | +18.8 |
| Attached | 458 | 465 | +7 | +.15 |
| Apartment | 350 | 359 | +9 | +2.5 |
| Total City of Calgary | 1957 | 2190 | +233 | +11.9 |
Calgary Real Estate Sales Prices:
Prices in all categories increased marginally this month. Apartment condos showed the largest increase.
Based on the absorption rate below my prediction is that detached and attached homes will stay fairly stable or see small price increases while apartment condos should see slight decreases or stay flat.
| Sales Prices | April 2015
Benchmark Price |
May 2015
Benchmark Price |
Change |
| Detached | 510,200 | 512,800 | +2,600 |
| Attached | 353,300 | 354,000 | +700 |
| Apartment | 291,300 | 294,800 | +3,500 |
| Total City of Calgary | 451,600 | 454,100 | +2,500 |
Sales Prices “Year to Date”
Year to date prices – All categories have decreased.
| Sales Prices | Dec 31, 2014 Benchmark Price | May 2015 Benchmark Price | Change
$ |
% Change |
| Detached | 518,600 | 512,800 | -5,700 | -1.1 |
| Attached | 356,200 | 354,000 | -2,200 | -.6 |
| Apartment | 300,400 | 294,800 | -5,600 | -1.8 |
| Total City of Calgary | 459,500 | 454,100 | -5,400 | -1.2 |
Absorption Rate (Months of Inventory) (the inventory divided by the number of sales in the last month). What does this mean you might ask?
| Buyer’s Market | >4.0 | Drives prices down |
| Balanced Market | Between 2.8 to 4.0 | Prices typically remain stable |
| Seller’s Market | <2.8 | Drives prices up |
*** Absorption Rate:
The absorption rate decreased again for all categories. What this means is that the relation to sales over inventory decreased. This puts detached homes and attached homes into a seller’s market, while apartment condos have stayed in a balanced market.
If this trend continues we are going to start seeing a lack of homes for buyers causing multiple offers and larger price increases.
| Absorption Rate | April 2015 | May 2015 | Change |
| Detached | 2.63 | 2.13 | -.5 |
| Attached | 2.64 | 2.44 | -.2 |
| Apartment | 3.85 | 3.6 | -.25 |
| Total City of Calgary | 2.85 | 2.44 | -.41 |
**Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just 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.
If you know anyone else who might enjoy seeing our monthly summary please feel free to pass this on. Gord, Eric, Brent
TSW Real Estate Group