Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening! 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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August saw a small increase to our inventory levels and a decrease in sales numbers in all categories. Prices remained flat however our Absorption rate increased. This is somewhat typical of August with summer holidays and people away.
| Inventory | July 2015 | Aug 2015 | Change |
| Detached | 2728 | 2801 | +73 |
| Attached | 1104 | 1130 | +26 |
| Apartment | 1223 | 1215 | -8 |
| Total City of Calgary | 5055 | 5146 | +91 |
Calgary Sales:
Sales for all categories decreased this month. While the percentages look high the important thing to know is that sales in August have almost always been lower than July sales. Last year sales were down for the same period 18.1%
| Sales | July 2015 | Aug 2015 | Change | % Change |
| Detached | 1222 | 1000 | -222 | -18.2% |
| Attached | 449 | 364 | -85 | -18.9 |
| Apartment | 324 | 279 | -45 | -13.8 |
| Total City of Calgary | 1995 | 1643 | -352 | -17.6 |
Calgary Real Estate Sales Prices:
Prices in all categories changed very little this month. Based on the absorption rate below my prediction is that detached homes could see small price increases, Attached homes should remain fairly flat while apartment condos should see very small price decreases.
| Sales Prices | July 2015
Benchmark Price |
Aug 2015
Benchmark Price |
Change |
| Detached | 515,300 | 516,000 | +700 |
| Attached | 355,300 | 356,700 | +1400 |
| 00Apartment | 293,300 | 294,100 | +800 |
| Total City of Calgary | 455,400 | 456,300 | +900 |
Sales Prices “Year to Date”
Year to date prices – All categories have decreased except attached homes have gone up by $700.00
| Sales Prices | Dec 31, 2014 Benchmark Price | Aug 2015 Benchmark Price | Change
$ |
% Change |
| Detached | 518,600 | 516,000 | -2,600 | -.50% |
| Attached | 356,200 | 356,700 | +700 | +.19% |
| Apartment | 300,400 | 294,100 | -6,300 | -2.1% |
| Total City of Calgary | 459,500 | 456,300 | -3,200 | .69% |
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:
In August the absorption rate increased for all categories. Inventory stayed almost the same while sales decreased meaning the number of months of supply increased. This leaves detached homes just in a seller’s market, attached homes in a balanced market while apartment condos have moved into a buyer’s market position.
| Absorption Rate | July 2015 | Aug 2015 | Change |
| Detached | 2.23 | 2.80 | +.57 |
| Attached | 2.46 | 3.1 | +.64 |
| Apartment | 3.77 | 4.35 | +.58 |
| Total City of Calgary | 2.53 | 3.13 | +60 |
**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