What is really happening in the Calgary Real Estate market?
Stay ahead of everyone else 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 most importantly the relationship between the two and how it affects the price of Calgary Real Estate. A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.
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 2.4 to 4.0 | Prices typically remain stable |
| Seller’s Market | <2.4 | Drives prices up |
Calgary Real Estate Market Snapshot Showing months of Inventory supply
The absorption rate for all of Calgary stayed flat this month. Detached Homes, Semi-Detached stayed almost the same. Attached-Row went down by .67 while Apartment Condos went up by .26
| November 2016 | December 2016 | Change | |
| Detached | 2.99 | 3.01 | 0.02 |
| Semi Detached | 4.01 | 3.83 | -0.18 |
| Attached – Row | 5.42 | 4.75 | -0.67 |
| Apartment | 7.33 | 7.59 | 0.26 |
| Total City | 4.05 | 4.04 | -0.02 |
Calgary Listing Inventory
December saw a decrease in inventory levels in all categories. This is very normal for the month of December as people were focused on the holidays and many people wait till after Christmas and New Years to list.
| Inventory | November 2016 | December 2016 | Change |
| Detached | 2322 | 1719 | -603 |
| Semi Detached | 453 | 368 | -85 |
| Attached – Row | 770 | 570 | -200 |
| Apartment | 1430 | 1108 | -322 |
| Total City | 4975 | 3765 | -1210 |
Calgary Sales:
Sales in all categories decreased substantially this month. This is again very normal as people are focused on the holidays and not real estate during December. To put things in perspective let’s compare with last year.
2016 Sales from Nov to Dec decreased by 23.91%
2015 Sales from Nov to Dec decreased by 30.4%
This tells me that we had less of a drop in sales in Dec 2016 compared to Dec 2015.
| Calgary Sales | November 2016 | December 2016 | Change | % Change |
| Detached | 777 | 571 | -206 | -26.51% |
| Semi Detached | 113 | 96 | -17 | -15.04% |
| Attached – Row | 142 | 120 | -22 | -15.49% |
| Apartment | 195 | 146 | -49 | -25.13% |
| Total City | 1227 | 933 | -294 | -23.96% |
Calgary Real Estate Sales Prices:
As you can see the price changes in December were quite small. The categories that showed the most decline are the Attached- Row and Apartment Condo Sector. It’s no surprise that these are also the categories with the highest absorption rates.
| Sales Prices | Nov 2016 Benchmark Price | Dec 2016 Benchmark Price | Change |
| Detached | 498,300 | 498,300 | 0 |
| Semi Detached | 384,800 | 385,400 | 600 |
| Attached – Row | 309,400 | 307,900 | -1,500 |
| Apartment | 271,300 | 269,200 | -2,100 |
| Total City | 436,200 | 435,400 | -800 |
Sales Prices “Year to Date”
Year to date prices
| Sales Prices | Dec 31, 2015 Benchmark Price | Dec 31, 2016 Benchmark Price | Change
$ |
% Change |
| Detached | 514,100 | 498,300 | -15,800 | -3.07% |
| Semi Detached | 393,100 | 385,400 | -7,700 | -1.96% |
| Attached – Row | 318,500 | 307,900 | -10,600 | -3.33% |
| Apartment | 288,000 | 269,200 | -18,800 | -6.53% |
| Total City | 452,800 | 435,400 | -17,400 | -3.84% |
**Please note that these numbers include on Calgary homes and do change on a community basis and more so for towns. This report does not include rural properties. If you would like to find stats on your community just let us know. If you have any questions about this summary or Real Estate questions please contact us.
Tags: Calgary Condo Prices, Calgary Home Prices, calgary real estate market stats, NW Calgary Real Estate