What is really happening in the Calgary Real Estate market?
Calgary Real Estate Absorption Rate
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 |
The absorption rate for April remained fairly flat. Detached homes changes only by .13%. Semi detached rate decreased by .04% while attached homes and Townhouses both increased by .5% This leaves us in the following market positions:
- Sellers Market – Detached and Semi-Detached Homes
- Balanced Market – Row or Townhouses
- Buyers Market – Apartment Condo’s
| March 2017 | April 2017 | Change | |
| Detached | 1.97 | 2.09 | 0.13 |
| Semi Detached | 2.29 | 2.25 | -0.04 |
| Attached – Row | 3.38 | 3.92 | 0.54 |
| Apartment | 5.22 | 5.74 | 0.52 |
| Total City | 2.68 | 2.87 | 0.18 |
Calgary Listing Inventory
April saw a slight increase in our inventory level in all categories except Semi Detached which remained even. Increasing inventory is a normal pattern for April as we are approaching the spring market. Expect our inventory to continue to increase over the next few months.
| Inventory | March 2017 | April 2017 | Change |
| Detached | 2312 | 2522 | 210 |
| Semi Detached | 463 | 463 | 0 |
| Attached – Row | 764 | 863 | 99 |
| Apartment | 1575 | 1647 | 72 |
| Total City | 5114 | 5495 | 381 |
Calgary Sales:
All categories remained flat in sales. Overall we had 11 more sales in April then in March. This again is a fairly normal pattern and I expect this number to start to increase as buyers tend to come out once spring starts to arrive. We are starting to see lots of competing offers again in the detached market.
| Calgary Sales | March 2017 | April 2017 | Change | % Change |
| Detached | 1176 | 1204 | 28 | 2.38% |
| Semi Detached | 202 | 206 | 4 | 1.98% |
| Attached – Row | 226 | 220 | -6 | -2.65% |
| Apartment | 302 | 287 | -15 | -4.97% |
| Total City | 1906 | 1917 | 11 | 0.58% |
Calgary Real Estate Sales Prices:
Prices this month increased marginally in all categories except for Apartment Condos which went down by $500. The increases in the Detached and Semi Detached homes were small and Row Houses actually increased by $1800. Based on the absorption rate I believe you will continue to see increases in all Detached and Semi Detached Homes, prices should remain flat for Attached-Row houses and a slight decline in apartment condos which are still very much in a buyer’s market position.
| Sales Prices | March 2017 2016 Benchmark Price | April 2017 Benchmark Price | Change |
| Detached | 503,900 | 504,100 | 200 |
| Semi Detached | 389,600 | 390,200 | 600 |
| Attached – Row | 304,100 | 305,900 | 1,800 |
| Apartment | 269,700 | 269,200 | -500 |
| Total City | 439,400 | 439,600 | 200 |
Sales Prices “Year to Date”
| Sales Prices | Jan 1, 2017 Benchmark Price | April 2017 Benchmark Price | Change
$ |
% Change |
| Detached | 498,300 | 504,100 | 5,800 | 1.16% |
| Semi Detached | 385,400 | 390,200 | 4,800 | 1.25% |
| Attached – Row | 307,900 | 305,900 | -2,000 | -0.65% |
| Apartment | 269,200 | 269,200 | 0 | 0.00% |
| Total City | 435,400 | 439,600 | 4,200 | 0.96% |
Price Notes
**Please note that these numbers include only 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 me know. If you have any questions about this summary or Real Estate questions please feel free to contact us.
Tags: Calgary Condo Prices, Calgary Home Prices, May Calgary Real Estate Market Snapshot, May Calgary Real Estate stats