What is really happening in the Calgary Real Estate Market?
Months of housing inventory for last 2 years.
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 |
April end Absorption Rate
For the month of April we had some larger changes here. Semi-Detached increased by 1.3, Detached increased by .4, while apartment condos decreased by .65 which has been drastically needed. In my opinion we can be thankful that our inventory to sales is staying somewhat balanced considering the lull in sales.
| End of |
Mar 2018 |
Apr 2018 |
Change |
| Detached |
3.61 |
4.01 |
0.40 |
| Semi Detached |
4.70 |
6.00 |
1.30 |
| Attached – Row |
5.77 |
5.60 |
-0.17 |
| Apartment |
7.72 |
7.06 |
-0.65 |
| Total City |
4.64 |
4.82 |
0.19 |
Calgary Listing Inventory
In April, our inventory increased in all Sectors. This is totally expected at this time of year. This trend is anticipated until the end of June as more people list their homes in Spring.
| Inventory |
Mar 2018 |
Apr 2018 |
Change |
| Detached |
3063 |
3642 |
579 |
| Semi Detached |
677 |
756 |
79 |
| Attached – Row |
941 |
1075 |
134 |
| Apartment |
1690 |
1851 |
161 |
| Total City |
6371 |
7324 |
953 |
Calgary Sales:
While our monthly numbers are trending upwards in all categories except Semi-detached these stats don’t show the comparison to last year. Compared to last year Jan to April end we are down in Sales by 19.6%
As pointed out last month this can be due to a number of factors including but not limited to:
- Weather
- Mortgage rules changes from Jan 1
- Calgary’s economy
- Consumer lack of confidence.
| Calgary Sales |
Mar 2018 |
Apr 2018 |
Change |
% Change |
| Detached |
848 |
908 |
60 |
7.08% |
| Semi Detached |
144 |
126 |
-18 |
-12.50% |
| Attached – Row |
163 |
192 |
29 |
17.79% |
| Apartment |
219 |
262 |
43 |
19.63% |
| Total City |
1374 |
1518 |
144 |
10.48% |
Calgary Real Estate Sales Prices:
Prices in April showed very little change for all categories. All categories increased with the exception of Apartment Condos and based on the absorption rate this will continue for some time.
| Sales Prices |
Mar 2018 Benchmark Price |
Apr 2018 Benchmark Price |
Change |
| Detached |
503,800 |
504,500 |
700 |
| Semi Detached |
418,800 |
420,000 |
1,200 |
| Attached – Row |
297,600 |
300,000 |
2,400 |
| Apartment |
257,100 |
256,700 |
-400 |
| Total City |
435,600 |
436,500 |
900 |
Sales Prices “Year to Date”
| Sales Prices |
Jan 1, 2018 Benchmark Price |
Apr 2018 Benchmark Price |
Change
$ |
% Change |
| Detached |
499,600 |
504,500 |
4,900 |
0.98% |
| Semi Detached |
416,600 |
420,000 |
3,400 |
0.82% |
| Attached – Row |
299,500 |
300,000 |
500 |
0.17% |
| Apartment |
257,700 |
256,700 |
-1,000 |
-0.39% |
| Total City |
433,200 |
436,500 |
3,300 |
0.76% |
**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 or if you have any questions about this summary or about Real Estate in general, please feel free to contact us.
