What is really happening in the Calgary Real Estate Market?
Months of Inventory for last 2 years.
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.
Months of Inventory/Absorption Rate – 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 |
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Current Months of Inventory: If we did not list any more homes this is how many months it would take to deplete inventory. In October we saw every category decrease in the number of months of inventory, however all categories are still in a Buyers Market position.
| End of | Sept 2018 | Oct 2018 | Change |
| Detached | 5.49 | 4.80 | -0.69 |
| Semi Detached | 7.09 | 6.53 | -0.56 |
| Attached – Row | 7.58 | 6.59 | -0.99 |
| Apartment | 7.68 | 7.12 | -0.56 |
| Total City | 6.25 | 5.56 | -0.69 |
Calgary Listing Inventory
In October, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector followed by the Apartment Condo sector and then Attached-Row. This is normal at this time of year and we should expect this trend to continue for the rest of the year.
| Inventory | Sept 2018 | Oct 2018 | Change |
| Detached | 4348 | 3976 | -372 |
| Semi Detached | 872 | 823 | -49 |
| Attached – Row | 1107 | 1009 | -98 |
| Apartment | 1620 | 1509 | -111 |
| Total Calgary | 7947 | 7345 | -602 |
Calgary Sales:
An interesting twist, normally we see sales drop in October over Sept, yet this year we saw an increase. Not a large increase but an increase.
| Calgary Sales | Sept 2018 | Oct 2018 | Change | % Change |
| Detached | 792 | 829 | 37 | 4.67% |
| Semi Detached | 123 | 126 | 3 | 2.44% |
| Attached – Row | 146 | 153 | 7 | 4.79% |
| Apartment | 211 | 212 | 1 | 0.47% |
| Total City | 1272 | 1322 | 50 | 3.93% |
Sales Compared to last year: Thought this is a number that deserves a look as the trend is changing. Chart shows this year’s sales as a percentage of last years so yes, sales are down but they are down less than at the beginning of the year.
| Jan | Feb | Mar | Apr | May | June | July | Aug | Sept | Oct | Nov | Dec |
| 102% | 82% | 72% | 80% | 82% | 89% | 95% | 93% | 85.9% | 90.1% |
Calgary Real Estate Sales Prices:
October saw prices decrease in all sectors except Apartment Condos which did not change. This is expected with the high number of months of inventory on the market. Unless something changes we can expect to see this trend for a few more months.
| Sales Prices | Sept 2018 Benchmark Price | Oct 2018 Benchmark Price | Change |
| Detached | 493,100 | 490,200 | -2,900 |
| Semi Detached | 407,400 | 403,400 | -4,000 |
| Attached – Row | 294,200 | 293,400 | -800 |
| Apartment | 257,200 | 257,200 | 0 |
| Total City | 428,700 | 426,300 | -2,400 |
Sales Prices “Year to Date”
Same as monthly number
| Sales Prices | Jan 1, 2018 Benchmark Price | Oct 2018 Benchmark Price | Change
$ |
% Change |
| Detached | 499,600 | 490,200 | -9,400 | -1.88% |
| Semi Detached | 416,600 | 403,400 | -13,200 | -3.17% |
| Attached – Row | 299,500 | 293,400 | -6,100 | -2.04% |
| Apartment | 257,700 | 257,200 | -500 | -0.19% |
| Total City | 433,200 | 426,300 | -6,900 | -1.59% |
**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 about Real Estate in general, please feel free to contact us.
Tags: Calgary Condo Prices, Calgary Real Estate Market, calgary real estate prices, Calgary Real Estate Stats, Monthly Market snapshot