What is really happening in the Calgary Real Estate Market?
If you are new to our Monthly Snapshot please scroll to bottom for explanation.
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Current Report: June 1, 2019
Current Months of Inventory:
More good news for the Real Estate Market this month. All housing sectors decreased in the months of inventory with the highest decrease being in the Apartment Condo sector and a close 2nd for Semi- Detached. Of Special note both Detached Homes and Semi-Detached homes moved into balanced market territory.
| End of | April 2019 | May 2019 | Change |
| Detached | 3.97 | 3.32 | -0.65 |
| Semi Detached | 4.63 | 3.91 | -0.72 |
| Attached – Row | 5.29 | 4.98 | -0.31 |
| Apartment | 6.16 | 5.25 | -0.91 |
| Total City | 4.57 | 3.89 | -0.68 |
Calgary Listing Inventory
In May, our inventory rose in all categories which is very normal for this time of year.
| Inventory (End of) | April 2019 | May 2019 | Change |
| Detached | 3691 | 3921 | 230 |
| Semi Detached | 773 | 793 | 20 |
| Attached – Row | 1053 | 1100 | 47 |
| Apartment | 1546 | 1653 | 107 |
| Total City | 7063 | 7467 | 404 |
Calgary Sales:
Sales for May increased in all sectors compared to April. Sales increasing is again an expected change as we move into the spring market. The good news is that sales increases are outpacing listing inventory moving the entire market closer to balanced.
| Calgary Sales | April 2019 | May 2019 | Change | % Change |
| Detached | 930 | 1182 | 252 | 27.10% |
| Semi Detached | 167 | 203 | 36 | 21.56% |
| Attached – Row | 199 | 221 | 22 | 11.06% |
| Apartment | 251 | 315 | 64 | 25.50% |
| Total City | 1547 | 1921 | 374 | 24.18% |
***Sales Compared to last year***
In April our sales showed an increase over last April which is the first time in a few years that this has happened. Hoping the trend continues.
| Jan | Feb | Mar | Apr | May | June | July | Aug | Sept | Oct | Nov | Dec | |
| 2018 | 102% | 82% | 72% | 80% | 82% | 89% | 95% | 93% | 85.9% | 89.9% | 83.0 | 78.6 |
| 2019 | 83.8% | 89.6% | 97.1% | 102.2% | 111.4 |
Calgary Real Estate Sales Prices:
May saw price increases in all sectors except Apartment Condos. Being that apartment condos have the highest months of inventory of all sectors, this is an expected result.
| Sales Prices | Apr 2018 Benchmark Price | May 2019 Benchmark Price | Change |
| Detached | 478,700 | 487,900 | 9,200 |
| Semi Detached | 395,300 | 397,700 | 2,400 |
| Attached – Row | 284,900 | 286,500 | 1,600 |
| Apartment | 250,400 | 248,200 | -2,200 |
| Total City | 415,900 | 424,600 | 8,700 |
Sales Prices “Year to Date”
This is a positive month as the Detached sector moved into positive territory for the year, Semi-detached are almost break even while apartment Condos and Row Houses still have a ways to go.
| Sales Prices | Jan 2019 Benchmark Price | May 31, 2019 Benchmark Price | Change
$ |
% Change |
| Detached | 481,400 | 487,900 | 6,500 | 1.35% |
| Semi Detached | 397,500 | 397,700 | 200 | 0.05% |
| Attached – Row | 288,400 | 286,500 | -1,900 | -0.66% |
| Apartment | 251,500 | 248,200 | -3,300 | -1.31% |
| Total City | 418,500 | 424,600 | 6,100 | 1.46% |
Explanation of our Calgary Real Estate Market Snapshot.
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: If we did not list any more homes this is how many months it would take to deplete inventory.
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 |
**Please note that these numbers include only Calgary and do change on a community basis, and more so for towns. This report does not include rural properties and does not consider differences in different price ranges. 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.