Calgary Real Estate Market Snapshot: June 1, 2019

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.

 

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This entry was posted on Tuesday, June 4th, 2019 at 8:38 am and is filed under Blog, Market Snapshot. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.