What is really happening in the Calgary Real Estate Market?
Graph shows the 2 year trend of Months of Inventory for all housing categories in the Calgary Real Estate Market.
Current Report: September 1, 2019
A slightly new format this month and moving forward due to technology challenges with reading the graphs on a cell phone. This should help.
Below see all the stats (Info taken from the Calgary Real Estate Boards Monthly Stats Package.
Gord’s Commentary
Current Months of Inventory (Absorption Rate):
The big change here is that Semi-Detached homes months of inventory decreased by 59. This is a large change and is moving closer toward a balanced market.
Detached homes increased by .26 but are still sitting in a balanced market. Of interest if you look at this number for detached homes under $500,000 it puts us into a Sellers market in many communities. Apartment and Attached-Row homes moved up but only by .14
Calgary Listing Inventory
Through August our Listing Inventory decreased slightly in all housing sectors for a total of 127 less listings on Sept 1st than on Ang 1st. In my opinion this is a seasonal trend with less people selling due to back to school etc.
Calgary Sales:
Sales for August decreased for detached homes by 87, Attached Row homes and Apartment Condos decreased by 10 and 9. Semi Detached homes increased by 14.
Overall change is 62 less sales which is identical to last year so I’m going to call it a seasonal adjustment.
Sales Compared to 2018:
August sales over 2019 were 106.3% on August sales in 2018. This is the exact same number as last month.
Calgary Real Estate Sales Prices:
August saw detached homes increase by $7000 – I believe this is driven by homes under $500,000 where we are seeing a Seller’s market. All other sectors were within $1000 so really no change.
Months of Inventory/Absorption Rate: What does this mean you might ask?
The inventory divided by the number of sales in the last month).
**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.
