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: December 1, 2019
Below see all the stats (Info taken from the Calgary Real Estate Boards Monthly Stats Package.
Gord’s Commentary
A few comments on this month.
Overall the market softened a little in November.
Current Months of Inventory (Absorption Rate):
November saw a different picture for each Sector although they all saw increases:
Detached homes increased by .14
Semi-Detached increased by 1.37
Attached Row increased by .88
Apartment increased by 1.61
Total Market increased by .56
Calgary Listing Inventory
Calgary listing inventory decreased in all sectors this month for a total of 635 listings less than one month ago. The largest decrease came in the Detached Sector with a decrease of 463 listings. Typically, this is the trend we will see until the end of the year.
Calgary Sales:
Sales for November decreased 287 or 19.83% down from October sales. Every sector decreased a little with the largest decrease being in the Detached sector of 142 less. Sales decreasing in November is a very typical for the month.
Sales Compared to 2018:
November Sales were 98.9% of last years sales so we are down by only 12 sales from November 2018.
Calgary Real Estate Sales Prices:
Prices for Detached homes showed an increase in Benchmark price of $100. Semi-Detached, Attached Row, and Apartments all saw decreased this month.
Semi-detached decreased by 7,100
Attached Row decreased by 6,700
Apartment Condos decreased by 3,600
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.
Tags: Absorption Rate Calgary, Calgary Condo Prices, Calgary Home Prices, Calgary Real Estate Market Snapshot