Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening in the Calgary Real Estate Market. The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate. A simple way to keep up to date and ahead of most!
Below are the details along with a few comments, all numbers were taken from the Calgary Real Estate Boards Stats package for Realtors.
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April saw a decrease in inventory and an increase in sales resulting in a stronger market. This puts us into a balanced market position overall. Detached and Attached homes are now in a sellers’ market position while apartment condos are in a balanced market position.
Calgary Listing Inventory: It is interesting to see that the inventory went down this month. This is partially due to not as many new listings hit the market and that sales increased. This is opposite of what I would normally expect for April.
| Inventory | March 2015 | April 2015 | Change |
| Detached | 3016 | 3024 | +8 |
| Attached | 1258 | 1207 | -51 |
| Apartment | 1419 | 1348 | -71 |
| Total City of Calgary | 5693 | 5579 | -114 |
Calgary Sales:
Sales in all categories increased this month. This is a normal trend where getting near the summer the sales increase.
| Sales | March 2015 | April 2015 | Change | % Change |
| Detached | 1061 | 1149 | +88 | +8.3% |
| Attached | 387 | 458 | +71 | +18.3% |
| Apartment | 299 | 350 | +51 | +17.0% |
| Total City of Calgary | 1747 | 1957 | +210 | +12.0% |
Calgary Real Estate Sales Prices:
Prices in all categories decreased marginally this month. The largest decrease is in the detached home category which is a little surprising as this is the category that is in the strongest market position. Based on the absorption rate below my prediction is that detached and attached homes will stay fairly stable while apartment condos should see decreases until our sales/inventory ratio balances out.
| Sales Prices | March 2015 Benchmark Price | April 2015
Benchmark Price |
Change |
| Detached | 513,800 | 510,200 | -3,600 |
| Attached | 354,800 | 353,300 | -1,500 |
| Apartment | 293,300 | 291,300 | -2,000 |
| Total City of Calgary | 454,300 | 451,600 | -2,700 |
Sales Prices “Year to Date”
Year to date prices – All categories have decreased.
| Sales Prices | Dec 31, 2014 Benchmark Price | April 2015 Benchmark Price | Change
$ |
% Change |
| Detached | 518,600 | 510,200 | -8,400 | -1.6% |
| Attached | 356,200 | 353,300 | -2,900 | -.8% |
| Apartment | 300,400 | 291,300 | -9,100 | 3.0% |
| Total City of Calgary | 459,500 | 451,600 | -7,900 | -1.7% |
Absorption Rate (Months of Inventory) (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 2.8 to 4.0 | Prices typically remain stable |
| Seller’s Market | <2.8 | Drives prices up |
*** Absorption Rate:
The absorption rate decreased again for all categories. What this means is that the relation to sales over inventory decreased. This puts detached homes and attached homes into a seller’s market, while apartment condos have now moved from a buyer’s market to a balanced market.
| Absorption Rate | March 2015 | April 2015 | Change |
| Detached | 2.84 | 2.63 | -.21 |
| Attached | 3.25 | 2.64 | -.61 |
| Apartment | 4.75 | 3.85 | -.9 |
| Total City of Calgary | 3.26 | 2.85 | -.41 |
**Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just let me know. If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us.
If you know anyone else who might enjoy seeing our monthly summary please feel free to pass this on. Gord, Eric, Brent & Amy
TSW Real Estate Group