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.
August 1, 2019 Market Snapshot Report
Highlights:
Detached homes move into a balanced market position.
Apartment Condos Months of Inventory drops by 1.11
Semi Detached Months of Inventory Increases by 1.02
Here are the number’s for July 2019
A short explanation of the above numbers including highlights.
Current Months of Inventory:
Through July our Months of Inventory is all over the map. Apartment Condo’s dropped by 1.11 which is a large change. At the same time Semi – Detached homes increased by 1.02 again a big jump. Detached homes, Attached Row and the total for Calgary all increased marginally.
Calgary Listing Inventory
In July, our inventory decreased in all sectors. The decreased inventory is due to less new listings hitting the market and stronger sales.
Calgary Sales:
Sales for July decreased in all categories except Apartment Condos which increased only marginally. This to me is an interesting number as sales normally trend downward from June to July as we have the Calgary Stampede and Summer Vacations are getting underway. This in my opinion is a sign that the strength of Calgary Real Estate Market is getting better.
Sales Compared to 2018:
June 2019 was 93.9% of June 2018 sales
July 2019 was 106.4% of July 2018 Sales so a very good improvement.
Calgary Real Estate Sales Prices:
July prices remained very similar to June’s prices. The largest change is in Attached-Row houses which increased by $2,100
**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: Calgary Condo Prices, Calgary Home Prices, Calgary Real Estate Absorption Rate, Calgary Real Estate Market Snapshot