The Gord Piper & Associates Real Estate Blog

Gord Piper and Associates are proud to present a snapshot of the Calgary Real Estate Market for May 2012. Below you will find a summary of some key areas with a few short comments.  All data is taken from the Calgary Real Estate Board‘s monthly stats package.

Calgary Listing Inventory: Inventory levels for all categories increased by almost 9.0 %.  Rising inventories can be a flag for the market cooling however the sales also increased by 8.2% so we are still below a
2.5 month inventory turnover indicating a balanced market.

Sales increased in all categories equally this month.  What’s interesting is that for all categories combined we are 31.77% higher than the same period last year.

With inventory increasing only slightly and sales increasing slightly it only makes sense that we see prices
start to rise.  As you can see below Single Family homes saw the largest increase.  I believe this is because the increase in sales activity on single family homes started a few months before condo sales started increasing.

Overall the market is now in a balanced market position and the amount of new listings in the next month might determine the direction for the rest of the year.   It is interesting as there are still many communities that are in a buyer’s market position as they have a higher inventory.  If you want to know how your community sit’s please contact us.

Gord, Brent and Eric