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Calgary Real Estate Market Snapshot for June 1, 2022

Wednesday, June 1st, 2022

What is really happening in the Calgary Real Estate Market?

Change is  happening

 

Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.

Months of Inventory

Months of Inventory

 

 

Gord’s commentary for the month (just my opinion).

May 2022 Highlights

  • All sectors increased the months of Inventory this month.
  • All sectors however are still in a seller’s market position
  • All Sectors showed marginal increases in price

Calgary Listing Inventory

Listing inventory increased in all sectors combined by a total of 350 listings. Detached and Semi-Detached increased the least both under 6% while Apartment Condos and Row Houses increased by 11.2% and 12.75%. See chart below for details

 

Calgary Sales:

Sales in all categories decreased from April. The decrease for all sectors was less than 50 except detached homes where the decrease was 231 sales less. See chart below for details

  

Sales Compared to 2021: 

Calgary home sales for May were just slightly higher than in May 2021 – by 90 Sales or 1.03%

 

  Jan Feb Mar Apr May June July
2021 1207 1831 2903 3204 2981    
2022 2009 3305 4107 3401 3071    
Change + 802 1474 +1204 +197 90    
% Change + 66.4% +180.5% +141.5% +1.06 +1.03%    

  

  Aug Sept Oct Nov Dec
2020 1574 1702 1763 1438 1199
2021 2151 2162 2186 2110 1737
Change +577 +456 + 423 +672 +538
% Change 136.6% 126.7% 123.9% 146.7% 144.9%

 

 

Calgary Real Estate Benchmark Sales Prices:

*Note: If you have been following my reports you may have noticed some changes in the Benchmark Prices compared to my last report. The Calgary Real Estate Board has changed how they calculate the Benchmark Price. It is my understanding that previously they used numbers all the way back to 2005 when the Home Price Index was introduced. The new method is to only use the last 5 years so as communities change the benchmark price will more quickly reflect the change.

 

The benchmark price for all sectors increased combined increased marginally (between $2,100 to $4,700. See chart below for details

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Year to date all sectors have seen substantial increases with the highest increases being in the detached sector. See chart below for details.

Current Months of Inventory (Absorption Rate): 

The months of inventory increased in all sectors in May by between .25 and .28. We are seeing all sectors creep up weekly.  All sectors currently remain in a seller’s market position however Apartment condos are just about into a balanced market again.

 

What might the rest of 2022 bring: (again just my opinion)

Based on what I am seeing we are on our way towards a more balanced market. At this stage it has been a gradual increase however we will see what impact today’s interest rate increase has – I think it will slow things down even more.

 

Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

Stats from the Calgary Real Estate Board

Select Stats from the Calgary Real Estate Board

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Just Listed: 3640 Chippendale Drive NW

Friday, May 27th, 2022

Just listed this stunning home In Charleswood, Calgary.

  • 2936 Square Feet
  • 4 Bedrooms up all with walk-in closets with built-ins and Ensuite Bathrooms
  • 2015 home was fully renovated with a second story added
  • One of the nicest streets in Charleswood – faces park

MLS # A1222468

List Price: $1,350,000

More Details and Photos: https://www.tswrealestategroup.com/for-sale/3640-chippendale-drive-nw–74805484

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Just Listed – Adult Living

Thursday, May 5th, 2022

Just listed this awesome 908 square foot unit in the sought after Sierra’s of Tuscany.

MLS A1214181

To view all details: https://www.tswrealestategroup.com/for-sale/101-223-tuscany-springs-boulevard-nw–69338648

Listed at only $325,000

 

 

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Calgary Real Estate Market Snapshot – May 1, 2022

Monday, May 2nd, 2022

What is really happening in the Calgary Real Estate Market?   Yes, there is change on the horizon!

Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.

Months of Inventory

Months of Inventory

Gord’s commentary for the month (just my opinion).

March 2022 Highlights

  • The direction of months of Inventory has changed and it is now increasing in all sectors – marginally!
  • All Sectors of the Calgary Real Estate Market continue to be in a deep seller’s Market position
  • Sales continue to be strong but are cooling from the highs we have had in recent months.
  • Prices are still going up
  • We are still running low on Inventory
  • We are still seeing multiple offers, but the offers are now much more reasonable.

 

Calgary Listing Inventory

Listing inventory increased in all sectors combined by a total of 486 listings or 11.14%. The highest increase was in Detached homes at 12.2% and the lowest was in the Semi – Detached sector of 1.87%

 

Calgary Sales:

This is where the largest change has happened. Total Sales for the month dropped from last month by a total of 706 sales or 17.19%.  The decrease was fairly consistent across all sectors.

 

Sales Compared to 2021: 

Calgary home sales for April were just slightly higher than in April 2021 – by 197 Sales or 1.06%

 

  Jan Feb Mar Apr May June July
2021 1207 1831 2903 3204      
2022 2009 3305 4107 3401      
Change + 802 1474 +1204 +197      
% Change + 66.4% +180.5% +141.5% +1.06      

  

  Aug Sept Oct Nov Dec
2020 1574 1702 1763 1438 1199
2021 2151 2162 2186 2110 1737
Change +577 +456 + 423 +672 +538
% Change 136.6% 126.7% 123.9% 146.7% 144.9%

 

 

Calgary Real Estate Benchmark Sales Prices:

The benchmark price for all sectors increased combined increased by 1.56% or $8,100. The increase was consistent across all sectors.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Year to date all sectors combined have increased by $62,800 or 13.54%. The highest increase (14.91%) was in the Detached home sector while the lowest increase was in the Apartment Condo sector (8.35%).

 

Current Months of Inventory (Absorption Rate): 

The months of inventory increased in all sectors in April by an average of .36

All sectors were equal with the lowest increase (.18) being in the Semi-Detached sector.

 

What might 2022 bring: (again just my opinion)

Based on what I am seeing we are on our way towards a more balanced market although if the increase in months of inventory rises at the same rate that it has been it will take us between 2 to 3 months to hit balanced. Apartment condos may reach balanced within 1-2 months. With all sectors still in a Sellers Market position we will continue to see price increases – just not to the level it has been the last 3 months.

 

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Calgary Real Estate Market Snapshot – April 1, 2022

Friday, April 1st, 2022

Another month of record sales and sharp price increases!

Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.

Months of Inventory

Graph shows the months of Inventory, for each sector in the Calgary Real Estate market for the last year so we can all see the trends.

 

Gord’s commentary for the month (just my opinion).

2022 Highlights

  • All Sectors of the Calgary Real Estate Market continue to be in a deep seller’s Market position
  • We continue to set monthly sales records.
  • Prices are going up, quickly
  • We are still running extremely low on Inventory
  • Although new listings were 24% higher than last year total inventory only increased by 759 or 21%.
  • All homes no matter what style are either going into multiple offers or are selling in a week.

Calgary Listing Inventory

Listing inventory increased in all sectors combined by a total of 764. Apartment condominiums saw the lowest inventory increase at 9.1% while all other sectors were between 18.5% to 29.8%.

 Calgary Sales:

Overall sales were 24.3% higher than in February. For the second month in a row, sales activity not only reached a monthly high but also hit new record highs for any given month. Gains occurred across every property sector, and they all hit new record highs.

Sales Compared to 2021:  This puts things into Perspective

Calgary home sales for March were 41.5% higher than total sales in March of 2021.

 

  Jan Feb Mar Apr May June July
2021 1207 1831 2903
2022 2009 3305 4107
Change + 802 1474 +1204
% Change + 66.4% +180.5% +141.5%

   

  Aug Sept Oct Nov Dec Year to Date
2020 1574 1702 1763 1438 1199 16,149
2021 2151 2162 2186 2110 1737 27,686
Change +577 +456 + 423 +672 +538 11,537
% Change 136.6% 126.7% 123.9% 146.7% 144.9% 171.4%

  

Calgary Real Estate Benchmark Sales Prices:

The benchmark price for all sectors increased in February.

Detached home sector increased by $24,100 or 4.04%

Semi-detached increased by $17,000 or 3.68%

Attached Row increased by $14,300 or 4.45%

Apartment Condos increased by $8,400 or 3.26%%

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Year to date all sectors combined have increased by $54,700 or 11.79%

 

Current Months of Inventory (Absorption Rate): 

The months of inventory in the detached sector increased marginally by .07 while the Semi-Detached sector increased by .04

The months of inventory decreased in the Attached -Row sector by .38 and in the Apartment sector by .03

The overall months of inventory decreased by .03 so this leaves the entire market in a Seller’s Market position.

 

What might 2022 bring: (again just my opinion) – The same as last month.

We are now very deep into a seller’s market. As inventory increases (which typically happens in Mar to may) I believe the market will soften but, in the meantime, I believe we will see more substantial price increases. Many people are asking me why this is all happening, and I have some thoughts:

  • Since 2015 sales have been low compared to the 10-year average so there is pent up demand
  • Alberta’s economy is showing signs of improvement
  • There are a substantial number of people moving here from Vancouver and Ontario

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community, or more specific numbers for your home please  contact us.

Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

Stats from the Calgary Real Estate Board

This chart contains key numbers from the Calgary Real Estate Boards Stats package for Agents. Numbers include inventory, sales, months of inventory and prices for all sectors of the Calgary Real Estate market.

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Stunning Acreage with Massive shop

Sunday, March 13th, 2022

Just listed this Stunning Hand Crafted 5055 Sq Ft log home.  Comes with a 3807 Sq Ft Shop

MLS Listing A1255606

Check out our video: https://youtu.be/BYTJ8WxsMTA

Full Details here:

Web Link:  https://www.tswrealestategroup.com/for-sale/52005-township-road-283-a–77911244

 

Stunning Hand Crafted Log Home

Beautiful new kitchen

3807 Square Ft Shop

Stunning large, handcrafted log home, triple garage for your vehicles and a 50 X 80 luxury shop for all your trucks, toys, and other needs. Situated on a private twenty-nine acres this property is partially treed and provides spectacular mountain views. Property is located just 28 minutes northwest of Cochrane. This amazing home boasts 5055 square feet of luscious space while the shop provides an addition 3807 square feet. This beautiful home is majestically placed on the hillcrest overlooking the valley with gorgeous mountain views from all angles. As you step into your home the large foyer will wow you with a view of the staircase with a wide-open ceiling. Stepping further in, the kitchen is fully renovated with custom built cabinets, hardwood and features a Jenn Air gas stove, stainless steel appliances and granite counter tops. With easy access to your dining room, it offers space for a large table for fabulous family gatherings all while gazing out windows on three sides to take in the breathtaking Alberta views. With large windows in both the living room and family room they are the perfect places to cozy up with a book and enjoy the rock surround fireplaces. The main floor also offers an office space/bedroom as well as a bath. Saunter up those stunning stairs to the second level that features maple hardwood, vaulted ceiling and six skylights providing tons of natural light. The primary bedroom is its own oasis with vaulted ceilings, a fireplace, walk in closet, six-piece ensuite with an updated custom-built vanity. This level also offers two additional bedrooms for your growing family, a sitting area for lounging and playing, a library, a spacious laundry room and a three-piece bath featuring a clawfoot tub. Above this level is a loft making a perfect space for an exercise room or office. Downstairs offers a unique setup with a partially finished walkout basement complete with an antique wood cooking stove, an airtight wood burning stove and a bath. This home offers several recent updates with a newer furnace, a new metal roof and an automatic backup natural gas generator to run the house and shop. Another recent addition is the high-end heated shop with four high doors, an extended concrete apron, with ample room for trucks, toys and all the accessories. This magnificent piece of land is partially treed and would be great for your horses. There is a fenced area and luscious green spaces for gardening and taking in all mother nature has to offer. Large Dog run. Once you turn the key to this regal home, you know you are stepping into your dream come true. Must be seen to be appreciated.

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Calgary Real Estate Market Snapshot March 1, 2022

Tuesday, March 1st, 2022

What is really happening in the Calgary Real Estate Market?

Another month of record sales and sharp price increases!

Real Estate Prices Rising

Real Estate Prices Rising

 

Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.

Months of Inventory

This graph shows the one year trend of months of Inventory in all sectors of the Calgary Real Estate Market

 

Gord’s commentary for the month (just my opinion).

2022 Highlights

  • All Sectors of the Calgary Real Estate Market are in a deep seller’s market position
  • Prices are going up, quickly
  • We are running extremely low on Inventory
  • Although new listings were 63% higher than last year total inventory only increased by 973.
  • All homes no matter what style are either going into multiple offers or are selling in a week.

 

Calgary Listing Inventory

Listing inventory Increased in all sectors by a total of 980 more listings at the end of February compared to the end of January.

 

Calgary Sales:

February sales are the highest on record for a February. Sales increased in all sectors anywhere from 49.25% to 65.94% increase over January sales.

 

Sales Compared to 2021:  This puts things into Perspective

Calgary home sales for February were 1474 higher than last February, an increase of 180.5%

 

  Jan Feb Mar Apr May June July
2021 1207 1831          
2022 2009 3305          
Change + 802 1474          
% Change + 66.4% +180.5%          

 

 

 Last years numbers 

  Aug Sept Oct Nov Dec Year to Date
2020 1574 1702 1763 1438 1199 16,149
2021 2151 2162 2186 2110 1737 27,686
Change +577 +456 + 423 +672 +538 11,537
% Change 136.6% 126.7% 123.9% 146.7% 144.9% 171.4%

 

 

Calgary Real Estate Benchmark Sales Prices:

The benchmark price for all sectors increased in February.

Detached home sector increased by $36,600 or 6.54%

Semi-detached increased by $21,500 or 4.89%

Attached Row increased by $15,500 or7.0%

Apartment Condos decreased by $5,900 or 7.65%

It is a long time since I have seen price changes so high in a month.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Same Stats below

 Current Months of Inventory (Absorption Rate): 

The Months of inventory decreased in all sectors except Detached homes this month which increased by only .11. As you can see in my chart above our months of inventory keeps decreasing in all sectors putting us into a deep seller’s market position.

 What might 2022 bring: (again just my opinion)

We are now very deep into a seller’s market. As inventory increases (which typically happens in Mar to may) I believe the market will softer but, in the meantime, I believe we will see more substantial price increases. Many people are asking me why this is all happening, and I have some thoughts:

  • Since 2015 sales have been low compared to the 10 year average so there is pent up demand
  • Alberta’s economy is showing signs of improvement
  • There are a huge number of people moving here from Vancouver and Ontario
  • There are now investors from Vancouver and Toronto buying up anything they can get their hands on.

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community, or more specific numbers for your home please contact us.

Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

Calgary Housing Stats

These stats are taken from the Calgary Real Estate Boards Stats Package for March 1, 2022. You will see only the critical numbers of Inventory, Sales, Prices and months of Inventory.

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Feb 1, 2022 Calgary Real Estate Market Snapshot

Tuesday, February 1st, 2022

What is really happening in the Calgary Real Estate Market? 

Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.  Yes, we are moving into a deep Seller’s market.

Months of Inventory

Months of Inventory

The graph above  shows the one year trend of Months of Inventory for all housing categories in the Calgary Real Estate Market

 

Gord’s commentary for the month (just my opinion).

2022 Highlights

  • All Sectors of the Calgary Real Estate Market are in a Seller’s Market position
  • Prices are going up, quickly
  • We are running extremely low on Inventory
  • Almost all Detached homes listed are going into multiple offers, I have seen many listings sell for between $50,000 to $100,000 over list price, and the odd one even above that.

Calgary Listing Inventory

Listing inventory stayed the same as at the end of December. We listed 2,250 homes in January and basically sold them all.

 Calgary Sales:

Sales in all sectors increased over December sales. Sales are normally at their lowest level in December and typically increase until June. What has changed is the level of sales, we took an extremely busy December and increased sales by 15.66%

 Sales Compared to 2020:  This puts things into Perspective

Calgary home sales were for January were 2009 while January of 2021 Sales were only 1207. We are therefore 66.4% higher than January 2021.

  Jan Feb Mar Apr May June July
2021 1207
2022 2009
Change + 802
% Change + 66.4%

   

  Aug Sept Oct Nov Dec Year to Date
2020 1574 1702 1763 1438 1199 16,149
2021 2151 2162 2186 2110 1737 27,686
Change +577 +456 + 423 +672 +538 11,537
% Change 136.6% 126.7% 123.9% 146.7% 144.9% 171.4%

  

Calgary Real Estate Benchmark Sales Prices:

Yes, Prices are going up. The benchmark price for all Sectors except Apartment Condos increased.

The highest increase is the sector with the lowest months of inventory being the Detached home sector. The benchmark price of detached homes increased by $12,500 or 2.28% this month.

Semi-detached increased by $7500.

Attached Row increased by $5,500

Apartment Condos decreased by $400

*It is important to note that Apartment Condos only went into a seller’s market in the last week so I anticipate when I report at the end of February prices will have started to increase.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Same as above for this month

 

Current Months of Inventory (Absorption Rate): 

The Months of inventory decreased in all sectors this month. As you can see in my chart above our months of inventory keeps decreasing in all sectors putting us into a deep seller’s market position.

 

What might 2022 bring: (again just my opinion)

My prediction last month has come true, only it is happening much quicker than I imagined.  The sales increases with inventory decreases have really pushed up prices of Detached homes, this increase is pushing people into buying Semi- Detached homes and on down the line so that even apartment condominiums are now in a seller’s market position.

 

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community, or more specific numbers for your home please contact us.

Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

Stats from the Calgary Real Estate Board

Stats from the Calgary Real Estate Board

 

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Just Listed

Thursday, January 13th, 2022

Just listed this beautiful starter home in Midtown Airdrie

497 Midtown Parkway

Front

 

 

 

 

 

 

Kitchen

 

 

 

 

 

 

MLS # A1171645

List Price: $449,900

See full listing with photos at https://www.tswrealestategroup.com/for-sale/497-midtown-parkway-sw–66904179

Beautiful 1546 square foot 2 Storey in Midtown with double detached garage. Located kitty-corner to the pond providing great views. This home was built by Trico and features a customized “Fairview” floor plan with extensive builder upgrades. Situated on a larger than normal corner lot provides for extra windows providing an abundance of natural light. Main floor features 9-foot ceilings and real hardwood. Upon entry the living room is spacious and bright. The kitchen features upgraded granite, a large island, an extra closet for storage, extra drawers, a large pantry, and a wine fridge. Complete the main floor with a spacious dining room and a guest bathroom. Upstairs you will find the primary bedroom that boasts four windows for plenty of natural light, an ensuite with double sinks and a walk-in closet with built in shelving. Complete the upstairs with two additional bedrooms with walk in closets, main bath, and laundry. The builder built the lower level that offers 9-foot ceilings and the typical staircase wall was partially removed giving a unique view to the rec room as you descend the stairs resulting in an open feeling rec room. The yard is perfect for entertaining and provides a large patio with gas fireplace, gas for your BBQ and extensive landscaping. Additionally, you will find you heated and insulated double detached garage and a storage shed with a door to alley making it perfect for toy storage. On those hot summer day enjoy your central air.

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Jan 1, 2022 Calgary Real Estate Market Snapshot

Tuesday, January 4th, 2022

January 2022 Market Snapshot

One-year trend of Months of Inventory

The one-year trend of Months of Inventory

What is really happening in the Calgary Real Estate Market?

Gord’s commentary for the month (just my opinion).

Some 2022 Highlights

*Calgary Continues to break sales records

* We are entering 2022 with some of the tightest conditions seen in over a decade (CREB)

*  We are starting 2022 off very much like 2006 which saw a booming market with prices increasing.

 

 

Calgary Listing Inventory

Listing inventory declined in all sectors during December which is normal for the season. What is not normal is how low our inventory is – Specifically in the Detached home sector. Our detached home inventory is at 898 listings compared to 1566 at the end of December last year. All other sectors are within one hundred listings of where we were last year.

 

 Calgary Sales:

Sales in all categories declined in December. This is a normal trend where things wind down over the holiday season. In my opinion, our sales declined mostly due to a lack of inventory in the detached home market – If we had more listing there would have been more sales.

 

Sales Compared to 2020:

Calgary home sales were 72% higher than last year, (Keep in mind 2020 had a couple of slow months due to Covid.

The real story is that Calgary was 44% higher in sales than the 10-year average.

 

  Jan Feb Mar Apr May June July
2020 861 1190 1175 573 1080 1763 1835
2021 1208 1836 2903 3209 2989 2915 2319
Change +347 +646 +1729 +2639 1,911 1,152 +484
% Change +7.49 +54.4 247% +562% 277.3% 165.3% 126.4%

 

  Aug Sept Oct Nov Dec Year to Date
2020 1574 1702 1763 1438 1199 16,149
2021 2151 2162 2186 2110 1737 27,686
Change +577 +456 + 423 +672 +538 11,537
% Change 136.6% 126.7% 123.9% 146.7% 144.9% 171.4%

 

  

Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price increased for the Detached, Semi-Detached and Attached Row Sectors while the Apartment Condo sectors saw a small decline of $100 this month. (See chart below).

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Year to date every sector has seen an increase in the Benchmark price. Overall, we are at a 9.85% higher than at the end of 2020. Here are the Dec End Benchmark prices along with the increase and the % Increase for 2021.

2022 Price Increases

2022 Price Increases

 

Current Months of Inventory (Absorption Rate): 

The Months of inventory decreased in all sectors this month. As of today, here is where we sit:

Sellers Market: Detached, Semi-Detached, and Attached- Rowhomes

Balanced Market:  Apartment Condos

Overall, we are in a Seller’s Market.

 

What might 2022 bring: (again just my opinion)

We are very unbalanced in the detached home sector that I believe sales in this sector will decline slightly from last year only due to a lack of listings on the market. Detached homes will continue to be in Multiple offers and the prices will continue to increase. As the prices increase in the detached sector it will push some buyers into the Semi-detached and Attached Row sectors. If this continues for the better part of the year it may also push buyers into the Apartment Condo Sector.

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community, or more specific numbers for your home please contact us.

 

Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

Stats from the Calgary Real Estate Board

Stats from the Calgary Real Estate Board

 

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