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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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Reasons for a move to Calgary, Alberta

Friday, December 31st, 2021

Peace Bridge - Downtown

 

 Calgary general info

  • The current metro area of Calgary population of Calgary in 2021 is 1,581,000 a 2.2% increase from 2020
  • In 1988 Calgary Hosted the Olympics
  • Home of the world-famous Calgary Stampede
  • Calgary is a very cultural diverse City,  approximately one in 3 people living in Calgary were born outside of Canada

 

Top Reasons why people choose to move to Calgary

1. Calgary is only a one-hour drive to the Rocky Mountains

Banff National Park

The Rocky Mountains provide days of adventure including Skiing, Snowshoeing, mountain climbing, hiking, golfing, or simply a nice stroll down Banff Avenue.

2. Pathways and Trails

Calgary communities, parks, and natural areas are connected by an extensive network of multi-use pathways.  The City maintains the most extensive urban pathway and bike network in North America with approximately 1000 km of regional pathways and 96 Km of trails.

3. Global Livability Ranking 

The Global Livability Ranking is a yearly assessment published by the Economist Intelligence Unit,  ranking 140 global cities for their urban quality of life based on assessments of stability,  healthcare, culture and environment, education, and infrastructure.  In 2019 Calgary ranked 5th with a livability score of 97.5

4. Canada’s Sunniest city

Calgary is the sunniest of Canada’s large cities, enjoying an average of 2396 hours of bright sun each year, spread over 333 days. That amounts to just over half of Calgary’s daylight hours.

5.  Key points from Calgary Economic & Development 

  • Calgary has more than 100 corporate head offices, the most per capita of any Canadian city, and is home to more than 700 startups, many in tech.
  • At 8% Alberta has the lowest income tax rate in Canada

6.  Among the Lowest Taxes in Canada

Alberta has some of the lowest taxes in North America — with no provincial sales tax, no payroll tax, no health care premiums, and some of the lowest corporate income taxes in Canada.

7. Affordable Housing 

While Calgary is not the least expensive city to purchase a home in, Calgary is substantially cheaper than Toronto or Vancouver.  Calgary’s Median price currently sits at $530,000 for a detached single-family home.

 

Attractions

Whether visiting or living in Calgary here are some attractions you may want to put on your list to see

  • Calgary Exhibition and Stampede:  A 10-day event that starts the first Friday of July
  • Heritage Park 
  • Olympic Plazza
  • Saddledome with the Calgary Flames (NHL) 
  • 17th Avenue Retail & Entertainment district 
  • Eau Claire Market 
  • Princes Island Park 
  • Calgary Zoo 
  • Telus Convention Centre 
  • Calgary Tower  (once Calgary’s tallest structure) 
  • Telus Spark 
  • Calgary’s new Central Library 
  • Canada Olympic Park 

 

If you are considering making a move to Calgary TSW Real Estate Group can be a resource you can count on.  Being a native Calgarian I have a vast knowledge of Calgary Communities and the housing market.   There are many other valuable things we can provide to help you make a decision if Calgary is right for you.  Contact us here

 

 

 

 

 

 

 

 

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Dec 1, 2021 Calgary Real Estate Market Snapshot

Thursday, December 2nd, 2021

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two. We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector. Looking at a 2-year trendline gives you an indication of where things are really heading.

Months of Inventory

Months of Inventory for the Calgary Real Estate Board

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

Typically, we see a steady decline in sales from October through December, and then once we hit mid-January sales start to increase again and peak around June. This year is far from typical.  Sales are booming and our Inventory is decreasing pushing us into an even stronger Seller’s Market. It has to the point (in the detached home sector) where if a new listing is priced at market value there will be competing offers and it will sell in the same day, typically above list price.  It is common to see 6-10 offers on homes.

Calgary Listing Inventory

Listing inventory in all sectors declined again this month. Detached homes showed the largest decline of 537 listings with a total decline in inventory of 948 listings in all sectors. This works out to a decrease in inventory of 19.47%. Seeing a decline in inventory is quite typical of this time of year but the decline this year is higher. Last year our decline was 733 in November.

Calgary Sales:

Sales in all sectors (except Attached Row Homes) were down slightly from last month by a total of seventy-six sales less.  Attached Row homes sales increased by fifty sales.  To put this in perspective sales in November were 146.7% of sales from last November so a large increase.  What makes this interesting is that if we had more inventory our sales would be higher as there are many buyers out there who are trying but have not successfully bought a home due to the lack of supply.

Sales Compared to 2020:

As you can see below October 2021 Sales were higher than October 2020. As noted above this is due to pent up demand and a lack of supply making people search longer to find their home. The other factor here is people taking advantage of the low-interest rates.

 

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

 

  July Aug Sept Oct Nov Dec
2020 1835 1574 1702 1763 1438 1199
2021 2319 2151 2162 2186 2110  
Change +484 +577 +456 + 423 +672  
% Change 126.4% 136.6% 126.7% 123.9% 146.7%  

  

Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price increased for the Detached and Semi-Detached Sectors while the Townhouse and Apartment Condo sectors saw a small decline this month ((see chartbelow).  With the Months of Inventory where it is I anticipate further price increases in the coming months.

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 9.16% increase so far and I anticipate further gains this month.

 

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

Buyers Market: Apartment Condos

Overall, we are in a Sellers’s Market.

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 photo shows Key Numbers from the Calgary Real Estate Board including sales, inventory, and Benchmark Price for each sector of the market.

 

 

 

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November 1, 2021 Calgary Real Estate Market Snapshot.

Monday, November 1st, 2021

 

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two. We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector. Looking at a 2-year trendline gives you an indication of where things are really heading.

Stats from the Calgary Real Estate Board

Months of Inventory

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

October continued with very strong sales and a declining inventory level pushing the market into a stronger seller’s market position.

 

Calgary Listing Inventory

Listing inventory in all sectors declined again this month. This is a normal trend where we see the number of new listings decline between now and the new year.

  

Calgary Sales:

Another strong month in Calgary Real Estate.  Sales in October increased (by 24) over sales from September. Typically, we see sales decline at this time of year, so an increase is a little unusual. Sales in attached Row and Apartment did show decreases while Detached and Semi-Detached homes increased from September.

 

 Sales Compared to 2020:

As you can see below October 2021 Sales were higher than October 2020. As noted above this is due to pent-up demand and a lack of supply making people search longer to find their home. The other factor here is people taking advantage of the low-interest rates.

 

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

 

  July Aug Sept Oct Nov Dec
2020 1835 1574 1702 1763 1437 1199
2021 2319 2151 2162 2186    
Change +484 +577 +456 + 423    
% Change 126.4% 136.6% 126.7% 123.9%    

 

 

Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price changed very little this month. The total change for all sectors was an increase of $2200. Semi-Detached Homes and Apartment Condos saw a small decline while Detached homes and Attached Row homes saw a small increase.

 

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

 

Current Months of Inventory (Absorption Rate): 

The Months of inventory decreased in all sectors except Attached Rowhomes. This is due to the declining inventory and increased sales. This puts Detached homes, Semi-Detached Homes, and the overall market into a seller’s market position. Attached Row homes stayed in a balanced position while Apartment Condos stayed in a Buyers 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

Key Numbers to Understanding the Calgary Real Estate Market

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October 1, 2021 Calgary Real Estate Market Snapshot

Friday, October 1st, 2021

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector.  Looking at a 2-year trendline gives you an indication of where things are really heading.

Months of Inventory

The graph shows 2 years of Months of Inventory for every sector in the Calgary housing market.

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

September saw a decline in inventory and a marginal increase in Sales moving the months of inventory even lower.

Calgary Listing Inventory

Typically, at this time of year, we see our inventory start to climb. This year that is still not the case as our overall inventory declined by 446 listings.  Inventory declined in all housing sectors with the largest decrease in Detached homes at 9.89% decline and the lowest in the apartment condo sector at 3.81%

 Calgary Sales:

Overall sales in Sept were 11 more than in August.  Traditionally we see sales dropping in September, so this is not all that normal.  I believe that this is mainly due to pent-up demand and a lack of supply making people search longer to find their home.

 Sales Compared to 2020:

Total sales were up by 26.7% over last year.  As you can see in my chart the last 3 months have all been over last year by between 24.4% to 36.6%.  As noted above I believe that this is mainly due to pent-up demand and a lack of supply making people search longer to find their home.

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

 

  July Aug Sept Oct Nov Dec
2020 1835 1574 1702 1764 1437 1199
2021 2319 2151 2162      
Change +484 +577 +456      
% Change 126.4% 136.6% 126.7%      

 

 Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price changed very little this month. The total change for all sectors was a decline of $1,700.   I sense this is because earlier in the year we saw some large increases, mostly due to competing offers and bidding wars and people were bidding very high just to get a new home.   There is still a lot of competing offers, but I am not seeing the offers coming in as high as there are fewer offers and I believe some people are just saying they will wait for the next one.

Calgary Real Estate Benchmark Sales Price:  See chart below.

 Current Months of Inventory (Absorption Rate): 

The Months of inventory decreased in all sectors due to the declining inventory. Currently detached are still in a seller’s market position, Semi-detached and Row houses are in a balanced market position and Apartment Condos are in a buyer’s market position however getting close to balanced.

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

Chart shows inventory, sales, benchmark price and the months of inventory for all sectors of the Calgary housing market.

 

 

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September 1st Calgary Real Estate Market Snapshot

Thursday, September 2nd, 2021

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector.  Looking at a 2-year trendline gives you an indication of where things are really heading.

Graph shows 2 years of Months of Inventory for every sector in the Calgary housing market.

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

August saw a decline in inventory of 9.36%, and a decline in sales of 7.24% causing our months of inventory to decline very slightly.  Prices were mostly stable this month.

 

Calgary Listing Inventory

Typically, at this time of year, we see our inventory start to climb. This year that is not the case as our overall inventory declined by 625 listings.  The majority of the decline (339) were in the Detached home sector.  I believe the reason for this is there is still a pent-up demand and there are many people still shopping for that perfect home.

 

Calgary Sales:

Sales declined from July by a total of 168 fewer sales or 7.24%.  The majority of this is in the Detached home sector losing 113.  It is worth noting that typically sales show a decline from July to August so this is very normal.

 

Sales Compared to 2020:

Total sales were up by 36.6% over last year.  It is important to note that August sales did not break a record like in July however sales were 25% higher than long-term trends.  Normally this is a good category to watch however we are still comparing sales this year to when we were in a slower market due to Covid.  As you can also see every month the sales over last years are declining and this is a normal trend.

 

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

 

  July Aug Sept Oct Nov Dec
2020 1835 1574 1702 1764 1437 1199
2021 2319 2151        
Change +484 +577        
% Change 126.4% 136.6%        

 

 

Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price in Calgary decreased in July by $500

Declines were seen in the Detached Home sector (-$1200) and the Apartment Condo sector (-$800)

Increases were in the Semi-Detached sector (+$1600) and in the Attached Row sector (+$1000)

You may wonder why prices decreased in the detached home sector when the Months of Inventory is still at 2.13 which is very much a seller’s market.  I believe it’s because we have seen large increases in the last few months and things are slowing a little and settling down.

 

Calgary Real Estate Benchmark Sales Price:  See chart below.

 

Current Months of Inventory (Absorption Rate): 

The Months of inventory increased in the Semi-Detached sector and decreased marginally in all other sectors.  For all sectors, combined Months of Inventory decreased by .07

 

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.

Key Market Stats taken from the Calgary Real Estate Boards monthly stats package for Realtors.

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Just Listed 3103, 402 Kincora Glen Road NW

Monday, August 16th, 2021

Just listed this beautiful 18+ apartment condo in Kincora.  2 Bed + Den with 2 baths.

List Price:  $372,900

MLS # A1138935

See full Details: https://www.tswrealestategroup.com/for-sale/3103-402-kincora-glen-road-nw–65460995

Luxury living at its finest! Welcome to this executive suite in this spectacular and exclusive 18+ condo.  This stunning home is ready to embrace your opulent lifestyle with a spacious layout offering natural light throughout and copious design options for home offices and cozy living spaces.  This modern kitchen is ready for gourmet cooking with gorgeous quartz counters, under cabinet lighting, and stainless-steel appliances. In addition, this suite offers carefree living for all seasons within floor heating throughout and delightful air conditioning for those hot July days, paired beautifully with electronic Hunter Douglas blinds for easy access to natural light or privacy.  With 2 separate storage rooms, you can sit back worry-free for safekeeping of your many possessions as well as 2 titled parking stalls for your vehicles.  The main bedroom hosts an ensuite and a walk-in closet offering a plethora of storage options.  A west-facing patio provides a private area for you to snuggle up with a good book or entertain your many friends and family.  With walking distance to Sage Hill Crossing, all your local needs are met making this a perfect place to relax and call home.

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August 1, 2021 Calgary Real Estate Market Snapshot

Tuesday, August 3rd, 2021

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector.  Looking at a 2-year trendline gives you an indication of where things are really heading.

The graph shows the 2-year trend of months of inventory for all sectors of the Calgary Real Estate Market.

 

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

Another record: Sales in July were 2319, the highest July on record!

Sales declined from last month but so did the number of listings on the market. The sales decline was slightly greater than the listings decline, pushing up the months of inventory on the market.

 

Calgary Listing Inventory

While inventory typically starts rising in July, our inventory declined by 240 listings. The decrease in inventory was consistent across all sectors.  I believe there is still a pent-up demand, if listings are priced right then they are selling very quickly.  Some listings I am seeing are substantially overpriced and these are sitting on the market.

 

Calgary Sales:

Another record: Sales in July were 2319, the highest July on record!

Compared to June sales dropped by 20.3% This is very typical as once we hit July people are focused on summer vacations and such.  The decrease in sales was consistent across all sectors.

 

Sales Compared to 2020:

Normally this is a good category to watch however we are now comparing sales this year to when we were in a slower market due to Covid.  As you can see sales in July were 126.4% above last July’s sales.  As you can also see every month the sales over last years are declining.

 

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

 

  July Aug Sept Oct Nov Dec
2020 1835 1574 1702 1764 1437 1199
2021 2319          
Change +484          
% Change 126.4%          

 

 Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price in Calgary increased again in June by $1,800

All Sectors showed price gains in July. The highest gains were in Detached homes at +$2,700 and the lowest gain was $300 in the Attached-Row sector which makes total sense based on Months of Inventory.  I am a little surprised that the Apartment sector increased by $1,100 even though that sector is still showing 5.54 months of Inventory (indicating a buyer’s market).

 

Calgary Real Estate Benchmark Sales Price:  See chart below.

 

Current Months of Inventory (Absorption Rate): 

Once again, our months of inventory gained slightly in all sectors.  The highest gain is in the Apartment Condo sector at 1.1   Every other sector was in the .4 to .5 increase range.

Detached homes are still sitting in a seller’s market.

Semi-Detached, Attached-Row homes are sitting in a balanced market position.

Apartment Condos are sitting in a buyer’s market position.

 

It is also important to note that these numbers vary by community, and by price range.  This month I sold an apartment condo in the SW and the months of inventory for that community was only 1.55 compared to a 5.54 in Calgary.

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.

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Just Listed 519, 20 Discovery Ridge Close SW

Thursday, July 8th, 2021

Just listed this stunning apartment in the Wedgewoods.  View of Griffith Woods reserve area from all major rooms.

MLS: A1127878

Virtual Tour: https://youtu.be/3Ry272m6Qmg

Full Detailed Listing: https://www.tswrealestategroup.com/for-sale/519-20-discovery-ridge-close-sw–64948003

519, 20 Discovery Ridge Close

 

Beautiful Penthouse Suite facing the Griffith Woods Reserve area providing you with stunning views from all major rooms and access to many hiking trails.  This bright unit features new paint and hardwood floors throughout the living room and kitchen.  The living room features a wall of windows providing plenty of natural light and stunning views along with 9-foot ceilings and a gas fireplace with a stone front.  The Kitchen features Stainless steel appliances, maple cabinets, and a breakfast bar with an adjoining dining area.  Master Bedroom is spacious and features stunning forest views, a walk-in closet, and a 4-piece Ensuite. Complete the unit with the spacious second bedroom (again with forest views), a 3-piece bath, and a storage room with in-suite laundry. Features Titled underground parking with a full storage cage. Enjoy all the amenities including the gym and social room. Discovery Ridge Community association provides the playground, Soccer fields, basketball court, tennis courts, and skating rink.  Essential shopping is within the community and only 10 minutes to West Hills Shopping Centre.  Soon the ring road will be complete increasing accessibility to everything.  This unit is a must-see!

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July 1, 2021 Calgary Real Estate Market Snapshot

Friday, July 2nd, 2021

 

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector.  Looking at a 2-year trendline gives you an indication of where things are really heading.

Graph shows the 2 month trend of months of inventory for all sectors in the Calgary Real Estate Market.

 

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

Another solid month in the Calgary Real Estate Market showing the highest number of sales in June on record. Although sales have declined the market is still favoring Sellers or balanced except for the Apartment Condo sector.

The booming market has already brought out sellers who are fishing for huge dollars, yes there are more than a normal number of homes listed substantially above what the market will bear.  This is what is going to cause the inventory to increase and balance out the market.  Buyers be aware when shopping.

I have also noticed a decline in the intensity of buyers to compete on offers, there are still competing offers happening everywhere but the amount that buyers are going above list price is in my opinion shrinking.

 

Calgary Listing Inventory

Our listing inventory increased by 136 through June.  As of today, we are 2.01% higher than currently a month ago.

 

Calgary Sales:

Sales in June decreased by 74 or 2.48%

What is interesting here is that sales declined by 4.8% in Detached homes and 13.5% in Semi-Detached homes while sales in the Apartment sector increased by 16.6%

What is likely driving this is with the price increases some people may have moved into the Apartment Condo sector.

 

Sales Compared to 2020:

Normally this is a good category to watch however we are now comparing sales this year to when we were

in a collapsed market due to Covid and the First Shutdown.  As you can see sales in June were 65.3% higher

than in June 2020.

 

  Jan Feb Mar Apr May June
2020 861 1190 1175 573 1080 1763
2021 1208 1836 2903 3209 2989 2915
Change +347 +646 +1729 +2639 1,911 1,152
% Change +7.49 +54.4 247% +562% 277.3% 65.3%

 

  July Aug Sept Oct Nov Dec
2020 1835 80 1702 1764 1437 1199
2021            
Change            
% Change            

 

 Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price in Calgary increased again in June by $3,100.

The highest gains were in Detached homes at +$3,900 and the lowest gains we $400 in the Apartment sector which makes total sense based on Months of Inventory.

 

Current Months of Inventory (Absorption Rate): 

With a slight increase in Inventory and a slight decrease in sales, all sectors (except apartment Condos) increased our months of Inventory slightly.  Apartment condos months of Inventory went from 5.18 to 4.44 the largest decrease is quite some time as apartment condos have been struggling since 2015.

Buyers Markets include Apartment Condos.

Balanced Markers include Attached Row homes and Semi-Detached sectors.

Sellers Markets include just Detached Homes.

 

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.

This photo shows key stats that are taken from the stats package produces by the Calgary Real Estate Board.

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