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March 1, 2019 Calgary Real Estate Market Snapshot

Friday, March 1st, 2019

What is really happening in the Calgary Real Estate Market?

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.

Months of Inventory/Absorption Rate – 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 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

Current Report:  March 1, 2019

This graph shows the 2 year Trend of the number of months of inventory for a housing sectors.

Graph shows the 2 year trend of months of Inventory of all sectors of homes in the Calgary Market.

Current Months of Inventory: 

In February our months of inventory decreased in every housing sector in Calgary.  Although we are certainly in a Buyer’s market this month all sectors moved toward a more balanced market which in my opinion is a great sign.

End of Jan 2019 Feb 2019 Change
Detached 5.83 5.04 -0.79
Semi Detached 7.64 6.63 -1.01
Attached – Row 7.64 6.98 -0.65
Apartment 9.31 8.73 -0.58
Total City 6.81 6.03 -0.78

 

 Calgary Listing Inventory

In February our months of inventory increased in all categories.  This increase is totally expected as we move further away from the holiday season.

Inventory (End of) Jan 2019 Feb 2019 Change
 Detached 2834 2987 153
Semi Detached 649 689 40
Attached – Row 817 908 91
Apartment 1173 1301 128
Total Calgary 5473 5885 412

 

 Calgary Sales:

Sales for February increased in all sectors compared to January.   Although the increase was not substantial it is good to see a change of direction.

Calgary Sales  Jan 2019 Feb 2019 Change % Change
Detached 486 593 107 22.02%
Semi Detached 85 104 19 22.35%
Attached – Row 107 130 23 21.50%
Apartment 126 149 23 18.25%
Total City 804 976 172 21.39%

 

***Sales Compared to last year***

In Feb our sales were 89.6% of last years sales so a decrease of 10.4%.  This trend in my opinion is expected to continue until our economy and consumer confidence change direction.  I am also starting to see and hear from clients who are getting ready to take advantage of the low prices which may kickstart things a little.

  Jan Feb Mar Apr May June July Aug Sept Oct Nov  Dec
2018 102% 82% 72% 80% 82% 89% 95% 93% 85.9% 89.9% 83.0 78.6
2019 83.8% 89.6%

 

Calgary Real Estate Sales Prices:

February saw a very small decrease in prices in detached and Semi-Detached homes.   Attached (Row) houses and Apartment condos showed a slight gain.  Based on our absorption rate (months of inventory) we can expect prices to continue to trend downward.

  Sales Prices Jan 2018     Benchmark Price  Feb 2019   Benchmark Price Change
Detached 476,500 475,600 -900
Semi Detached 393,100 392,500 -600
Attached – Row 284,300 284,600 300
Apartment 251,300 252,300 1,000
Total City 414,800 414,400 -400

 

 Sales Prices “Year to Date”  

Sales Prices Jan 2019    Benchmark Price  Feb 1, 2019    Benchmark Price Change

$

% Change
Detached 481,400 475,600 -5,800 -1.20%
Semi Detached 397,500 392,500 -5,000 -1.26%
Attached – Row 288,400 284,600 -3,800 -1.32%
Apartment 251,500 252,300 800 0.32%
Total City 418,500 414,400 -4,100 -0.98%

 **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 take into account 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.

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September Market Snapshot

Wednesday, September 2nd, 2015

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening! 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.
Find out what your Neighbor’s home sold for – Our market report is set up based on your community! Register for our Market Report at http://www.calgaryareasolds.com/

August saw a small increase to our inventory levels and a decrease in sales numbers in all categories. Prices remained flat however our Absorption rate increased. This is somewhat typical of August with summer holidays and people away.

Inventory  July  2015 Aug   2015 Change
Detached 2728 2801 +73
Attached 1104 1130 +26
Apartment 1223 1215 -8
Total City of Calgary 5055 5146 +91

Calgary Sales:
Sales for all categories decreased this month. While the percentages look high the important thing to know is that sales in August have almost always been lower than July sales. Last year sales were down for the same period 18.1%

Sales July  2015 Aug   2015 Change % Change
Detached 1222 1000 -222 -18.2%
Attached 449 364 -85 -18.9
Apartment 324 279 -45 -13.8
Total City of Calgary 1995 1643 -352 -17.6

Calgary Real Estate Sales Prices:
Prices in all categories changed very little this month. Based on the absorption rate below my prediction is that detached homes could see small price increases, Attached homes should remain fairly flat while apartment condos should see very small price decreases.

  Sales Prices July 2015

Benchmark Price 

Aug   2015

Benchmark Price

 Change
Detached 515,300 516,000 +700
Attached 355,300 356,700 +1400
00Apartment 293,300 294,100 +800
Total City of Calgary 455,400 456,300 +900

Sales Prices “Year to Date”
Year to date prices – All categories have decreased except attached homes have gone up by $700.00

Sales Prices Dec 31, 2014   Benchmark Price  Aug   2015 Benchmark Price Change

$

% Change
Detached 518,600 516,000 -2,600 -.50%
Attached 356,200 356,700 +700 +.19%
Apartment 300,400 294,100 -6,300 -2.1%
Total City of Calgary 459,500 456,300 -3,200 .69%

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:
In August the absorption rate increased for all categories. Inventory stayed almost the same while sales decreased meaning the number of months of supply increased. This leaves detached homes just in a seller’s market, attached homes in a balanced market while apartment condos have moved into a buyer’s market position.

Absorption Rate   July   2015 Aug  2015 Change
Detached 2.23 2.80 +.57
Attached 2.46 3.1 +.64
Apartment 3.77 4.35 +.58
Total City of Calgary 2.53 3.13 +60

**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
TSW Real Estate Group

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May’s Calgary Real Estate Market Snapshot

Monday, June 3rd, 2013

Want to know 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.   In summary the Calgary housing market is still very strong.  Sales are strong and our inventory is on the low side making it a Seller’s market.

Here is the details along with a few comments, all numbers are taken from the Calgary Real Estate Boards Stats package for Realtors.

Calgary Listing Inventory:  Inventory levels for all categories except townhouses increased throughout May. The Townhouse inventory dropped only marginally.  Seeing our inventory increase is very normal at this time of year as many people wait until spring to list their homes.   This trend of increasing inventory should continue for the next few months.

Inventory 

April   2013   

May  2013   

Change
Single Family Home

2977

3311

+334
Condo    Townhouse

518

503

-15
Condo    Apartment

871

929

+58
Total

4366

4743

+377

Calgary Sales: 

Sales increased in all categories except apartment Condo’s this month.   Apartment condo sales dropped but by very little.  What is important here is that our sales increased at a lower rate than our inventory moving us towards a balanced market (although we have a long way to go).   We are still challenged to find good Single Family homes for buyers as there is little choice so many buyers are  moving into the townhouse market, the condominium market and surrounding towns.  

Sales

April  2013  

May  2013  

Change

% Change

Single   Family Home

1611

1766

+155

+9.6%
Condo  Townhouse

341

365

+24

+7.0%
Condo   Apartment

429

413

-16

-3.8%
Total

2381

2544

 +163

+6.8%

 Calgary Real Estate Sales Prices:  Please note that we are now using the Benchmark price for this comparison.

In May, the benchmark price increased slightly for all categories. This is simply a reflection demand outpacing supply and should continue until the inventory starts to increase faster than sales.   

Sales Prices

April  2013

Benchmark Price

May 2013

 Benchmark Price  

Change

Single   Family Homes

452,900

456,900

+$4,000
Condo   Townhouse

288,900

292,100

+$3,200
Condo  Apartment

261,300

263,600

+$2,300

  Sales Prices  “Year to Date”   

Year to date prices have increased in all categories.

Sales Prices Dec  31 2012    Benchmark Price 

May  2013

Benchmark Price 

Change

% Change

Single   Family Homes

434,800

456,900

+$22,100

+5.1%
Condo   Townhouse

284,100

292,100

+$8,000

+2.8%
Condo  Apartment

248,700

263,600

+$14,900

+5.99%

 

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

Balanced Market

Between 2.8 to 4.0

Seller’s Market

<2.8

Absorption Rate:  Throughout May there was little change in the absorption rate except for the apartment condo market which softened a little.

Absorption Rate  

April  2013  

May  2013  

Change

Single   Family Homes

1.85

1.87

+.02
Condo   Townhouse

1.52

1.37

-.15
Condo  Apartment

2.03

2.25

+.22
Total   Calgary

1.83

1.86

+.03

**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 please contact us.

If you have any questions about this summary 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

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Calgary’s February Real Estate Market Snapshot

Monday, March 4th, 2013

Here is a summary of some key areas with a few short comments.  In summary the Calgary housing market is starting off 2013 with very strong sales and our inventory is on the low side making it a Seller’s market.    All numbers are taken from the Calgary Real Estate Boards stats package for Realtors.

Calgary Listing Inventory:  Inventory levels for all categories increased throughout February.   Seeing our inventory increase is very normal at this time of year as many people wait until spring to list their homes.   This trend of increasing inventory should continue for the next few months.        

Inventory 

January 2013  

February  2013   

Change

Single Family Home

2075

2408

+333

Condo    Townhouse  

369

427

+58

Condo    Apartment 

640

704

+64

Total

3084

3539

+455

 Calgary Sales: 

Sales increased in all categories this month.  Although the increase seems extremely high it is comparable to what happened last year. The trend seems that buyers are coming to the market a little earlier every year.  It also seems to me that as good single family homes in the lower price ranges are harder to find we are seeing more buyers moving into the condominium market.            

Sales

Jan  2013

Feb 2013  

Change

% Change

Single   Family Home

879

1209

+330

38%

Condo  Townhouse    

147

223

+76

52%

Condo   Apartment

204

279

+75

37%

Total

1230

1711

+481

39%

Calgary Real Estate Sales Prices:  Please note that we are now using the Benchmark price for this comparison.

In February the benchmark price increased slightly for single family homes and apartment condos and decreased slightly for townhouses.    

 

Sales Prices

Jan 2013

Benchmark Price

Feb 28, 2013

 Benchmark Price  

Change

Single   Family Homes

436,900

442,500

+1%

Condo   Townhouse  

283,400

283,000

–

Condo  Apartment    

251,300

252,900

+1%

  

Sales Prices  “Year to Date”   Same as above for  this month

Once again we saw increases in Single Family homes and Apartment Condos and a slight decrease in Townhouses. 

Sales Prices

Dec  31 2012    Benchmark Price 

Feb 2013

Benchmark Price 

Change

% Change

Single   Family Homes

434,800

442500

+7,700

+2%

Condo   Townhouse  

284,100

283,000

(1,100)

–

Condo  Apartment    

248,700

252,900

+4,200

+2%

 

Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Below 3.0 indicates a Seller’s Market

Between 3.0 to 4.0 indicates a Balanced Market

Above 4.0 indicates a Buyer’s Market.

Absorption Rate  

Jan 2013

Feb 2013  

Change

Single   Family Homes

2.36

1.99

-.37

Condo   Townhouse  

2.51

1.91

-.60

Condo  Apartment    

3.14

2.52

-.72

Total   Calgary

2.51

2.07

-.44

 As you can see above we are in a Seller’s market for all categories and it is getting stronger in favour of sellers. 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 it on. 

Gord, Eric & Brent

Posted in Blog, calgary realtor, Real Estate Board's Statistics | Comments Closed

January 2012 Calgary Housing Statistics

Wednesday, February 1st, 2012

What’s happening in the Calgary Real Estate Market? 

Ever heard that Real Estate is prices are a reflection of Supply and Demand?

Below is a summary made simple – what is happening in Real Estate in Calgary.

Information is taken from the Calgary Real Estate Boards monthly statistics package.

Calgary Listing Inventory:  Inventory levels for both Single Family homes and Condo’s increased this month.   This movement is normal for this time of year and we will most likely see this trend continue for the next several month.  

Inventory   December  2011 Jan 2012  Change
Single Family Home 2761 2980 +219
Condo’s 1287 1450 +163
Total 4048 4430 +382

Calgary Sales: 

Calgary Single Family home sales are up over December while Condo sales stayed flat.   Both Single Family home and Condo sales are almost the same as they were in January 2011.         

Sales December 2011 January 2012 Change
Single Family Home 722 773 +51
Condo’s 310 305 -5
Total 1032 1078 +46

 Calgary Real Estate Sales Prices:  In January Single family home median prices remained almost flat while Condo prices decreased by $12,875.  The median prices are not showing any certain direction but are bouncing up and down every month. 

Sales Prices December  Median Prices Jan 2012  Median Prices Change
Single Family Homes $393,750 395,000 +1250
Condo’s $257,875 245,000 -12,875

 Important note – As of Feb 2012 the Calgary Real Estate Board is changing the way it reports statistics.  The Canadian Real Estate Association in partnership with local Real Estate Boards has developed the MLS HPI (Home Price Index).  The Home Price Index identifies  turning points sooner, is the most current and is the most detailed and accurate gauge for Canadian home prices. 

With this change we will need to re-evaluate what information I can post for  monthly.  My goal is simply to make sure you are getting current up to date information that tells the real story about the Calgary Housing Market.

If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us anytime.  

Gord, Eric & Brent

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Calgary Real Estate Market Watch

Wednesday, July 20th, 2011

Are you tired of getting general or old information about the Calgary Real Estate Market?

Want to keep up to date with today’s market?

We are pleased  to offer you a new free market report delivered to your email  bi-weekly, monthly or bi-monthly – your choice.   The great thing about this report is you are in control – the information sent is based on what you ask for. 

The report is based on the postal code you enter and provides you with graphs, data on listings, sold listings and days on market.  You can even drill down and look at specific sold listings.

To view a sample report: Click here to see the report

If you like what you see and would like to set up your own Market Report go to www.calgaryareasolds.com

We will send you no other unsolicited info – just what you ask for.  You can also unsuscribe anytime!

Courtesy of Gord Piper and Associates with CIR Realty.

For more information contact us.

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Are you planning to move to Calgary

Tuesday, October 26th, 2010

Relocating to a new area is an exciting and significant move. Different from your typical real estate transaction, there are many additional factors to consider. As an experienced Calgary real estate professional, I have addressed these factors for many families moving to the Calgary area and I am ready to make your move a comfortable one too.

Calgary RealtorI would be honoured to provide my expertise and knowledge to you when it comes to the Calgary real estate market and relocation process in general. My goal is to help you be as prepared as possible prior to moving here.

To start the home buying process, please fill out the form on my website. Once received, I will be in contact with you shortly. In the meantime, you may want to consider signing up for a personal account via my website at gordpiper.com. By signing up, you can access up-to-date information on all active listings in the Calgary area.

You will soon be on your way to finding your dream home in the Calgary area!

Contact Gord Piper today.

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