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Calgary Real Estate Market Snapshot – May 1, 2019

Thursday, May 2nd, 2019

What is really happening in the Calgary Real Estate Market?

Current Months of Inventory: 

Good news for the Calgary Real Estate Market.  Three months in a row we have a trend with the months of inventory decreasing. April saw all sectors decrease with the largest decrease in Apartment Condos which decreased by 1.71 months.  Detached and Attached-Row houses.  Noteworthy is that Detached homes are nearing a balanced market again.

End of Mar 2019 Apr 2019 Change
Detached 4.15 3.97 -0.18
Semi Detached 5.32 4.63 -0.69
Attached – Row 5.44 5.29 -0.15
Apartment 7.87 6.16 -1.71
Total City 4.96 4.57 -0.40

 

Calgary Listing Inventory

In April, our inventory increased in all categories except Semi-Detached which saw a small decrease.  This increase is totally expected as we starting to enter the spring market.  If the increase is balanced with an increase in sales the market will continue to get healthier.

Inventory (End of) Mar 2019 Apr 2019 Change
 Detached 3393 3691 298
Semi Detached 787 773 -14
Attached – Row 947 1053 106
Apartment 1488 1546 58
Total Calgary 6595 7063 468

 

Calgary Sales:

Sales for April increased in all sectors compared to March.   Sales increasing is again an expected change as we move into the spring market. The good news is that sales increases are outpacing listing inventory moving the entire market closer to balanced.

Calgary Sales  Mar 2019 Apr 2019 Change % Change
Detached 818 930 112 13.69%
Semi Detached 148 167 19 12.84%
Attached – Row 174 199 25 14.37%
Apartment 189 251 62 32.80%
Total City 1329 1547 218 16.40%

 

 ***Sales Compared to last year***

In April our sales showed an increase over last April which is the first time in a few years that this has happened.  Hoping the trend continues.

  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% 97.1% 102.2%

 

Calgary Real Estate Sales Prices:

April saw a small increase in prices in all sectors except for Apartment Condo’s which decreased by only $200.

  Sales Prices Mar 2018     Benchmark Price  Apr 2019   Benchmark Price Change
Detached 475,800 478,700 2,900
Semi Detached 391,000 395,300 4,300
Attached – Row 284,900 284,900 0
Apartment 250,600 250,400 -200
Total City 413,900 415,900 2,000

 

Sales Prices “Year to Date”  

Although prices are up a little in April, we have some catch up to do as the earlier months saw losses.

Sales Prices Jan 2019    Benchmark Price  Apr 30, 2019    Benchmark Price Change

$

% Change
Detached 481,400 478,700 -2,700 -0.56%
Semi Detached 397,500 395,300 -2,200 -0.55%
Attached – Row 288,400 284,900 -3,500 -1.21%
Apartment 251,500 250,400 -1,100 -0.44%
Total City 418,500 415,900 -2,600 -0.62%

  

Explanation of our Calgary Real Estate Market Snapshot.

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

  

**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.

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Calgary Real Estate Market Snapshot – April 1, 2019

Tuesday, April 2nd, 2019

What is really happening in the Calgary Real Estate Market?

2 year trend of months of inventory for the Calgary Real estate Market.

If you are new to our Monthly Snapshot please scroll down for my explanation.

 Current Report : April 1, 2019

Current Months of Inventory: 

Good news for the Calgary Real Estate Market.  Two months in a row we have a trend of the months of inventory decreasing. March saw all sectors decrease with the largest decrease in Semi-Detached and Attached-Row houses.  Noteworthy is that Detached homes are nearing a balanced market again.

End of Jan 2019 Feb 2019 Change
Detached 5.04 4.15 -0.89
Semi Detached 6.63 5.32 -1.31
Attached – Row 6.98 5.44 -1.54
Apartment 8.73 7.87 -0.86
Total City 6.03 4.96 -1.07

Calgary Listing Inventory

In March, our inventory increased in all categories.  This increase is totally expected as we starting to enter the spring market.  As long as the increase is balanced with an increase in sales the market will continue to get healthier.

Inventory (End of) Jan 2019 Feb 2019 Change
 Detached 2987 3393 406
Semi Detached 689 787 98
Attached – Row 908 947 39
Apartment 1301 1488 187
Total Calgary 5885 6595 710

 

Calgary Sales:

Sales for March increased in all sectors compared to February.   Sales increasing is again an expected change as we move into the spring market. In my opinion the % increase is quite substantial with an overall increase over February of 36.2%.

Calgary Sales  Jan 2019 Feb 2019 Change % Change
Detached 593 818 225 37.94%
Semi Detached 104 148 44 42.31%
Attached – Row 130 174 44 33.85%
Apartment 149 189 40 26.85%
Total City 976 1329 353 36.17%

 

***Sales Compared to last year***

In March our sales were 97.1% of last years sales so a decrease of 2.9%.  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.  Of interest we are also starting to see competing offers again.

  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% 97.1%                  

 

Calgary Real Estate Sales Prices:

March saw a small decrease in prices in Semi-Detached and Apartments while Detached and Attached Row houses showed slight increases in prices.

  Sales Prices Jan 2018     Benchmark Price  Feb 2019   Benchmark Price Change
Detached 475,600 475,800 200
Semi Detached 392,500 391,000 -1,500
Attached – Row 284,600 284,900 300
Apartment 252,300 250,600 -1,700
Total City 414,400 413,900 -500

 

 Sales Prices “Year to Date”  

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

$

% Change
Detached 481,400 475,800 -5,600 -1.16%
Semi Detached 397,500 391,000 -6,500 -1.64%
Attached – Row 288,400 284,900 -3,500 -1.21%
Apartment 251,500 250,600 -900 -0.36%
Total City 418,500 413,900 -4,600 -1.10%

 

 Explanation of our Calgary Real Estate Market Snapshot.

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

  

**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.

Courtesy of TSW Real Estate Group

Gord Piper & Brent Wilcox

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Calgary Real Estate Market Snapshot for Jan 1, 2019

Wednesday, January 2nd, 2019

What is really happening in the Calgary Real Estate Market?

First Explaining my report: 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 Monthly Report 

 

 

Current Report

Current Months of Inventory: 

In December our months of inventory increased in all categories except Semi-Detached which decreased a little.  Of note is that apartment condos increased 4.15 months – this is important as last month condos decreased by 1.63 leaving a net 2 month gain of 2.54 months which is still substantial.  All housing categories are now in a “buyer’s market position”.

 

End of Nov 2018    Dec 2018    Change
Detached 5.16 5.23 0.07
Semi Detached 6.97 6.59 -0.39
Attached – Row 6.58 6.81 0.23
Apartment 5.51 9.66 4.15
Total City 5.57 6.18 0.60

 

 

Calgary Listing Inventory

In December, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector followed by the Apartment Condo sector. This decrease is normal at this time of year as people often take their home off the market during the Holiday Season and many will relist in January.

 

Inventory Nov 2018    Dec 2018    Change
 Detached 3507 2592 -915
Semi Detached 753 573 -180
Attached – Row 948 715 -233
Apartment 1323 1024 -299
Total Calgary 6531 4904 -1627

 

Calgary Sales:

In December we saw a decrease in sales in all Categories.  Again, this is very normal as people are busy during the holidays and Real Estate moves often get put off until people are settled in after the holidays.  I speculate that in January these numbers will start to increase.

 

Calgary Sales  Nov 2018    Dec 2018    Change % Change
Detached 680 496 -184 -27.06%
Semi Detached 108 87 -21 -19.44%
Attached – Row 144 105 -39 -27.08%
Apartment 240 106 -134 -55.83%
Total City 1172 794 -378 -32.25%

 

***Sales Compared to last year***

As you can see from the chart below comparing sales to last year’s sales there have been some substantial changes.  In the first half of the year we were trending up and in the last 6 months we are trending down rather quickly.  My belief is that this is due to the Economic conditions in Calgary and declining consumer confidence.

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

 

 

Calgary Real Estate Sales Prices:

December saw prices decrease in all sectors with the largest decrease being in the Detached home sector.  This is expected with the high number of months of inventory on the market.  Unless something changes we can expect to see this trend for a few more months.

  Sales Prices Nov 2018     Benchmark Price   Dec 2018   Benchmark Price Change
Detached 486,000 481,400 -4,600
Semi Detached 400,700 397,500 -3,200
Attached – Row 292,900 288,400 -4,500
Apartment 252,800 251,500 -1,300
Total City 422,600 418,500 -4,100

 

 

Sales Prices “Year to Date”  

Well the numbers are finally in for 2018 with all categories showing a loss in the Benchmark price.

Sales Prices Jan 1, 2018    Benchmark Price  Dec 2018   Benchmark Price Change

$

% Change
Detached 498,700 481,400 -17,300 -3.47%
Semi Detached 412,500 397,500 -15,000 -3.64%
Attached – Row 296,700 288,400 -8,300 -2.80%
Apartment 256,400 251,500 -4,900 -1.91%
Total City 432,400 418,500 -13,900 -3.21%

 **Please note that these numbers include only Calgary and  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 contact us.  If you have any questions about this summary or about Real Estate in general, please feel free to contact us.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Calgary Real Estate Market Snapshot for Dec 1, 2018

Tuesday, December 4th, 2018

What is really happening in the Calgary Real Estate Market?

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/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 Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.  In November there were some ups and some downs with the most significant being the Apartment Condo sector that went from 7.12 months to 5.49 months, which is a significant drop and is now the lowest Apartment Condos have been in well over a year.  One month does not make a trend and I speculate that this is largely do to listings expiring and people are leaving them off till the new year. All categories are still in a “Buyers Market” position.

End of Oct 2018    Nov 2018    Change
Detached 4.80 5.14 0.35
Semi Detached 6.53 6.94 0.40
Attached – Row 6.59 6.56 -0.04
Apartment 7.12 5.49 -1.63
Total City 5.56 5.55 -0.01

  

Calgary Listing Inventory

In November, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector followed by the Apartment Condo sector. This is normal at this time of year and we should expect this trend to continue for the rest of the year as consumers move their focus to Christmas.

 

Inventory Oct 2018    Nov 2018    Change
 Detached 3976 3491 -485
Semi Detached 823 749 -74
Attached – Row 1009 944 -65
Apartment 1509 1317 -192
Total Calgary 7345 6501 -844

 

Calgary Sales:

In November we saw a slight increase in Sales in the Apartment Condo Sector over last month while other sectors saw a decrease in sales. Sales decreasing at this time of year is normal with Christmas approaching.

Calgary Sales  Oct 2018    Nov 2018    Change % Change
Detached 829 679 -150 -18.09%
Semi Detached 126 108 -18 -14.29%
Attached – Row 153 144 -9 -5.88%
Apartment 212 240 28 13.21%
Total City 1322 1171 -151 -11.42%

 

***Sales Compared to last year:

As you can see from the chart below comparing sales to last year there have been some substantial changes.  In the first half of the year we were trending up and in the last 6 months we are trending down rather quickly.  My belief is that this is due to the Economic conditions in Calgary and declining consumer confidence.

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

 

Calgary Real Estate Sales Prices:

November saw prices decrease in all sectors with the largest decrease being in the Detached home sector.  This is expected with the high number of months of inventory on the market.  Unless something changes we can expect to see this trend for a few more months.

  Sales Prices Oct 2018     Benchmark Price   Nov 2018   Benchmark Price Change
Detached 490,200 486,000 -4,200
Semi Detached 403,400 400,700 -2,700
Attached – Row 293,400 292,900 -500
Apartment 257,200 252,800 -4,400
Total City 426,300 422,600 -3,700

  

Sales Prices “Year to Date”  

Sales Prices Jan 1, 2018    Benchmark Price  Nov 2018   Benchmark Price Change

$

% Change
Detached 499,600 486,000 -13,600 -2.72%
Semi Detached 416,600 400,700 -15,900 -3.82%
Attached – Row 299,500 292,900 -6,600 -2.20%
Apartment 257,700 252,800 -4,900 -1.90%
Total City 433,200 422,600 -10,600 -2.45%

  

**Please note that these numbers include only Calgary homes 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 TSW Real Estate Group here.

 

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Calgary Real Estate Market Snapshot for Nov 1, 2018

Thursday, November 1st, 2018

What is really happening in the Calgary Real Estate Market?

Months of Inventory for last 2 years.

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/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 Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.  In October we saw every category decrease in the number of months of inventory, however all categories are still in a Buyers Market position.

End of Sept 2018    Oct 2018    Change
Detached 5.49 4.80 -0.69
Semi Detached 7.09 6.53 -0.56
Attached – Row 7.58 6.59 -0.99
Apartment 7.68 7.12 -0.56
Total City 6.25 5.56 -0.69

  

Calgary Listing Inventory

In October, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector followed by the Apartment Condo sector and then Attached-Row.  This is normal at this time of year and we should expect this trend to continue for the rest of the year.

 

Inventory Sept 2018    Oct 2018    Change
 Detached 4348 3976 -372
Semi Detached 872 823 -49
Attached – Row 1107 1009 -98
Apartment 1620 1509 -111
Total Calgary 7947 7345 -602

 

Calgary Sales:

An interesting twist, normally we see sales drop in October over Sept,  yet this year we saw an increase.  Not a large increase but an increase.

Calgary Sales  Sept 2018    Oct 2018    Change % Change
Detached 792 829 37 4.67%
Semi Detached 123 126 3 2.44%
Attached – Row 146 153 7 4.79%
Apartment 211 212 1 0.47%
Total City 1272 1322 50 3.93%

 

Sales Compared to last year:  Thought this is a number that deserves a look as the trend is changing. Chart shows this year’s sales as a percentage of last years so yes,  sales are down but they are down less than at the beginning of the year.

Jan Feb Mar Apr May June July Aug Sept Oct Nov  Dec
102% 82% 72% 80% 82% 89% 95% 93% 85.9% 90.1%    

 

Calgary Real Estate Sales Prices:

October saw prices decrease in all sectors except Apartment Condos which did not change. This is expected with the high number of months of inventory on the market.  Unless something changes we can expect to see this trend for a few more months.

  Sales Prices Sept 2018     Benchmark Price   Oct 2018   Benchmark Price Change
Detached 493,100 490,200 -2,900
Semi Detached 407,400 403,400 -4,000
Attached – Row 294,200 293,400 -800
Apartment 257,200 257,200 0
Total City 428,700 426,300 -2,400

  

Sales Prices “Year to Date”  

Same as monthly number

Sales Prices Jan 1, 2018    Benchmark Price  Oct 2018   Benchmark Price Change

$

% Change
Detached 499,600 490,200 -9,400 -1.88%
Semi Detached 416,600 403,400 -13,200 -3.17%
Attached – Row 299,500 293,400 -6,100 -2.04%
Apartment 257,700 257,200 -500 -0.19%
Total City 433,200 426,300 -6,900 -1.59%

 

**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  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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Calgary Real Estate Market Snapshot Oct 1, 2018

Tuesday, October 2nd, 2018

Months of Inventory for the Calgary Real Estate Market

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/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 Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.  In September we saw every category increase quite substantially in the number of months of inventory putting the entire Calgary market into a buyer’s market position.

End of Aug 2018    Sept 2018    Change
Detached 4.78 5.49 0.71
Semi Detached 6.45 7.09 0.64
Attached – Row 6.22 7.58 1.36
Apartment 6.86 7.68 0.82
Total City 5.45 6.25 0.80

 

 Calgary Listing Inventory

In September, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector followed by the apartment condo sector.  This is normal at this time of year and we should expect this trend to continue for the rest of the year.

***One interesting note is that in the last 2 days of September the inventory decreased by almost 500 listings. I believe this is listings expiring and some of these will get re-listed as this is exactly what happened last month.

Inventory Aug 2018    Sept 2018    Change
 Detached 4433 4348 -85
Semi Detached 909 872 -37
Attached – Row 1113 1107 -6
Apartment 1666 1620 -46
Total Calgary 8121 7947 -174

 

Calgary Sales:

Sales were down in all categories. This is normal for September as we will now tread down every month until the new year.

Calgary Sales  Aug 2018    Sept 2018    Change % Change
Detached 927 792 -135 -14.56%
Semi Detached 141 123 -18 -12.77%
Attached – Row 179 146 -33 -18.44%
Apartment 243 211 -32 -13.17%
Total City 1490 1272 -218 -14.63%

 

Sales Compared to last year:  Thought this is a number that deserves a look as the trend is changing. This chart shows this year’s sales as a percentage of last years so yes,  sales are down but they are down less than at the beginning of the year.

Jan Feb Mar Apr May June July Aug Sept Oct Nov  Dec
102% 82% 72% 80% 82% 89% 95% 93% 85.9      

 

Calgary Real Estate Sales Prices:

September saw prices decrease in all sectors which is expected with the high number of months of inventory on the market.  Unless something changes we can expect to see this trend for a few more months.

  Sales Prices Aug 2018     Benchmark Price   Sept 2018   Benchmark Price Change
Detached 497,000 493,100 -3,900
Semi Detached 411,300 407,400 -3,900
Attached – Row 296,700 294,200 -2,500
Apartment 258,100 257,200 -900
Total City 432,000 428,700 -3,300

 

Sales Prices “Year to Date”  

Same as monthly number

Sales Prices Jan 1, 2018    Benchmark Price  Sept 2018   Benchmark Price Change

$

% Change
Detached 499,600 493,100 -6,500 -1.30%
Semi Detached 416,600 407,400 -9,200 -2.21%
Attached – Row 299,500 294,200 -5,300 -1.77%
Apartment 257,700 257,200 -500 -0.19%
Total City 433,200 428,700 -4,500 -1.04%

 **Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  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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Calgary Real Estate Market Snapshot Sept 1, 2018

Tuesday, September 4th, 2018
What is really Happening in the Calgary Real Estate Market?

What is really Happening in the Calgary Real Estate Market?

 

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

In August the months of inventory remained fairly flat with the exception of Attached-Row homes which decreased by .56  I see this as a correction as last month this number went up by over 1.0

 

End of July 2018    Aug 2018    Change
Detached 4.72 4.78 0.06
Semi Detached 6.07 6.45 0.37
Attached – Row 6.78 6.22 -0.56
Apartment 7.01 6.86 -0.16
Total City 5.46 5.45 -0.01

 

 Calgary Listing Inventory

In August, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector. This is totally normal at this time of year and we should expect this trend to continue for the rest of the year.

 

Inventory July 2018    Aug 2018    Change
 Detached 4578 4433 -145
Semi Detached 911 909 -2
Attached – Row 1187 1113 -74
Apartment 1774 1666 -108
Total Calgary 8450 8121 -329

 

Calgary Sales:

Sales were down in all categories (except Attached-Row which increased by 4) , This is normal for August as we are moving out of our busy season and people are focused on vacations and outdoor activities and now back to school.

 

Calgary Sales  July 2018    Aug 2018    Change % Change
Detached 969 927 -42 -4.33%
Semi Detached 150 141 -9 -6.00%
Attached – Row 175 179 4 2.29%
Apartment 253 243 -10 -3.95%
Total City 1547 1490 -57 -3.68%

 

Sales Compared to last year:  Thought this is a number that deserves a look as the trend is changing. Chart shows this year’s sales as a percentage of last years so yes sales are down but they are down less than at the beginning of the year.

Jan Feb Mar Apr May June July Aug Sept Oct Nov  Dec
102% 82% 72% 80% 82% 89% 95% 93% ‘

 

 Calgary Real Estate Sales Prices:

As you can see prices in all sectors decreased in August.  As we are now in a buyer’s market we should expect prices to decline slightly which is what happened.

 

  Sales Prices July 2018   Benchmark Price   Aug 2018   Benchmark Price Change
Detached 501,300 497,000 -4,300
Semi Detached 416,200 411,300 -4,900
Attached – Row 300,300 296,700 -3,600
Apartment 259,700 258,100 -1,600
Total City 435,200 432,000 -3,200

  

Sales Prices “Year to Date”  

Same as monthly number

Sales Prices Jan 1, 2018    Benchmark Price  Aug 2018   Benchmark Price Change

$

% Change
Detached 499,600 497,000 -2,600 -0.52%
Semi Detached 416,600 411,300 -5,300 -1.27%
Attached – Row 299,500 296,700 -2,800 -0.93%
Apartment 257,700 258,100 400 0.16%
Total City 433,200 432,000 -1,200 -0.28%

  

**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  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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Calgary Real Estate Market Snapshot – Aug 1, 2018

Thursday, August 2nd, 2018

What is really happening in the Calgary Real Estate Market?

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/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

 

Watch the Trend

On the above graph it is important to see the trends – As you can see the apartment condo absorption rate is has been trending down however in July it reversed and when back up.

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

In July the months of inventory increased in every Category.  If you have been following my monthly snapshot you will notice that most months when this changes it changes only a little where this month the numbers have increased substantially. This change puts us deep into a Buyer’s market in every category.

 

End of June 2018    July 2018    Change
Detached 3.98 4.72 0.74
Semi Detached 5.04 6.07 1.04
Attached – Row 5.73 6.78 1.05
Apartment 6.41 7.01 0.60
Total City 4.65 5.46 0.81

  

Calgary Listing Inventory

In July, our inventory decreased increased in all sectors and overall. This is totally normal at this time of year and we should expect this trend to continue for the rest of the year.

 

Inventory June 2018    July 2018    Change
 Detached 4817 4578 -239
Semi Detached 922 911 -11
Attached – Row 1209 1187 -22
Apartment 1872 1774 -98
Total Calgary 8820 8450 -370

Calgary Sales:

Sales were down in all categories and again this is normal for July as this is moving out of our busy season when people are focused on vacations and outdoor activities.

Sales Compared to last year: Of interest if we compare to last year Sales in June we were 11.3% down from last year while July we were down only 4.8% from last year – a big improvement.

 

Calgary Sales  June 2018    July 2018    Change % Change
Detached 1210 969 -241 -19.92%
Semi Detached 183 150 -33 -18.03%
Attached – Row 211 175 -36 -17.06%
Apartment 292 253 -39 -13.36%
Total City 1896 1547 -349 -18.41%

  

Calgary Real Estate Sales Prices:

As we are now in a buyer market we should expect prices to decline slightly which is what happened except in the Apartment Condo sector where prices increased slightly.

 

  Sales Prices June 2018   Benchmark Price   July 2018   Benchmark Price Change
Detached 503,100 501,300 -1,800
Semi Detached 418,000 416,200 -1,800
Attached – Row 302,300 300,300 -2,000
Apartment 259,100 259,700 600
Total City 436,500 435,200 -1,300

  

Sales Prices “Year to Date”  

Same as monthly number

Sales Prices Jan 1, 2018    Benchmark Price  July 2018   Benchmark Price Change

$

% Change
Detached 499,600 501,300 1,700 0.34%
Semi Detached 416,600 416,200 -400 -0.10%
Attached – Row 299,500 300,300 800 0.27%
Apartment 257,700 259,700 2,000 0.78%
Total City 433,200 435,200 2,000 0.46%

  

**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  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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