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Calgary Real Estate Market Snapshot- May 1, 2018

Wednesday, May 2nd, 2018

What is really happening in the Calgary Real Estate Market?

 

 

Months of housing inventory for last 2 years.

 

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.

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 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

April end  Absorption Rate

For the month of April we had some larger changes here.  Semi-Detached increased by 1.3, Detached increased by .4, while apartment condos decreased by .65 which has been drastically needed.  In my opinion we can be thankful that our inventory to sales is staying somewhat balanced considering the lull in sales.

End of Mar 2018    Apr 2018    Change
Detached 3.61 4.01 0.40
Semi Detached 4.70 6.00 1.30
Attached – Row 5.77 5.60 -0.17
Apartment 7.72 7.06 -0.65
Total City 4.64 4.82 0.19

  

Calgary Listing Inventory

In April, our inventory increased in all Sectors. This is totally expected at this time of year.  This trend is anticipated until the end of June as more people list their homes in Spring.

Inventory Mar 2018    Apr 2018    Change
Detached 3063 3642 579
Semi Detached 677 756 79
Attached – Row 941 1075 134
Apartment 1690 1851 161
Total City 6371 7324 953

 

Calgary Sales:

While our monthly numbers are trending upwards in all categories except Semi-detached these stats don’t show the comparison to last year.  Compared to last year Jan to April end we are down in Sales by 19.6%

As pointed out last month this can be due to a number of factors including but not limited to:

  • Weather
  • Mortgage rules changes from Jan 1
  • Calgary’s economy
  • Consumer lack of confidence.

 

Calgary Sales  Mar 2018    Apr 2018    Change % Change
Detached 848 908 60 7.08%
Semi Detached 144 126 -18 -12.50%
Attached – Row 163 192 29 17.79%
Apartment 219 262 43 19.63%
Total City 1374 1518 144 10.48%

  

Calgary Real Estate Sales Prices:

Prices in April showed very little change for all categories.  All categories increased with the exception of Apartment Condos and based on the absorption rate this will continue for some time.

  Sales Prices Mar 2018    Benchmark Price   Apr 2018   Benchmark Price Change
Detached 503,800 504,500 700
Semi Detached 418,800 420,000 1,200
Attached – Row 297,600 300,000 2,400
Apartment 257,100 256,700 -400
Total City 435,600 436,500 900

  

Sales Prices “Year to Date”  

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

$

% Change
Detached 499,600 504,500 4,900 0.98%
Semi Detached 416,600 420,000 3,400 0.82%
Attached – Row 299,500 300,000 500 0.17%
Apartment 257,700 256,700 -1,000 -0.39%
Total City 433,200 436,500 3,300 0.76%

  

**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 or 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 Feb 1, 2018

Friday, February 2nd, 2018

Absorption Rate – Calgary Real Estate

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.

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 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

Current Absorption Rate

The absorption rate for December increased for Detached and Apartment sectors with a tiny increase in Attached Row homes.  The only decrease is in the Semi-Detached.

At this point I am speculating however I believe that with the mortgage rule changes that went into affect Jan 1st we are going to see some buyers shifting from detached homes to Semi-Detached and from Semi-Detached to Row and from row to apartment condos.

 

End of Dec 2017  Jan 2018    Change
Detached 3.30 3.75 0.45
Semi Detached 4.64 4.56 -0.09
Attached – Row 5.22 5.33 0.11
Apartment 6.99 8.89 1.90
Total City 4.28 4.83 0.55

 

Calgary Listing Inventory

In January our inventory increased in all Sectors. This is totally expected as some sellers take their home off the market for December and relist in January.

Inventory Dec 2017  Jan 2018    Change
Detached 2033 2185 152
Semi Detached 441 451 10
Attached – Row 658 698 40
Apartment 1182 1289 107
Total City 4314 4623 309

 

Calgary Sales:

Sales numbers are down a little from December and again this is a normal seasonal trend.  What is important to note here is that when we compare with last year, January sales were 2% higher than in January 2017.

 

Calgary Sales  Dec 2017  Jan 2018    Change % Change
Detached 616 583 -33 -5.36%
Semi Detached 95 99 4 4.21%
Attached – Row 126 131 5 3.97%
Apartment 169 145 -24 -14.20%
Total City 1008 958 -50 -4.96%

Calgary Real Estate Sales Prices:

Prices in January decreased in every sector with larger decreases in the Attached Row and apartment condo sectors.  This is consistent with higher absorption rates in those sectors.

 

  Sales Prices Dec 2017 Benchmark Price   Jan 2018   Benchmark Price Change
Detached 499,600 499,400 -200
Semi Detached 416,600 415,800 -800
Attached – Row 299,500 296,700 -2,800
Apartment 257,700 256,200 -1,500
Total City 433,200 432,300 -900

 

 Sales Prices “Year to Date”  

Same as monthly number

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

$

% Change
Detached 499,600 499,400 -200 -0.04%
Semi Detached 416,600 415,800 -800 -0.19%
Attached – Row 299,500 296,700 -2,800 -0.93%
Apartment 257,700 256,200 -1,500 -0.58%
Total City 433,200 432,300 -900 -0.21%

  

**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.

 

Annual Forecast from the Real Estate Board Economist.

In a nutshell her forecast for 2018 is that the market will stay essentially the same as it was in 2017, with similar inventory levels and sales levels.  The Calgary Real Estate Board produced a full report showing not only what they predict but the reasons why.  I found it a very interesting read.  If you would like a full copy of the report just let us know and I can email to you.

 

 

 

 

 

 

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Jan 1, 2017 Calgary Real Estate Market Snapshot

Tuesday, January 3rd, 2017

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.

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 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

Calgary Real Estate Market Snapshot Showing months of Inventory supply

Calgary Real Estate Market Snapshot Showing months of Inventory supply

The absorption rate for all of Calgary stayed flat this month.   Detached Homes, Semi-Detached stayed almost the same.  Attached-Row went down by .67 while Apartment Condos went up by .26

November  2016 December   2016 Change
Detached 2.99 3.01 0.02
Semi Detached 4.01 3.83 -0.18
Attached – Row 5.42 4.75 -0.67
Apartment 7.33 7.59 0.26
Total City 4.05 4.04 -0.02

 

Calgary Listing Inventory

December saw a decrease in inventory levels in all categories.   This is very normal for the month of December as people were focused on the holidays and many people wait till after Christmas and New Years to list.

Inventory November  2016 December   2016 Change
Detached 2322 1719 -603
Semi Detached 453 368 -85
Attached – Row 770 570 -200
Apartment 1430 1108 -322
Total City 4975 3765 -1210

 

Calgary Sales:

Sales in all categories decreased substantially this month.  This is again very normal as people are focused on the holidays and not real estate during December.    To put things in perspective let’s compare with last year.

2016 Sales from Nov to Dec decreased by 23.91%

2015 Sales from Nov to Dec decreased by 30.4%

This tells me that we had less of a drop in sales in Dec 2016 compared to Dec 2015.

Calgary Sales   November  2016 December   2016 Change % Change
Detached 777 571 -206 -26.51%
Semi Detached 113 96 -17 -15.04%
Attached – Row 142 120 -22 -15.49%
Apartment 195 146 -49 -25.13%
Total City 1227 933 -294 -23.96%

 

Calgary Real Estate Sales Prices: 

As you can see the price changes in December were quite small.  The categories that showed the most decline are the Attached- Row and Apartment Condo Sector.  It’s no surprise that these are also the categories with the highest absorption rates.

  Sales Prices Nov  2016 Benchmark Price  Dec 2016  Benchmark Price Change
Detached 498,300 498,300 0
Semi Detached 384,800 385,400 600
Attached – Row 309,400 307,900 -1,500
Apartment 271,300 269,200 -2,100
Total City 436,200 435,400 -800

  

Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  Dec 31, 2016  Benchmark Price Change

$

% Change
Detached 514,100 498,300 -15,800 -3.07%
Semi Detached 393,100 385,400 -7,700 -1.96%
Attached – Row 318,500 307,900 -10,600 -3.33%
Apartment 288,000 269,200 -18,800 -6.53%
Total City 452,800 435,400 -17,400 -3.84%

 **Please note that these numbers include on 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 us know.  If you have any questions about this summary or Real Estate questions please  contact us.

 

 

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December 2016 Calgary Real Estate Market Snapshot

Friday, December 2nd, 2016

Did the new mortgage rules affect the Calgary Real Estate Market?  The answer is a resounding YES! Here is why.

Dec 2016 Absoption Rate Graph

December  2016 Absoption Rate Graph

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.

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 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

*** Absorption Rate***  

The absorption rate for all categories increased this month.   When the Mortgage rules changed in Oct we saw these numbers decrease as people jumped into the market before it was too late.  The November decrease in sales results in a higher absorption rate.

 

  October 2016 November  2016 Change
Detached 2.49 2.99 0.50
Semi Detached 2.96 4.01 1.05
Attached – Row 4.21 5.42 1.21
Apartment 6.14 7.33 1.19
Total City 3.30 4.05 0.75

 

Calgary Listing Inventory

November saw a decrease in inventory levels in all categories.   This is very normal for the month of November as people start to focus on Christmas and not Real Estate.

Inventory October 2016 November  2016 Change
Detached 2565 2322 -243
Semi Detached 486 453 -33
Attached – Row 834 770 -64
Apartment 1542 1430 -112
Total City 5427 4975 -452

 

Calgary Sales:

Sales in all categories decreased substantially this month.  To put things in perspective let’s compare with last year.

2017 Sales from Oct to Nov decreased by 25.3%

2016 Sales from Oct to Nov decreased by 11.3%

This shows a 14% drop over our normal drop in November sales.  Knowing that we has a small surge of sales in October tells me going forward the decrease from last year to this simply due to new mortgage rules should end up at about a 10% increase.

 

Calgary Sales   October 2016 November  2016 Change % Change
Detached 1031 777 -254 -24.64%
Semi Detached 164 113 -51 -31.10%
Attached – Row 198 142 -56 -28.28%
Apartment 251 195 -56 -22.31%
Total City 1644 1227 -417 -25.36%

  

Calgary Real Estate Sales Prices: 

All categories showed a decrease in prices this month with the exception of Attached row houses which increased slightly.   Last month we saw a larger decrease in Attached Row houses so I believe it’s just balancing out.  Moving forward how much prices are affected will depend on how much our inventory increases.  Typically we will see a decline in inventory & sales in December and then they will start to increase in January.

 

  Sales Prices October 2016 Benchmark Price   Nov 2016 Benchmark Price Change
Detached 502,200 498,300 -3,900
Semi Detached 386,500 384,800 -1,700
Attached – Row 308,100 309,400 1,300
Apartment 273,800 271,300 -2,500
Total City 438,900 436,200 -2,700

 

 Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  Nov 2016 Benchmark Price Change

$

% Change
Detached 514100 498,300 -15,800 -3.07%
Semi Detached 393100 384,800 -8,300 -2.11%
Attached – Row 318500 309,400 -9,100 -2.86%
Apartment 288,000 271,300 -16,700 -5.80%
Total City 452800 436,200 -16,600 -3.67%

 

 Price Sensitivity

**Please note that these numbers 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 Real Estate questions please  contact us.

 

 

 

 

 

 

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Consequences of Mortgage Rules Change

Thursday, November 3rd, 2016
As you are most likely aware by now, the mortgage rules changed on October 17th – if not here you can find a summary of changes.  I am going to give you my opinion of what this means to the Calgary Real estate Market. 
First some facts:  Sales for the month of October were 
Week 1 – 352
Week 2 – 375
Week 3 – 463 (rule change week)
Week 4 – 386
Looking at our sales by week makes it very clear that we saw a large spike in sales that was driven by buyers jumping in before the changes took effect. This to me means that the new rules are going to have a large effect of Calgary Real Estate sales volumes. 
 
I forecast that: 
  1. We will now see a substantial decrease in sales as buyers can no longer buy what they thought they would be able to afford. This will increase the number of homes for sale in Calgary putting us into more of a buyers market than we were. Ultimately this will put further downward pressure on pricing. 
  2. Buyers will back off buying as they believe that less people can buy so prices will come down.
  3. Over the next 3 months we will see a shift in what people are buying due to affordability.  IE: Those that were looking at starter homes will now be buying Townhouses and those looking at townhouses will now look at apartment condos. 
  4. I predict that it will take 3 to 4 months before we start to find out what the new normal really is. 
Unintended Consequences: 
  1. Buyers may be driven to borrrow private money (at a higher cost) just to secure the home they want putting them more at risk than before the rule change.
  2. Mortgage interest rates are going to increase.  Already the TD Canada Trust increased their rates as the cost & risk of lending money for mortgages has increased.

For a great article explaining above click here

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Tips for Buying a New Build Condo

Tuesday, March 15th, 2016

Tips for Buying a New Build Condo

With signs of uncertainty in the market, it has never been more important to analyze your next real estate investment. Jumping into the unknown and hoping for the best is risky business. While this tactic may have worked over the past few years during Calgary’s more lucrative real estate market it is even more risky in this economy. Real estate has never been a fool’s game and now is the time to switch strategies and become more diligent for a greater chance of success.

It’s also not a great idea to sit on the sidelines with your cash. Downward market shifts can be great because it amplifies the good, the bad, and weeds out the average. Keeping all of that in mind let’s take a look at some important factors you need to consider before buying a newly built condo, whether it’s for an investment, an upgrade, or your first home.

  1. Pricing

There’s an old saying in real estate – you make money in real estate by what you pay for your home, not when you sell it. Pricing is the easiest way to ensure that you are on the right track. If you are buying in a hot market or a popular neighborhood you may end up paying an inflated price for the location, and what if that location is no longer the hot spot when you are ready to leave? Stay away from inflated prices and trends.

  1. Developer Experience

The problem with heated markets is that it attracts amateurs that want to get in on the action. More often than not these products lack quality and design. They may look great on paper but the underlying issues will make you want out faster than the ink can dry. If you are looking to buy a newly built condo try to buy from a developer with plenty of projects already in their portfolio.

  1. Location and Neighborhood

Condo investments, resale or new, hinge on their location and the neighborhood that surrounds them. The neighborhood makes the condo and not the other way around. This doesn’t mean that the neighborhood has to be completely developed and urbanized; it just means that it has to have the foundation for resale and rental capacity.

  1. Location of Your Unit

Consider your view and location within the building. Try avoiding units near the buildings garbage area, parkade and the main lobby. A good view and location in the building will always make your living experience more enjoyable than one without. Keep in mind that a below average view has the ability to adversely affect your resale potential.

  1. Running the Numbers

Most first time buyers will know what they want to spend on a mortgage payment every month, and how much they have been pre-approved for but the numbers go so much deeper than that. Do you know what the monthly condo fees will be? Will you have to pay for your utilities? What about a parking stall? Even the closing costs vary when it comes to buying a condo versus buying a regular home. Make sure you have a good idea of what ALL of your monthly costs will be before you make your final decision.

 

Posted in Articles, Blog, Condos, Home Buyers, Property Values, Rental | Comments Closed

January Market Snapshot

Wednesday, February 3rd, 2016

Find out what is really happening in the 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 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.

Calgary Listing Inventory
In January our total inventory of listings in Calgary increased in all 3 categories. This is very typical for this time of year as many sellers wait until after the holiday season to list their homes.

 Inventory  Dec  2015 Jan  2016 Change
Detached 2138 2546 +408
Attached 1078 1223 +145
Apartment 1120 1253 +133
Total City of Calgary 4336 5022 +686

 

Calgary Sales:

Sales in all categories decreased in January.   In my opinion this is a direct reflection on what is happening in the Calgary economy as sales would typically increase in Jan over Dec.   Last year in Jan we sold 877 homes and this year we sold only 764 so we are also down from last year by 13%.

 

Sales Dec  2015 Jan  2016 Change % Change
Detached 533 465 -68 12.8%
Attached 194 170 -24 -12.4%
Apartment 151 129 -22 -14.6%
Total City of Calgary 878 764 -114 -13.0%

 

Calgary Real Estate Sales Prices:  

Prices for all detached homes showed a very slight increase this month while all other categories showed a decrease.  ***** CREB Stats Reported in our stats package show different numbers today for benchmark price for detached and attached homes for the end of the year.  It appears to me they may have reclassified something as detached homes are showing higher and attached are showing lower by about $4,000.  If I am correct then detached homes showed a slight decrease and attached homes showed a much smaller decrease.

  Sales Prices Dec  2015Benchmark Price  Jan  2016Benchmark Price Change
Detached 508,700 509,300 +600
Attached 351,400 345,600 -5,800
Apartment 285,500 281,900 -3,600
Total City of Calgary 448,800 447,300 -1,500

 

Sales Prices “Year to Date”   

Year to date prices – Same as above for this month.

Sales Prices Dec 31, 2015   Benchmark Price  Jan  2016Benchmark Price Change$ % Change
Detached 508,700 509,300 +600 +.11
Attached 351,400 345,600 -5,800 -1.65
Apartment 285,500 281,900 -3,600 -1.26
Total City of Calgary 448,800 447,300 -1,500 -.33%

 

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 my opinion this is the most critical number to look at.  January saw an increase in the absorption rate in all categories. This puts all sectors into a buyer’s market position.  Based on this I would have to predict further price easing in the upcoming months especially in the attached home and apartment condo sectors.

Absorption Rate   Dec  2015 Jan  2016 Change
Detached 4.01 5.48 +1.47
Attached 5.56 7.19 +1.63
Apartment 7.42 9.71 +2.29
Total City of Calgary 4..94 6.57 +1.63

 

Why would people buy in this market?

Two reasons come to mind. The first is people need a place to live and Real Estate has typically been looked at as a long term investment.  The second reason is that the higher priced homes have come down substantially more than the lower priced homes so it can be smart to “Move up” in a market like this.

 

Price Sensitivity

It is also important to note that homes in the lower price ranges are still moving much quicker than homes in the higher price ranges.

**Please note that these numbers 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 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, Melissa

TSW Real Estate Group

Posted in Articles, Blog, Property Values | Comments Closed

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

Posted in Articles, Blog, calgary realtor, Education, Home Buyers, Property Values | Comments Closed

May 2015 Market Snapshot

Monday, May 4th, 2015

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows 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. 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.
Want to see stats specific to your Community? Register for our Market Report at http://www.calgaryareasolds.com/
Find out what your Neighbor’s home sold for – Register for our Market Report at http://www.calgaryareasolds.com/

April saw a decrease in inventory and an increase in sales resulting in a stronger market. This puts us into a balanced market position overall. Detached and Attached homes are now in a sellers’ market position while apartment condos are in a balanced market position.

Calgary Listing Inventory: It is interesting to see that the inventory went down this month. This is partially due to not as many new listings hit the market and that sales increased. This is opposite of what I would normally expect for April.

Inventory  March  2015 April  2015 Change
Detached 3016 3024 +8
Attached 1258 1207 -51
Apartment 1419 1348 -71
Total City of Calgary 5693 5579 -114

Calgary Sales:
Sales in all categories increased this month. This is a normal trend where getting near the summer the sales increase.

Sales March  2015 April  2015    Change % Change
Detached 1061 1149 +88 +8.3%
Attached 387 458 +71 +18.3%
Apartment 299 350 +51 +17.0%
Total City of Calgary 1747 1957 +210 +12.0%

Calgary Real Estate Sales Prices:
Prices in all categories decreased marginally this month. The largest decrease is in the detached home category which is a little surprising as this is the category that is in the strongest market position. Based on the absorption rate below my prediction is that detached and attached homes will stay fairly stable while apartment condos should see decreases until our sales/inventory ratio balances out.

  Sales Prices March  2015 Benchmark Price  April  2015

Benchmark Price

 Change
Detached 513,800 510,200 -3,600
Attached 354,800 353,300 -1,500
Apartment 293,300 291,300 -2,000
Total City of Calgary 454,300 451,600 -2,700

Sales Prices “Year to Date”
Year to date prices – All categories have decreased.

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

$

% Change
Detached 518,600 510,200 -8,400 -1.6%
Attached 356,200 353,300 -2,900 -.8%
Apartment 300,400 291,300 -9,100 3.0%
Total City of Calgary 459,500 451,600 -7,900 -1.7%

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:
The absorption rate decreased again for all categories. What this means is that the relation to sales over inventory decreased. This puts detached homes and attached homes into a seller’s market, while apartment condos have now moved from a buyer’s market to a balanced market.

Absorption Rate   March  2015 April  2015 Change
Detached 2.84 2.63 -.21
Attached 3.25 2.64 -.61
Apartment 4.75 3.85 -.9
Total City of Calgary 3.26 2.85 -.41

**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 & Amy
TSW Real Estate Group

Posted in Articles, Blog, Education, Property Values | Comments Closed

Aug 2013 Calgary Real Estate market snapshot

Thursday, August 1st, 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 and we are moving even deeper into a Sellers Market.

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

Calgary Listing Inventory:  Inventory levels for all categories decreased again throughout July.  If you have been following my reports the Inventory levels had been increasing a little every month until last month.  This may very well be due to the flooding disaster in Calgary where some listings were taken off the market.

Inventory 

June  2013    

July  2013   

Change
Single Family Home

3199

2917

-282
Condo    Townhouse

489

407

-82
Condo    Apartment

896

768

-128
Total

4584

4092

-492

 

Calgary Sales: 

Sales decreased in all categories except apartment condos this month.   Following the trends of the last few years we are getting into summer vacations when people take holidays and therefore the sales numbers drop a little.  A very normal change.

Sales

June  2013 

July  2013  

Change

% Change

Single   Family Home

1638

1575

-63

-3.8%
Condo  Townhouse

317

295

-22

-.7%
Condo   Apartment

362

398

36

1.0%
Total

2317

2268

 -49

-2.1%

 

Calgary Real Estate We used another online defensive driving school school for our other son. Sales Prices:  Please note that we are now using the Benchmark price for this comparison.

In July, the benchmark price increased slightly for all categories except townhouses which saw a small drop.  This is simply a reflection demand outpacing supply and will continue until the inventory starts to increase faster than sales.

Sales Prices

June  2013

Benchmark Price

July  2013

 Benchmark Price  

Change

Single   Family Homes

459,700

461,600

1900
Condo   Townhouse

295,000

294,500

(500)
Condo  Apartment

264,000

267,600

3600

 Sales Prices  “Year to Date”   

Year to date prices have increased in all categories.

Sales Prices Dec  31 2012    Benchmark Price 

July  2013

Benchmark Price 

Change

% Change

Single   Family Homes

434,800

461,600

26,800

6.1%
Condo   Townhouse

284,100

294,500

10,400

3.66
Condo  Apartment

248,700

267,600

18,900

7.6%

  

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 July our absorption rate decreased in all categories. With inventory shrinking faster than sales are slowing it is now pushing us into a stronger “Sellers market position”.

Absorption Rate  

June 2013 

July 2013  

Change

Single   Family Homes

1.95

1.85

-.1
Condo   Townhouse

1.54

1.37

-.17
Condo  Apartment

2.48

1.93

-.55
Total   Calgary

1.98

1.80

-.18

**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.

 

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Posted in Blog, Property Values, Real Estate Board's Statistics | Comments Closed

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