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June 2012, Calgary Housing Market Snapshot

Tuesday, July 3rd, 2012

Want to know what’s really happening in the Calgary Real Estate Market.  Below you will find a summary of some key areas with a few short comments.  All stats are taken from the Realtors June stats package from the Calgary Real Estate Board.

Calgary housing market continues to perform!

Calgary Listing Inventory:  Inventory levels for all categories remained almost flat for June.

Inventory 

May  2012   

June  2012 

Change
Single   Family Home

3842

3817

-25
Condo  Townhouse    

675

693

+18
Condo  Apartment   

1222

1205

-17
Total  

5739

5715

-24

 

Calgary Sales: 

Sales decreased slightly in all categories this month.   In my opinion this was expected as we are following the same trend as last year when our sales peaked in June.  Total Residential sales however were 16% higher for the first half of this year compared to last year.

Sales

May  2012

June 2012

Change

% Change

Single Family Home

1710

1609

-101

-5.9
Condo    Townhouse  

289

253

-36

-12.4
Condo Apartment

386

340

-46

 -11.9
Total

2385

2202 

         -183 -7.7

 

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

As the chart below demonstrates the benchmark price for all categories increased marginally this month.  In my opinion this is a very healthy market with good activity level and prices showing modest increases.

Sales Prices May  2012 Benchmark Price   

June  2012 Benchmark Price  

Change

Single Family Homes

427,500

430,800

+3,300
Condo Townhouse  

277,000

278,000

+1,000
Condo    Apartment  

245,400

246,300

+900

The absorbtion rate is the number of listings divided by the number of sales in the last month.  absorbtion rates are as follows:

Single Family Homes: 2.24

Townhouses: 2.33

Apartment Condos: 4.23

This tells me that single family homes and townhouses are moving quicker than apartment style condos.

Overall the market is now in a balanced market position  It is interesting as there are still many communities that are in a buyer’s market position as they have a higher inventory.  If you want to know how your community sit’s let me know.

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

If you find this info useful please pass on to others who will benefit.

Gord, Eric & Brent

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May 2012 Calgary Real Estate Stats Snapshot

Sunday, June 3rd, 2012
Gord Piper and Associates are proud to present a snapshot of the Calgary Real Estate Market for May 2012. Below you will find a summary of some key areas with a few short comments.  All data is taken from the Calgary Real Estate Board‘s monthly stats package.

Calgary Listing Inventory: Inventory levels for all categories increased by almost 9.0 %.  Rising inventories can be a flag for the market cooling however the sales also increased by 8.2% so we are still below a
2.5 month inventory turnover indicating a balanced market.

Inventory April  2012 May  2012 Change
Single
Family Home 		3501 3842 +341
Condo  Townhouse
 612 675 +63
Condo  Apartment
 1157 1222 +65
Total
 5270 5739 +469
Calgary Sales:
Sales increased in all categories equally this month.  What’s interesting is that for all categories combined we are 31.77% higher than the same period last year.
Sales April  2012 May  2012 Change % Change
Single Family Home 1581 1710 +129 +8.2
Condo
Townhouse 		267 289 +22 +8.2
Condo Apartment 351 386
+35		 +9.9
Total 2200 2385 185 +8.4
Calgary Real Estate Sales Prices:  Please note that we are now using the Benchmark price for this comparison.
With inventory increasing only slightly and sales increasing slightly it only makes sense that we see prices
start to rise.  As you can see below Single Family homes saw the largest increase.  I believe this is because the increase in sales activity on single family homes started a few months before condo sales started increasing.
Sales Prices April  2012 Benchmark Price May  2012 Benchmark Price Change
Single Family Homes 422,000 427,500 +5,500
Condo Townhouse 276,400 277,000 +600
Condo
Apartment 		243,400 245,400 +2,000
Overall the market is now in a balanced market position and the amount of new listings in the next month might determine the direction for the rest of the year.   It is interesting as there are still many communities that are in a buyer’s market position as they have a higher inventory.  If you want to know how your community sit’s please contact us.
Gord, Brent and Eric

 

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April 2012 Real Estate Market Snapshot

Monday, April 30th, 2012

Gord Piper and Associate’s are happy to announce that Calgary home sales continue to show strength as our inventory of listings remains flat.   Below you will find a short summary of key numbers in the Calgary Real Estate market.  Stats are all taken from the Calgary Real Estate Boards Monthly Stats Package produced for Calgary Realtors.

Calgary Listing Inventory:  Inventory levels for Single Family homes increased marginally while Inventory for Condo’s (Townhouse and Apartment) remained flat.   To put this in perspective the inventory at this time last year was 6324 listings or almost 1000 more.   

Inventory  March   2012  April   2012  Change
Single Family Home 3367 3501 + 134
Condo  Townhouse    606 612 + 6
Condo  Apartment   1119 1157 +38
Total 5092 5270 + 178

 Calgary Sales: 

Sales this month were almost the same as last month.  Looking at year over year this is apox a 26% increase in sales over the same month last year.

Sales March  2012 April   2012 Change % Change
Single Family Home 1576 1582 + 6 +.03%
Condo  Townhouse    235 267 +32 +13.6%
Condo Apartment 356 351 –          5 -.09%
Total 2167 2200 +33 +1.52%

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

With inventory increasing only slightly and sales increasing substantially it only makes sense that we see prices start to rise.  As you can see below Single Family homes saw the largest increase.  I believe this is because the increase in sales activity on single family homes started a few months before condo sales started increasing.

Sales Prices March  2012 Benchmark Price    April   2012 Benchmark Price   Change
Single Family Homes 433,500 449500 +16,000
Condo Townhouse    293,600 294,500 +900
Condo  Apartment    247,800 248,300 + 500

Overall the market is now in a seller’s market position while Apartment condos, small towns and country residential are still in a balanced market.  It is interesting as there are still many communities that are in a buyer’s market as they have a higher inventory.  If you want to know how your community sit’s let me know.  

If you have any questions about this summary or any Real Estate questions please feel free to contact us. 

Gord, Eric & Brent

For a free market evaluation click here

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Calgary Real Estate March 2012 snapshot

Tuesday, April 3rd, 2012

Another exciting month in the Calgary Real Estate Market.  With our Inventory increasing only slightly and the sales increasing substantially it is driving prices upwards.  We have noticed that especially in some Northwest Communities it is becoming harder to find quality homes for our clients.   Below you will snapshot of whats happening in the Calgary Real Estate Market.

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 but what is important to look at is the increase compared to our sales. This increase now seems small and what we are seeing on the street is that it is getting hard to find good homes in certain areas now.

Inventory Feb  2012
 March   2012 Change
Single
Family Home 		3093 3367 274
Condo  Apartment
 1031 1119 88
Condo
Townhouse 		612 606 -6
Total
 4736 5092 +356

Calgary Sales:

The chart below speaks for itself with sales in all categories increasing.         

Sales February  2012 February  2012 Change % Change
Single Family Home 1284 1576 +292 +22.7
Condo Apartment 248 356 +108 +43.5
Condo Townhouse 205 235 +30 +2.2
Total 1737 2167 +430 +24.7%

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

Again the chart below speaks for itself.  With inventory increasing only slightly and sales increasing substantially it only makes sense that we see prices start to rise.  Simply Supply and demand at work.

Sales Prices Feb 2012
Benchmark Price 		March  2012 Benchmark Price Change
Single Family Homes 427,000 433,500 +6500
Condo Apartment 242,900 247,800 +4900
Condo Townhouse 288,600 293,600 +5000

Overall the market is now in a seller’s market position.   It is interesting as there are still many communities that are in a buyer’s market position as they have a higher inventory. If you want to know how your community is positioned 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 anytime.

Gord, Eric & Brent

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February 2012 Calgary Real Estate Market Report

Friday, March 2nd, 2012

Real Estate in Calgary and specifically in Calgary Northwest has picked up the pace substantially.   If you are looking for information specific to your home I would be happy to offer a free no obligation home evaluation.  

 All the numbers below are taken from the Calgary Real Estate Board’s statistics package for Realtors.  Below you will find a summary of some key areas with a few short comments.   

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   Jan 2012    Feb  2012  Change
Single Family Home 2980 3093 +113
Condo’s 1449 1643 + 194
Total 4430 4736 +306

 

Calgary Sales: 

Calgary Single Family home and Condo sales saw substantial increases in February.         

Sales January 2012 February  2012 Change
Single Family Home 764 1284 + 520
Condo’s 305 453 + 148
Total 1078 1737 + 659

 Calgary Real Estate Sales Prices:  Please note that this section has changed so the numbers look much different from last month.  In the past the numbers I have always used was the median price as this was in my opinion more accurate than simply using an average.  The Canadian Real Estate Association along with the Calgary Real Estate Board have now introduced the MLS Home Price Index which they believe is more accurate than using the Median price and will show less false increases and decreases.  For the purpose of this I will use their benchmark price – what an average home would sell for.  As you can see by the numbers all categories of housing in Calgary increased in the month of February which makes sense to me as the inventory is up only a little and our sales are up substantially.

Sales Prices January Benchmark Price Feb 2012 Benchmark Price   Change
Single Family Homes 422600 427,000 +$4,400
Condo Townhouse 287,900 288,600 + $700.
Condo Apt Style 237,500 242,900 +$5,400

Overall the market has changed from a strong buyers market to a balanced Market and when I look community by community many popular communities are in a seller’s market position now.

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

Gord, Eric & Brent

403-861-2256

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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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December 2011, Monthly Housing Stats Report

Monday, January 2nd, 2012

What”s happening in the Calgary Real Estate market?

  The stats below are taken from information supplied to realtors through the Calgary Real Estate Board.  As Real Estate is all about supply and demand that is what this article will focus on :

  • Our Inventory
  • Our Sales
  • and of course Prices

  As we are at a year-end I am providing both monthly and then yearly results.

Calgary Listing Inventory:  Inventory levels for both Single Family homes and Condo’s decreased substantially this month.   This movement is normal for this time of year as many people do not want their home on the market during the holiday season.  Expect that starting January our listing inventory will start to creep upwards.

Inventory   November 2011  December  2011 Change
Single Family Home 3761 2761 Decrease of 1000
Condo’s 1676 1287 Decrease of 389
Total 5437 4048 Decrease of 1389

 Calgary Listing Inventory year to date.  Very Similar numbers compared to last year.  

Inventory  Dec 2010  December  2011 Change
2712 2761 49
Condo’s 1429 1287 -142
Total 4141 4048 -97

Calgary Sales: 

Calgary Single Family home sales and Condo sales for the month of December declined slightly from November.  Again the holiday season can account for this trend.         

Sales November 2011 December 2011 Change
Single Family Home 962 722 -240
Condo’s 391 310 -81
Total 1353 1032 -321

Calgary Sales Year to Date

Sales for both single family homes and condos showed an increase over 2010, a very positive sign moving forward.

Sales Total  2010  Total  2011 Change % Change
Single Family Home 12,091 13,186 1095 9.06%
Condo’s 5,176 5,382 206 3.98%
Total 17267 18,568 1301 7.53%

Calgary Real Estate Sales Prices:  In 2011 Single family home prices decreased by $9,175 while the median price of condo’s increased by $5,875.  The median prices are not showing any certain direction but are bouncing up and down every month.  Let’s look at the year to date numbers download free action game for girls below to really see what’s happening.

Sales Prices November Median Prices December  Median Prices Change
Single Family Homes $402,925 $393,750 -$9,175
Condo’s $252,000 $257,875 $5,875

 *** Calgary Real Estate Sales Prices Year to Date

As you can see from the chart below the Median Sales price of both single family homes and condos remained almost constant this year.  We had a bit of a roller coaster with prices bouncing up and down but they are not showing a single direction.

   End of 2010 End of 2011 Change % Change
Single Family Homes  $389,000 $393,750 $4,750 1.2%
Condo’s  $260,000 $257,875 -$2.125 -.82%

 

Forecast for 2012

On the 18th of January the Calgary Real Estate Board put’s on their annual forecast breakfast where they bring in experts and share the forecasts for 2012.  As soon as the forecasts are available I will summarize for you.  

If you have any questions about this summary, or would like a full copy of the December Stats package please contact us. 

Gord, Eric & Brent

Check out our new Market Snapshot – a monthly look at active and sold listings in your community.

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November 2011 Calgary Real Estate Market Snapshot

Friday, December 2nd, 2011

It is our pleasure to provide key information from the Calgary Real Estate Boards monthly stats package and add a few short comments to help you really understand what is happening in the market.   The key areas that we look at include Inventory, Sales and the Median Price as this gives  a great snapshot of the market.

Calgary Listing Inventory:  Inventory levels for both Single Family homes and Condo’s decreased this month.   This is the first month in a long time that we have seen our inventory consistently decrease every week.  This movement is normal for this time of year as many people believe it is now better to wait till spring.

Inventory   October 2011  November 2011 Change
Single Family Home 4486 3761  Decrease of 725
Condo’s 1935 1676  Decrease of 259
Total 6421 5437 Decrease of 984

 Calgary Sales:  Calgary Single Family home sales for the month of November remained almost flat this month.  You may have read the news that says “sales are up” but that number is comparing sales to Nov 2010.  The normal trend at this time of year is to see sales drop so remaining flat is a sign of strength.        

Sales October 2011 November 2011 Change
Single Family Home 988 962 (26)
Condo’s 368 393 + 25
Total 1356 1355 (1)     

 Calgary Real Estate Sales Prices:  Single family home prices increased by $7,975 while the median price of condo’s decreased by $12,625.  The median prices are not showing any certain direction but are bouncing up and down every month.  Let’s look at the year to date numbers to really see what’s happening.

Single Family Home:  Dec 31, 2010 the median price was $406,000 so for the year the median price has decreased by $3,075

Condos:  Dec  31, 2010 the median price for condos was 267,250 compared to today at $250,000 showing a decrease of $17,250        

Sales Prices October Median Prices November Median Prices Change
Single Family Homes $395,000 $402,925 +$7,975
Condo’s $262,625 $250,000 $(12,625)

Overall we are still in a buyer’s market although with the decreased inventory levels and sales maintaining we are moving closer to a balanced market.

If you have any questions or comments about this snapshot please let us know.

For a full copy of the November Calgary Real Estate Boards Monthly Stats package please contact us.

Gord, Eric and Brent

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October Monthly Housing Stats Report at a glance!

Wednesday, November 2nd, 2011

Trying to make sense of the Calgary Real Estate market?

Below I have reported key indicators on what is really happening in the Calgary Real Estate market.  All numbers are taken from the Monthly Stats report for Realtors prepared by the Calgary Real Estate Board.

Here is October’s summary.

Calgary Listing Inventory:  Inventory levels for Both Single Family homes and Condo’s decreased this month.  Inventory levels have moved both up and down so it is not showing a definite direction.

Inventory September 2011 October Change
Single Family Home 4753 4486 (267)
Condo’s 2008 1935 (73)
Total 6761 6421 (340)

 Calgary Sales: 

Calgary Single Family home sales for the month of October showed a slight decrease.  Sales for Condos,  however decreased by about 15% from September.   Sales numbers dropping is very normal at this time of year as the peak selling season is typically April through June.  Interestingly, sales for single family homes and condos beat sales levels for October 2010 and we are on track to have higher sales in 2011 than in 2010.       

Sales September 2011 October Change
Single Family Home 1036 988 (48)
Condo’s 429 368 (61)
Total 1465 1356 (109)

 

Calgary Real Estate Sales Prices:    For October Median prices for Single Family homes decreased by $5.000 while condo’s increased by $2,625.00 over September.  We seem to be bouncing up and down every month but overall prices are remaining fairly stable.      

Sales Prices September Median Prices October Change
Single Family Homes $400,000 $395,000 (5,000)
Condo’s $260,000 262,625 +2,625

 The median sales price of Single Family homes in January was 390,000 so we are up $5,000 for the year.

The Median sales price of Condos in January was $255,000 so we are up $7250 for the year.

Overall we are still in a buyer’s market where buyers have lots of selection and buyers although buying are looking for value.

If you have any questions about this summary please contact us.   

Gord Piper, Brent Wilcox & Eric Dennis

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September 2011, Real Estate Market Snapshot

Sunday, October 2nd, 2011

Tired of sorting through all the reports and want a snapshot of whats happening in the Calgary Real Estate Market.  All data below has been taken from the Calgary Real Estate Boards monthly September 2011  Stats package for Realtors.

When trying to understand the market all we really need to know is supply and demand – the inventory and sales.  Of course you might want to know about prices too but what happens with prices is dependent on inventory and sales.  Below you will find this helpful information with a few of my own comments.

Calgary Listing
Inventory: Inventory levels for both Single Family homes and Condo’s increased only marginally this month and going  up and down so it is not showing a definite direction.

Inventory August
2011		 September
2011 		Change
Single Family Home 4573 4753 +180
Condo’s 1997 2008 +11
Total 6570 6761 +191

Calgary Sales:

Calgary sales for the month of September showed small decreases
for single family homes and for condos. Sales numbers dropping is very normal at this time of year as the peak selling season is typically April through
June.  Interestingly, sales for single family homes in September were 10.6% higher than in Sept 2010 and sales for Condo’s were 17.2% higher than in 2010.     

Sales August
2011		 September
2011 		Change
Single Family Home 1106 1036 (70)
Condo’s 468 429 (39)
Total 1574 1465 (109)

Calgary Real Estate Sales Prices:

For September Median prices for Single Family homes decreased by $2,251 while condo’s increased by $5,000 over August.  We seem to be bouncing up and down every month but overall prices are remaining stable.

Sales Prices August
Median Prices 2011		 September Median Prices Change
Single Family Homes $402,251 $400,000 ($2251)
Condo’s $255,000 $260,000 +$5,000

Overall we are still in a buyer’s market – however a slightly stronger Buyers market than last month with inventory going up and sales going down our turnover rate has increased.

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

Free no obligation Home Evaluation

Gord Piper & Brent Wilcox

CIR Realty

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