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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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What’s happening in the Calgary Real estate market?

Saturday, September 3rd, 2011

This report gives you information on all the important indicators on whats happening in Calgary.  Real time, Real Estate Market stats at a glance for the Month of August 2011.  These stats  break the market down into what’s important and eliminates all the extra. Data is from the August Calgary Real Estate Boards Monthly stats package.

Calgary Listing
Inventory: Inventory levels for Both Single Family homes and Condo’s stayed very flat this month.  This is generally a good number however with sales levels it would balance the market a little more if our inventory dropped slightly.

Inventory July
2011		 August
2011 		Change
Single Family Home 4630 4573 (57)
Condo’s 2003 1997 (6)
Total 6633 6570 (63)

Calgary Sales:

Calgary sales for the month of August showed marginal decreases for single family homes and a slight increase 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 in August 2010 were 865 Single family homes and 468 condos for a total of
1333 showing an increase of 18% this year over last.    

Sales July  2011 August
2011		 Change
Single Family Home 1153 1106 (47)
Condo’s 453 468 +15
Total 1606 1574 (32)

Calgary Real Estate
Sales Prices: Median prices for Single Family homes decreased by $6,749 and condo’s decreased by $14,000 in August.  To me this is not alarming as the direction is not a trend.  We seem to bounce up and down every month but overall prices are remaining fairly stable.

Sales Prices July
Median Prices 		August 2011 Change
Single Family Homes $409,000 $402,251 ($6749)
Condo’s $269,000 $255,000 ($14,000)

Overall we are still in a buyer’s market – this month we moved slightly more in favour of buyers as our inventory stayed flat while sales did show a slight decrease therefore increasing our absorption rate.

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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 & Brent & Eric

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July 2011, Calgary Real Estate Stats at a glance

Friday, August 5th, 2011

Tired of trying to figure out whats happening in the Calgary Real Estate Market.   Below you will find a summary of some key indicators with a few short comments that will give you a clear indication of how the Calgary Real Estate market is performing.  This information is taken from the Calgary Real Estate Boards monthly stats package for realtors and is provided for you by Gord Piper and Associates.  If you would like to see the entire report contact us.

Calgary Listing Inventory:  Both Single Family homes and condo’s decreased marginally this month.     

Inventory June 2011 July 2011 Change
Single Family Home 4744 4630 Decrease of 114
Condo’s 2023 2003 Decrease of 20
Total 6767 6633 Decrease of 134

 

Calgary Sales: 

Calgary sales for the month of July showed decreases for both single family and condos. This is very normal as the peak selling season is typically April through June.  Of interest, even though sales numbers decreased in July our sales were still substantially higher than last July.     

Sales June 2011 July  2011 Change
Single Family Home 1398 1153 Decrease of 245
Condo’s 581 453 Decrease of 98
Total 1979 1606 Decrease of 373

 

Calgary Real Estate Sales Prices:    Prices for Single Family homes decreased slightly while condos increased very slightly this month.  Both seem to be remaining fairly flat with slight ups and downs but not heading in any one direction.    

Sales Prices June Median Prices July Median Prices Change
Single Family Homes $417,250 $409,000 Decrease of $8,250
Condo’s $265,000 $269,000 +$4,000

 

Overall we are still in a slight buyers market – this month we moved slightly more in favour of buyers as our inventory decreased only marginally while sales did show a decrease therefore increasing our absorption rate.

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 Piper  & Brent Wilcox

CIR Realty

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June 2011, Calgary Real Estate Stats at a glance

Sunday, July 3rd, 2011

Want to know  instantly whats happening in the real estate market in Calgary.  Below you will find a summary of some key areas with a few short comments.  All stats are taken directly from the Calgary Real Estate Boards monthly stats package for June 2011.  These highlights are all you need to stay informed.  Provided to you courtesy of Gord Piper and Associates.

Calgary Listing Inventory:  As shown below our inventory in Calgary Metro increased marginally this month.   

Inventory May  2011 June 2011 Change
Single Family Home 4616 4744 128
Condo’s 2092 2023 (69)
Total 6708 6767 59

 Calgary Sales: 

Calgary sales for the month of June showed increases in both single family and condos. Of interest, this is the first month all year where condo sales beat the number of condo sales in the same month of last year.  Single family homes have done this for a few months After years of research and testing the new system is designed to provide learner drivers with all the training, resources and qualified bronx driving schools instructors required to become a licensed driver. now.    

Sales May 2011 June 2011 Change
Single Family Home 1313 1398 85
Condo’s 503 581 78
Total 1816 1979 163

 

Calgary Real Estate Sales Prices:    Prices for Single Family homes and for condos decreased very slightly this month.  It’s interesting that for the last 3 months prices of single family homes have been almost flat at 420,000, 423,000 and 417,250.   Condos have stayed between $260,000 and $270,000 for the last 3 months.   This makes sense as our inventory is holding steady and sales are strong.  

Sales Prices May  Median Prices June Median Prices Change
Single Family Homes $423,000 $417,250 ($5750)
Condo’s $269,250 $265,000 ($4,350)

 Overall we are still in a slight buyers market. 

If you have any questions about this summary, or would like to receive the entire stats package or have other Real Estate questions feel free to contact us.  

Gord Piper and Brent Wilcox 

CIR Realty

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May 2011, Calgary Real Estate Stats

Friday, June 3rd, 2011
Calgary Real Estate Board Stats for the month of May have been published and here is our summary  of some key areas with a few short comments. 

Calgary Listing Inventory:  As shown below our inventory in Calgary Metro increased by 308 listings this month.   This is very typical to see listings rise as spring arrives.  

Inventory  April  2011 May 2011 Change
Single Family Home 4395 4616 +221
Condo’s 2005 2092 +87
Total 6400 6708 +308
 Calgary Sales: 

Overall Calgary sales for the month of May increased slightly from April.  Single family home sales increased while condo sales decreased ever so slightly.  Interesting enough sales of Inner city homes increased by almost 4%    

Sales April 2011 May 2011 Change
Single Family Home 1217 1313 +96
Condo’s 535 503 -32
Total 1752 1816 +64
 Calgary Real Estate Sales Prices:    Prices for Single Family homes increased by $3,000 this month while condos increased by $8,500.  This makes sense as our inventory is holding steady and sales are remaining steady.  

Sales Prices April Median Prices May Median Prices Change
Single Family Homes $ 420,000 $423,000 +$3,000
Condo’s $260,000 $268,500 +$8,500
  

Absorption Rate:  When looking at Real estate stats it is imperative to look at the absorption rate.

Absorption rate is simply the total inventory divided by the number of sales in the last month.  An absorption rate of between 2.3 to 4.0 months reflects a balanced market while a higher rate reflects a buyer’s market and therefore a lower rate reflects a seller’s market.  From the chart below you can see that we are still in a slight buyers market.

 May Absorption Rate Chart

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

Gord Piper  & Brent Wilcox                                                                                                                                                     

CIR Realty

403-861-2256

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April 2011, Calgary Real Estate Board Statistics

Monday, May 2nd, 2011

As a Calgary Realtor we receive a monthly statistics package from the Calgary Real Estate Board and it is my pleasure to share with you some of the highlights.  As supply and demand is the basis for what happens in the market, we will simply look at inventory, sales and of course prices.  Hope you enjoy and if you would like a copy of the entire stats package or information regarding your community simply contact us.

Calgary Listing Inventory:  As shown below our inventory in Calgary Metro increased by 483 listings this month.   This is very typical to see listings rise as spring arrives.  

Inventory  March  2011 April 2011 Change
Single Family Home 4024 4395 371
Condo’s 1913 2005 92
Total 5937 6400 463

 Calgary Sales: 

Calgary sales for the month of April declined slightly from March for both single family homes and condos.   It is unknown at this point how much the changing mortgage rules have affected sales and we won’t really know for till the end of June when people’s pre-approvals from before the mortgage changes run out. My feeling is not very much which means sales could continue  very strong in the upcoming months.   

Sales March 2011 April 2011 Change
Single Family Home 1355 1217 -138
Condo’s 581 535 -46
Total 1936 1752 -184

 

Calgary Real Estate Sales Prices :    Prices for  Single Family homes increased by $20,000 this month while condos increased by $4,000.  This makes sense as our inventory is holding steady and sales are strong.  

Sales Prices March Median Price April Median Prices Change
Single Family Homes $400,000 $ 420,000 20,000
Condo’s $256,000 $260,000 4,000

 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 Piper & Brent Wilcox

CIR Realty

403-861-2256

www.gordpiper.com

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March 2011, Calgary Real Estate Statistics

Sunday, April 3rd, 2011

Another Strong month in the Calgary Real Estate Market.  To help you keep up to date with the Market we have posted some highlights from the Calgary Real Estate Boards March monthly Statistics package for Realors.  It is our belief that Real estate is driven by supply and demand so the areas we focus on include the inventory of listings, our sales and of course median sales prices.  

Calgary Listing Inventory:  As shown below our inventory in Calgary Metro increased by 683 listings this month.   This is very typical to see listings rise as spring arrives.  

Inventory  Feb 2011 March 2011 Change
Single Family Home 3504 4024 +520
Condo’s 1750 1913 +163
Total 5254 5937 +683

Calgary Sales: 

Calgary sales continue to trend upwards with single family home sales increasing by 15.9% over February and Condo sales increasing by 24.1%  over February.  Sales always tend to increase with the arrival of spring.  It is unknown at this point how much the changing mortgage rules have impacted sales but the feeling that I have is not very much which means sales could continue to be very strong in the upcoming months.   

Sales Feb 2011 March 2011 Change
Single Family Home 1169 1355 +186
Condo’s 468 581 +113
Total 1637 1936 +299

 Calgary Real Estate Sales Prices :    Prices for  Single Family homes remained constant this month while condo prices dropped by $11,000 which is almost exactly what we gained in February.    

Sales Prices Feb   Median Price March Med Price Change
Single Family Homes $400,000 $400,000 0
Condo’s $267,000 $256,000 -$11,000

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

Gord Piper and Brent Wilcox

Century 21, The Professionals

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Calgary Real Estate Board Statistics Febuary 2011

Monday, February 28th, 2011

Calgary Real Estate activity levels show substantial increase. 

Whenever I look at the housing market I always look at some key numbers – Inventory, Sales and the median Price .  Looking at these 3 areas in my opinion give us a great snapshot of the market.  Below you will find this information along with a few comments.  Information below is taken directly from the Calgary Real Estate Boards Stats Package for realtors.

Calgary Listing Inventory:  As shown below our inventory in Calgary Metro increased by 547 listing this month.   As suggested before this number will very likely continue to increase as it does every spring.  

Inventory Jan 2011  Feb 2011 Change
Single Family Home 3073 3504 431
Condo’s 1634 1750 116
Total 4707 5254 547

 

Calgary Sales: 

Wow, Need I say anything more – the numbers below speak for themselves.  In certain communities we are even starting to see the odd competing offer.   

Sales Jan 2011    Feb 2011 Change
Single Family Home 791 1169 378 or 47.7%
Condo’s 302 468 166 or 54.9%
Total 1093 1637 544 or 49.8%

 

Calgary Real Estate Sales Prices :   For this summary,  I only  focus only on the Median Sales Price as the average can be skewed by How long could treatment at a 7 Day Detox Rehab Program take? Treatment at a detox rehab program can take as little as one week for an alcohol dependence, and two weeks for a drug dependence. Realtors selling more of less million dollar homes and shows a better reflection of the market.  Prices for both Single Family homes and Condos showed increases this last month.  Truly a reflection of supply and demand – our supply (inventory) is still fairly low while demand (sales) increased substantially.

Sales Prices Jan  Median Price Feb    Median Price Change
Single Family Homes $390,000 $400,000 $10,000
Condo’s $255,000 $267,000 $12,000

 

**It is important to note that some of this demand may be due to mortgage rules changing as of March 17th where people can now only amortize a mortgage over 30 years instead of 35 years.

In other news:  The Bank of Canada announced today that it will not be changing it’s overnight rate.  Therefore the Prime lending rate remains at 3.0%

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 Piper and Brent Wilcox

Century 21, The Professionals

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January 2011 Calgary Real Estate Boards Stats

Wednesday, February 2nd, 2011

Calgary Home Sales Rise Year – Over – Year – January 2011

If you would like to receive a the full statistics package from the Calgary Real Estate Board every month please contact us.

Below you will find a summary of some key areas with a few short comments.

Calgary Listing Inventory:  As shown below our inventory in Calgary Metro increased by 566 listing this month.   

Inventory December 2010 Jan 2011 Change
Single Family Home 2712 3073 361
Condo’s 1429 1634 205
Total 4141 4707 566

 Calgary Sales: 

 Single Family home sales increased this month and showed the first year over year increase since April 2010.

  Condo sales remained steady yet are still down from last year’s sales numbers.

Sales Dec 2010 Jan 2011 Change
Single Family Home 734 791 57
Condo’s 320 302 -18
Total 1054 1093 39

 

Calgary Real Estate Sales Prices :   For this summary,  I only  focus only on the Median Sales Price as the average can be skewed by After all, every casino offers secure transactions, a wide variety of games, and progressive jackpots. Realtors selling more of less million dollar homes and should be a better reflection of the market. 

Prices remained almost the same this month as in December. 

Sales Prices  Dec  Median Price Jan     Median Price Change
Single Family Homes $389,000 $390000 $1,000
Condo’s $258,500 $255,000 – $3500

 

Other:  We have certainly noticed an increase in activity with more active buyers looking to buy and with people getting their homes ready to sell.  Although we expect sales numbers to start showing more increases we also expect the inventory to continue to increase as many of the homes that came off the market last year did not sell and some of those will go back on the 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 Piper and Brent Wilcox

http://www.gordpiper.com/index_home.php

Century 21, The Professionals

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Calgary Real Estate Board 2011 Market Forecast

Monday, January 24th, 2011

The Calgary Real Estate Board has released their market forecast for 2011.  Below I have highlighted some key areas you may find of interest.

MLS RE-SALE HOMES

MLS RE-SALE HOMES 2009 2010 2011 Forecast Change Forecaster
Single Family Sales 14,400 12,095 14,500 19.9% CREB
Single Family Listings 22,459 25,709 25,000 -1.6% CREB
Single Family Average Price $442,327 $461,144 $480,000 4.1% CREB
Condo Sales 6,328 5,181 6,000 15.8% CREB
Condo Listings 10,323 11,423 10,000 -12.5% CREB
Condo Average Price $283,734 $289,697 $295,900 1.8% CREB
Town sales 3,943 3,525 4,000 13.5% CREB
Town Listings 8502 8828 9,000 2.0% CREB
Town Average Price $352,704 $359,327 $368,500 2.6% CREB

 

New Homes

New Homes 2009 2010 2011 Forecast Change Forecaster
Starts – Single Family 4,200 5,600 6,000 7% CREB
Starts – Multi Family  1,350 3,600 4,000 11% CREB

ECONOMIC INDICATORS

Economic Indicators 2009 2010 2011 Forecast Change Forecaster
GDP -2.8% 2.7% 4.15 1.4% Govt of Alberta
Calgary Net Migration 12,920 -4,154 10,000 340% CREB
1 Year Mortgage Rate 4.05% 3.83% 3.5% -.33% CMHC
5 Year Mortgage Rate 5.5% 5.75% 5.75% 0 CMHC
Oil Price (USD) $60/BBl $79.BBL $90/BBL 13.9% Govt of Alberta
Gas Price (USD) $3.75/NMBTU $4.00/NMBTU $6.00/NMBTU 50% Govt of Alberta
Calgary Employment Growth -1.4% 1.3% 2.0% .7% City of Calgary

 

The entire package with detailed explainations is availiable at CREB FORECAST. COM

If you have specific questions about this report or about the Market today please contact me directly.

Brought to you by Gord Piper and Associates.

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