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Calgary Real Estate Market Snapshot: July 1, 2022

Wednesday, July 6th, 2022

What is really happening in the Calgary Real Estate Market?

Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.

Months of Inventory

Gord’s commentary for the month (just my opinion).

June 2022 Highlights

Inventory Increased marginally
Sales decreased marginally
All sectors are still in a seller’s market position except Apartment Condos which are in a balanced market position.
Overall, we saw a marginal decrease in prices.

Calgary Listing Inventory

Listing inventory increased in all sectors combined by a total of 205 listings. Attached Row homes decreased by 32 while all other sectors increased.

Calgary Sales:

Sales in all categories decreased from May. The decrease for all sectors was only 229 less sales than May. The only sector that did not see a decrease is the Row Home sector and sales were even with last month.

Sales Compared to 2021:

Calgary home sales for June were just slightly lower than June of 2021. June sales this year were down by 72 over 2021 or 2.5%.

	Jan	Feb	Mar	Apr	May	June	July
2021	1207	1831	2903	3204	2981	2914
2022	2009	3305	4107	3401	3071	2842
Change	+ 802	1474	+1204	+197	90	-72
% Change	+ 66.4%	+180.5%	+141.5%	+1.06	+1.03%	2.5%

	Aug	Sept	Oct	Nov	Dec
2020	1574	1702	1763	1438	1199
2021	2151	2162	2186	2110	1737
Change	+577	+456	+ 423	+672	+538
% Change	136.6%	126.7%	123.9%	146.7%	144.9%

Calgary Real Estate Benchmark Sales Prices:

The benchmark price for all sectors combined decreased by $2100 for the month.

Calgary Real Estate Benchmark Year to Date Sales Price: See chart below.

Year to date all sectors have seen substantial increases with the highest increases being in the detached sector. See chart below for details.

Current Months of Inventory (Absorption Rate):

The months of continues to increase at a slow rate. Over all sectors, the months of Inventory increased by .21. The only sector bucking this trend is the Row House sector and it decreased marginally at .06.

What might the last half of 2022 bring: (again just my opinion)

Based on what I am seeing we are on our way towards a more balanced market. As noted above apartment condos have already entered balanced territory. If we keep up at the same pace, I estimate it will be September until we hit a balanced market position across the board. What is interesting is this is after mortgage rates went up which seems to be having little affect on the market so far. Time will tell, but Alberta’s economy seems to be doing much better and lots of people are moving to Calgary which may keep our market relatively strong compared to other parts of Canada.

Key Stats from the Calgary Real Estate Boards Stats Package.

Tags:2022, Absorption Rate Calgary, Calgary Condo Prices, Calgary Home Prices, Calgary Real Estate Market Snapshot, Market Snapshot July 1
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September 1st Calgary Real Estate Market Snapshot

Thursday, September 2nd, 2021

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two. We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector. Looking at a 2-year trendline gives you an indication of where things are really heading.

Graph shows 2 years of Months of Inventory for every sector in the Calgary housing market.

Gord’s commentary for the month (just my opinion).

August saw a decline in inventory of 9.36%, and a decline in sales of 7.24% causing our months of inventory to decline very slightly. Prices were mostly stable this month.

Calgary Listing Inventory

Typically, at this time of year, we see our inventory start to climb. This year that is not the case as our overall inventory declined by 625 listings. The majority of the decline (339) were in the Detached home sector. I believe the reason for this is there is still a pent-up demand and there are many people still shopping for that perfect home.

Calgary Sales:

Sales declined from July by a total of 168 fewer sales or 7.24%. The majority of this is in the Detached home sector losing 113. It is worth noting that typically sales show a decline from July to August so this is very normal.

Sales Compared to 2020:

Total sales were up by 36.6% over last year. It is important to note that August sales did not break a record like in July however sales were 25% higher than long-term trends. Normally this is a good category to watch however we are still comparing sales this year to when we were in a slower market due to Covid. As you can also see every month the sales over last years are declining and this is a normal trend.

	Jan	Feb	Mar	Apr	May	June
2020	861	1190	1175	573	1080	1763
2021	1208	1836	2903	3209	2989	2915
Change	+347	+646	+1729	+2639	1,911	1,152
% Change	+7.49	+54.4	247%	+562%	277.3%	165.3%

	July	Aug	Sept	Oct	Nov	Dec
2020	1835	1574	1702	1764	1437	1199
2021	2319	2151
Change	+484	+577
% Change	126.4%	136.6%

Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price in Calgary decreased in July by $500

Declines were seen in the Detached Home sector (-$1200) and the Apartment Condo sector (-$800)

Increases were in the Semi-Detached sector (+$1600) and in the Attached Row sector (+$1000)

You may wonder why prices decreased in the detached home sector when the Months of Inventory is still at 2.13 which is very much a seller’s market. I believe it’s because we have seen large increases in the last few months and things are slowing a little and settling down.

Calgary Real Estate Benchmark Sales Price: See chart below.

Current Months of Inventory (Absorption Rate):

The Months of inventory increased in the Semi-Detached sector and decreased marginally in all other sectors. For all sectors, combined Months of Inventory decreased by .07

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community, or more specific numbers for your home please contact us.

Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

Key Market Stats taken from the Calgary Real Estate Boards monthly stats package for Realtors.

Tags:Calgary Condo Market, Calgary Condo Prices, Calgary Real Estate Market, Calgary Real Estate Market Snapshot, calgary real estate prices
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Calgary Real Estate Market Snapshot for March 2021

Friday, April 2nd, 2021

What is really happening in the Calgary Real Estate Market?

Following is a graph that shows the months of inventory for each housing sector. Looking at a 2-year trendline gives you an indication of where things are really heading. As you can see at a glance all sectors except apartment condos are in a Seller’s market position.

2 Year Trendline

Gord’s commentary for the month (just my opinion).

The Calgary Real Estate Market continues to outpace last month and last year by hugh numbers. Up until March the sales increases were mostly in the detached sector but that is now creeping into other sectors as well.

Following are just my thoughts on the why:

Low-Interest Rates According to Rate Hub a 5-year mortgage can be had at 1.74% – Crazy Low.
According to data from ATB the Job losses have been in the lower wage groups. Higher wage jobs are in positive territory compared to a year ago.
There has recently been some positive news in the Oil & Gas Sector.
With Vaccine’s coming there is a little more of a positive vibe out there.

Calgary Listing Inventory

In March we saw the inventory for homes in all sectors increase marginally.

Calgary Sales:

Calgary Sales were the highest they have been since 2007. When compared to last month all sectors were up with detached homes leading the way at 66.16% increase. Semi-detached was 48.62%, Attached Row was 47.31% and Apartment Condos trailed at a 41.54%increase – which is still huge.

Sales Compared to 2020:

This is where it gets interesting. As you can see sales in March 2021 beat sales in March 2020 by 247.3%

Of course, we have to keep in mind that March 2020 we just started to see sales decreased due to covid.

	Jan	Feb	Mar	Apr	May	June	July	Aug	Sept	Oct	Nov	Dec
2020	861	1190	1175	573	1080	1747	1835	80	1702	1764	1437	1199
2021	1208	1836	2903
Change	+347	+646	+1729
% change	+7.49	+54.4	247.3%

Calgary Real Estate Benchmark Sales Prices:

Overall, the Benchmark Price for all sectors increased by $10,800. Detached homes increased by $13,800 (the largest) and the smallest which was Apartment Condos which still increased by $3,501. Detached homes year to date increased by 25,800 or 5.26%

Current Months of Inventory (Absorption Rate):

This is the key number, which determines what type of market we are currently in.

The months of inventory decreased in all housing sectors. From the smallest to largest decrease the change was:

Semi-Detached -.37 Sellers Market Territory

Detached – .42 Continues to be in Sellers Market Territory

Attached Row: -.76 Now in Sellers Market territory at 2.29 Months of Inventory

Apartment: – .89 Still in Buyer’s market territory

With the months of Inventory where they are, I can only predict that prices will continue to increase with possibly the exception of Apartment Condos.

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community, or more specific numbers for your home please contact us.

Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boars monthly Stats package.

All numbers are taken from the Calgary Real Estate Boards monthly Stats package for Realtors.

Tags:Calgary Condo Prices, Calgary Home Prices, Calgary Real Estate Market, Real Estate Snapshot for March 2021
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Calgary Real Estate Market Snapshot for Feburary 2021

Monday, March 1st, 2021

What is really happening in the Calgary Real Estate Market?

Following is a graph that shows the months of inventory for each housing sector. Looking at a 2-year trendline gives you an indication of where things are really heading.

2 year trend of Months of Inventory for the Calgary Real Estate market for all Housing Sectors.

Gord’s commentary for the month (just my opinion).

With Detached homes setting the pace the Calgary Real Estate Market is seeing sales numbers we have not seen since 2014. I have had a lot of people ask the question WHY?

Following are just my thoughts on the why:

Low-Interest Rates According to Rate Hub a 5-year mortgage can be had at 1.64% – Crazy Low.
According to data from ATB the Job losses Alberta has seen have been in the lower wage groups. Higher wage jobs are in positive territory compared to a year ago.
There has recently been some positive news in the Oil & Gas Sector.
With Vaccine’s coming there is a little more of a positive vibe out there.

Calgary Listing Inventory

We saw an increase in all Sectors in listing inventory. This is very normal and as we approach spring the listing inventory will continue to rise.

Calgary Sales:

Calgary Sales were the highest they have been since 2014. The highest increases were in

Attached Rowhomes: 73.33% increase over last February.

Detached homes 53.63% increase over last February.

Apartment Condo: 46.24% Increase over last February

Sales Compared to 2020:

This is where it gets interesting. As you can see sales in February 2021 beat sales in February 2020 by 54.4%

	Jan	Feb	Mar	Apr	May	June	July	Aug	Sept	Oct	Nov	Dec
2020	861	1190	1175	573	1080	1747	1835	80	1702	1764	1437	1199
2021	1208	1836
Change	+347	+646
% change	+7.49	+54.4

Calgary Real Estate Benchmark Sales Prices:

Overall, the Benchmark Price for all sectors increased by $8,800. Detached homes increased by $12,000 (the largest) and the smallest which was Apartment Condos which still increased by $2,899.

Current Months of Inventory (Absorption Rate):

The months of inventory decreased in all housing sectors. From the smallest to largest decrease the change was:

Semi-Detached -.38 Now in Seller Market Territory

Detached -.59 Now in Seller Market Territory

Attached Row: -1.6 Now in Balanced market territory.

Apartment: – 1.81 Still in Buyer’s market territory

Sales compared to last February are up by 54.4% so even though inventory is rising the increase in sales is much higher than the increase in listings pushing us to lower months of inventory and into a seller’s market for some sectors.

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community contact us.

Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boars monthly Stats package.

Stats from the Calgary Real Estate Board’s Monthly Stats package for February 2021

Tags:Calgary Condo market Snapshot, Calgary Condo Prices, Calgary Home Prices, Calgary Real Estate Market Snapshot
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Calgary Real Estate Market Snapshot Feb 1, 2021

Monday, February 1st, 2021

What is really happening in the Calgary Real Estate Market?

Following is a graph that shows the months of inventory for each housing sector. Looking at a 2-year trendline gives you an indication of where things are really heading. On the right it indicates if we are in a sellers or buyers market in that sector.

Graph shows 2 years on Months of Inventory for all sectors within the Calgary Real Estate Market.

Gord’s commentary for the month (just my opinion).

Calgary had another very busy month in the Real Estate world. It feels like we are in the spring market already. Sales of detached homes, especially in the lower price ranges are booming and we are seeing multiple offers. Currently in the single-family home sector what is holding people back from buying is the lack of inventory so they cannot find what they want.

COVID-19: Even though we are in a similar lockdown situation as we were in March there does not seem to be the same result in the market falling. I believe that the public is now aware of the many protocols Realtor’s have put in place to keep both Buyers and Sellers safe. On top of that, I believe people are seeing that there is a light at the end of the tunnel with the recent Vaccine announcements.

Calgary Listing Inventory

Every housing sector saw an increase in Inventory, and this is to be expectedin January. In November/December people often hold off for the holiday season and are now listing.

Calgary Sales:

Overall Calgary sales increased in January over December but only by a small margin. The only sector that saw a decrease was the Attached-Row Sector and sales were only down by 19.

Sales Compared to 2020:

This is where it gets interesting. January saw 347 more sales than in January of 2020. This makes me believe that there is still a pent-up demand and with the interest rate so low we are going to see some higher numbers this year than we have seen in a while.

	Jan	Feb	Mar	Apr	May	June	July	Aug	Sept	Oct	Nov	Dec
2020	861	1195	1175	573	1080	1747	1835	80	1702	1764	1437	1199
2021	1208
Change	+347
% change	+7.49

Calgary Real Estate Benchmark Sales Prices:

Overall, the Benchmark Price for all sectors increased by $1500. All sectors showed an increase except Semi-Detached which showed a small decrease of 2,000.

Current Months of Inventory (Absorption Rate):

The months of Inventory increased marginally in all Sectors except the Semi-Detached sector where months of inventory declined by .13.

Detached homes at 2.17 put us solidly into a seller’s market.

Semi-Detached is at 2.53 so borderline between Sellers and Balanced market position.

Attached Row and Apartment sectors are both in Buyer’s Market positions with 4.65 and 7.08 Months of Inventory respectively.

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community contact us.

Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boars monthly Stats package.

CREB Stats for January of 2021

Tags:2021, Calgary Condo Market, Calgary Condo Prices, Calgary House Prices, Calgary Housing Market, Calgary Real Estate Boards Monthly Stats., Market Snapshot Feb 1
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Calgary Real Estate Board announces Forecast for 2021

Wednesday, January 27th, 2021

Welcome to the Calgary Real Estate Board’s forecast for 2021.

2021 Calgary and Area Real estate Market Prediction

Media release: Modest gains in Calgary housing market expected in 2021

Calgary, Jan. 26, 2021 – In 2020, housing markets across the country surprised many with a stronger-than-expected rebound in the second half of the year despite record-high unemployment rates and significant job losses.

Calgary did not hit record-high sales or prices in the third or fourth quarters, but still posted some of the strongest sales relative to the past five years. This was nearly enough to offset the initial losses recorded during the first shutdown caused by the pandemic.

“It is expected some of the momentum recorded at the end of 2020 will continue into 2021, fueled by exceptionally low lending rates and pent-up demand,” said Ann-Marie Lurie, CREB^® Chief Economist.

“While sales are expected to rise by nearly five per cent on an annual basis in 2021, persistent economic challenges are expected to prevent stronger growth in our housing market.”

Reduction in supply relative to sales is the primary reason the Calgary housing market returned to more balanced conditions by the end of 2020. The pullback in new listings relative to sales activity resulted in inventory levels falling to the lowest levels seen in the past several years.

As we move into 2021, we anticipate new listings will start to rise, as COVID-19 likely caused many homeowners to delay listing their homes. We could start to see some supply come back in 2021, as concerns regarding the spread of the virus ease. Persistently high unemployment rates could also weigh on some existing homeowners who may need to sell their homes.

Growth in supply is expected to offset some of the gains in sales, pushing our market to the upper bounds of balanced conditions and slowing price recovery. However, the price gains that occurred at the end of 2020 are not expected to be eroded and 2021 annual prices are forecasted to improve by over one per cent.

“This year has been filled with twists and turns all over the world. The Calgary housing market was no exception,” said Alan Tennant, CREB^® President and CEO.

“However, our local REALTORS^® continued to serve at a high level by connecting homebuyers and sellers through this difficult period in a safe and timely manner.”

Click here for the full 2021 Economic Outlook and Regional Housing Market Forecast report.

Tags:Calgary Real Estate forecast 2021, Calgary Real Estate Predictions, CREB Annual Forecast 2021
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Calgary Real Estate Market Snapshot: Jan 2021

Monday, January 4th, 2021

What is really happening in the Calgary Real Estate Market?

The market is simply a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two. We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector. Looking at a 2-year trendline gives you and indication of where things are really heading.

Months of Listing Inventory

Following is a summary of what I deem to be the most important numbers. Again, we look at Total Inventory, Sales for the past 30 days, Months of Inventory and of course the benchmark price. All numbers are taken from the Calgary Real Estate boards monthly stats package.

Show Listing inventory, Sales, and Benchmark prices for all sectors of the Calgary Real Estate Market.

Gord’s commentary for the month (just my opinion).

Listing inventory decreased by 27% in all Sectors combined while sales also decreased but by only 16.5% from November lowering our months of Inventory and putting Detached and Semi-Detached homes into a seller’s market position.

Covid: Even though we are in a similar lockdown situation as we were in March there does not seem to be the same result in the market falling. I believe that the public is now aware of the many protocols Realtor’s have put in place to keep both Buyers and Sellers safe. On top of that I believe people are seeing that there is a light at the end of the tunnel with the recent Vaccine announcements.

Calgary Listing Inventory

Listing inventory decreased by 27% in all Sectors combined which is a normal trend for this time of year. How many people really want their home listed during the holiday season. by which is 100% normal for the Holiday Season.

Calgary Sales:

Sales in all sectors dropped in December compared to November – again 100 % normal for December as peoples focus turns on Christmas and away from Real Estate. It is worth noting that compared to last December sales are up by over 40%.

Sales Compared to 2019:

It is critical to note that in all my other numbers I look at month over month. This chart below shows us the numbers this year compared to last year. Although December sales slowed, we were still 343 sales higher than last year or 40.7% higher.

	Jan	Feb	Mar	Apr	May	June	July	Aug	Sept	Oct	Nov	Dec
2019	801	973	1327	1544	1915	1775	1642	1580	1365	1438	1146	858
2020	861	1195	1175	573	1080	1747	1835	80	1702	1764	1437	1199
Change	+60	+222	-152	-971	-835	-28	+194	-7	337	+326	+327	+343
% change	+7.49	+22.8	-11.4	-62.8	-45.5	-1.6	+11.82%	N/A	24.87%	+22.67%	+25.4%	=40.7

Calgary Year to Date Sales

2019: 16,344 Sales

2020: 16,152 Sales

Therefore, at the end of the Year sales are down only 1.17% from 2019.

Calgary Real Estate Benchmark Sales Prices:

All sectors decreased slightly from last month. Decreases were from $1,300 to $1,800 so very marginal.

Calgary Real Estate Sales Prices Year to Date: 2020

Detached homes increased by $10,400

Semi-Detached homes decreased by $800

Attached Row houses decreased by $2,500

Apartment Condos decreased by $4,800

Current Months of Inventory (Absorption Rate):

The months of Inventory decreased in all Sectors. December saw a large decrease in listings and saw a small decrease in sales. We are moving into Sellers Market territory in the Detached and Semi-Detached sectors. Attached Row and Apartment Condo are still in strong Buyers Market Conditions.

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community contact us.

Tags:2021, Calgary Condo Prices, Calgary Home Prices, Calgary Housing Market, Calgary Real Estate Market Snapshot for Jan 1, Northwest Calgary Real Estate Prices
Posted in Blog, Home Sellers, Market Snapshot, Property Values, Real Estate Board's Statistics | Comments Closed

Calgary Real Estate Market Snapshot – Dec 1, 2020

Tuesday, December 1st, 2020

What is really happening in the Calgary Real Estate Market?

Following is a graph that shows the months of inventory for each housing sector. Looking at a 2-year trendline gives you and indication of where things are really heading.

2 Year Graph showing months of Inventory.

Calgary Real Estate Board Stats

Gord’s commentary for the month (just my opinion).

Calgary Listing Inventory

Our total listing inventory dropped in all sectors with inventory decreasing by 805 listings or a 13.8% drop from October. This is simply a normal seasonal adjustment and we can expect listings to drop further through December.

Calgary Sales:

November sales decreased in all sectors. The largest drop was in detached homes and it dropped by 256 sales or 22.48% from October. The total decrease was 327 sales less or a decrease of 18.54%. As with inventory, sales declining in November is strictly a seasonal adjustment and we will see a further decline in December.

Sales Compared to 2019:

It is critical to note that in all my other numbers I look at month over month. This chart below shows us the numbers this year compared to last year. Although November sales slowed, we were still 327 sales higher than last year or 25.4% higher.

	Jan	Feb	Mar	Apr	May	June	July	Aug	Sept	Oct	Nov	Dec
2019	801	973	1327	1544	1915	1775	1642	1580	1365	1438	1146	858
2020	861	1195	1175	573	1080	1747	1835	80	1702	1764	1437
Change	+60	+222	-152	-971	-835	-28	+194	-7	337	+326	+327
% change	+7.49	+22.8	-11.4	-62.8	-45.5	-1.6	+11.82%	N/A	24.87%	+22.67%	+25.4%

Calgary Real Estate Benchmark Sales Prices:

For the 4^th month in a row we saw the Benchmark Sales price in Calgary increase. The overall increase was $3,600. All sectors except Apartment Condos increased. Apartment Condo sector decreased by $3,200.

Calgary Real Estate Sales Prices Year to Date

Since the beginning of the year

Detached homes increased by $11,900

Semi-Detached homes increased by $1,000

Attached Row houses decreased by $800.

Apartment Condos decreased by $3,000

Current Months of Inventory (Absorption Rate):

The months of Inventory decreased in Semi-detached homes by .24

Every other sector saw a small increase in the Months of Inventory.

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community contact us. For example, many communities if I look at listings under $500,000. they are showing being in a Sellers Market position and are getting competing offers.

Tags:Calgary Condo Prices, Calgary Condo Stats, Calgary Home Prices, Calgary Housing Absorption Rate, Calgary Housing Stats, Calgary Real Estate Board Stats
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Calgary Real Estate Market Snapshot for July 2020

Tuesday, August 4th, 2020

Amazingly the Calgary Real Estate Market has recovered from Covid.

What is really happening in the Calgary Real Estate Market?

Following is a graph that shows the months of inventory for each housing sector. Looking at a 2-year trendline gives you and indication of where things are really heading.

Months of Inventory – Graph shows the 2 year trend of Months of Inventory for all housing categories in the Calgary Real Estate Market.

Calgary Real Estate Stats

Gord’s commentary for the month (just my opinion).

Well, we seem to have returned to a more normal market. July’s sales outpaced 2019 July Sales by 6.56% and that was after a slower start in July.

Calgary Listing Inventory

Inventory in all sectors except Semi-Attached increased this month. The largest increases were in the Detached and Apartment Sectors which each grew by 170 listing. Listings in the Semi-Detached sector declined by 30 listings.

Calgary Sales:

July’s sales increased in all sectors except Attached Row homes where sales were 40 less.

Overall sales increased by 88 listings or 5.04%. In my opinion this is very good as sales in the first few weeks were slower.

Sales Compared to 2019:

It is critical to note that in all my other numbers I look at month over month. This shows us the numbers this year compared too last year. As you can see July’s sales beat last year by 194 sales or 11.82%. As a Realtor, it almost feels like July was the start of our Spring market even seeing lots of multiple offers. I will not predict how long this trend will last.

	Jan	Feb	Mar	Apr	May	June	July	Aug	Sept	Oct	Nov	Dec
2019	801	973	1327	1544	1915	1775	1642	1574	1365	1440	1146	858
2020	861	1195	1175	573	1080	1747	1835
Change	+60	+222	-152	-971	-835	-28	+194
% change	+7.49	+22.8	-11.4	-62.8	-45.5	-1.6	+11.82%

Calgary Real Estate Benchmark Sales Prices: Some increases are nice to see.

Detached homes increased by $11,000

Semi-Detached Increased by $5,700

Attached Row decreased by $3,700

Apartment Condos Increased by $2,500

Total Market increased by $6,700

Calgary Real Estate Sales Prices Year to Date

For the year Semi-Detached have now seen an increase of $3300.

All other sectors are still in negative territory with Attached Row homes seeing the largest decrease at $12,200.

Current Months of Inventory (Absorption Rate):

Detached, Semi-Detached are both sitting in a balanced market position while Attached-Row and Apartment condos are both sitting in a buyer’s market position.

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community contact us. For example, many communities if I look at listings under $500,000, they are showing being in a Sellers Market position.

Tags:Calgary Condo Prices, Calgary Housing Prices, Calgary Real Estate Market Snapshot, Calgary Real Estate Market Update, Calgary Real Estate Stats for July 2020
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Calgary Real Estate Market Snapshot June 1, 2020

Tuesday, June 2nd, 2020

Following is a graph that shows the months of inventory for each Sector. Looking at a 2-year trendline gives you and indication of where things are really heading.

Shows the absorption rate for every sector in the Calgary Real Estate market for the last 2 years.

Absorption Rate Graph

Key Stats from the Calgary Real Estate Board.

Gord’s commentary for the month (just my opinion).

Its been another interesting month in the Calgary market during this Covid 19 time.

An optimist would say we gained 88.5% on sales (from last month)

A pessimist would say were down 45.5% (from last year)

Calgary Listing Inventory

Typically, May is the start of the spring market and that means increased listings. In May we increased our listing inventory from 5576 to 5813, only an increase of 237 listings. This small increase is good news and is helping us hold the value of homes.

Calgary Sales:

Wow, what a change Sales in May increased by 88.5% over April. All categories increased over 80% except apartment condos and they increased by 44.2%.

Sales Compared to 2019:

It is critical to note that in all my other numbers I look at month over month. This shows us the numbers this year compared too last year. So, although the market saw a huge improvement in May we are still down 45.5% from last year in May, meaning we have a long way to go.

Calgary Real Estate Sales Prices:

As one would expect we did see price decreases in all sectors of between $1,800 (Condos) To $4,800 (detached homes) except for Semi-Detached homes which increased by $2000

Calgary Real Estate Sales Prices Year to Date

Every sector has seen a decrease in Year to Date Benchmark price – the smallest decrease being in the Semi-Detached sector with a loss of $600. All other sectors saw decreases of between $5,800 to $8,600. The Total decrease across all sectors is -$6,900 or 1.65

Current Months of Inventory (Absorption Rate):

In May, all sectors decreased the absorption rate drastically. This is mainly driven by our inventory holding, Decreases were between -3.8 to -4.95

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community contact us.

Tags:Calgary Condo Prices, Calgary Home Prices, Calgary Real Estate Market Snapshot
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The Gord Piper & Associates Real Estate Blog

Archive for the ‘Real Estate Board’s Statistics’ Category

Calgary Real Estate Market Snapshot: July 1, 2022

September 1st Calgary Real Estate Market Snapshot

Calgary Real Estate Market Snapshot for March 2021

Calgary Real Estate Market Snapshot for Feburary 2021

Calgary Real Estate Market Snapshot Feb 1, 2021

Calgary Real Estate Board announces Forecast for 2021

Calgary Real Estate Market Snapshot: Jan 2021

Calgary Real Estate Market Snapshot – Dec 1, 2020

Calgary Real Estate Market Snapshot for July 2020

Calgary Real Estate Market Snapshot June 1, 2020

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