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Calgary Real Estate Market Snapshot – Dec 1, 2020

Tuesday, December 1st, 2020

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.

2 Year Graph showing months of 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.

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 4th 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.

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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?

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

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.

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.

 

 

 

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Calgary Real Estate Market Snapshot June 1, 2020

Tuesday, June 2nd, 2020

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 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

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.

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.

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Covid 19 affect on the Calgary Real Estate Market

Wednesday, April 1st, 2020

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 Sector.  Looking at a 2-year trendline gives you and indication of where things are really heading.

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

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.

 

CREB Stats for March 2020

 

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

 

First and Most importantly to really understand what is happening it is critical for you to be clear on two things.

  1. Once a home receives an offer there is a delay of 5 to 10 days for the buyers to remove their conditions such as financing, home inspection etc. What this means is listings that are reported sold today actually got sold between 5 to 10 days ago resulting in what I call a lag time.  In a normal market this does not greatly affect stats but when sales are rapidly declining like they have been this in my opinion becomes important.
  2. The Covid-19 actions for social distancing did not start until part way through the month and they got stronger as the month progressed.

 

Current Months of Inventory (Absorption Rate): 

In March the overall months of inventory increased slightly. Increases were seen in Detached (.23) Semi-Detached (1.22) and Attached Row (.67) sectors while the absorption rate decreased in the Apartment Condo sector (.33).

Calgary Listing Inventory

Listing Inventory increased slightly where with the largest increase being in Detached homes with an increase of 175. Typically, in March we would see a large increase in listings.  With Covid-19 we are seeing some Seller’s withdraw their listings as they do not want people coming through their home currently. Other sellers are just not listing yet.

Calgary Sales:

I am a little surprised that in March we sold only 21 homes less than in February.  This in my opinion is a result the sales lag and Covid hitting mid month.  You will see a much steeper drop in April.

Sales Compared to 2019:

Sales in all sectors for January 2020 were 7.6% higher than in January 2019.

Sales in all sectors for February 2020 were 23% higher than in February 2019.

Sales in all sectors for March 2020 were 88.7% on Sales in March 2019 – 12.3% Lower

 

Calgary Real Estate Sales Prices:

Prices increased in Detached and Semi-Detached sectors while decreasing in the Attached-Row and Apartment Sectors. The changes were minor except for the Apartment condo sector losing $5,100.

 

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

 

 

 

 

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What’s Really happening in the Calgary Real Estate Market?

Monday, March 2nd, 2020

What’s 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 Sector.  Looking at a 2-year trendline gives you and indication of where things are really heading.

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

 

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.

Data from Calgary Real Estate Board’s Monthly Calgary Stats package.

 

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

 

Current Months of Inventory (Absorption Rate): 

In February our absorption rate dropped quite substantially.  If you look at the graph above Last year (2019) after Jan the absorption rate dropped slowly every month till June.   February dropped significantly is down to the equivalent to May last year.  The highest decrease was in Detached homes which are now in a balanced market at 3.85 months of Inventory.

 

Calgary Listing Inventory

Inventory increased in every sector in February.  The largest increase was in Attached Row Homes at 10.28%.  Inventory increasing at this time of year is expected.  Total Increase was 8.7%.

 

Calgary Sales:

Sales in all sectors increased substantially in February.  Lowest % increase was 32.5% of detached homes and the highest increase was Semi-Detached at 65.88%.  Total Sales increase was 38.7%

Obviously, the sales increase is much larger than the inventory increases thus the months of inventory decrease.

 

Sales Compared to 2019:

Sales in all sectors for January 2020 were 7.6% higher than in January 2019.

Sales in all sectors for February 2020 were 23% higher than in February 2019.

 

 

Calgary Real Estate Sales Prices:

Prices in all sectors declined a little this month.  The lowest decrease was in the Detached home sector at a decrease of .1% and the largest decline was in the Attached-Row Sector with a decrease of .67%

 

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

 

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What’s really happening in the Calgary Real Estate Market?

Tuesday, February 4th, 2020

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 Sector.  Looking at a 2 year trendline gives you and indication of where things are really heading.

Calgary Real Estate Board  Summary of Key Stats

 

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.

Key Stats for the Calgary Real Estate Market

 

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

 

Current Months of Inventory (Absorption Rate): 

Through January our Absorption rate increased for all housing sectors. The smallest increase was in the detached sector at +.25 and the largest was in the Attached Row Sector at +1.34

This means the listing increase is outpacing the sales increase  and it is putting us in a stronger buyers market for all sectors.

Calgary Listing Inventory

Inventory increased in every sector in January.  Most sectors increased somewhat equally except the Apartment condo sector that increased by 16.1% compared to the total increase of 11.6%

Increasing inventory is normal as many people wait till the holidays are over to list.  This is a trend that we expect to see for the next several months.

 Calgary Sales:

Sales in Detached homes and Apartment Condos increased marginally over December which is a normal trend.  Sales in the Semi-Detached and Attached Row homes declined ever so slightly. We also had about 10 Days of bitter weather which keeps buyers indoors.

Sales Compared to 2018:

Sales in all sectors increased over 2018 for a total increase of 8% over 2019.

 Calgary Real Estate Sales Prices:

Prices in all sectors declined a little this month.  The lowest decrease was in the Detached home sector and the largest decline was in the Apartment Condo Sector

Calgary Real Estate Benchmark Prices Year to Date – Same as for the month.

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

 

 

 

 

 

 

 

 

 

 

 

 

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What’s happening in the Calgary Real Estate Market?

Monday, December 2nd, 2019

What is really happening in the Calgary Real Estate Market?

 

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

  

Current Report: December 1, 2019

Below see all the stats (Info taken from the Calgary Real Estate Boards Monthly Stats Package.

Gord’s Commentary 

A few comments on this month. 

Overall the market softened a little in November.

 Current Months of Inventory (Absorption Rate): 

November saw a different picture for each Sector although they all saw increases:

Detached homes increased by .14

Semi-Detached increased by 1.37

Attached Row increased by .88

Apartment increased by 1.61

Total Market increased by .56

Calgary Listing Inventory

Calgary listing inventory decreased in all sectors this month for a total of 635 listings less than one month ago. The largest decrease came in the Detached Sector with a decrease of 463 listings. Typically, this is the trend we will see until the end of the year.

Calgary Sales:

Sales for November decreased 287 or 19.83% down from October sales.  Every sector decreased a little with the largest decrease being in the Detached sector of 142 less.  Sales decreasing in November is a very typical for the month.

Sales Compared to 2018: 

November Sales were 98.9% of last years sales so we are down by only 12 sales from November 2018.

 Calgary Real Estate Sales Prices:

Prices for Detached homes showed an increase in Benchmark price of $100.  Semi-Detached, Attached Row, and Apartments all saw decreased this month.

Semi-detached decreased by 7,100

Attached Row decreased by 6,700

Apartment Condos decreased by 3,600

 

Months of Inventory/Absorption Rate: What does this mean you might ask?

The inventory divided by the number of sales in the last month).

 

**Please note that these numbers include only Calgary and do change on a community basis, and more so for towns. This report does not include rural properties and does not consider differences in different price ranges.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or about Real Estate in general, please feel free to contact us.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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What is really happening in the Calgary Real Estate Market?

Friday, November 1st, 2019

Calgary Real Estate Market Snapshot at a glance!

This graph shows the 2 year trend of months of Inventory for all sectors in the Calgary Real Estate Market.

Notice this month how everything trended downwards making it a stronger market.

Current Report: November 1, 2019

 A slightly new format this month and moving forward due to technology challenges with reading the graphs on a cell phone.  This should help.

Below see all the stats (Info taken from the Calgary Real Estate Boards Monthly Stats Package.

 

Just a few comments on this month – These are my comments and my opinions. 

 It’s interesting how we are bucking the trend and October saw a stronger market in all Sectors.

 Current Months of Inventory (Absorption Rate): 

The good news is that we reversed what we lost in momentum last month. This month every sector saw a decline in the months of inventory (Absorption Rate) with the lowest decrease being Detached homes at -.39 and the largest with Attached Row homes at -.95.

Once again Detached homes moved into a balanced Market Position.

Calgary Listing Inventory

Calgary listing Inventory decreased in all sectors this month for a total of 396 listings less than one months ago. Typically, this is the trend we will see until the end of the year.

 Calgary Sales:

Sales for October increased over September sales.  Every sector increased a little for an increase of 76 sales over September.  While this in not a big number it is substantial as typically October sees less sales than September.

Sales Compared to 2018: 

October Sales compared to last year were 9.6% higher.

Last month we were 8.2% higher so this is a very good trend and hope it continues.

 Calgary Real Estate Sales Prices:

Prices for Detached homes, Attached Row Homes declined by $3,200 and $2,700 respectively.

Prices for Semi- detached remained flat while Apartment Condos increased by $2,600

Months of Inventory/Absorption Rate: What does this mean you might ask?

The inventory divided by the number of sales in the last month).

 **Please note that these numbers include only Calgary and do change on a community basis, and more so for towns.  This report does not include rural properties and does not consider differences in different price ranges.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or about Real Estate in general, please feel free to contact us.

 

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Calgary Real Estate Market Snapshot – May 1, 2019

Thursday, May 2nd, 2019

What is really happening in the Calgary Real Estate Market?

Current Months of Inventory: 

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

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

 

Calgary Listing Inventory

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

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

 

Calgary Sales:

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

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

 

 ***Sales Compared to last year***

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

  Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2018 102% 82% 72% 80% 82% 89% 95% 93% 85.9% 89.9% 83.0 78.6
2019 83.8% 89.6% 97.1% 102.2%

 

Calgary Real Estate Sales Prices:

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

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

 

Sales Prices “Year to Date”  

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

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

$

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

  

Explanation of our Calgary Real Estate Market Snapshot.

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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

Months of Inventory/Absorption Rate – the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

  

**Please note that these numbers include only Calgary and do change on a community basis, and more so for towns.  This report does not include rural properties and does not consider differences in different price ranges.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or about Real Estate in general, please feel free to contact us.

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March 1, 2019 Calgary Real Estate Market Snapshot

Friday, March 1st, 2019

What is really happening in the Calgary Real Estate Market?

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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

Months of Inventory/Absorption Rate – the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

Current Report:  March 1, 2019

This graph shows the 2 year Trend of the number of months of inventory for a housing sectors.

Graph shows the 2 year trend of months of Inventory of all sectors of homes in the Calgary Market.

Current Months of Inventory: 

In February our months of inventory decreased in every housing sector in Calgary.  Although we are certainly in a Buyer’s market this month all sectors moved toward a more balanced market which in my opinion is a great sign.

End of Jan 2019 Feb 2019 Change
Detached 5.83 5.04 -0.79
Semi Detached 7.64 6.63 -1.01
Attached – Row 7.64 6.98 -0.65
Apartment 9.31 8.73 -0.58
Total City 6.81 6.03 -0.78

 

 Calgary Listing Inventory

In February our months of inventory increased in all categories.  This increase is totally expected as we move further away from the holiday season.

Inventory (End of) Jan 2019 Feb 2019 Change
 Detached 2834 2987 153
Semi Detached 649 689 40
Attached – Row 817 908 91
Apartment 1173 1301 128
Total Calgary 5473 5885 412

 

 Calgary Sales:

Sales for February increased in all sectors compared to January.   Although the increase was not substantial it is good to see a change of direction.

Calgary Sales  Jan 2019 Feb 2019 Change % Change
Detached 486 593 107 22.02%
Semi Detached 85 104 19 22.35%
Attached – Row 107 130 23 21.50%
Apartment 126 149 23 18.25%
Total City 804 976 172 21.39%

 

***Sales Compared to last year***

In Feb our sales were 89.6% of last years sales so a decrease of 10.4%.  This trend in my opinion is expected to continue until our economy and consumer confidence change direction.  I am also starting to see and hear from clients who are getting ready to take advantage of the low prices which may kickstart things a little.

  Jan Feb Mar Apr May June July Aug Sept Oct Nov  Dec
2018 102% 82% 72% 80% 82% 89% 95% 93% 85.9% 89.9% 83.0 78.6
2019 83.8% 89.6%

 

Calgary Real Estate Sales Prices:

February saw a very small decrease in prices in detached and Semi-Detached homes.   Attached (Row) houses and Apartment condos showed a slight gain.  Based on our absorption rate (months of inventory) we can expect prices to continue to trend downward.

  Sales Prices Jan 2018     Benchmark Price  Feb 2019   Benchmark Price Change
Detached 476,500 475,600 -900
Semi Detached 393,100 392,500 -600
Attached – Row 284,300 284,600 300
Apartment 251,300 252,300 1,000
Total City 414,800 414,400 -400

 

 Sales Prices “Year to Date”  

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

$

% Change
Detached 481,400 475,600 -5,800 -1.20%
Semi Detached 397,500 392,500 -5,000 -1.26%
Attached – Row 288,400 284,600 -3,800 -1.32%
Apartment 251,500 252,300 800 0.32%
Total City 418,500 414,400 -4,100 -0.98%

 **Please note that these numbers include only Calgary and do change on a community basis and more so for towns. This report does not include rural properties and does not take into account differences in different price ranges.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or about Real Estate in general, please feel free to contact us.

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Posted in Blog, calgary realtor, Home Sellers, Real Estate Board's Statistics | Comments Closed

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