Every year the Calgary Real Estate Boards Economist prepares a detailed report forecasting what she believes will happen in the Calgary and area Real Estate market. What I find best about the report is it shows the why and really puts things in perspective.
For your copy click here, and I will email you a copy of the 2019 report.
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: Feb 1, 2019
Current Months of Inventory:
In January our months of inventory increased in all categories except Apartment Condo’s which decreased a little. This puts every segment of the market into a substantial buyers market.
| End of | December 2018 | January 2019 | Change |
| Detached | 5.23 | 5.83 | 0.60 |
| Semi Detached | 6.50 | 7.64 | 1.14 |
| Attached – Row | 6.81 | 7.64 | 0.83 |
| Apartment | 9.69 | 9.31 | -0.38 |
| Total City | 6.16 | 6.81 | 0.65 |
Calgary Listing Inventory
In January our months of inventory increased in all categories. An increase of inventory in January is 100% expected as many people do not want to sell over the holidays and wait until Jan.
| Inventory | December 2018 | January 2019 | Change |
| Detached | 2598 | 2834 | 236 |
| Semi Detached | 572 | 649 | 77 |
| Attached – Row | 715 | 817 | 102 |
| Apartment | 1027 | 1173 | 146 |
| Total Calgary | 4904 | 5473 | 569 |
Calgary Sales:
Sales for January were almost equal to December’s sales. In my opinion this is not a good sign as sales in January should be starting to pick up.
| Calgary Sales | December 2018 | January 2019 | Change | % Change |
| Detached | 497 | 486 | -11 | -2.21% |
| Semi Detached | 88 | 85 | -3 | -3.41% |
| Attached – Row | 105 | 107 | 2 | 1.90% |
| Apartment | 106 | 126 | 20 | 18.87% |
| Total City | 796 | 804 | 8 | 1.01% |
***Sales Compared to last year***
Although only doing 83.8% of last years sales sounds terrible if we look at the numbers from last year Jan sales equaled the year before – ie: The big decrease in sales started in February 2018. Therefore I would predict that starting in February sales should be close to last years.
| 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% |
Calgary Real Estate Sales Prices:
December saw prices decrease in all sectors with the largest decrease being in the Detached home sector. This is expected with the high number of months of inventory on the market. Unless something changes we can expect to see this trend for a few more months.
| Sales Prices | Dec 2018 Benchmark Price | Jan 2019 Benchmark Price | Change |
| Detached | 481,400 | 476,500 | -4,900 |
| Semi Detached | 397,500 | 393,100 | -4,400 |
| Attached – Row | 288,400 | 284,300 | -4,100 |
| Apartment | 251,500 | 251,300 | -200 |
| Total City | 418,500 | 414,800 | -3,700 |
Sales Prices “Year to Date”
Numbers are same as above for this month only!
| Sales Prices | Jan 1, 2018 Benchmark Price | Feb 1, 2019 Benchmark Price | Change
$ |
% Change |
| Detached | 481,400 | 476,500 | -4,900 | -1.02% |
| Semi Detached | 397,500 | 393,100 | -4,400 | -1.11% |
| Attached – Row | 288,400 | 284,300 | -4,100 | -1.42% |
| Apartment | 251,500 | 251,300 | -200 | -0.08% |
| Total City | 418,500 | 414,800 | -3,700 | -0.88% |
**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.
What is really happening in the Calgary Real Estate Market?
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/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 Months of Inventory: If we did not list any more homes this is how many months it would take to deplete inventory. In November there were some ups and some downs with the most significant being the Apartment Condo sector that went from 7.12 months to 5.49 months, which is a significant drop and is now the lowest Apartment Condos have been in well over a year. One month does not make a trend and I speculate that this is largely do to listings expiring and people are leaving them off till the new year. All categories are still in a “Buyers Market” position.
| End of | Oct 2018 | Nov 2018 | Change |
| Detached | 4.80 | 5.14 | 0.35 |
| Semi Detached | 6.53 | 6.94 | 0.40 |
| Attached – Row | 6.59 | 6.56 | -0.04 |
| Apartment | 7.12 | 5.49 | -1.63 |
| Total City | 5.56 | 5.55 | -0.01 |
Calgary Listing Inventory
In November, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector followed by the Apartment Condo sector. This is normal at this time of year and we should expect this trend to continue for the rest of the year as consumers move their focus to Christmas.
| Inventory | Oct 2018 | Nov 2018 | Change |
| Detached | 3976 | 3491 | -485 |
| Semi Detached | 823 | 749 | -74 |
| Attached – Row | 1009 | 944 | -65 |
| Apartment | 1509 | 1317 | -192 |
| Total Calgary | 7345 | 6501 | -844 |
Calgary Sales:
In November we saw a slight increase in Sales in the Apartment Condo Sector over last month while other sectors saw a decrease in sales. Sales decreasing at this time of year is normal with Christmas approaching.
| Calgary Sales | Oct 2018 | Nov 2018 | Change | % Change |
| Detached | 829 | 679 | -150 | -18.09% |
| Semi Detached | 126 | 108 | -18 | -14.29% |
| Attached – Row | 153 | 144 | -9 | -5.88% |
| Apartment | 212 | 240 | 28 | 13.21% |
| Total City | 1322 | 1171 | -151 | -11.42% |
***Sales Compared to last year:
As you can see from the chart below comparing sales to last year there have been some substantial changes. In the first half of the year we were trending up and in the last 6 months we are trending down rather quickly. My belief is that this is due to the Economic conditions in Calgary and declining consumer confidence.
| Jan | Feb | Mar | Apr | May | June | July | Aug | Sept | Oct | Nov | Dec |
| 102% | 82% | 72% | 80% | 82% | 89% | 95% | 93% | 85.9% | 89.9% | 83.0 |
Calgary Real Estate Sales Prices:
November saw prices decrease in all sectors with the largest decrease being in the Detached home sector. This is expected with the high number of months of inventory on the market. Unless something changes we can expect to see this trend for a few more months.
| Sales Prices | Oct 2018 Benchmark Price | Nov 2018 Benchmark Price | Change |
| Detached | 490,200 | 486,000 | -4,200 |
| Semi Detached | 403,400 | 400,700 | -2,700 |
| Attached – Row | 293,400 | 292,900 | -500 |
| Apartment | 257,200 | 252,800 | -4,400 |
| Total City | 426,300 | 422,600 | -3,700 |
Sales Prices “Year to Date”
| Sales Prices | Jan 1, 2018 Benchmark Price | Nov 2018 Benchmark Price | Change
$ |
% Change |
| Detached | 499,600 | 486,000 | -13,600 | -2.72% |
| Semi Detached | 416,600 | 400,700 | -15,900 | -3.82% |
| Attached – Row | 299,500 | 292,900 | -6,600 | -2.20% |
| Apartment | 257,700 | 252,800 | -4,900 | -1.90% |
| Total City | 433,200 | 422,600 | -10,600 | -2.45% |
**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns. This report does not include rural properties 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 TSW Real Estate Group here.
What is really happening in the Calgary Real Estate Market?
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/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 |
Watch the Trend
On the above graph it is important to see the trends – As you can see the apartment condo absorption rate is has been trending down however in July it reversed and when back up.
Current Months of Inventory: If we did not list any more homes this is how many months it would take to deplete inventory.
In July the months of inventory increased in every Category. If you have been following my monthly snapshot you will notice that most months when this changes it changes only a little where this month the numbers have increased substantially. This change puts us deep into a Buyer’s market in every category.
| End of | June 2018 | July 2018 | Change |
| Detached | 3.98 | 4.72 | 0.74 |
| Semi Detached | 5.04 | 6.07 | 1.04 |
| Attached – Row | 5.73 | 6.78 | 1.05 |
| Apartment | 6.41 | 7.01 | 0.60 |
| Total City | 4.65 | 5.46 | 0.81 |
Calgary Listing Inventory
In July, our inventory decreased increased in all sectors and overall. This is totally normal at this time of year and we should expect this trend to continue for the rest of the year.
| Inventory | June 2018 | July 2018 | Change |
| Detached | 4817 | 4578 | -239 |
| Semi Detached | 922 | 911 | -11 |
| Attached – Row | 1209 | 1187 | -22 |
| Apartment | 1872 | 1774 | -98 |
| Total Calgary | 8820 | 8450 | -370 |
Calgary Sales:
Sales were down in all categories and again this is normal for July as this is moving out of our busy season when people are focused on vacations and outdoor activities.
Sales Compared to last year: Of interest if we compare to last year Sales in June we were 11.3% down from last year while July we were down only 4.8% from last year – a big improvement.
| Calgary Sales | June 2018 | July 2018 | Change | % Change |
| Detached | 1210 | 969 | -241 | -19.92% |
| Semi Detached | 183 | 150 | -33 | -18.03% |
| Attached – Row | 211 | 175 | -36 | -17.06% |
| Apartment | 292 | 253 | -39 | -13.36% |
| Total City | 1896 | 1547 | -349 | -18.41% |
Calgary Real Estate Sales Prices:
As we are now in a buyer market we should expect prices to decline slightly which is what happened except in the Apartment Condo sector where prices increased slightly.
| Sales Prices | June 2018 Benchmark Price | July 2018 Benchmark Price | Change |
| Detached | 503,100 | 501,300 | -1,800 |
| Semi Detached | 418,000 | 416,200 | -1,800 |
| Attached – Row | 302,300 | 300,300 | -2,000 |
| Apartment | 259,100 | 259,700 | 600 |
| Total City | 436,500 | 435,200 | -1,300 |
Sales Prices “Year to Date”
Same as monthly number
| Sales Prices | Jan 1, 2018 Benchmark Price | July 2018 Benchmark Price | Change
$ |
% Change |
| Detached | 499,600 | 501,300 | 1,700 | 0.34% |
| Semi Detached | 416,600 | 416,200 | -400 | -0.10% |
| Attached – Row | 299,500 | 300,300 | 800 | 0.27% |
| Apartment | 257,700 | 259,700 | 2,000 | 0.78% |
| Total City | 433,200 | 435,200 | 2,000 | 0.46% |
**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns. This report does not include rural properties. If you would like to find stats on your community just let me know. If you have any questions about this summary or about Real Estate in general, please feel free to contact us.
What is really happening in the Calgary Real Estate Market?
Calgary Real Estate Absorption Rate
Calgary Real Estate Absorption Rate
Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate. A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.
Absorption Rate (Months of Inventory) – the inventory divided by the number of sales in the last month). What does this mean you might ask?
| Buyer’s Market | >4.0 | Drives prices down |
| Balanced Market | Between 2.4 to 4.0 | Prices typically remain stable |
| Seller’s Market | <2.4 | Drives prices up |
Watch the Trend
On the above graph it is important to see the trends – Especially the apartment condo absorption rate- it is trending downward and is closing the gap with the rest of the sectors.
Current Absorption Rate
The absorption rate for all categories except Attached-Row houses declined this month which in my opinion is a good thing as it shows a little more balance in the market.
| End of | May 2018 | June 2018 | Change |
| Detached | 4.26 | 3.98 | -0.28 |
| Semi Detached | 5.53 | 5.04 | -0.49 |
| Attached – Row | 5.06 | 5.73 | 0.67 |
| Apartment | 6.81 | 6.41 | -0.40 |
| Total City | 4.90 | 4.65 | -0.24 |
Calgary Listing Inventory
In June, our inventory increased in all sectors except apartment condos. This is totally expected at this time of year. July should be an interesting month as the typical July will see listings drop off. The decrease in apartment condos I would contribute to listings expiring as sales were flat.
| Inventory | May 2018 | June 2018 | Change |
| Detached | 4504 | 4817 | 313 |
| Semi Detached | 862 | 922 | 60 |
| Attached – Row | 1163 | 1209 | 46 |
| Apartment | 1921 | 1872 | -49 |
| Total City | 8450 | 8820 | 370 |
Calgary Sales:
Sales were again up in all categories except for Attached Row houses which were down only 19 from May. The percentage looks big at 8.26 due to small numbers in this sector.
Sales for June were 11% down from last year but this is again an improvement as May sales were down 18.4% from last year.
| Calgary Sales | May 2018 | June 2018 | Change | % Change |
| Detached | 1058 | 1210 | 152 | 14.37% |
| Semi Detached | 156 | 183 | 27 | 17.31% |
| Attached – Row | 230 | 211 | -19 | -8.26% |
| Apartment | 282 | 292 | 10 | 3.55% |
| Total City | 1726 | 1896 | 170 | 9.85% |
Calgary Real Estate Sales Prices:
This one has me stumped. In theory the sector with the highest absorption rate should have the biggest decline in price. The opposite took place in June with every sector dropping a little except Apartment Condos which increased in price.
| Sales Prices | May 2018 Benchmark Price | June 2018 Benchmark Price | Change |
| Detached | 504,500 | 503,100 | -1,400 |
| Semi Detached | 419,000 | 418,000 | -1,000 |
| Attached – Row | 303,200 | 302,300 | -900 |
| Apartment | 256,200 | 259,100 | 2,900 |
| Total City | 436,900 | 436,500 | -400 |
Sales Prices “Year to Date”
Same as monthly number
| Sales Prices | Jan 1, 2018 Benchmark Price | June 2018 Benchmark Price | Change
$ |
% Change |
| Detached | 499,600 | 503,100 | 3,500 | 0.70% |
| Semi Detached | 416,600 | 418,000 | 1,400 | 0.34% |
| Attached – Row | 299,500 | 302,300 | 2,800 | 0.93% |
| Apartment | 257,700 | 259,100 | 1,400 | 0.54% |
| Total City | 433,200 | 436,500 | 3,300 | 0.76% |
**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns. This report does not include rural properties. If you would like to find stats on your community just let me know. If you have any questions about this summary or about Real Estate in general, please feel free to contact us.
What is really happening in the Calgary Real Estate Market?
What is really happening in the Calgary Real estate Market
What is really happening in the Calgary Real Estate Market?
Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate. A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.
Absorption Rate (Months of Inventory) – the inventory divided by the number of sales in the last month). What does this mean you might ask?
| Buyer’s Market | >4.0 | Drives prices down |
| Balanced Market | Between 2.4 to 4.0 | Prices typically remain stable |
| Seller’s Market | <2.4 | Drives prices up |
Current Absorption Rate
No major fluctuations here this month. Detached homes went up a little while all other categories went down between .25 and .54
| End of | Apr 2018 | May 2018 | Change |
| Detached | 4.01 | 4.26 | 0.25 |
| Semi Detached | 6.00 | 5.53 | -0.47 |
| Attached – Row | 5.60 | 5.06 | -0.54 |
| Apartment | 7.06 | 6.81 | -0.25 |
| Total City | 4.82 | 4.90 | 0.07 |
Calgary Listing Inventory
In April, our inventory increased in all Sectors. This is totally expected at this time of year and we should expect this trend to continue for another month anyways.
| Inventory | Apr 2018 | May 2018 | Change |
| Detached | 3642 | 4504 | 862 |
| Semi Detached | 756 | 862 | 106 |
| Attached – Row | 1075 | 1163 | 88 |
| Apartment | 1851 | 1921 | 70 |
| Total City | 7324 | 8450 | 1126 |
Calgary Sales:
The good news is that sales are up from last month in all categories. Looking at the bigger picture we are still substantially down from last year’s sales. May showed 18.4% less sales than May 2017. This however is an improvement as April sales were down 20.3% from last April.
| Calgary Sales | Apr 2018 | May 2018 | Change | % Change |
| Detached | 908 | 1058 | 150 | 16.52% |
| Semi Detached | 126 | 156 | 30 | 23.81% |
| Attached – Row | 192 | 230 | 38 | 19.79% |
| Apartment | 262 | 282 | 20 | 7.63% |
| Total City | 1518 | 1726 | 208 | 13.70% |
Calgary Real Estate Sales Prices:
Prices in April showed very little change. Attached-Row houses showed the largest gain of $3,200. while Semi-Detached homes showed the largest decrease of $1,000.
| Sales Prices | Apr 2018 Benchmark Price | May 2018 Benchmark Price | Change |
| Detached | 504,500 | 504,500 | 0 |
| Semi Detached | 420,000 | 419,000 | -1,000 |
| Attached – Row | 300,000 | 303,200 | 3,200 |
| Apartment | 256,700 | 256,200 | -500 |
| Total City | 436,500 | 436,900 | 400 |
Sales Prices “Year to Date”
Same as monthly number
| Sales Prices | Jan 1, 2018 Benchmark Price | May 2018 Benchmark Price | Change
$ |
% Change |
| Detached | 499,600 | 504,500 | 4,900 | 0.98% |
| Semi Detached | 416,600 | 419,000 | 2,400 | 0.58% |
| Attached – Row | 299,500 | 303,200 | 3,700 | 1.24% |
| Apartment | 257,700 | 256,200 | -1,500 | -0.58% |
| Total City | 433,200 | 436,900 | 3,700 | 0.85% |
**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns. This report does not include rural properties. If you would like to find stats on your community just let me know. If you have any questions about this summary or about Real Estate in general, please feel free to contact us.
What is really happening in the Calgary Real Estate Market?
Months of housing inventory for last 2 years.
What is really happening in the Calgary Real Estate Market?
Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market, This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate. A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.
Absorption Rate (Months of Inventory – the inventory divided by the number of sales in the last month). What does this mean you might ask?
| Buyer’s Market | >4.0 | Drives prices down |
| Balanced Market | Between 2.4 to 4.0 | Prices typically remain stable |
| Seller’s Market | <2.4 | Drives prices up |
April end Absorption Rate
For the month of April we had some larger changes here. Semi-Detached increased by 1.3, Detached increased by .4, while apartment condos decreased by .65 which has been drastically needed. In my opinion we can be thankful that our inventory to sales is staying somewhat balanced considering the lull in sales.
| End of | Mar 2018 | Apr 2018 | Change |
| Detached | 3.61 | 4.01 | 0.40 |
| Semi Detached | 4.70 | 6.00 | 1.30 |
| Attached – Row | 5.77 | 5.60 | -0.17 |
| Apartment | 7.72 | 7.06 | -0.65 |
| Total City | 4.64 | 4.82 | 0.19 |
Calgary Listing Inventory
In April, our inventory increased in all Sectors. This is totally expected at this time of year. This trend is anticipated until the end of June as more people list their homes in Spring.
| Inventory | Mar 2018 | Apr 2018 | Change |
| Detached | 3063 | 3642 | 579 |
| Semi Detached | 677 | 756 | 79 |
| Attached – Row | 941 | 1075 | 134 |
| Apartment | 1690 | 1851 | 161 |
| Total City | 6371 | 7324 | 953 |
Calgary Sales:
While our monthly numbers are trending upwards in all categories except Semi-detached these stats don’t show the comparison to last year. Compared to last year Jan to April end we are down in Sales by 19.6%
As pointed out last month this can be due to a number of factors including but not limited to:
| Calgary Sales | Mar 2018 | Apr 2018 | Change | % Change |
| Detached | 848 | 908 | 60 | 7.08% |
| Semi Detached | 144 | 126 | -18 | -12.50% |
| Attached – Row | 163 | 192 | 29 | 17.79% |
| Apartment | 219 | 262 | 43 | 19.63% |
| Total City | 1374 | 1518 | 144 | 10.48% |
Calgary Real Estate Sales Prices:
Prices in April showed very little change for all categories. All categories increased with the exception of Apartment Condos and based on the absorption rate this will continue for some time.
| Sales Prices | Mar 2018 Benchmark Price | Apr 2018 Benchmark Price | Change |
| Detached | 503,800 | 504,500 | 700 |
| Semi Detached | 418,800 | 420,000 | 1,200 |
| Attached – Row | 297,600 | 300,000 | 2,400 |
| Apartment | 257,100 | 256,700 | -400 |
| Total City | 435,600 | 436,500 | 900 |
Sales Prices “Year to Date”
| Sales Prices | Jan 1, 2018 Benchmark Price | Apr 2018 Benchmark Price | Change
$ |
% Change |
| Detached | 499,600 | 504,500 | 4,900 | 0.98% |
| Semi Detached | 416,600 | 420,000 | 3,400 | 0.82% |
| Attached – Row | 299,500 | 300,000 | 500 | 0.17% |
| Apartment | 257,700 | 256,700 | -1,000 | -0.39% |
| Total City | 433,200 | 436,500 | 3,300 | 0.76% |
**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns. This report does not include rural properties. If you would like to find stats on your community or if you have any questions about this summary or about Real Estate in general, please feel free to contact us.
Calgary Real Estate Absorption Rate
What is really happening in the Calgary Real Estate Market?
Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market, This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate. A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.
Absorption Rate (Months of Inventory – the inventory divided by the number of sales in the last month). What does this mean you might ask?
| Buyer’s Market | >4.0 | Drives prices down |
| Balanced Market | Between 2.4 to 4.0 | Prices typically remain stable |
| Seller’s Market | <2.4 | Drives prices up |
Current Absorption Rate
The good news part of the stats show that sales rose by 25.6% over Febuary while the inventory rose by only 22.5% keeping the balance similar. The Absorption rate for all categories decreased slightly except apartment condos which increased by .47
| End of | Feb 2018 | Mar 2018 | Change |
| Detached | 3.74 | 3.61 | -0.13 |
| Semi Detached | 5.05 | 4.70 | -0.35 |
| Attached – Row | 5.86 | 5.77 | -0.08 |
| Apartment | 7.24 | 7.72 | 0.47 |
| Total City | 4.76 | 4.64 | -0.12 |
Calgary Listing Inventory
In March, our inventory increased in all Sectors. This is totally expected at this time of year. This trend is anticipated for the next few months.
| Inventory | Feb 2018 | Feb Mar 2018 | Change |
| Detached | 2456 | 3063 | 607 |
| Semi Detached | 540 | 677 | 137 |
| Attached – Row | 779 | 941 | 162 |
| Apartment | 1427 | 1690 | 263 |
| Total City | 5202 | 6371 | 1169 |
Calgary Sales: For me this is the category that is concerning. Sales numbers all increased for March which is a normal trend. What you cannot see here is that sales for the first three months are below last years sales by 18% which is substantial. Some things that might be affecting sales include:
As I have predicted in the past I believe it may take 6 months total for the mortgage rules to settle out before we start seeing more normal sales numbers.
| Calgary Sales | Feb 2018 | Mar 2018 | Change | % Change |
| Detached | 657 | 848 | 191 | 29.07% |
| Semi Detached | 107 | 144 | 37 | 34.58% |
| Attached – Row | 133 | 163 | 30 | 22.56% |
| Apartment | 197 | 219 | 22 | 11.17% |
| Total City | 1094 | 1374 | 280 | 25.59% |
Calgary Real Estate Sales Prices:
Prices in March showed very little change for all categories.
| Sales Prices | Feb 2018 Benchmark Price | Mar 2018 Benchmark Price | Change |
| Detached | 502,800 | 503,800 | 1,000 |
| Semi Detached | 418,800 | 418,800 | 0 |
| Attached – Row | 295,400 | 297,600 | 2,200 |
| Apartment | 256,400 | 257,100 | 700 |
| Total City | 434,300 | 435,600 | 1,300 |
Sales Prices “Year to Date”
| Sales Prices | Jan 1, 2018 Benchmark Price | Mar 2018 Benchmark Price | Change
$ |
% Change |
| Detached | 499,600 | 503,800 | 4,200 | 0.84% |
| Semi Detached | 416,600 | 418,800 | 2,200 | 0.53% |
| Attached – Row | 299,500 | 297,600 | -1,900 | -0.63% |
| Apartment | 257,700 | 257,100 | -600 | -0.23% |
| Total City | 433,200 | 435,600 | 2,400 | 0.55% |
**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns. This report does not include rural properties. If you would like to find stats on your community just let me know. If you have any questions about this summary or about Real Estate in general, please feel free to contact us.
What is really happening in the Calgary Real Estate Market?
Calgary Real Estate Absorption Rate
Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market, This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate. A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.
Absorption Rate (Months of Inventory – the inventory divided by the number of sales in the last month). What does this mean you might ask?
| Buyer’s Market | >4.0 | Drives prices down |
| Balanced Market | Between 2.4 to 4.0 | Prices typically remain stable |
| Seller’s Market | <2.4 | Drives prices up |
Current Absorption Rate
The Absorption rate for Detached homes and apartment condos decreased from January while Semi-detached and Row homes increased. Most of the changes are small except there was a large decrease for apartment condos, this decrease is simply offsetting last months spike.
| End of | Jan 2018 | Feb 2018 | Change |
| Detached | 3.77 | 3.74 | -0.03 |
| Semi Detached | 4.51 | 5.05 | 0.54 |
| Attached – Row | 5.34 | 5.86 | 0.52 |
| Apartment | 8.77 | 7.24 | -1.53 |
| Total City | 4.84 | 4.76 | -0.08 |
Calgary Listing Inventory
In February, our inventory increased in all Sectors. This is totally expected at this time of year. This trend is anticipated for the next few months.
| Inventory | Jan 2018 | Feb 2018 | Change |
| Detached | 2199 | 2456 | 257 |
| Semi Detached | 451 | 540 | 89 |
| Attached – Row | 699 | 779 | 80 |
| Apartment | 1289 | 1427 | 138 |
| Total City | 4638 | 5202 | 564 |
Calgary Sales: Sales numbers all increased for February. What you cannot see here is that sales decreased 18% from February of last year. I believe this decrease is due in part to the weather we have had, but more because of the new mortgage rules. I believe it will take another couple of months for the sales to come back to a more normal level.
| Calgary Sales | Jan 2018 | Feb 2018 | Change | % Change |
| Detached | 583 | 657 | 74 | 12.69% |
| Semi Detached | 100 | 107 | 7 | 7.00% |
| Attached – Row | 131 | 133 | 2 | 1.53% |
| Apartment | 147 | 197 | 50 | 34.01% |
| Total City | 959 | 1094 | 135 | 14.08% |
Calgary Real Estate Sales Prices:
Prices in February showed an increase in Detached and Semi-Detached sectors, a tiny increase in Apartment condos and a decrease in Attached-Row homes.
| Sales Prices | Jan 2017 Benchmark Price | Feb 2018 Benchmark Price | Change |
| Detached | 499,400 | 502,800 | 3,400 |
| Semi Detached | 415,800 | 418,800 | 3,000 |
| Attached – Row | 296,700 | 295,400 | -1,300 |
| Apartment | 256,200 | 256,400 | 200 |
| Total City | 432,300 | 434,300 | 2,000 |
Sales Prices “Year to Date”
Same as monthly number
| Sales Prices | Jan 1, 2018 Benchmark Price | Feb 2018 Benchmark Price | Change
$ |
% Change |
| Detached | 499,600 | 502,800 | -200 | -0.04% |
| Semi Detached | 416,600 | 418,800 | -800 | -0.19% |
| Attached – Row | 299,500 | 295,400 | -2,800 | -0.93% |
| Apartment | 257,700 | 256,400 | -1,500 | -0.58% |
| Total City | 433,200 | 432,300 | -900 | -0.21% |
**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns. This report does not include rural properties. If you would like to find stats on your community just let me know. If you have any questions about this summary or about Real Estate in general, please feel free to contact us.
Absorption Rate – Calgary Real Estate
What is really happening in the Calgary Real Estate Market?
Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate. A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.
Absorption Rate (Months of Inventory – the inventory divided by the number of sales in the last month). What does this mean you might ask?
| Buyer’s Market | >4.0 | Drives prices down |
| Balanced Market | Between 2.4 to 4.0 | Prices typically remain stable |
| Seller’s Market | <2.4 | Drives prices up |
Current Absorption Rate
The absorption rate for December increased for Detached and Apartment sectors with a tiny increase in Attached Row homes. The only decrease is in the Semi-Detached.
At this point I am speculating however I believe that with the mortgage rule changes that went into affect Jan 1st we are going to see some buyers shifting from detached homes to Semi-Detached and from Semi-Detached to Row and from row to apartment condos.
| End of | Dec 2017 | Jan 2018 | Change |
| Detached | 3.30 | 3.75 | 0.45 |
| Semi Detached | 4.64 | 4.56 | -0.09 |
| Attached – Row | 5.22 | 5.33 | 0.11 |
| Apartment | 6.99 | 8.89 | 1.90 |
| Total City | 4.28 | 4.83 | 0.55 |
Calgary Listing Inventory
In January our inventory increased in all Sectors. This is totally expected as some sellers take their home off the market for December and relist in January.
| Inventory | Dec 2017 | Jan 2018 | Change |
| Detached | 2033 | 2185 | 152 |
| Semi Detached | 441 | 451 | 10 |
| Attached – Row | 658 | 698 | 40 |
| Apartment | 1182 | 1289 | 107 |
| Total City | 4314 | 4623 | 309 |
Calgary Sales:
Sales numbers are down a little from December and again this is a normal seasonal trend. What is important to note here is that when we compare with last year, January sales were 2% higher than in January 2017.
| Calgary Sales | Dec 2017 | Jan 2018 | Change | % Change |
| Detached | 616 | 583 | -33 | -5.36% |
| Semi Detached | 95 | 99 | 4 | 4.21% |
| Attached – Row | 126 | 131 | 5 | 3.97% |
| Apartment | 169 | 145 | -24 | -14.20% |
| Total City | 1008 | 958 | -50 | -4.96% |
Calgary Real Estate Sales Prices:
Prices in January decreased in every sector with larger decreases in the Attached Row and apartment condo sectors. This is consistent with higher absorption rates in those sectors.
| Sales Prices | Dec 2017 Benchmark Price | Jan 2018 Benchmark Price | Change |
| Detached | 499,600 | 499,400 | -200 |
| Semi Detached | 416,600 | 415,800 | -800 |
| Attached – Row | 299,500 | 296,700 | -2,800 |
| Apartment | 257,700 | 256,200 | -1,500 |
| Total City | 433,200 | 432,300 | -900 |
Sales Prices “Year to Date”
Same as monthly number
| Sales Prices | Jan 1, 2018 Benchmark Price | Jan 2018 Benchmark Price | Change
$ |
% Change |
| Detached | 499,600 | 499,400 | -200 | -0.04% |
| Semi Detached | 416,600 | 415,800 | -800 | -0.19% |
| Attached – Row | 299,500 | 296,700 | -2,800 | -0.93% |
| Apartment | 257,700 | 256,200 | -1,500 | -0.58% |
| Total City | 433,200 | 432,300 | -900 | -0.21% |
**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns. This report does not include rural properties. If you would like to find stats on your community just let me know. If you have any questions about this summary or about Real Estate in general, please feel free to contact us.
Annual Forecast from the Real Estate Board Economist.
In a nutshell her forecast for 2018 is that the market will stay essentially the same as it was in 2017, with similar inventory levels and sales levels. The Calgary Real Estate Board produced a full report showing not only what they predict but the reasons why. I found it a very interesting read. If you would like a full copy of the report just let us know and I can email to you.