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Calgary Real Estate Market Snapshot for Dec 1, 2018

Tuesday, December 4th, 2018

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.

 

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Calgary Real Estate Market Snapshot – Aug 1, 2018

Thursday, August 2nd, 2018

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.

 

 

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Calgary Real Estate Market Snapshot

Tuesday, July 3rd, 2018

What is really happening in the Calgary Real Estate Market?

Calgary Real Estate Absorption Rate

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.

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Calgary Real Estate Market -June 1, 2018

Saturday, June 2nd, 2018

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

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.

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Calgary Real Estate Market Snapshot- May 1, 2018

Wednesday, May 2nd, 2018

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:

  • Weather
  • Mortgage rules changes from Jan 1
  • Calgary’s economy
  • Consumer lack of confidence.

 

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.

 

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Calgary Real Estate Market Snapshot: April 1, 2018

Tuesday, April 3rd, 2018

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:

  • The Weather
  • Mortgage rule changes that the Federal Government implemented on Jan 1, 2018
  • Consumer confidence in Calgary

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.

 

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Calgary Real Estate Market Snapshot March 1, 2018

Thursday, March 1st, 2018

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.

 

 

 

 

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Calgary Real Estate Market Snapshot Feb 1, 2018

Friday, February 2nd, 2018

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.

 

 

 

 

 

 

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Calgary Real Estate Market Snapshot Jan 1, 2018

Tuesday, January 2nd, 2018

What is really happening in the Calgary Real Estate Market?

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 November increased in all categories for December.  The number of listings dropped but the number of sales dropped even more.  My concern is that a lot of inventory came off for the holiday season and we may see a ton of listings hit the market in January.  

Nov  2017  Dec  2017  Change
Detached 3.15 3.30 0.15
Semi Detached 4.40 4.64 0.24
Attached – Row 4.60 5.22 0.62
Apartment 6.69 6.99 0.31
Total City 4.01 4.28 0.26

 

Calgary Listing Inventory

In December all categories saw a decrease in the number of listings.  This is normal for this time of year where people will let their listing expire and then put it back on in the new year.

Inventory Nov  2017  Dec  2017  Change
Detached 2758 2033 -725
Semi Detached 555 441 -114
Attached – Row 861 658 -203
Apartment 1491 1182 -309
Total City 5665 4314 -1351

 

Calgary Sales:

Sales for December decreased in all categories.   Of interest our sales in all categories exceeded the sales for Dec 2016.

Total sales Dec 2016:  929

Total sales Dec 2017: 1006

Increase of 8.3%

 

Calgary Sales  Nov  2017  Dec  2017  Change % Change
Detached 875 616 -259 -29.60%
Semi Detached 126 95 -31 -24.60%
Attached – Row 187 126 -61 -32.62%
Apartment 223 169 -54 -24.22%
Total City 1411 1008 -403 -28.56%

 

Calgary Real Estate Sales Prices:

Prices in December dropped a little in all categories.   The highest decreases were in detached and attached-row houses.

  Sales Prices Nov  2017  Benchmark Price   Dec  2017  Benchmark Price Change
Detached 504,000 499,600 -4,400
Semi Detached 417,800 416,600 -1,200
Attached – Row 303,100 299,500 -3,600
Apartment 258,300 257,700 -600
Total City 436,700 433,200 -3,500

 

Sales Prices “Year to Date”  

Well, here is the summary for the year 2017.   Small gains in Detached and Semi-Detached homes and a small reduction in Attached Row with a larger decrease in Apartment Condos.  If you have been watching my report for the year the absorption rate for apartment condos has been very high all year.

Sales Prices Jan 1, 2017    Benchmark Price  Dec  2017  Benchmark Price Change

$

% Change
Detached 498,900 499,600 700 0.14%
Semi Detached 406,200 416,600 10,400 2.56%
Attached – Row 303,100 299,500 -3,600 -1.19%
Apartment 266,500 257,700 -8,800 -3.30%
Total City 434,100 433,200 -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 Real Estate questions please feel free to contact us.

My Prediction for 2018

The big news is that as of yesterday the mortgage rules changed and people will be able to qualify for less mortgage due to the new “Stress Test”

When the government made the same change for 5% Down mortgages we saw little impact in the market so I am predicting little impact on the market due to this.  If anything we will see less sales activity in Detached homes and some buyers will move into attached homes or Townhomes.  Some who could previously qualify for a townhouse may now move into the Apartment Condo sector.  For Calgary if this prediction comes true it could be good as it may balance out the market categories.  Overall I believe that the Calgary Market will continue to pick up momentum through 2018.

Happy New Year, we hope you have an awesome 2018.

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Calgary Real Estate Market Snapshot – Dec. 1, 2017

Saturday, December 2nd, 2017

Absorption Rate Dec. 2017

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.

What is 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 November decreased in all categories except Semi – Detached which rose a little.  In my opinion this is mainly due to listings expiring and not due to sales.  Either way this is good as it is keeping the market fairly balanced. 

Oct  2017  Nov  2017  Change
Detached 3.57 3.15 -0.42
Semi Detached 4.27 4.40 0.13
Attached – Row 5.28 4.60 -0.68
Apartment 7.03 6.69 -0.35
Total City 4.41 4.01 -0.39

 

Calgary Listing Inventory

In November all categories saw a decrease in the number of listings.  This is normal for this time of year where people will let their listing expire and then put it back on in the new year.

Inventory Oct  2017  Nov  2017  Change
Detached 3246 2758 -488
Semi Detached 611 555 -56
Attached – Row 967 861 -106
Apartment 1639 1491 -148
Total City 6463 5665 -798

 

 

Calgary Sales:

Sales for November saw a small decrease overall.  Attached Row homes are the only category to show an increase.  Semi-Detached saw a rather large decrease and it’s my belief that this is simply listings expiring that will be relisted in January.

Of interest Calgary year to date sales are 15% above last year’s sales.

Calgary Sales  Oct  2017  Nov  2017  Change % Change
Detached 908 875 -33 -3.63%
Semi Detached 143 126 -17 -11.89%
Attached – Row 183 187 4 2.19%
Apartment 233 223 -10 -4.29%
Total City 1467 1411 -56 -3.82%

    

Calgary Real Estate Sales Prices:

Prices for November showed a slight decrease in Calgary.  This in my opinion is mainly due to consumer confidence or lack of it.

  Sales Prices Oct  2017  Benchmark Price   Nov  2017  Benchmark Price Change
Detached 506,200 504,000 -2,200
Semi Detached 419,000 417,800 -1,200
Attached – Row 305,000 303,100 -1,900
Apartment 261,600 258,300 -3,300
Total City 438,900 436,700 -2,200

 

Sales Prices “Year to Date”  

Sales Prices Jan 1, 2017    Benchmark Price  Nov  2017  Benchmark Price Change

$

% Change
Detached 498,700 504,000 5,300 1.06%
Semi Detached 406,800 417,800 11,000 2.70%
Attached – Row 302,600 303,100 500 0.17%
Apartment 265,000 258,300 -6,700 -2.53%
Total City 433,400 436,700 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.

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