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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%

Tags:Absorption Rate Calgary, Calgary House Prices, Calgary Housing Market, calgary real estate prices
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Calgary Real Estate Market Snapshot – Nov. 1, 2017

Thursday, November 2nd, 2017

Aborsption Rate Trend – Supply Vs Demand

What is really happening in the Calgary Real Estate Market?

Absorption Rate’s Explained (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 October stayed almost flat with the exception of Apartment Condos which decreased by 1.38 which is the first sizable decrease we have seen in this sector in a while. It’s important to note that last month went up by 1.29 so part of this can be just timing of listing coming on and off the market.

	Sept 2017	Oct 2017	Change
Detached	3.79	3.57	-0.21
Semi Detached	4.31	4.27	-0.04
Attached – Row	5.25	5.28	0.03
Apartment	8.42	7.03	-1.38
Total City	4.69	4.41	-0.29

Calgary Listing Inventory

In October all categories stayed flat except for detached homes which saw an decrease of 233 listings and apartment condos which decreased by 129 listings.

Inventory	Sept 2017	Oct 2017	Change
Detached	3479	3246	-233
Semi Detached	621	611	-10
Attached – Row	993	967	-26
Apartment	1768	1639	-129
Total City	6861	6463	-398

Calgary Sales:

Sales for October were almost identical to September. Last year sales from Sept to Oct increased by 168 so were a little behind last year.

Calgary Sales	Sept 2017	Oct 2017	Change	% Change
Detached	919	908	-11	-1.20%
Semi Detached	144	143	-1	-0.69%
Attached – Row	189	183	-6	-3.17%
Apartment	210	233	23	10.95%
Total City	1462	1467	5	0.34%

Calgary Real Estate Sales Prices:

I find these numbers interesting as again if in a balanced market prices should remain fairly stable. In reality every sector showed a slight decrease. One variable that these numbers do not show is consumer confidence and I think this may have something to do with prices holding.

Sales Prices	Sept 2017 Benchmark Price	Oct 2017 Benchmark Price	Change
Detached	508,900	506,200	-2,700
Semi Detached	419,400	419,000	-400
Attached – Row	306,900	305,000	-1,900
Apartment	263,700	261,600	-2,100
Total City	441,500	438,900	-2,600

Sales Prices “Year to Date”

Our Year to date numbers are very in alignment with the absorption rate changes.

Sales Prices	Jan 1, 2017 Benchmark Price	Oct 2017 Benchmark Price	Change $	% Change
Detached	498,700	506,200	7,500	1.50%
Semi Detached	406,800	419,000	12,200	3.00%
Attached – Row	302,600	305,000	2,400	0.79%
Apartment	265,000	261,600	-3,400	-1.28%
Total City	433,400	438,900	5,500	1.27%

Looking Forward – Again just Gord’s opinion.

Based on the absorption rate we should see stability in the Detached & Semi Detached sectors while we may seem more losses in the Row House & Apartment sectors

However

You may have heard by now that the Fed’s are changing mortgage qualifying rules as of Jan 1, 2018. This can cause a wide range of changes.

In the short term it can push people to buy before the end of the year.
When they changed the qualifying process for insured mortgages we saw little change in sales numbers.
I heard from one mortgage broker that most banks are already doing this for many types of mortgages so again the impact may be smaller than what some expect
If there is an impact and people are able to qualify for less, then this may push some people from detached homes to attached homes and from row housing to the apartment condo sector which in Calgary could bring more balance to our market.
Really only time will tell the whole story

**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 us know. If you have any questions about this summary or Real Estate questions please feel free to contact us.

Tags:Calgary Home Prices, Calgary Housing market Snapshot, CREB Statistics Simplified
Posted in Blog, Real Estate Board's Statistics | Comments Closed

Calgary Real Estate Market Snapshot – Oct 1, 2017

Monday, October 2nd, 2017

Calgary Absorption Rate

What is really happening in the Calgary Real Estate Market?

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

Absorption Rate

The Absorption rate for September increased in all categories except attached-row homes where it dropped marginally. The one to note is apartment condos which increased by 1.29 putting us at 8.42 months of inventory.

	Aug 2017	Sept 2017	Change
Detached	3.32	3.79	0.46
Semi Detached	3.27	4.31	1.04
Attached – Row	5.27	5.25	-0.02
Apartment	7.13	8.42	1.29
Total City	4.13	4.69	0.56

Calgary Listing Inventory

In September all categories stayed flat except for detached homes which saw an increase of 199 listings.

Inventory	Aug 2017	Sept 2017	Change
Detached	3280	3479	199
Semi Detached	585	621	36
Attached – Row	991	993	2
Apartment	1769	1768	-1
Total City	6624	6861	237

Calgary Sales:

Sales for September saw a decrease in all categories except attached-row homes which increased by 1. A decrease at this time of year is fairly normal and I would classify this as simply seasonal.

Of interest Calgary year to date sales are 7% above last year’s sales.

Calgary Sales	Aug 2017	Sept 2017	Change	% Change
Detached	987	919	-68	-6.89%
Semi Detached	179	144	-35	-19.55%
Attached – Row	188	189	1	0.53%
Apartment	248	210	-38	-15.32%
Total City	1602	1462	-140	-8.74%

Calgary Real Estate Sales Prices:

Okay, I will eat my words here. Last month I predicted that prices would remain fairly even except for attached – row houses and apartment condos which I said should drop. As you can see below I was wrong however with the absorption rates I again will predict all categories will remain fairly flat with the exception of apartment condos where a decrease is likely.

Sales Prices	Aug 2017Benchmark Price	Sept 2017 Benchmark Price	Change
Detached	510,900	508,900	-2,000
Semi Detached	419,600	419,400	-200
Attached – Row	307,000	306,900	-100
Apartment	263,300	263,700	400
Total City	442,300	441,500	-800

Sales Prices “Year to Date”

Sales Prices	Jan 1, 2017 Benchmark Price	Sept 2017 Benchmark Price	Change $	% Change
Detached	498,700	508,900	10,200	2.05%
Semi Detached	406,800	419,400	12,600	3.10%
Attached – Row	302,600	306,900	4,300	1.42%
Apartment	265,000	263,700	-1,300	-0.49%
Total City	433,400	441,500	8,100	1.87%

**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.

TSW Real Estate Group

Tags:Calgary Real Estate Market Snapshot, calgary real estate prices, House Prices calgary
Posted in Blog, Real Estate Board's Statistics | Comments Closed

Calgary Real Estate Market Snapshot

Sunday, September 3rd, 2017

What is Really Happening in the Calgary Real Estate Market?

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 August showed a very slight increase for detached homes, and Apartment condos. Attached (Row) houses showed a larger increase of .64 while Semi-detached (Duplexes) showed a substantial decrease of .79.

	July 2017	Aug 2017	Change
Detached	3.21	3.32	0.11
Semi Detached	4.05	3.27	-0.79
Attached – Row	4.63	5.27	0.64
Apartment	7.07	7.13	0.06
Total City	4.08	4.13	0.06

Calgary Listing Inventory

In August we saw most categories stay almost the same. The one exception is Apartment Condos and they decreased by 41 listings. I believe the reason for this is listings expiring and not a sales increase.

Inventory	July 2017	Aug 2017	Change
Detached	3268	3280	12
Semi Detached	596	585	-11
Attached – Row	1001	991	-10
Apartment	1810	1769	-41
Total City	6675	6624	-51

Calgary Sales:

August sales remained very consistent to July’s numbers with all being within 35 either way.

Calgary Sales	July 2017	Aug 2017	Change	% Change
Detached	1018	987	-31	-3.05%
Semi Detached	147	179	32	21.77%
Attached – Row	216	188	-28	-12.96%
Apartment	256	248	-8	-3.13%
Total City	1637	1602	-35	-2.14%

Calgary Real Estate Sales Prices:

Interestingly enough all categories except Row houses (townhouses) took a small drop this month.

The largest decrease was in apartment condos and my opinion is that due to the high absorption rate this will continue for some time.

Sales Prices	July 2017 Benchmark Price	Aug 2017 Benchmark Price	Change
Detached	512,100	510,900	-1,200
Semi Detached	420,800	419,600	-1,200
Attached – Row	306,700	307,000	300
Apartment	266,200	263,300	-2,900
Total City	443,600	442,300	-1,300

Sales Prices “Year to Date”

Sales Prices	Jan 1, 2017 Benchmark Price	Aug 2017 Benchmark Price	Change $	% Change
Detached	498,700	510,900	12,200	2.45%
Semi Detached	406,800	419,600	12,800	3.15%
Attached – Row	302,600	307,000	4,400	1.45%
Apartment	265,000	263,300	-1,700	-0.64%
Total City	433,400	442,300	8,900	2.05%

**Please note that these numbers include only Calgary homes and 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.

Tags:Calgary Condo Prices, Calgary Home Prices, Calgary Real Estate Market Trends, CREB Stats Simplified
Posted in Blog, Real Estate Board's Statistics | Comments Closed

August 1, 2017 Market Snapshot

Wednesday, August 2nd, 2017

Absorption Rate Graph

What is really happening in the Calgary Real Estate Market?

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

Important Disclaimer: ***Error*** For those who regularly follow my Market Snapshot you may notice the numbers from last month do not jive with the numbers from this month. It appears to me that this is a correction reversing last month’s numbers from the Real Estate Board.

The chart below shows the change in Sales Price numbers for June and July, so you can see it’s a numbers correction and not what’s really happening. Hopefully this is the last error!

These numbers also reflect what I am seeing in the Market with infills rising and townhouses declining in price.

	June Prices	July Prices	Net Change 2 Months
Semi-Detached	+39,000	(11,300)	+27,700
Row – Townhouses	(14,300)	+12,700	(1,600)

_______________________________________________________________________________

August Market Snapshot Report

*** Absorption Rate

The Absorption rate for July saw all categories increase. This is somewhat normal for this time of year as the majority of summer vacations are taken between July 15^th to Aug 15^th. Our scorching weather may have played a factor in this as well.

	June 2017	July 2017	Change
Detached	2.33	3.21	0.88
Semi Detached	2.90	4.05	1.15
Attached – Row	3.63	4.63	1.01
Apartment	6.55	7.07	0.52
Total City	3.11	4.08	0.97

Calgary Listing Inventory

In July we saw an increase in all categories except apartment condos. I’m speculating the only reason we saw a decline in apartment condos is that many of the listings that are not selling are starting to expire.

Inventory	June 2017	July 2017	Change
Detached	3224	3268	44
Semi Detached	560	596	36
Attached – Row	1001	1001	0
Apartment	1874	1810	-64
Total City	6659	6675	16

Calgary Sales:

As you can see sales declined in all categories in July. Once again I believe this change to be mostly seasonal and also partially due to the hot weather. This is the first month in a while where we have seen such large decreases.

Calgary Sales	June 2017	July 2017	Change	% Change
Detached	1385	1018	-367	-26.50%
Semi Detached	193	147	-46	-23.83%
Attached – Row	276	216	-60	-21.74%
Apartment	286	256	-30	-10.49%
Total City	2140	1637	-503	-23.50%

Calgary Real Estate Sales Prices:

For July we saw small increases in price with the exception of the data errors mentioned above.

Moving forward I expect that detached and semi-detached will remain flat, townhouses may decrease a little more and apartment condos will continue to decrease.

Sales Prices	June 2017 Benchmark Price	July 2017 Benchmark Price	Change
Detached	509,400	512,100	2,700
Semi Detached	432,100	420,800	-11,300
Attached – Row	294,000	306,700	12,700
Apartment	265,800	266,200	400
Total City	441,500	443,600	2,100

Sales Prices “Year to Date”

Sales Prices	Jan 1, 2017 Benchmark Price	June 2017 Benchmark Price	Change $	% Change
Detached	498,700	512,100	13,400	2.69%
Semi Detached	406,800	420,800	14,000	3.44%
Attached – Row	302,600	306,700	4,100	1.35%
Apartment	265,000	266,200	1,200	0.45%
Total City	433,400	443,600	10,200	2.35%

**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.

TSW Real Estate Group

Gord Piper & Brent Wilcox

Tags:Calgary House Prices, Calgary Real Estate Market Snapshot Aug 2017, What is happening in calgary real estate market?
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July 1, 2017 Market Snapshot

Wednesday, July 5th, 2017

What is really happening in the Calgary Real Estate Market?

Absorption Rate for 2017

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

___________________________________________________________________________________________________________________________________

Important Disclaimer: For those who regularly follow my Market Snapshot you may notice the numbers from last month do not jive with the numbers from this month. It appears to me that the Real Estate Board made some changes to what fits into each category and then made the stats changes retroactive. This shows up as a large increase in Semi-Detached homes ($39,000) a large decrease in Row homes (14,300) and a decrease in Apartment condos of $5,400. In my report I am using their new, year to date numbers so you can still see the change from May to June. _____________________________________________________________________________________________________________________________________

*** Absorption Rate

The Absorption rate for June saw all categories increase very slightly. The highest increase is in the apartment condo market where it increased by .26 which happens to be where we need it the least.

	May 2017	June 2017	Change
Detached	2.13	2.33	0.19
Semi Detached	2.78	2.90	0.12
Attached – Row	3.49	3.63	0.14
Apartment	6.29	6.55	0.26
Total City	2.92	3.11	0.19

Calgary Listing Inventory

In June we saw a fairly large increase in our inventory level. Detached homes were the highest showing an increase of 283 listings.

Inventory	May 2017	June 2017	Change
Detached	2941	3224	283
Semi Detached	518	560	42
Attached – Row	949	1001	52
Apartment	1780	1874	94
Total City	6188	6659	471

Calgary Sales:

Can you say consistent? Sales in June were almost identical in numbers to May. As you can see sales remain strong in the detached sector and weak in the apartment condo sector.

Calgary Sales	May 2017	June 2017	Change	% Change
Detached	1378	1385	7	0.51%
Semi Detached	186	193	7	3.76%
Attached – Row	272	276	4	1.47%
Apartment	283	286	3	1.06%
Total City	2119	2140	21	0.99%

Calgary Real Estate Sales Prices:

For June all sectors showed price increased with the exception of Apartment Condos which showed a slight decrease. I believe that you will continue to see this trend for apartment condos for quite some time as there are several new buildings coming to completion stage and it’s just going to increase our inventory.

Sales Prices	May 2017Benchmark Price	June 2017 Benchmark Price	Change
Detached	506,700	509,400	2,700
Semi Detached	427,900	432,100	4,200
Attached – Row	292,400	294,000	1,600
Apartment	266,600	265,800	-800
Total City	439,300	441,500	2,200

Sales Prices “Year to Date”

Sales Prices	Jan 1, 2017 Benchmark Price	June 2017 Benchmark Price	Change $	% Change
Detached	498,700	509,400	10,700	2.15%
Semi Detached	406,800	432,100	25,300	6.22%
Attached – Row	302,600	294,000	-8,600	-2.84%
Apartment	265,000	265,800	800	0.30%
Total City	433,400	441,500	8,100	1.87%

**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.

Tags:Calgary Home Values, calgary real estate prices, CREB Statistics Simplified, How much is my home worth?
Posted in Blog, Real Estate Board's Statistics | Comments Closed

June 1, 2017 Calgary Real Estate Market Snapshot

Monday, June 5th, 2017

What’s Happening in the Calgary Real Estate Market?

Absorption Rate Calgary

What is really happening in the Calgary Real Estate market?

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

*** Absorption Rate June 1, 2017

As you can see below the absorption rates for the different categories did not change substantially in May.

Seller’s Market – Detached and Semi-Detached Homes – No change
Balanced Market – Row or Townhouses
Buyer’s Market – Apartment Condo’s

	April 2017	May 2017	Change
Detached	2.09	2.13	0.04
Semi Detached	2.25	2.78	0.54
Attached – Row	3.92	3.49	-0.43
Apartment	5.74	6.29	0.55
Total City	2.87	2.92	0.05

Calgary Listing Inventory

June saw an increase in inventory levels in all categories. This is a very normal trend for May and we can expect more increases as we get into the summer months.

Inventory	April 2017	May 2017	Change
Detached	2522	2941	419
Semi Detached	463	518	55
Attached – Row	863	949	86
Apartment	1647	1780	133
Total City	5495	6188	693

Calgary Sales:

Both Single family and Attached Row houses saw a large increase in sales this month. Semi-Detached saw a sizable decrease and apartment condos saw a small decrease.

Calgary Sales	April 2017	May 2017	Change	% Change
Detached	1204	1378	174	14.45%
Semi Detached	206	186	-20	-9.71%
Attached – Row	220	272	52	23.64%
Apartment	287	283	-4	-1.39%
Total City	1917	2119	202	10.54%

Calgary Real Estate Sales Prices:

Wow, this is the first time in a few years that I can say that all categories saw price increases during the month of May. While this trend seems nice (for homeowners) I cannot see that this can continue. Detached homes should continue to increase but Apartment condos should not (and should be going down) with the high absorption rate.

Sales Prices	April 2017 Benchmark Price	May 2017 Benchmark Price	Change
Detached	504,100	509,000	4,900
Semi Detached	390,200	393,100	2,900
Attached – Row	305,900	308,300	2,400
Apartment	269,200	271,200	2,000
Total City	439,600	443,800	4,200

Sales Prices “Year to Date”

Sales Prices	Jan 1, 2017 Benchmark Price	May 2017 Benchmark Price	Change $	% Change
Detached	498,300	509,000	10,700	2.15%
Semi Detached	385,400	393,100	7,700	2.00%
Attached – Row	307,900	308,300	400	0.13%
Apartment	269,200	271,200	2,000	0.74%
Total City	435,400	443,800	8,400	1.93%

Clarification

**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.

Tags:2017, Calgary Condo Prices, Calgary Home Prices, Calgary Real Estate Market, CREB Stats June 1
Posted in Blog, Real Estate Board's Statistics | Comments Closed

May 1, 2017 Calgary Real Estate Market Snapshot

Tuesday, May 2nd, 2017

What is really happening in the Calgary Real Estate market?

Calgary Real Estate Absorption Rate

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

The absorption rate for April remained fairly flat. Detached homes changes only by .13%. Semi detached rate decreased by .04% while attached homes and Townhouses both increased by .5% This leaves us in the following market positions:

Sellers Market – Detached and Semi-Detached Homes
Balanced Market – Row or Townhouses
Buyers Market – Apartment Condo’s

	March 2017	April 2017	Change
Detached	1.97	2.09	0.13
Semi Detached	2.29	2.25	-0.04
Attached – Row	3.38	3.92	0.54
Apartment	5.22	5.74	0.52
Total City	2.68	2.87	0.18

Calgary Listing Inventory

April saw a slight increase in our inventory level in all categories except Semi Detached which remained even. Increasing inventory is a normal pattern for April as we are approaching the spring market. Expect our inventory to continue to increase over the next few months.

Inventory	March 2017	April 2017	Change
Detached	2312	2522	210
Semi Detached	463	463	0
Attached – Row	764	863	99
Apartment	1575	1647	72
Total City	5114	5495	381

Calgary Sales:

All categories remained flat in sales. Overall we had 11 more sales in April then in March. This again is a fairly normal pattern and I expect this number to start to increase as buyers tend to come out once spring starts to arrive. We are starting to see lots of competing offers again in the detached market.

Calgary Sales	March 2017	April 2017	Change	% Change
Detached	1176	1204	28	2.38%
Semi Detached	202	206	4	1.98%
Attached – Row	226	220	-6	-2.65%
Apartment	302	287	-15	-4.97%
Total City	1906	1917	11	0.58%

Calgary Real Estate Sales Prices:

Prices this month increased marginally in all categories except for Apartment Condos which went down by $500. The increases in the Detached and Semi Detached homes were small and Row Houses actually increased by $1800. Based on the absorption rate I believe you will continue to see increases in all Detached and Semi Detached Homes, prices should remain flat for Attached-Row houses and a slight decline in apartment condos which are still very much in a buyer’s market position.

Sales Prices	March 2017 2016 Benchmark Price	April 2017 Benchmark Price	Change
Detached	503,900	504,100	200
Semi Detached	389,600	390,200	600
Attached – Row	304,100	305,900	1,800
Apartment	269,700	269,200	-500
Total City	439,400	439,600	200

Sales Prices “Year to Date”

Sales Prices	Jan 1, 2017 Benchmark Price	April 2017 Benchmark Price	Change $	% Change
Detached	498,300	504,100	5,800	1.16%
Semi Detached	385,400	390,200	4,800	1.25%
Attached – Row	307,900	305,900	-2,000	-0.65%
Apartment	269,200	269,200	0	0.00%
Total City	435,400	439,600	4,200	0.96%

Price Notes

**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.

Tags:Calgary Condo Prices, Calgary Home Prices, May Calgary Real Estate Market Snapshot, May Calgary Real Estate stats
Posted in Blog, Real Estate Board's Statistics | Comments Closed

March 1, 2017 Calgary Real Estate snapshot

Wednesday, March 1st, 2017

The Calgary Real Estate Market in changing.

Detached homes are now in a Seller’s market position

Semi-Detached homes are now into a balanced market position

Row (Townhouses) and Apartment condos are in a buyers market position but have moved drastically into a better market (towards balanced)

Absorption rate for the Calgary Real Estate market for February 2017.

What is really happening in the Calgary Real Estate market?

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

*** Absorption Rate***

The absorption rate for all of Calgary decreased quite substantially this month. Not a lot of listings going on market but more importantly a large increase in sales is driving this. Detached homes have now gone into a Seller’s Market position, Attached-Row & Apartment condos are still in a buyer’s market and Semi-detached is in a balanced market.

	December 2016	January 2017	Change
Detached	3.17	2.41	-0.75
Semi Detached	4.61	3.44	-1.17
Attached – Row	4.73	4.41	-0.32
Apartment	8.40	5.88	-2.53
Total City	4.34	3.35	-0.99

Calgary Listing Inventory

February saw a slight increase in our inventory level in all categories. This is a normal pattern for February as were approaching the spring market. Normal trends would predict that over the next few months we will continue to see more listings so a further increase in inventory.

Inventory	December 2016	January 2017	Change
Detached	1849	1990	141
Semi Detached	383	437	54
Attached – Row	610	679	69
Apartment	1269	1387	118
Total City	4112	4493	381

Calgary Sales:

Wow. Every Category saw a large increase in sales in February. The smallest increase was in Attached-row houses (townhouses) and they still increased over Jan by 19.38% It is normal for us to see an increase in sales from Jan to Feb but this is a large increase which the Calgary Market has been waiting for, for some time.

Calgary Sales	December 2016	January 2017	Change	% Change
Detached	584	825	241	41.27%
Semi Detached	83	127	44	53.01%
Attached – Row	129	154	25	19.38%
Apartment	151	236	85	56.29%
Total City	947	1342	395	41.71%

Calgary Real Estate Sales Prices:

Prices are consistent with our Absorption rate with Detached and Semi Detached prices rising while Attached-Row houses and apartment condos decreased a little more as they are still in a buyer’s market position. My predictions for the next few months is more of the same trends.

Sales Prices	December 2016 Benchmark Price	January 2017 Benchmark Price	Change
Detached	500,400	501,900	1,500
Semi Detached	384,600	386,300	1,700
Attached – Row	307,100	305,900	-1,200
Apartment	269,900	269,200	-700
Total City	437,400	438,100	700

Sales Prices “Year to Date”

Sales Prices	Jan 1, 2017 Benchmark Price	January 2017 Benchmark Price	Change $	% Change
Detached	498,300	501,900	3,600	0.72%
Semi Detached	385,400	386,300	900	0.23%
Attached – Row	307,900	305,900	-2,000	-0.65%
Apartment	269,200	269,200	0	0.00%
Total City	435,400	438,100	2,700	0.62%

Price Sensitivity

**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.

Tags:Calgary House Prices, Calgary Housing Market, CREB Statistics Simplified
Posted in Blog, Real Estate Board's Statistics | Comments Closed

Feb 1, 2017 Calgary Real Estate Market Snapshot

Wednesday, February 1st, 2017

What is really happening in the Calgary Real Estate market?

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

*** Absorption Rate***

The absorption rate for all of Calgary increased this month meaning listings outpaced sales. Detached Homes and Row Homes (Townhouses) increased marginally and we saw larger increases in Semi-Detached and apartment condos.

	December 2016	January 2017	Change
Detached	3.01	3.17	0.16
Semi Detached	3.83	4.61	0.78
Attached – Row	4.75	4.73	-0.02
Apartment	7.59	8.40	0.81
Total City	4.04	4.34	0.31

Calgary Listing Inventory

January saw an increase of listings over December and this is to be expected as very few people want to list during the holidays. Normal trends would predict that over the next few months we will continue to see more listings so a further increase in inventory.

Inventory	December 2016	January 2017	Change
Detached	1719	1849	130
Semi Detached	368	383	15
Attached – Row	570	610	40
Apartment	1108	1269	161
Total City	3765	4112	347

Calgary Sales:

January saw an increase in sales in all categories except Semi Detached which is down by 13 sales. This increase is fully expected as there are always more people buying in January than in December. What comes as a surprise to me is that the increase over December is only 14 more sales. Personally I thought the increase would be more substantial. The interesting and possibly good news here is that our sales were up 24% from January of 2016.

Calgary Sales	December 2016	January 2017	Change	% Change
Detached	571	584	13	2.28%
Semi Detached	96	83	-13	-13.54%
Attached – Row	120	129	9	7.50%
Apartment	146	151	5	3.42%
Total City	933	947	14	1.50%

Calgary Real Estate Sales Prices:

Prices did not change substantially this month. Detached homes made the largest gain. I find it surprising that Apartment Condos gained a little this month. With such a high absorption rate I would predict apartment condos will lose more in the upcoming months.

Sales Prices	December 2016 Benchmark Price	January 2017 Benchmark Price	Change
Detached	498,300	500,400	+2,100
Semi Detached	385,400	384,600	-800
Attached – Row	307,900	307,100	-800
Apartment	269,200	269,900	+700
Total City	435,400	437,400	2,000

Sales Prices “Year to Date” – Same as Above

**Please note that these numbers include on 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.

Tags:calgary real estate prices, Calgary Real Estate Prices Feb 2017, Northwest Calgary Real Estate Prices
Posted in Blog, Real Estate Board's Statistics | Comments Closed

The Gord Piper & Associates Real Estate Blog

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

Calgary Real Estate Market Snapshot – Dec. 1, 2017

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August 1, 2017 Market Snapshot

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June 1, 2017 Calgary Real Estate Market Snapshot

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