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Nov 1, 2016 Calgary Real Estate Market Snapshot

Wednesday, November 2nd, 2016
Welcome to our Nov 2016 Calgary Real Estate Market snapshot.
The big news for October is that the government changed the rules for mortgage qualification.  This month the stats show increased sales and declining inventory and I believe it is 100% due to people scrambling to get their home before the rules changed.  Next month we may see a totally different picture but only time will tell for sure.
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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

*** Absorption Rate***  

The absorption rate for all categories decreased this month.  I believe this is because we saw a spike in sales due to people entering the market before the mortgage rules changed.  It should be interesting to see our stats for next month once the new rules have been in place for a while.

Absorption Rate Cont. 

  July 2016 August  2016 Change
Detached 2.99 2.49 -0.50
Semi Detached 3.30 2.96 -0.34
Attached – Row 4.88 4.21 -0.67
Apartment 8.26 6.14 -2.11
Total City 3.95 3.30 -0.65

 

Calgary Listing Inventory

October Inventory levels decreased in all categories.   I believe that the change is due to increased sales and a normal amount of new listings.  The bottom line is there are less Calgary Homes and Condos for sale than last month.

Inventory July 2016 August  2016 Change
Detached 2823 2565 -258
Semi Detached 515 486 -29
Attached – Row 888 834 -54
Apartment 1651 1542 -109
Total City 5877 5427 -450

 

Calgary Sales:

Sales in all categories increased this month.  Again I believe that the new mortgage rules are 100% responsible for this increase.  For many people if they did not buy before the changes they would simply not be able to qualify so this created a sense of urgency for buyers.  Note that apartment condos saw the largest increase (25.5%) which was needed in this sector.

Calgary Sales   July 2016 August  2016 Change % Change
Detached 945 1031 86 9.10%
Semi Detached 156 164 8 5.13%
Attached – Row 182 198 16 8.79%
Apartment 200 251 51 25.50%
Total City 1488 1644 156 10.48%

 

Calgary Real Estate Sales Prices: 

All categories showed a slight decrease in prices this month.  Typically you will see a direct correlation between the absorption rate and prices – this month that is not the case and I believe it is again caused by the government rule changes and everyone trying to figure out what the market might look like next month.  Attached – row houses (townhouses) saw the largest decrease even though apartment condos have the highest absorption rate.

 

  Sales Prices July 2016 Benchmark Price    August  2016

Benchmark Price

 Change
Detached 503,400 502,200 -1,200
Semi Detached 386,500 386,500 0
Attached – Row 311,100 308,100 -3,000
Apartment 274,700 273,800 -900
Total City 440,400 438,900 -1,500

 

 

Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  August 2016 Benchmark Price Change

$

% Change
Detached 514100 502,200 -11,900 -2.31%
Semi Detached 393100 386,500 -6,600 -1.68%
Attached – Row 318500 308,100 -10,400 -3.27%
Apartment 288,000 273,800 -14,200 -4.93%
Total City 452800 438,900 -13,900 -3.07%

 

 

Community Variations 

**Please note that these numbers 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.

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Oct 1, 2016 Calgary Real Estate Market Snapshot

Tuesday, October 4th, 2016

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.  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. This is must have information for Calgary Home Buyers and Calgary Home Sellers.

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***  

In my opinion this is the most critical number to look at.   Attached homes deceased by .30 this month.  Detached homes & Row Homes showed a small increase while apartment condos increased the most substantially adding 2.37 months of inventory.

 

July 2016 August  2016 Change
Detached 2.78 2.99 0.21
Semi Detached 3.60 3.30 -0.30
Attached – Row 4.77 4.88 0.11
Apartment 5.88 8.26 +2.37
Total City 3.61 3.95 0.34

 

Calgary Listing Inventory

September Inventory levels increased in all categories this month.   **** The increase was mostly in detached homes and I believe the reason is because the Real Estate Board merged commercial into the residential system and so it was simply a data change and not that true market.

Inventory July 2016 August  2016 Change
Detached 2720 2823 103
Semi Detached 497 515 18
Attached – Row 868 888 20
Apartment 1571 1651 80
Total City 5656 5877 221

 

Calgary Sales:

Sales in all categories except apartment condos stayed steady this month.  Apartment condos showed a 25% decrease from last month.   Of interest this is the first month where year over year sales showed an increase which is very positive news.

Calgary Sales   July 2016 August  2016 Change % Change
Detached 980 945 -35 -3.57%
Semi Detached 138 156 18 13.04%
Attached – Row 182 182 0 0.00%
Apartment 267 200 –67 -25.09%
Total City 1567 1488 -79 -5.04%

 

Calgary Real Estate Sales Prices: 

As you can see below there was not much movement in prices this month.

 

  Sales Prices July 2016 Benchmark Price    August  2016

Benchmark Price

 Change
Detached 503,200 503,400 +200
Semi Detached 387,100 386,500 -600
Attached – Row 310,000 311,100 +1,100
Apartment 274,900 274,700 -200
Total City 440,200 440,400 +200

 

Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  August 2016 Benchmark Price Change

$

% Change
Detached 514100 503,400 -10,700 -2.08%
Semi Detached 393100 386,500 -6,600 -1.68%
Attached – Row 318500 311,100 -7,400 -2.32%
Apartment 288,000 274,700 -13,300 -4.62%
Total City 452800 440,400 -12,400 -2.74%

 

 Price Sensitivity

**Please note that these numbers 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

 

 

 

 

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Sept 1, 2016 Calgary Real Estate Market Snapshot

Friday, September 2nd, 2016

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 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

*** Absorption Rate***  

In my opinion this is the most critical number to look at.  All categories except for apartment condos increased slightly this month.  Apartment condos took a small decrease and this is most likely balancing out from last month when it increased substantially.  In summary Detached and Attached homes are doing well while row houses and apartment condos are showing an oversupply of inventory compared to sales.

  July 2016 August  2016 Change
Detached 2.47 2.78 0.30
Semi Detached 2.88 3.60 0.72
Attached – Row 4.43 4.77 0.34
Apartment 6.11 5.88 -0.23
Total City 3.27 3.61 0.34

 

Calgary Listing Inventory

August inventory levels stayed almost the same as July Levels

Inventory July 2016 August  2016 Change
Detached 2746 2720 -26
Semi Detached 521 497 -24
Attached – Row 886 868 -18
Apartment 1558 1571 13
Total City 5711 5656 -55

 

Calgary Sales:

Sales in all categories decreased this month which in my opinion is very normal for this time of year with summer holidays and many peoples focusing on getting kids ready to go back to school.

Important note:  Sales from July to August 2015 decreased by 193 or 11.7%  compared to 10.2% this year.

Calgary Sales   July 2016 August  2016 Change % Change
Detached 1110 980 -130 -11.71%
Semi Detached 181 138 -43 -23.76%
Attached – Row 200 182 -18 -9.00%
Apartment 255 267 12 4.71%
Total City 1745 1567 -178 -10.20%

 

Calgary Real Estate Sales Prices: 

Pricing changes in August were not drastic.  Detached and Semi Detached increased while Attached-Row and Apartment categories decreased with the largest decrease in the Apartment category which is the sector with the highest absorption rate.   I would expect further price declines in the Apartment condo sector.

  Sales Prices July 2016 Benchmark Price    August  2016

Benchmark Price

 Change
Detached 502,300 503,200 900
Semi Detached 385,200 387,100 1,900
Attached – Row 310,300 310,000 -300
Apartment 277,000 274,900 -2,100
Total City 440,000 440,200 200

  

Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  August 2016 Benchmark Price Change

$

% Change
Detached 514100 503,200 -10,900 -2.12%
Semi Detached 393100 387,100 -6,000 -1.53%
Attached – Row 318500 310,000 -8,500 -2.67%
Apartment 288,000 274,900 -13,100 -4.55%
Total City 452800 440,200 -12,600 -2.78%

Point of Interest

Just my personal opinion but it is important to note that buyers are still acting as if it is a buyer’s market. What I mean here is they are shopping carefully looking for value and taking their time to make decisions.

 Price Sensitivity

It is also important to note that homes in the lower price ranges are still moving much quicker than homes in the higher price ranges.

**Please note that these numbers 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, would like to receive it monthly or Real Estate questions please feel free to contact us.

 

 

 

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August 1, 2016 Calgary Real Estate Market Snapshot

Tuesday, August 2nd, 2016

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 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

 

*** Absorption Rate***  

In my opinion this is the most critical number to look at.   All categories increased slightly this month except Apartment condos which increased by 1.16.   This is a reverse trend from last month where all categories decreased.   As you can see the apartment condo market is still favouring Buyers the most.

  June 2016 July 2016 Change
Detached 2.28 2.46 0.18
Semi Detached 2.88 2.88 0.01
Attached – Row 3.90 4.45 0.55
Apartment 4.96 6.12 1.16
Total City 2.95 3.27 0.32

 

Calgary Listing Inventory

July saw a decrease in inventory in all categories except Apartment Condos which increased very slightly.   This decrease is due to less new listings coming to market.

 

Inventory June 2016 July 2016 Change
Detached 2923 2727 -196
Semi Detached 532 522 -10
Attached – Row 975 882 -93
Apartment 1543 1554 11
Total City 5973 5685 -288

 

Calgary Sales:

Sales in all categories decreased this month which in my opinion is very normal for this time of year with summer holidays many peoples focus.

Calgary Sales   June 2016 July 2016 Change % Change
Detached 1282 1108 -174 -13.57%
Semi Detached 185 181 -4 -2.16%
Attached – Row 250 198 -52 -20.80%
Apartment 311 254 -57 -18.33%
Total City 2028 1741 -287 -14.15%

 

Calgary Real Estate Sales Prices: 

Pricing changes in July were minimal with all categories decreasing slightly.  Again apartment condos decreased a little more and this make sense to me with the higher absorption rate.  I would expect further price declines in the Apartment condo sector.

  Sales Prices June  2016

Benchmark Price 

  July 2016

Benchmark Price

 Change
Detached 502,400 502,300 -100
Semi Detached 385,600 385,200 -400
Attached – Row 310,800 310,300 -500
Apartment 278,200 277,000 -1,200
Total City 440,400 440,000 -400

 

 Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  July  2016

Benchmark Price

 Change

$

% Change
Detached 514100 502,300 -11,800 -2.30%
Semi Detached 393100 385,200 -7,900 -2.01%
Attached – Row 318500 310,300 -8,200 -2.57%
Apartment 288,000 277,000 -11,000 -3.82%
Total City 452800 440,000 -12,800 -2.83%

 

Price Sensitivity

It is also important to note that homes in the lower price ranges are still moving much quicker than homes in the higher price ranges.

**Please note that these numbers 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.

 

 

 

 

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June 1, 2016 Calgary Real Estate Market Snapshot

Thursday, June 2nd, 2016

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 and 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 2.8 to 4.0 Prices typically remain stable
Seller’s Market <2.8 Drives prices up

 

*** Absorption Rate***  

In my opinion this is the most critical number to look at.  Detached homes & Semi – detached homes are now back in a seller’s market. The only category not to decrease in absorption rate was apartment condos and they stayed flat.

April  2016 May  2016 Change
Detached 2.76 2.48 -0.28
Semi Detached 3.42 2.88 -0.54
Attached – Row 5.05 4.04 -1.01
Apartment 5.85 5.85 0.00
Total City 3.54 3.20 -0.34

 

Calgary Listing Inventory

May saw a slight decrease in Detached and Semi – Detached while Attached – Row and Apartment condos increased slightly.

Inventory April  2016 May  2016 Change
Detached 3127 3018 -109
Semi Detached 595 548 -47
Attached – Row 930 974 44
Apartment 1590 1608 18
Total City 6242 6148 -94

 

Calgary Sales:

Sales in all categories increased moderately again this month.  This is very typical for a spring market.  It is important to note that Sales are still down from normal levels but are increasing.  The big jump in sales this month was in the Attached – Row homes which increased by 31%.

Calgary Sales   April  2016 May  2016 Change % Change
Detached 1134 1217 83 7.32%
Semi Detached 174 190 16 9.20%
Attached – Row 184 241 57 30.98%
Apartment 272 275 3 1.10%
Total City 1764 1923 159 9.01%

 

Calgary Real Estate Sales Prices: 

Interesting that all categories decreased in prices.  In my opinion, I believe it is simply because of what is happening in the general Calgary economy and Buyers and Sellers are not aware of how the market has shifted direction and everyone is still acting like it’s a buyer’s market.  Buyers are bringing low offers, and sellers are happy just to get an offer and are willing to settle a little lower.

  Sales Prices April  2016

Benchmark Price 

   May   2016

Benchmark Price

 Change
Detached 501500 500500 -1000
Semi Detached 383600 383100 -500
Attached – Row 314800 313200 -1600
Apartment 280400 278500 -1900
Total City 441000 439700 -1300

 

Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  May  2016

Benchmark Price

 Change

$

% Change
Detached 514100 501500 -12600 -2.45%
Semi Detached 393100 383600 -9500 -2.42%
Attached – Row 318500 314800 -3700 -1.16%
Apartment 288000 280,400 -7,600 -2.64%
Total City 452800 441000 -11800 -2.61%

 

 Price Sensitivity

It is also important to note that homes in the lower price ranges are still moving much quicker than homes in the higher price ranges.

**Please note that these numbers 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 contact us.

 

TSW Real Estate Group

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May 1, 2016 Calgary Real Estate Market Snapshot

Tuesday, May 3rd, 2016

Newsflash – Detached homes enter into a sellers 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 and ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors.

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 2.8 to 4.0 Prices typically remain stable
Seller’s Market <2.8 Drives prices up

Before we get into this month’s report (for followers) it is important to note that the Calgary Real Estate Board made changes to categories again and this time for the better.  In past they used Attached Homes and now they have broken this into two categories –Semi Detached & Row (Townhouses). This makes more sense to me as they are quite different markets.

*** Absorption Rate***  

In my opinion this is the most critical number to look at.  Detached homes are now back in a seller’s market. Three months in a row the absorption rates have been on a steady decrease.  If you are someone sitting on the fence to see if prices will go down more my suggestion is to get off the fence especially if you are looking for a detached home.

  Mar  2016 April  2016 Change
Detached 3.08 2.76 -0.32
Semi Detached 4.04 3.42 -0.62
Attached – Row 4.87 5.05 0.18
Apartment 6.00 5.85 -0.15
Total City 3.85 3.54 -0.31

 Calgary Listing Inventory

April saw an increase in inventory in all categories and this is very typical for April.

Inventory Mar  2016 April  2016 Change
Detached 3094 3127 33
Semi Detached 582 595 13
Attached – Row 896 930 34
Apartment 1535 1590 55
Total City 6107 6242 135

Calgary Sales:

Sales in all categories increased again this month.  This is very typical for a spring market.  It is important to note that Sales are still down from normal levels but are increasing.

Calgary Sales   Mar  2016 April  2016 Change % Change
Detached 1004 1134 130 12.95%
Semi Detached 144 174 30 20.83%
Attached – Row 184 184 0 0.00%
Apartment 256 272 16 6.25%
Total City 1588 1764 176 11.08%

 

Calgary Real Estate Sales Prices: 

Interesting that all categories decreased in prices.  In my opinion, I believe it is simply because buyers and sellers are not aware of how the market has shifted direction and everyone is still acting like it’s a buyer’s market.  Buyers are bringing low offers, and sellers are happy just to get an offer and are willing to settle a little lower.

  Sales Prices March   2016

Benchmark Price 

April  2016

Benchmark Price

 Change
Detached 502400 501500 -900
Semi Detached 385600 383600 -2000
Attached – Row 318500 314800 -3700
Apartment 281300 280400 -900
Total City 442800 441000 -1800

 

 Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  April  2016

Benchmark Price

 Change

$

% Change
Detached 514100 501500 -12600 -2.45%
Semi Detached 393100 383600 -9500 -2.42%
Attached – Row 318500 314800 -3700 -1.16%
Apartment 288000 280,400 -7,600 -2.64%
Total City 452800 441000 -11800 -2.61%

 

 

Price Sensitivity

It is also important to note that homes in the lower price ranges are still moving much quicker than homes in the higher price ranges.

**Please note that these numbers 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.

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Posted in Blog, Real Estate Board's Statistics | Comments Closed

April 1, 2016 Calgary Real Estate Market Snapshot

Friday, April 1st, 2016

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 and ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors.

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 1.       Drives prices down
Balanced Market Between 2.8 to 4.0 2.       Prices typically remain stable
Seller’s Market <2.8 3.       Drives prices up

 

*** Absorption Rate***   

In my opinion this is the most critical number to look at.  This is now the second month in a row where the absorption rates have lowered.  The market has changed and Detached homes are now well into a balanced market.  This should reflect in no more price decreases.  Both Attached homes and apartment condos are still in a buyers market position but have moved substantially closer to a balanced market position.

Feb  2015 Mar  2016 Change
Detached 4.26 3.06 -1.20
Attached 4.99 4.52 -0.47
Apartment 8.35 5.97 -2.38
Total City of Calgary 5.04 3.83 -1.21

 

 Calgary Listing Inventory

In March our total inventory of listings in Calgary increased in all 3 categories.  This is very typical for this time of year as many sellers wait until the spring market and this year spring is arriving early.  This seasonal trend should continue for the next few months.

Inventory Feb  2016 March  2016 Change
Detached 2943 3077 134
Attached 1336 1473 137
Apartment 1402 1534 132
Total City of Calgary 5681 6084 403

 

Calgary Sales:

Sales in all categories Increased in February and all by a substantial amount.  It is normal for the season that sales increase but this is a lot more than just a seasonal adjustment.  Not sure everything behind it but it seems a lot of people who have been sitting on the fence are now out buying.

 

Sales Feb 2016 March 2016 Change % of Change
Detached 691 1005 314 45.44%
Attached 268 326 58 21.64%
Apartment 168 257 89 52.98%
Total City of Calgary 1127 1588 461 40.91%

 

 Calgary Real Estate Sales Prices:  

Prices for all categories decreased marginally this month.  Being that we were in a Buyers market for most of the month this makes sense to me. Moving forward I predict detached homes to remain flat and attached and apartment condos to continue to decrease slightly.

  Sales Prices Jan   2015Benchmark Price  Feb  2016Benchmark Price Change
Detached 504400 502400 -2000
Attached 338900 336500 -2400
Apartment 283600 281300 -2300
Total City of Calgary 445000 442800 -2200

 

  Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  Feb  2016Benchmark Price Change$ % Change
Detached 508700 502400 -6300 -1.24%
Attached 351400 336500 -14900 -4.24%
Apartment 285500 281,300 -4,200 -1.47%
Total City of Calgary 448800 442800 -6000 -1.34%

 

 Price Sensitivity

It is also important to note that homes in the lower price ranges are still moving much quicker than homes in the higher price ranges.

**Please note that these numbers 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

Posted in Blog, Real Estate Board's Statistics | Comments Closed

February Calgary Real Estate Market Snapshot

Tuesday, March 1st, 2016

Find out what is really happening in the 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 and ahead of most!

Below are the details along with a few comments, all numbers were taken from the Calgary Real Estate Boards Stats package for Realtors.

Calgary Listing Inventory

In February our total inventory of listings in Calgary increased in all 3 categories.  This is very typical for this time of year as many sellers wait until after the holiday season to list their homes.  This seasonal trend should continue for the next few months.

Inventory Jan 2016 Feb 2016 Change
Detached 2546 2943 397
Attached 1223 1336 113
Apartment 1253 1402 149
Total City of Calgary 5022 5681 659

 

Calgary Sales:

Sales in all categories Increased in February.   This again is seasonal and it’s important to note that this Feb we are 6.63% under sales for Feb 2015.

Sales Jan 2016 Feb 2016 Change % of Change
Detached 465 691 226 48.60%
Attached 170 268 98 57.65%
Apartment 129 168 39 30.23%
Total City of Calgary 764 1127 363 47.51%

  

Calgary Real Estate Sales Prices:  

Prices for all detached and attached homes showed decreases in February.  Apartment Condos showed a slight increase in price.  This may be because apartment condos have been showing price decreases for several months.

 

  Sales Prices Jan   2015

Benchmark Price 

Feb  2016

Benchmark Price

 Change
Detached 509300 504400 -4900
Attached 345600 338900 -6700
Apartment 281900 283600 1700
Total City of Calgary 447300 445000 -2300

 

Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  Feb  2016

Benchmark Price

 Change

$

% Change
Detached 508700 504400 -4300 -0.85%
Attached 351400 338900 -12500 -3.56%
Apartment 285500 283,600 -1,900 -0.67%
Total City of Calgary 448800 445000 -3800 -0.85%

 

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 2.8 to 4.0 Prices typically remain stable
Seller’s Market <2.8 Drives prices up

 

*** Absorption Rate***   

In my opinion this is the most critical number to look at.  Of interest the trend reversed this month.  The last several months our Absorption rate has been increasing and this is the first time in several months that it decreased.  Does this mean the market has changed – I would not be so quick and would suggest that one month does not make a trend so let’s watch.

Absorption Rate   Jan   2015 Feb  2016 Change
Detached 5.48 4.26 -1.22
Attached 7.19 4.99 -2.21
Apartment 9.71 8.35 -1.37
Total City of Calgary 6.57 5.04 -1.53

  

Price Sensitivity

It is also important to note that homes in the lower price ranges are still moving much quicker than homes in the higher price ranges.

**Please note that these numbers 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.

If you know anyone else who might enjoy seeing our monthly summary please share.

TSW Real Estate Group

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Calgary Real Estate Market Snapshot, March 1, 2015

Tuesday, March 3rd, 2015

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening in the Calgary Real Estate Market. The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate. A simple way to keep up to date and ahead of most!

Below are the details along with a few comments, all numbers were taken from the Calgary Real Estate Boards Stats package for Realtors.

Want to see stats specific to your Community? Register for our Market Report at http://www.calgaryareasolds.com/

Find out what your Neighbor’s home sold for – Register for our Market Report at http://www.calgaryareasolds.com/

 

Calgary Real Estate Stats have changed.

The Calgary Real Estate Board just changed the operating system for Realtors and with that the monthly Stats categories have changed as well. Here is the categories.

Old Categories New Categories What’s changed
Single Family Home Detached Does not include attached homes
Condo Townhouse Attached Now includes Attached Homes
Condo Apartment Apartment Condos Same

 

What this means is simply that attached homes are now taken out of the Single family category and lumped in with the townhouse category. There are a few other classification changes but they are very small and won’t show in the stats. This will affect a few of the numbers below.

 

Oil Prices and the impact on the Calgary Real Estate Market.

I am certainly not going to predict the future here as I am not an expert in the Oil Industry. What I find interesting is that in what I have been reading there seems to be two sides

  • Optimists are predicting that we will be back to at least the 60 – 70 dollar oil by mid year
  • The pessimists are saying that we will be low forever or years anyway

 

My Stats summary below will show you the facts of what has happened to date and some short term predictions. Please note that the market shifted very fast and when oil prices rebound the market can shift very quickly in the other direction. The big question is when? And if you have the answer to that please share it with me.

 

Now onto the Stats Market Snapshot

 

Calgary Listing Inventory: Yes, listings are up again in all categories this month. In Feb we usually see an increase from January and will typically see listing numbers increase in the next 3 to 4 months.

 

Inventory Jan 2015 Feb 2015 Change
Detached 2359 2830 +471
Attached 950 1190 +240
Apartment 1117 1276 +159
Total City of Calgary 4426 5296 +870

 

Calgary Sales:

While we are down considerably from last year’s sales the sales increased substantially over January. What I noticed is that first 2 weeks of Feb were similar to January the last 2 weeks picked up.

Sales Jan 2015 Feb 2015 Change % Change
Detached 535 739 +204 +38.1%
Attached 190 261 +71 +37.3%
Apartment 155 217 +62 +40.0%
Total City of Calgary 880 1217 +337 +39.3%

 

 

Calgary Real Estate Sales Prices:

Prices in all categories decreased this month. The largest decrease is in Apartment condos which have the highest inventory compared to sales. This trend will continue as long as the absorption rates stay where they are.

Sales Prices Jan 2014 Benchmark Price Feb 2015 Benchmark Price Change
Detached 518,600 516,000 -2,600
Attached 356,000 354,600 -1,800
Apartment 298,700 296,000 -2,700
Total City of Calgary 459,100 456,300 -2,800

 

Sales Prices “Year to Date”

Year to date prices – Again, all categories decreased but none substantially.

Sales Prices Dec 31, 2014 Benchmark Price Feb 2015 Benchmark Price Change

$

% Change
Detached 518,600 516,000 -$2,600 -.5%
Attached 356,200 354,600 -$2,200 -.61%
Apartment 300,400 296,000 -$4,400 -1.45%
Total City of Calgary 459,500 456,300 -$3,200 -.7%

 

  

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 2.8 to 4.0 Prices typically remain stable
Seller’s Market <2.8 Drives prices up

 

*** Absorption Rate:

The absorption rate decreased for all categories. What this means is that the relation to sales over inventory decreased. This change put detached homes back into a balanced market while all other categories stayed in a Buyers Market.

Absorption Rate Jan 2015 Feb 2015   Change
Detached 4.41 3.83 -.58
Attached 5.0 4.56 -.44%
Apartment 7.21 5.88 -1.33%
Total City of Calgary 5.03 4.35 -.68%

 

**Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just let me know. If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us.

 

 

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Jan. 2015 Calgary Real Estate Market Snapshot

Friday, January 2nd, 2015

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening in the Calgary Real Estate Market. The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate. A simple way to keep up to date and ahead of most!

Below are the details along with a few comments, all numbers were taken from the Calgary Real Estate Boards Stats package for Realtors.

Want to see stats specific to your Community? Register for our Market Report at http://www.calgaryareasolds.com/

Find out what your Neighbor’s home sold for – Register for our Market Report at http://www.calgaryareasolds.com/

An interesting month in the Calgary Real Estate Market.  Yes, Sales numbers for December dropped but the real question should be “Is this an annual trend or is it due to the price of oil?  Keep reading to find out.  Attached please find a copy of the stats package from the Calgary Real Estate Board for the month of December 2014.   Below is a summary of some key areas with a few short comments.

 

Calgary Listing Inventory:  As I would expect, all Inventory levels decreased this last month.  Inventories typically decrease at this time of year as many people wait until the New Year to list.  Of interest for the first 6 months of the year our inventory hovered about 600 listings lower than 2013 and for the last half of the year our inventory hovered about 600 listings online casino higher than last year.

 

Inventory  Nov  2014    Dec 2014 Change
Single Family Home 2373 1985 -388
Condo  Townhouse 511 434 -77
Condo  Apartment 985 823 -162
Total 3869 3242 -627

 

Calgary Sales: 

Typically at this time of year we also see sales numbers decreasing.  Sales in December decreased in all categories.  Yes, this drop looks drastic but wait…… This year the drop from November to December was 39.2% and for 2013 the drop was 32.1%  Still a drop but not as drastic as it appears.

 

Sales Nov  2014    Dec 2014 Change % Change
Single Family Home 1181 708 -473 -40.0
Condo  Townhouse 277 157 -120 -43.3
Condo Apartment 324 218 -106 -32.7
Total 1782 1083 -699 -39.2

 

 

Calgary Real Estate Sales Prices:  

In December the benchmark price decreased very slightly for all categories.  The change is so small it’s really insignificant.   Now that we have moved to a balanced market position pricing should remain stable.

  Sales Prices Nov  2014    Benchmark Price  Dec 2014 Benchmark Price Change
Single Family Homes 511,300 510,900 -$400
Condo Townhouse 338,600 337,300 -$1300
Condo  Apartment 300,700 300,300 -$400

 

Sales Prices “Year to Date”   

Year to date prices – Prices have increased in all categories and exceeded most predictions for what would happen in 2014.  Good news if you are a homeowner.

Sales Prices Dec  31 2013  Benchmark Price  Dec 2014 Benchmark Price Change$ % Change
Single Family Homes 472,200 510,900 37,800 8.0
Condo Townhouse 307,100 337,300 30,200 9.8
Condo  Apartment 278,600 300,300 21,700 7.8

 

 

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
Balanced Market Between 2.8 to 4.0
Seller’s Market <2.8

 

*** Absorption Rate:   

This month the absorption rate increased for all categories.  If you have been following my stats this is the largest change that we have seen in some time.   Townhouses remain in a sellers market position  but both Condos and Single Family homes have moved into a balanced market position.

 

Absorption Rate   Nov  2014    Dec 2014 Change
Single Family Homes 2.01 2.80 .79
Condo Townhouse 1.84 2.76 .92
Condo  Apartment 3.04 3.78 .74
Total Calgary 2.17 2.99 .82

 

**Please note that these numbers do change on a community basis and more so for towns.  If you would like to find stats on your community just let me know.  If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us.

 

 

 

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