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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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Nov 2014, Calgary Real Estate Market Snapshot

Tuesday, December 2nd, 2014

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 housing market softens slightly as we approach Christmas.  Single family homes and apartment Condos moved slightly toward a balanced market while the Townhouse market went slightly deeper into a Sellers market.  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 some people now wait until the New Year to list. Interestingly the decrease was about 40% less than our decrease in November last year.

 

Inventory

Oct 2014    

Nov 2014    

Change

Single Family Home

2780

2373

-408

Condo Townhouse    

568

511

-57

Condo Apartment  

1088

985

-103

Total

4436

3869

-567

 

Calgary Sales:

Typically at this time of year we also see sales numbers decreasing. Sales in November decreased in all categories. Compared to last year sales from October to November decreased slightly more than last year however sales numbers are still higher than November 2013.

 

Sales

Oct 2014    

Nov 2014    

Change

% Change

Single Family Home

1462

1181

-281

-.19

Condo Townhouse  

300

277

-23

-.07

Condo Apartment

385

324

-61

-.16

Total

2147

1782

-365

.17

 

 

 

 

Calgary Real Estate Sales Prices:

In November the benchmark price decreased for single family homes and increased for Townhouses and apartment condos. The change is so small it’s insignificant. December pricing should remain fairly stable. Based on what I am seeing my early prediction for the New Year is for prices to continue to increase for Single family homes, and less so for Townhouses. Apartment condo prices should remain fairly stable as we are in a balanced market state.  

Sales Prices

Oct 2014   Benchmark Price

Nov 2014   Benchmark Price

Change

Single Family Homes

513,500

511,300

-2,200

Condo Townhouse  

337,800

338,600

+800

Condo Apartment  

299,800

300,700

+900

 

Sales Prices “Year to Date”

Year to date prices – Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices

Dec 31 2013 Benchmark Price

Nov 2014   Benchmark Price

Change

$

% Change

Single Family Homes

472,200

511,300

39,100

+9.3%

Condo Townhouse  

307,100

338,600

31.500

+10.25%

Condo Apartment  

278,600

300,700

22,100

+7.9%

 

 

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 Single Family homes and Apartment Condos while Townhouses decreased slightly. This moves Single family homes closer towards a balanced market, Townhouses in a deeper Sellers market and apartment condos move stronger into a balanced market.

Absorption Rate

Oct 2014  

Nov 2014  

Change

Single Family Homes

1.90

2.01

+.11

Condo Townhouse  

1.89

1.84

-.05

Condo Apartment  

2.83

3.04

+.21

Total Calgary

2.06

2.17

+.11

 

**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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October 2014, Calgary Real Estate Market Snapshot

Monday, November 3rd, 2014

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/

An interesting month in the Calgary Real Estate market. Apartment Condos and Townhouses continued to slowly shift away from a seller’s market towards a more balanced market. I find it interesting that Single Family homes moved slightly deeper into a Seller’s market. Attached please find a copy of the stats package from the Calgary Real Estate Board for the month of Oct 2014.  Below is a summary of some key areas with a few short comments.

 

Calgary Listing Inventory: Inventory levels typically decrease at this time of year as some people now wait until the New Year to list. That was the case for Single Family homes. Townhouses and Apartment condos increased very slightly but not big enough to make any substantial difference.

 

Inventory Sept 2014     Oct 2014     Change
Single Family Home 2961 2780 -181
Condo Townhouse 552 568 +16
Condo Apartment 1081 1088 +7
Total 4594 4436 -158

 

Calgary Sales:

Typically at this time of year we also see sales numbers decreasing. Sales in October decreased marginally for Townhouses and Apartment Condos while sales for Single Family Homes increased. I believe this may be still a backlog of buyers waiting for the perfect home to come on the market. It is critical to note that even though the sales are decreasing we are still substantially above our sales for 2013.

Sales Sept 2014     Oct 2014     Change % Change
Single Family Home 1397 1462 +65 +4.6
Condo Townhouse 318 300 -18 -5.6
Condo Apartment 432 385 -47 -10.9
Total 2267 2147 -120 -5.3

 

 

Calgary Real Estate Sales Prices:

In October, the benchmark price increased for all categories. Based on what I am seeing my prediction is for prices to continue to increase for Single family homes, and less so for Townhouses but Apartment condo prices should flatten as they are now in a balanced market state. If you have been following my reports you will notice the increases are continuing to get smaller every month.

Sales Prices Sept   2014   Benchmark Price Oct  2014     Benchmark Price Change
Single Family Homes 512,800 513,500 +700
Condo Townhouse 336,300 337,800 +1500
Condo Apartment 298,800 299,800 +1000

 

Sales Prices “Year to Date”

Year to date prices – Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices Dec 31 2013 Benchmark Price Oct  2014 Benchmark Price Change$ % Change
Single Family Homes 472,200 513,500 +41,300 8.75
Condo Townhouse 307,100 337,800 +30,700 +9.99
Condo Apartment 278,600 299,800 +21,200 +7.61

 

 

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 Townhouses and Apartment Condos and decreased for single family homes. This puts single family homes in more of a sellers market while it puts apartment condos into a balanced market.

Absorption Rate Sept 2014   Oct 2014   Change
Single Family Homes 2.11 1.90 -.12
Condo Townhouse 1.74 1.89 +.15
Condo Apartment 2.50 2.83 +.33
Total Calgary 2.14 2.06 -.08

 

**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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Calgary Real Estate Market Snapshot Sept 2014

Friday, October 3rd, 2014

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!  The Calgary housing market is deeply  entrenched is a Sellers Market however is slowly changing and is moving toward a balanced market.

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/

 

Calgary Listing Inventory: Inventory levels for Single Family homes decreased while everything else increased this month. Typically this time of year we show increases in inventory. Single family home inventory went down which is not normal. I believe the reason is that we still have a large backlog of buyers waiting for the perfect home to come on the market, especially in the starter home price range.

 

Inventory Aug 2014 Sept 2014     Change
Single Family Home 3021 2961 -60
Condo Townhouse 437 552 +115
Condo Apartment 1056 1081 +25
Total 4514 4594 +80

 

Calgary Sales:

Sales in September decreased marginally in all categories. Sales numbers decreasing is very normal at this time of year.  It is critical to note that even though the sales are decreasing we are still substantially above our sales for 2013.

Sales Aug 2014 Sept 2014     Change % Change
Single Family Home 1477 1398 -79 -5.3
Condo Townhouse 338 318 -20 -5.9
Condo Apartment 452 432 -20 -4.4
Total 2267 2148 -119 -5.2

 

Calgary Real Estate Sales Prices:

In September, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase moderately for a few more months as we move from a seller’s market to a more balanced market. If you have been following my reports you will notice the increases are continuing to get smaller every month.

Sales Prices Aug 2014 Benchmark Price Sept   2014   Benchmark Price Change
Single Family Homes 512,300 512,800 +500
Condo Townhouse 328,300 330,200 +1900
Condo Apartment 298,200 298,800 +600

 

Sales Prices “Year to Date”

Year to date prices – Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices Dec 31 2013 Benchmark Price Sept 2014 Benchmark Price Change$ % Change
Single Family Homes 472,200 512,800 +40,600 +8.6
Condo Townhouse 307,100 330,200 +23,100 +7.5
Condo Apartment 278,600 298,800 +20,200 +7.3

 

 

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 in all categories. For Single Family homes the ratio went up even though our inventory decreased – this is because sales decreased more. Condo Townhouses took the largest jump of .45, I believe this is just catching up as last month it went opposite of everything else.

Absorption Rate Aug 2014 Sept 2014   Change
Single Family Homes 2.05 2.11 +.06
Condo Townhouse 1.29 1.74 +.45
Condo Apartment 2.33 2.50 +.17
Total Calgary 1.99 2.14 +.15

 

**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.

 

If you know anyone else who might enjoy seeing our monthly summary please feel free to share

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August 2014, Calgary Real estate Market Snapshot

Monday, September 1st, 2014

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!  The Calgary housing market is deeply  entrenched is a Sellers Market however is showing slow signs of moving toward a balanced market.

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/

 

Calgary Listing Inventory: Inventory levels decreased for marginally in all categories. While this is typical for this time of year the challenge is we are starting with a low inventory so a decrease can push us back towards a stronger Seller’s market. I believe the reason is that we still have a large backlog of buyers waiting for the perfect home to come on the market, especially in the starter home price range.

Inventory July 2014 Aug 2014 Change
Single Family Home 3056 3021 -35
Condo Townhouse 536 437 -99
Condo Apartment 1070 1056 -14
Total 4662 4514 -148

 

Calgary Sales:

Sales in August decreased marginally in all categories except apartment condos. Sales numbers decreasing is very normal at this time as people are focused on summer vacations.  Apartment condos increased and I believe that’s simply that last month they decreased more than the other categories.

Sales July 2014 Aug 2014 Change % Change
Single Family Home 1553 1477 -76  
Condo Townhouse 339 338 -1  
Condo Apartment 444 452 +8  
Total 2336 2267 -69  

 

 

Calgary Real Estate Sales Prices:

In August, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase for a few more months as we move from a seller’s market to a more balanced market. If you have been following my reports monthly the increase is smaller than what we have been seeing.

Sales Prices July 2014

Benchmark Price

Aug 2014

Benchmark Price

Change
Single Family Homes 511,600 512,300 +700
Condo Townhouse 327,000 328,300 +1,300
Condo Apartment 298,100 298,200 +100

 

Sales Prices “Year to Date”

Year to date prices – same as above, Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices Dec 31 2013 Benchmark Price Aug 2014Benchmark Price Change

$

% Change
Single Family Homes 472,200 512,300 40,100 +8.5
Condo Townhouse 307,100 328,300 21,200 +6.9
Condo Apartment 278,600 298,200 19,600 +7.0

 

 

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 single family homes while it decreased for Townhouses and Apartment Condos. This I find interesting as we have been moving from a strong seller’s market towards a buyer’s market (although slowly). My only explanation here is that there is still a backlog of buyers especially in the starter home price ranges putting more pressure on Condos and Townhouses.

 

Absorption Rate July 2014 Aug 2014   Change
Single Family Homes 1.97 2.05 +.08
Condo Townhouse 1.58 1.29 -.29
Condo Apartment 2.40 2.33 -.07
Total Calgary 1.99 1.99 –

**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.

 

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

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July 2014, Calgary Real Estate Market Snapshot

Monday, August 4th, 2014

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!  The Calgary housing market is deeply  entrenched is a Sellers Market with very little supply and strong demand.  In July we started seeing a slight shift towards a buyers market but we have a long way to go.

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/

 

Calgary Listing Inventory: Inventory levels decreased for single family homes and stayed flat for townhouses and condos. Normally our inventory would show a much higher increase in July. I speculate the reason is that we still have a large backlog of buyers waiting for the perfect home to come on the market. I am surprised that the levels did not increase more than they did.

Inventory June 2014 July 2014 Change
Single Family Home 3128 3056 -72
Condo Townhouse 523 536 +13
Condo Apartment 1071 1070 -1
Total 4722 4662 -60

 

Calgary Sales:

Sales in July decreased in all categories. Sales numbers decreasing is very normal at this time as people start to go on summer vacations and the city shuts down for the Stampede. No surprises here.

Sales June 2014     July 2014 Change % Change
Single Family Home 1769 1553 -216 -12.2
Condo Townhouse 427 339 -88 -20.6
Condo Apartment 474 444 -30 -6.3
Total 2670 2336 -334 -12.5

 

 

Calgary Real Estate Sales Prices:

In June, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase for a few more months as we move from a seller’s market to a more balanced market. If you have been following my reports monthly the increase is smaller than what we have been seeing.

Sales Prices June 2014     Benchmark Price July 2014

Benchmark Price

Change
Single Family Homes 509,700 511,600 +1900
Condo Townhouse 326,000 327,000 +1,000
Condo Apartment 299,700 298,100 -1,600

 

Sales Prices “Year to Date”

Year to date prices – same as above, Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices Dec 31 2013 Benchmark Price July 2014     Benchmark Price Change

$

% Change
Single Family Homes 472,200 511,600 +39,400 +8.3
Condo Townhouse 307,100 327,000 +19,900 +6.5
Condo Apartment 278,600 298,100 +19,500 +7.00

 

 

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: For the fourth month in a row our absorption rate has increased. This indicates that the market is changing and we are moving towards a balanced market with apartment condos leading the way. Please note that we are so deep in a Seller’s market that it will take us a few more months of this trend to reach a balanced market. My prediction is that this trend will continue and by September or October we will be approaching a balanced market – sooner for apartment condos.

Absorption Rate June 2014   July 2014   Change
Single Family Homes 1.77 1.97 +.2
Condo Townhouse 1.22 1.58 +.36
Condo Apartment 2.26 2.40 +.14
Total Calgary 1.77 1.99 +.22

**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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June 2014, Calgary Real Estate Market Snapshot

Tuesday, July 1st, 2014

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!  The Calgary housing market is deeply  entrenched is a Sellers Market with very little supply and strong demand.  In June we started seeing a slight shift towards a buyers market but we have a long way to go.

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/

 

 

Calgary Listing Inventory: Inventory levels increased this month in all categories except townhouses. Increasing inventory levels is very normal at this time of year as many sellers wait until spring to sell. I am actually surprised that the levels did not increase more than they did.

Inventory May 2014   June 2014 Change
Single Family Home 2947 3128 +181
Condo Townhouse 576 523 -53
Condo Apartment 1051 1071 +20
Total 4574 4722 +148

 

Calgary Sales:

Sales in June decreased in all categories except for Townhouses which increased slightly. Sales numbers decreasing is very normal at this time as people start to go on summer vacations. The increase in sales in Townhouse is most likely that there is still a pent up demand and people were just waiting for the right one to come on the market.

Sales May 2014   June 2014     Change % Change
Single Family Home 2027 1769 -258 -14.5%
Condo Townhouse 410 427 +17 +3.9
Condo Apartment 511 474 -37 -7.8%
Total 2948 2670 -278 -10.4%

 

 

Calgary Real Estate Sales Prices:

In June, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase for a few more months as we move from a seller’s market to a more balanced market.

Sales Prices May 2014   Benchmark Price June 2014     Benchmark Price Change
Single Family Homes 504,300 509,700 +5,400
Condo Townhouse 321,400 326,000 +4,600
Condo Apartment 295,400 299,700 +4,300

 

Sales Prices “Year to Date”

Year to date prices – same as above, Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices Dec 31 2013 Benchmark Price June 2014   Benchmark Price Change$ % Change
Single Family Homes 472,200 509,700 +37,500 +7.94
Condo Townhouse 307,100 326,000 +18,900 +6.15
Condo Apartment 278,600 299,700 +21,100 +7.58

 

 

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: For the third month in a row our absorption rate has increased. This indicates that the market is changing and we are moving towards a balanced market. Please note that we are so deep in a Seller’s market that it will take us a few more months of this trend to reach a balanced market state. My prediction is that this trend will continue and by September or October we will be approaching a balanced market – maybe sooner for apartment condos.

Absorption Rate May 2014   June 2014   Change
Single Family Homes 1.45 1.77 +.32
Condo Townhouse 1.40 1.22 -.18
Condo Apartment 2.06 2.26 +.20
Total Calgary 1.55 1.77 +.22

**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.

 

If you know anyone else who might enjoy seeing our monthly summary please feel free to pass this on. Gord, Eric & Brent

 

 

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