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Nov 2014, Calgary Real Estate Market Snapshot

Tuesday, December 2nd, 2014

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.

Tags:Calgary Home Prices, calgary real estate, Calgary Real Estate Market, Calgary Real Estate Statitics, CREB STATS
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October 2014, Calgary Real Estate Market Snapshot

Monday, November 3rd, 2014

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

Tags:Calgary, Calgary Home Prices, Calgary Housing Market, calgary real estate, Calgary Real Estate Board, Calgary Real Estate Stats
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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

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

Tags:Calgary, Calgary Home Prices, calgary market, calgary real estate, calgary real estate prices, Calgary Real Estate Stats, Northwest Calgary Real Estate Prices
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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	–

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

Tags:buying a home, Calgary, calgary real estate prices, Calgary Real Estate Stats, Sell my home
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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

Tags:Calgary Condos, Calgary Home Prices, calgary market, Calgary Real Estate Stats, Northwest Calgary Real Estate Prices
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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:

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

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

Tags:Calgary, Calgary Condos, calgary real estate, calgary real estate prices, Calgary Real Estate Stats, realestatecalgary
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June 2014 Real Estate Market Snapshot

Monday, June 2nd, 2014

Want to know 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 on the Market. The Calgary Real Estate market continues to show signs of a change in direction bringing good news for home buyers.

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. This is what normally happens at this time of year as many people like to wait till spring to list their home. This year Sellers are also seeing a good opportunity to sell so I predict that listings are going to continue to increase. One interesting thing to note is that many sellers coming to the market are hoping to cash in on the seller’s market and are listing their homes substantially higher than the market will pay. Home’s that are listed at or slightly above market values are still often getting competing offers and are selling in the first day or two while sellers fishing for above market value are just adding to our inventory of listing.

Inventory	April 2014	May 2014	Change
Single Family Home	2445	2947	+502
Condo Townhouse	445	576	+131
Condo Apartment	898	1051	+153
Total	3788	4574	+786

Calgary Sales:

Sales in May increased in every category over last month which is to be expected at this time of year. One reason for this increase is that with more inventory buyers have more selection. Trends show that next month we should see a flattening or a slight decline in sales over this month.

Sales	April 2014	May 2014	Change	% Change
Single Family Home	1736	2027	+291	+17%
Condo Townhouse	360	410	+50	+14%
Condo Apartment	449	511	+62	+14%
Total	2545	2948	+403	+15.8%

Calgary Real Estate Sales Prices:

In May, 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	April 2014 Benchmark Price	May 2014 Benchmark Price	Change
Single Family Homes	496,700	504,300	+7,600
Condo Townhouse	316,700	321,400	+4,700
Condo Apartment	291,700	295,400	+3,700

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 and not so good news for those wanting to get into the market.

Sales Prices	Dec 31 2013 Benchmark Price	May 2014 Benchmark Price	Change$	% Change
Single Family Homes	472,200	504,300	+32,100	6.8%
Condo Townhouse	307,100	321,400	+14,300	4.7%
Condo Apartment	278,600	295,400	+16,800	6.0%

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: For the second month in a row our absorption rate has increased. This indicates to me that the market is starting to change 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 July or August we will be approaching a balanced market – sooner for apartment condos.

Absorption Rate	April 2014	May 2014	Change
Single Family Homes	1.41	1.45	+.04
Condo Townhouse	1.24	1.40	+.16
Condo Apartment	2.0	2.06	+.06
Total Calgary	1.48	1.55	+.07

Tags:Calgary Home Prices, Calgary Housing Market Forecast, calgary real estate prices, housing statistics calgary, sell my home calgary
Posted in Blog, Real Estate Board's Statistics | Comments Closed

May 2014, Calgary Real Estate Market Snapshot

Saturday, May 3rd, 2014

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market.В This showsВ whatвЂ™s really happening in the Calgary Real Estate Market.В The market is drivenВ by supply and demand so here we show the inventory (supply) and sales (demand) and the effect onВ the price ofВ Calgary Real Estate.В В В A simple way to keep up to date and ahead ofВ most!В TheВ Calgary housing market is deeplyВ entrenched is a Sellers Market with very littleВ supply and strong demand.В В LastВ monthВ (March) sales increased by 38% and our inventory only increased by 12.0%. This month (April)В sales increased by only 2.4% while inventory increased by 17.2%.

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

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

Good news for home buyers.В The Calgary housing market is still very busy however it is finally showing signs of change.

Calgary Listing Inventory: Inventory levels increased this month in all categories. This is what normally happens at this time of year. The interesting thing is that many sellers coming to the market are hoping to cash in on the sellerвЂ™s market and are listing their homes substantially higher than the market will pay. HomeвЂ™s that are listed at or slightly above market values are still often getting competing offers and are selling in the first day or two.

Inventory	March 2014В В	April 2014В В	Change
Single Family Home	2052	2445	393
Condo Townhouse	389	445	56
Condo Apartment	791	898	107
Total	3232	3788	556 or 17.2%

Calgary Sales:

Sales in April increased in every categoryВ over last month which isВ to be expected at this time of year. Again interesting the total sales increase over last month was only 2.4%. Substantially lower than in previous months.

Sales	March 2014В В	April 2014В В	Change	% Change
Single Family Home	1699	1736	37	2.1
Condo Townhouse	341	360	19	5.5
Condo Apartment	445	449	4	.9
Total	2485	2545	60	2.4

Calgary Real Estate Sales Prices:

In April, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase for a few more months until we move from a sellerвЂ™s market to a more balanced market.

Sales Prices	March 2014В В Benchmark Price	April 2014В В Benchmark Price	Change
Single Family Homes	490,600	496,700	6,100
Condo Townhouse	313,100	316,700	3,600
Condo Apartment	287,200	291,700	4,500

Sales Prices вЂњYear to DateвЂќ

Year to date prices вЂ“ same as above, Prices have increased in all categories. Good news if you are a homeowner and not so good news for those wanting to get into the market.

Sales Prices	Dec 31 2013 Benchmark Price	April 2014В В Benchmark Price	Change $	% Change
Single Family Homes	472,200	496,700	24,500	5.19
Condo Townhouse	307,100	316,700	9,600	3.1%
Condo Apartment	278,600	291,700	13,100	4.7%

Absorption Rate (Months of Inventory) В (the inventory divided by the number of sales in the last month). What does this mean you might ask?

BuyerвЂ™s Market	>4.0
Balanced Market	Between 2.8 to 4.0
SellerвЂ™s Market	<2.8

Absorption Rate: This is where it gets interesting. One month does not make a trend but it can certainly start one. For the first time in almost a year the increase in inventory is substantially larger than the increase in sales. This means that we are moving closer to a balanced market however we still have a long ways to go to get to that point. My prediction is that this trend will continue and by July or August we will be approaching a balanced market вЂ“ sooner for apartment condos.

Absorption Rate	March 2014В В	April 2014В В	Change
Single Family Homes	1.21	1.41	.20
Condo Townhouse	1.14	1.24	.1
Condo Apartment	1.78	2.0	.22
Total Calgary	1.30	1.48	.18

Tags:Calgary, Calgary Home Prices, calgary real estate, Calgary Real Estate Stats, sell my home calgary
Posted in Blog, Real Estate Board's Statistics | Comments Closed

Calgary Real Estate Market Snapshot April 2014

Monday, March 31st, 2014

Want to know 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 on the Market. The Calgary housing market is deeply entrenched is a Sellers Market with very little supply and strong demand. This month sales increased by 38% and our inventory only increased by 12.0%.

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

Below is a summary of some key areas with a few short comments.

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. This is very normal for this time of year however the increase is not enough to keep pace with the increase in sales. There is still a shortage of homes on the market and the good ones are selling very fast, usually in the first day with competing offers.

Inventory	February 2014	March 2014	Change
Single Family Home	1894	2052	+158
Condo Townhouse	324	389	+223
Condo Apartment	677	791	+114
Total	2895	3232	+337

Calgary Sales:

Sales in March increased in every category over last month which is to be expected at this time of year. Last year the increase in sales was 24% so this year it is substantially higher.

Sales	February 2014	March 2014	Change	% Change
Single Family Home	1230	1699	+479	+38%
Condo Townhouse	265	341	+76	+29%
Condo Apartment	359	445	+86	+24%
Total	1854	2485	+631	+34%

Calgary Real Estate Sales Prices:

In March, the benchmark price increased for all categories. Watch prices continue to rise until the inventory starts to rise.

Sales Prices	February 2014 Benchmark Price	March 2014 Benchmark Price	Change
Single Family Homes	482,800	490,600	+7,800
Condo Townhouse	309,700	313,100	+3,400
Condo Apartment	283,400	287,200	+3,800

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 and not so good news for those wanting to get into the market.

Sales Prices	Dec 31 2013 Benchmark Price	March 2014 Benchmark Price	Change $	% Change
Single Family Homes	472,200	490,600	+18,400	+4.0%
Condo Townhouse	307,100	313,100	+6,000	+2.0%
Condo Apartment	278,600	287,200	+$8,600	+3.0%

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: The numbers are still going down which is putting us in more of a seller’s market position and I don’t see that changing anytime soon. In March our inventory increased by 12.0% and our sales increased by 34.0% making it even a stronger market for sellers. As mentioned above competing offers are happening all over.

Absorption Rate	February 2014	March 2014	Change
Single Family Homes	1.54	1.21	-.33
Condo Townhouse	1.22	1.14	-.08
Condo Apartment	1.88	1.78	-.10
Total Calgary	1.56	1.30	-.26

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

Tags:Calgary, Calgary Home Prices, Calgary Real Estate Stats, House prices rising
Posted in Blog, Real Estate Board's Statistics | Comments Closed

Calgary Real Estate Market Snapshot March 2014

Sunday, March 2nd, 2014

Want to know 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 on the Market. The Calgary housing market is still entrenched is a Sellers Market with very little supply and strong demand. This month sales increased by 28.75% and our inventory only increased by 14.6%.

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

Below is a summary of some key areas with a few short comments.

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. This is very normal for this time of year. There is still a shortage of homes on the market and the good ones are selling very fast. We are seeing competing offers daily now and sellers getting 5 or more offers is common.

Inventory	January 2014	February 2014	Change
Single Family Home	1671	1894	+223
Condo Townhouse	277	324	+47
Condo Apartment	577	677	+100
Total	2525	2895	+370

Calgary Sales:

Sales in February increased in every category over last month which is to be expected at this time of year. I believe that as we get more listings on the market sales will continue to rise as there is a pent up demand.

Sales	January 2014	February 2014	Change	% Change
Single Family Home	974	1230	+256	+26.2%
Condo Townhouse	206	265	+59	+28.6%
Condo Apartment	260	359	+99	+38.1%
Total	1,440	1854	+414	+28.75%

Calgary Real Estate Sales Prices:

In February, the benchmark price increased for all categories. Watch prices continue to rise until the inventory starts to rise.

Sales Prices	January 2014 Benchmark Price	February 2014 Benchmark Price	Change
Single Family Homes	476,700	482,800	+$6,100
Condo Townhouse	308,100	309,700	+$1,600
Condo Apartment	280,600	283,400	+$2,800

Sales Prices “Year to Date”

Year to date prices – same as above have increased in all categories. Good news if you are a homeowner and not so good news for those wanting to get into the market.

Sales Prices	Dec 31 2013 Benchmark Price	February 2014 Benchmark Price	Change $	% Change
Single Family Homes	472,200	482,800	+10,600	+2.2%
Condo Townhouse	307,100	309,700	+2,600	+.85%
Condo Apartment	278,600	283,400	+4,800	+1.7%

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

Absorption Rate: The numbers are still going down which is putting us in more of a seller’s market position and I don’t see that changing anytime soon. In February our inventory increased by 14.6% and our sales increased by 28.5% making it even a stronger market for sellers. As mentioned above competing offers are happening all over.

Absorption Rate	January 2014	February 2014	Change
Single Family Homes	1.71	1.54	-.17
Condo Townhouse	1.34	1.22	-.12
Condo Apartment	2.21	1.88	-.33
Total Calgary	1.75	1.56	-.19

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

Tags:Calgary Home Prices, Calgary Real Estate Stats, Northwest Calgary Real Estate Prices, sell my home calgary
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

Nov 2014, Calgary Real Estate Market Snapshot

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May 2014, Calgary Real Estate Market Snapshot

Calgary Real Estate Market Snapshot April 2014

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