Gord Piper and Associates welcome”s you to 2011 and what a great year it is going to be.
For you information we are providing a snapshot of key information taken from the Calgary Real Estate Boards Monthly Stats package which came out last night. To get a good understanding of the market we think there are three numbers that are critical – Inventory – Sales – Prices. Yes, the old theory of supply and demand ! If there are any other numbers that you would like to see posted monthly just let us know. Here are the results for december 2010 with a few comments. If you would like a full copy of the board”s stats please contact us and we will be happy to give.
Attached please find a copy of the stats package from the Calgary Real Estate Board for the month of December 2010. Below you will find a summary of some key areas with a few short comments.
Calgary Listing Inventory: As noted below we had a substantial decrease in our inventory this month. In December not many homes get listed around Christmas time coupled with many listing expiring. I truly believe this is very short-term as many of the listings that have expired will go back on the market between now and spring so watch for this number to go up again
| Inventory |
November |
December |
Change |
| Single Family Home |
3869 |
2712 |
<1157> |
| Condo’s |
1882 |
1429 |
<453> |
| Total |
5751 |
4141 |
<1610> |
Calgary Sales: Sales for the month of December are very typical of the season where there is less real estate activity in December due to people being involved with so many other activities.
| Sales |
November |
December |
Change |
| Single Family Home |
891 |
734 |
<157> |
| Condo’s |
310 |
320 |
10 |
| Total |
1201 |
1054 |
<147> |
Calgary Real Estate Sales Prices : For this summary, I will focus only on the Median Sales Price as the average can be skewed by Realtors selling more of less million dollar homes and should be a better reflection of the market. Noted below single family homes took a slight decrease this month while condos showed a bit of a recovery.
| Sales Prices |
November Median Price |
December Median Price |
Change |
| Single Family Homes |
$399,900 |
$389,000 |
<$10,900 |
| Condo’s |
$253,300 |
$258,500 |
$5,200 |
2011 Prediction
Gord’s unofficial forecast: As of late our phones have rung more than at any other time this year and the calls have been from buyers who have sat on the fence and are now ready to make a move. I believe we are going to start to see increases in sales numbers for the first quarter seeing things settle down a little after that. I forecast that our inventory will start to increase and we may see high levels once spring hits. Therefore this certainly seems to be a good time to buy. If you’re thinking of selling I think the opportunities are going to be the best in the first 3 months of the year before all the spring listings hit the market.
In other news we want to share that this year we will be having a booth at the Calgary Wedding Fair otherwise known as the Bridal show with some great draws. If you find yourself at the wedding fair please stop by and say hi.
If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us anytime.
Gord Piper and Brent Wilcox
Century 21, The Professionals Ltd.