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Calgary Real Estate Market Snapshot March 1, 2022

Tuesday, March 1st, 2022

What is really happening in the Calgary Real Estate Market?

Another month of record sales and sharp price increases!

Real Estate Prices Rising

Real Estate Prices Rising

 

Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.

Months of Inventory

This graph shows the one year trend of months of Inventory in all sectors of the Calgary Real Estate Market

 

Gord’s commentary for the month (just my opinion).

2022 Highlights

  • All Sectors of the Calgary Real Estate Market are in a deep seller’s market position
  • Prices are going up, quickly
  • We are running extremely low on Inventory
  • Although new listings were 63% higher than last year total inventory only increased by 973.
  • All homes no matter what style are either going into multiple offers or are selling in a week.

 

Calgary Listing Inventory

Listing inventory Increased in all sectors by a total of 980 more listings at the end of February compared to the end of January.

 

Calgary Sales:

February sales are the highest on record for a February. Sales increased in all sectors anywhere from 49.25% to 65.94% increase over January sales.

 

Sales Compared to 2021:  This puts things into Perspective

Calgary home sales for February were 1474 higher than last February, an increase of 180.5%

 

  Jan Feb Mar Apr May June July
2021 1207 1831          
2022 2009 3305          
Change + 802 1474          
% Change + 66.4% +180.5%          

 

 

 Last years numbers 

  Aug Sept Oct Nov Dec Year to Date
2020 1574 1702 1763 1438 1199 16,149
2021 2151 2162 2186 2110 1737 27,686
Change +577 +456 + 423 +672 +538 11,537
% Change 136.6% 126.7% 123.9% 146.7% 144.9% 171.4%

 

 

Calgary Real Estate Benchmark Sales Prices:

The benchmark price for all sectors increased in February.

Detached home sector increased by $36,600 or 6.54%

Semi-detached increased by $21,500 or 4.89%

Attached Row increased by $15,500 or7.0%

Apartment Condos decreased by $5,900 or 7.65%

It is a long time since I have seen price changes so high in a month.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Same Stats below

 Current Months of Inventory (Absorption Rate): 

The Months of inventory decreased in all sectors except Detached homes this month which increased by only .11. As you can see in my chart above our months of inventory keeps decreasing in all sectors putting us into a deep seller’s market position.

 What might 2022 bring: (again just my opinion)

We are now very deep into a seller’s market. As inventory increases (which typically happens in Mar to may) I believe the market will softer but, in the meantime, I believe we will see more substantial price increases. Many people are asking me why this is all happening, and I have some thoughts:

  • Since 2015 sales have been low compared to the 10 year average so there is pent up demand
  • Alberta’s economy is showing signs of improvement
  • There are a huge number of people moving here from Vancouver and Ontario
  • There are now investors from Vancouver and Toronto buying up anything they can get their hands on.

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community, or more specific numbers for your home please contact us.

Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

Calgary Housing Stats

These stats are taken from the Calgary Real Estate Boards Stats Package for March 1, 2022. You will see only the critical numbers of Inventory, Sales, Prices and months of Inventory.

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Feb 1, 2022 Calgary Real Estate Market Snapshot

Tuesday, February 1st, 2022

What is really happening in the Calgary Real Estate Market? 

Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.  Yes, we are moving into a deep Seller’s market.

Months of Inventory

Months of Inventory

The graph above  shows the one year trend of Months of Inventory for all housing categories in the Calgary Real Estate Market

 

Gord’s commentary for the month (just my opinion).

2022 Highlights

  • All Sectors of the Calgary Real Estate Market are in a Seller’s Market position
  • Prices are going up, quickly
  • We are running extremely low on Inventory
  • Almost all Detached homes listed are going into multiple offers, I have seen many listings sell for between $50,000 to $100,000 over list price, and the odd one even above that.

Calgary Listing Inventory

Listing inventory stayed the same as at the end of December. We listed 2,250 homes in January and basically sold them all.

 Calgary Sales:

Sales in all sectors increased over December sales. Sales are normally at their lowest level in December and typically increase until June. What has changed is the level of sales, we took an extremely busy December and increased sales by 15.66%

 Sales Compared to 2020:  This puts things into Perspective

Calgary home sales were for January were 2009 while January of 2021 Sales were only 1207. We are therefore 66.4% higher than January 2021.

  Jan Feb Mar Apr May June July
2021 1207
2022 2009
Change + 802
% Change + 66.4%

   

  Aug Sept Oct Nov Dec Year to Date
2020 1574 1702 1763 1438 1199 16,149
2021 2151 2162 2186 2110 1737 27,686
Change +577 +456 + 423 +672 +538 11,537
% Change 136.6% 126.7% 123.9% 146.7% 144.9% 171.4%

  

Calgary Real Estate Benchmark Sales Prices:

Yes, Prices are going up. The benchmark price for all Sectors except Apartment Condos increased.

The highest increase is the sector with the lowest months of inventory being the Detached home sector. The benchmark price of detached homes increased by $12,500 or 2.28% this month.

Semi-detached increased by $7500.

Attached Row increased by $5,500

Apartment Condos decreased by $400

*It is important to note that Apartment Condos only went into a seller’s market in the last week so I anticipate when I report at the end of February prices will have started to increase.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Same as above for this month

 

Current Months of Inventory (Absorption Rate): 

The Months of inventory decreased in all sectors this month. As you can see in my chart above our months of inventory keeps decreasing in all sectors putting us into a deep seller’s market position.

 

What might 2022 bring: (again just my opinion)

My prediction last month has come true, only it is happening much quicker than I imagined.  The sales increases with inventory decreases have really pushed up prices of Detached homes, this increase is pushing people into buying Semi- Detached homes and on down the line so that even apartment condominiums are now in a seller’s market position.

 

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community, or more specific numbers for your home please contact us.

Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

Stats from the Calgary Real Estate Board

Stats from the Calgary Real Estate Board

 

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Dec 1, 2021 Calgary Real Estate Market Snapshot

Thursday, December 2nd, 2021

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two. We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector. Looking at a 2-year trendline gives you an indication of where things are really heading.

Months of Inventory

Months of Inventory for the Calgary Real Estate Board

Gord’s commentary for the month (just my opinion).

Typically, we see a steady decline in sales from October through December, and then once we hit mid-January sales start to increase again and peak around June. This year is far from typical.  Sales are booming and our Inventory is decreasing pushing us into an even stronger Seller’s Market. It has to the point (in the detached home sector) where if a new listing is priced at market value there will be competing offers and it will sell in the same day, typically above list price.  It is common to see 6-10 offers on homes.

Calgary Listing Inventory

Listing inventory in all sectors declined again this month. Detached homes showed the largest decline of 537 listings with a total decline in inventory of 948 listings in all sectors. This works out to a decrease in inventory of 19.47%. Seeing a decline in inventory is quite typical of this time of year but the decline this year is higher. Last year our decline was 733 in November.

Calgary Sales:

Sales in all sectors (except Attached Row Homes) were down slightly from last month by a total of seventy-six sales less.  Attached Row homes sales increased by fifty sales.  To put this in perspective sales in November were 146.7% of sales from last November so a large increase.  What makes this interesting is that if we had more inventory our sales would be higher as there are many buyers out there who are trying but have not successfully bought a home due to the lack of supply.

Sales Compared to 2020:

As you can see below October 2021 Sales were higher than October 2020. As noted above this is due to pent up demand and a lack of supply making people search longer to find their home. The other factor here is people taking advantage of the low-interest rates.

 

  Jan Feb Mar Apr May June
2020 861 1190 1175 573 1080 1763
2021 1208 1836 2903 3209 2989 2915
Change +347 +646 +1729 +2639 1,911 1,152
% Change +7.49 +54.4 247% +562% 277.3% 165.3%

 

  July Aug Sept Oct Nov Dec
2020 1835 1574 1702 1763 1438 1199
2021 2319 2151 2162 2186 2110  
Change +484 +577 +456 + 423 +672  
% Change 126.4% 136.6% 126.7% 123.9% 146.7%  

  

Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price increased for the Detached and Semi-Detached Sectors while the Townhouse and Apartment Condo sectors saw a small decline this month ((see chartbelow).  With the Months of Inventory where it is I anticipate further price increases in the coming months.

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

Year to date every sector has seen an increase in the Benchmark price.  Overall we are at a 9.16% increase so far and I anticipate further gains this month.

 

Current Months of Inventory (Absorption Rate): 

The Months of inventory decreased in all sectors this month. As of today, here is where we sit:

Sellers Market: Detached, Semi-Detached, and Attached- Rowhomes

Buyers Market: Apartment Condos

Overall, we are in a Sellers’s Market.

It is also important to note that these numbers vary by community, and by price range. If you would like numbers for your community, or more specific numbers for your home please contact us.

Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

Stats from the Calgary Real Estate Board

This photo shows Key Numbers from the Calgary Real Estate Board including sales, inventory, and Benchmark Price for each sector of the market.

 

 

 

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October 1, 2021 Calgary Real Estate Market Snapshot

Friday, October 1st, 2021

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector.  Looking at a 2-year trendline gives you an indication of where things are really heading.

Months of Inventory

The graph shows 2 years of Months of Inventory for every sector in the Calgary housing market.

Gord’s commentary for the month (just my opinion).

September saw a decline in inventory and a marginal increase in Sales moving the months of inventory even lower.

Calgary Listing Inventory

Typically, at this time of year, we see our inventory start to climb. This year that is still not the case as our overall inventory declined by 446 listings.  Inventory declined in all housing sectors with the largest decrease in Detached homes at 9.89% decline and the lowest in the apartment condo sector at 3.81%

 Calgary Sales:

Overall sales in Sept were 11 more than in August.  Traditionally we see sales dropping in September, so this is not all that normal.  I believe that this is mainly due to pent-up demand and a lack of supply making people search longer to find their home.

 Sales Compared to 2020:

Total sales were up by 26.7% over last year.  As you can see in my chart the last 3 months have all been over last year by between 24.4% to 36.6%.  As noted above I believe that this is mainly due to pent-up demand and a lack of supply making people search longer to find their home.

  Jan Feb Mar Apr May June
2020 861 1190 1175 573 1080 1763
2021 1208 1836 2903 3209 2989 2915
Change +347 +646 +1729 +2639 1,911 1,152
% Change +7.49 +54.4 247% +562% 277.3% 165.3%

 

  July Aug Sept Oct Nov Dec
2020 1835 1574 1702 1764 1437 1199
2021 2319 2151 2162      
Change +484 +577 +456      
% Change 126.4% 136.6% 126.7%      

 

 Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price changed very little this month. The total change for all sectors was a decline of $1,700.   I sense this is because earlier in the year we saw some large increases, mostly due to competing offers and bidding wars and people were bidding very high just to get a new home.   There is still a lot of competing offers, but I am not seeing the offers coming in as high as there are fewer offers and I believe some people are just saying they will wait for the next one.

Calgary Real Estate Benchmark Sales Price:  See chart below.

 Current Months of Inventory (Absorption Rate): 

The Months of inventory decreased in all sectors due to the declining inventory. Currently detached are still in a seller’s market position, Semi-detached and Row houses are in a balanced market position and Apartment Condos are in a buyer’s market position however getting close to balanced.

It is also important to note that these numbers vary by community, and by price range.  If you would like numbers for your community, or more specific numbers for your home please contact us.

Below is a summary of numbers in chart form.  All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

Stats from the Calgary Real Estate Board

Chart shows inventory, sales, benchmark price and the months of inventory for all sectors of the Calgary housing market.

 

 

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September 1st Calgary Real Estate Market Snapshot

Thursday, September 2nd, 2021

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector.  Looking at a 2-year trendline gives you an indication of where things are really heading.

Graph shows 2 years of Months of Inventory for every sector in the Calgary housing market.

Gord’s commentary for the month (just my opinion).

August saw a decline in inventory of 9.36%, and a decline in sales of 7.24% causing our months of inventory to decline very slightly.  Prices were mostly stable this month.

 

Calgary Listing Inventory

Typically, at this time of year, we see our inventory start to climb. This year that is not the case as our overall inventory declined by 625 listings.  The majority of the decline (339) were in the Detached home sector.  I believe the reason for this is there is still a pent-up demand and there are many people still shopping for that perfect home.

 

Calgary Sales:

Sales declined from July by a total of 168 fewer sales or 7.24%.  The majority of this is in the Detached home sector losing 113.  It is worth noting that typically sales show a decline from July to August so this is very normal.

 

Sales Compared to 2020:

Total sales were up by 36.6% over last year.  It is important to note that August sales did not break a record like in July however sales were 25% higher than long-term trends.  Normally this is a good category to watch however we are still comparing sales this year to when we were in a slower market due to Covid.  As you can also see every month the sales over last years are declining and this is a normal trend.

 

  Jan Feb Mar Apr May June
2020 861 1190 1175 573 1080 1763
2021 1208 1836 2903 3209 2989 2915
Change +347 +646 +1729 +2639 1,911 1,152
% Change +7.49 +54.4 247% +562% 277.3% 165.3%

 

  July Aug Sept Oct Nov Dec
2020 1835 1574 1702 1764 1437 1199
2021 2319 2151        
Change +484 +577        
% Change 126.4% 136.6%        

 

 

Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price in Calgary decreased in July by $500

Declines were seen in the Detached Home sector (-$1200) and the Apartment Condo sector (-$800)

Increases were in the Semi-Detached sector (+$1600) and in the Attached Row sector (+$1000)

You may wonder why prices decreased in the detached home sector when the Months of Inventory is still at 2.13 which is very much a seller’s market.  I believe it’s because we have seen large increases in the last few months and things are slowing a little and settling down.

 

Calgary Real Estate Benchmark Sales Price:  See chart below.

 

Current Months of Inventory (Absorption Rate): 

The Months of inventory increased in the Semi-Detached sector and decreased marginally in all other sectors.  For all sectors, combined Months of Inventory decreased by .07

 

It is also important to note that these numbers vary by community, and by price range.  If you would like numbers for your community, or more specific numbers for your home please contact us.

 

Below is a summary of numbers in chart form.  All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

Key Market Stats taken from the Calgary Real Estate Boards monthly stats package for Realtors.

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August 1, 2021 Calgary Real Estate Market Snapshot

Tuesday, August 3rd, 2021

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector.  Looking at a 2-year trendline gives you an indication of where things are really heading.

The graph shows the 2-year trend of months of inventory for all sectors of the Calgary Real Estate Market.

 

Gord’s commentary for the month (just my opinion).

Another record: Sales in July were 2319, the highest July on record!

Sales declined from last month but so did the number of listings on the market. The sales decline was slightly greater than the listings decline, pushing up the months of inventory on the market.

 

Calgary Listing Inventory

While inventory typically starts rising in July, our inventory declined by 240 listings. The decrease in inventory was consistent across all sectors.  I believe there is still a pent-up demand, if listings are priced right then they are selling very quickly.  Some listings I am seeing are substantially overpriced and these are sitting on the market.

 

Calgary Sales:

Another record: Sales in July were 2319, the highest July on record!

Compared to June sales dropped by 20.3% This is very typical as once we hit July people are focused on summer vacations and such.  The decrease in sales was consistent across all sectors.

 

Sales Compared to 2020:

Normally this is a good category to watch however we are now comparing sales this year to when we were in a slower market due to Covid.  As you can see sales in July were 126.4% above last July’s sales.  As you can also see every month the sales over last years are declining.

 

  Jan Feb Mar Apr May June
2020 861 1190 1175 573 1080 1763
2021 1208 1836 2903 3209 2989 2915
Change +347 +646 +1729 +2639 1,911 1,152
% Change +7.49 +54.4 247% +562% 277.3% 165.3%

 

  July Aug Sept Oct Nov Dec
2020 1835 1574 1702 1764 1437 1199
2021 2319          
Change +484          
% Change 126.4%          

 

 Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price in Calgary increased again in June by $1,800

All Sectors showed price gains in July. The highest gains were in Detached homes at +$2,700 and the lowest gain was $300 in the Attached-Row sector which makes total sense based on Months of Inventory.  I am a little surprised that the Apartment sector increased by $1,100 even though that sector is still showing 5.54 months of Inventory (indicating a buyer’s market).

 

Calgary Real Estate Benchmark Sales Price:  See chart below.

 

Current Months of Inventory (Absorption Rate): 

Once again, our months of inventory gained slightly in all sectors.  The highest gain is in the Apartment Condo sector at 1.1   Every other sector was in the .4 to .5 increase range.

Detached homes are still sitting in a seller’s market.

Semi-Detached, Attached-Row homes are sitting in a balanced market position.

Apartment Condos are sitting in a buyer’s market position.

 

It is also important to note that these numbers vary by community, and by price range.  This month I sold an apartment condo in the SW and the months of inventory for that community was only 1.55 compared to a 5.54 in Calgary.

If you would like numbers for your community, or more specific numbers for your home please contact us.

Below is a summary of numbers in chart form.  All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

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July 1, 2021 Calgary Real Estate Market Snapshot

Friday, July 2nd, 2021

 

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector.  Looking at a 2-year trendline gives you an indication of where things are really heading.

Graph shows the 2 month trend of months of inventory for all sectors in the Calgary Real Estate Market.

 

Gord’s commentary for the month (just my opinion).

Another solid month in the Calgary Real Estate Market showing the highest number of sales in June on record. Although sales have declined the market is still favoring Sellers or balanced except for the Apartment Condo sector.

The booming market has already brought out sellers who are fishing for huge dollars, yes there are more than a normal number of homes listed substantially above what the market will bear.  This is what is going to cause the inventory to increase and balance out the market.  Buyers be aware when shopping.

I have also noticed a decline in the intensity of buyers to compete on offers, there are still competing offers happening everywhere but the amount that buyers are going above list price is in my opinion shrinking.

 

Calgary Listing Inventory

Our listing inventory increased by 136 through June.  As of today, we are 2.01% higher than currently a month ago.

 

Calgary Sales:

Sales in June decreased by 74 or 2.48%

What is interesting here is that sales declined by 4.8% in Detached homes and 13.5% in Semi-Detached homes while sales in the Apartment sector increased by 16.6%

What is likely driving this is with the price increases some people may have moved into the Apartment Condo sector.

 

Sales Compared to 2020:

Normally this is a good category to watch however we are now comparing sales this year to when we were

in a collapsed market due to Covid and the First Shutdown.  As you can see sales in June were 65.3% higher

than in June 2020.

 

  Jan Feb Mar Apr May June
2020 861 1190 1175 573 1080 1763
2021 1208 1836 2903 3209 2989 2915
Change +347 +646 +1729 +2639 1,911 1,152
% Change +7.49 +54.4 247% +562% 277.3% 65.3%

 

  July Aug Sept Oct Nov Dec
2020 1835 80 1702 1764 1437 1199
2021            
Change            
% Change            

 

 Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price in Calgary increased again in June by $3,100.

The highest gains were in Detached homes at +$3,900 and the lowest gains we $400 in the Apartment sector which makes total sense based on Months of Inventory.

 

Current Months of Inventory (Absorption Rate): 

With a slight increase in Inventory and a slight decrease in sales, all sectors (except apartment Condos) increased our months of Inventory slightly.  Apartment condos months of Inventory went from 5.18 to 4.44 the largest decrease is quite some time as apartment condos have been struggling since 2015.

Buyers Markets include Apartment Condos.

Balanced Markers include Attached Row homes and Semi-Detached sectors.

Sellers Markets include just Detached Homes.

 

It is also important to note that these numbers vary by community, and by price range.  If you would like numbers for your community, or more specific numbers for your home please contact us.

Below is a summary of numbers in chart form.  All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

This photo shows key stats that are taken from the stats package produces by the Calgary Real Estate Board.

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Calgary Real Estate Market Snapshot Feb 1, 2021

Monday, February 1st, 2021

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector.  Looking at a 2-year trendline gives you an indication of where things are really heading. On the right it indicates if we are in a sellers or buyers market in that sector.

Graph shows 2 years on Months of Inventory for all sectors within the Calgary Real Estate Market.

 

Gord’s commentary for the month (just my opinion).

Calgary had another very busy month in the Real Estate world.  It feels like we are in the spring market already. Sales of detached homes, especially in the lower price ranges are booming and we are seeing multiple offers. Currently in the single-family home sector what is holding people back from buying is the lack of inventory so they cannot find what they want.

 COVID-19: Even though we are in a similar lockdown situation as we were in March there does not seem to be the same result in the market falling.  I believe that the public is now aware of the many protocols Realtor’s have put in place to keep both Buyers and Sellers safe. On top of that, I believe people are seeing that there is a light at the end of the tunnel with the recent Vaccine announcements.

Calgary Listing Inventory

Every housing sector saw an increase in Inventory, and this is to be expectedin January.  In November/December people often hold off for the holiday season and are now listing.

Calgary Sales:

Overall Calgary sales increased in January over December but only by a small margin. The only sector that saw a decrease was the Attached-Row Sector and sales were only down by 19.

Sales Compared to 2020:

This is where it gets interesting.  January saw 347 more sales than in January of 2020.  This makes me believe that there is still a pent-up demand and with the interest rate so low we are going to see some higher numbers this year than we have seen in a while.

 

  Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2020 861 1195 1175 573 1080 1747 1835 80 1702 1764 1437 1199
2021 1208
Change +347
% change +7.49

 

 Calgary Real Estate Benchmark Sales Prices:

Overall, the Benchmark Price for all sectors increased by $1500.   All sectors showed an increase except Semi-Detached which showed a small decrease of 2,000.

 

Current Months of Inventory (Absorption Rate): 

The months of Inventory increased marginally in all Sectors except the Semi-Detached sector where months of inventory declined by .13.

Detached homes at 2.17 put us solidly into a seller’s market.

Semi-Detached is at 2.53 so borderline between Sellers and Balanced market position.

Attached Row and Apartment sectors are both in Buyer’s Market positions with 4.65 and 7.08 Months of Inventory respectively.

It is also important to note that these numbers vary by community, and by price range.  If you would like numbers for your community contact us.

Below is a summary of numbers in chart form.  All numbers are taken from the Calgary Real Estate Boars monthly Stats package.

 

CREB Stats for January of 2021

 

 

 

 

 

 

 

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What’s Really happening in the Calgary Real Estate Market?

Monday, March 2nd, 2020

What’s really happening in the Calgary Real Estate Market?  The market is simply a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each Sector.  Looking at a 2-year trendline gives you and indication of where things are really heading.

Graph shows the 2 year trend of Months of Inventory for all housing categories in the Calgary Real Estate Market.

 

Following is a summary of what I deem to be the most important numbers.  Again, we look at Total Inventory, Sales for the past 30 days, Months of Inventory and of course the benchmark price.  All numbers are taken from the Calgary Real Estate boards monthly stats package.

Data from Calgary Real Estate Board’s Monthly Calgary Stats package.

 

Gord’s commentary for the month (just my opinion).

 

Current Months of Inventory (Absorption Rate): 

In February our absorption rate dropped quite substantially.  If you look at the graph above Last year (2019) after Jan the absorption rate dropped slowly every month till June.   February dropped significantly is down to the equivalent to May last year.  The highest decrease was in Detached homes which are now in a balanced market at 3.85 months of Inventory.

 

Calgary Listing Inventory

Inventory increased in every sector in February.  The largest increase was in Attached Row Homes at 10.28%.  Inventory increasing at this time of year is expected.  Total Increase was 8.7%.

 

Calgary Sales:

Sales in all sectors increased substantially in February.  Lowest % increase was 32.5% of detached homes and the highest increase was Semi-Detached at 65.88%.  Total Sales increase was 38.7%

Obviously, the sales increase is much larger than the inventory increases thus the months of inventory decrease.

 

Sales Compared to 2019:

Sales in all sectors for January 2020 were 7.6% higher than in January 2019.

Sales in all sectors for February 2020 were 23% higher than in February 2019.

 

 

Calgary Real Estate Sales Prices:

Prices in all sectors declined a little this month.  The lowest decrease was in the Detached home sector at a decrease of .1% and the largest decline was in the Attached-Row Sector with a decrease of .67%

 

It’s also important to note that these numbers vary by community, and also by price range.  If you would like numbers for your community contact us.

 

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What’s really happening in the Calgary Real Estate Market?

Tuesday, February 4th, 2020

The market is simply a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each Sector.  Looking at a 2 year trendline gives you and indication of where things are really heading.

Calgary Real Estate Board  Summary of Key Stats

 

Following is a summary of what I deem to be the most important numbers.  Again, we look at Total Inventory, Sales for the past 30 days, Months of Inventory and of course the benchmark price.  All numbers are taken from the Calgary Real Estate boards monthly stats package.

Key Stats for the Calgary Real Estate Market

 

Gord’s commentary for the month (just my opinion).

 

Current Months of Inventory (Absorption Rate): 

Through January our Absorption rate increased for all housing sectors. The smallest increase was in the detached sector at +.25 and the largest was in the Attached Row Sector at +1.34

This means the listing increase is outpacing the sales increase  and it is putting us in a stronger buyers market for all sectors.

Calgary Listing Inventory

Inventory increased in every sector in January.  Most sectors increased somewhat equally except the Apartment condo sector that increased by 16.1% compared to the total increase of 11.6%

Increasing inventory is normal as many people wait till the holidays are over to list.  This is a trend that we expect to see for the next several months.

 Calgary Sales:

Sales in Detached homes and Apartment Condos increased marginally over December which is a normal trend.  Sales in the Semi-Detached and Attached Row homes declined ever so slightly. We also had about 10 Days of bitter weather which keeps buyers indoors.

Sales Compared to 2018:

Sales in all sectors increased over 2018 for a total increase of 8% over 2019.

 Calgary Real Estate Sales Prices:

Prices in all sectors declined a little this month.  The lowest decrease was in the Detached home sector and the largest decline was in the Apartment Condo Sector

Calgary Real Estate Benchmark Prices Year to Date – Same as for the month.

It’s  also important to note that these numbers vary by community, and also by price range.  If you would like numbers for your community contact us.

 

 

 

 

 

 

 

 

 

 

 

 

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