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June 1, 2017 Calgary Real Estate Market Snapshot

Monday, June 5th, 2017

What’s Happening in the Calgary Real Estate Market? 

 

Absorption Rate Calgary

What is really happening in the Calgary 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 with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

*** Absorption Rate June 1, 2017

As you can see below the absorption rates for the different categories did not change substantially in May.

  • Seller’s Market – Detached and Semi-Detached Homes – No change
  • Balanced Market – Row or Townhouses
  • Buyer’s Market – Apartment Condo’s

 

  April 2017 May  2017 Change
Detached 2.09 2.13 0.04
Semi Detached 2.25 2.78 0.54
Attached – Row 3.92 3.49 -0.43
Apartment 5.74 6.29 0.55
Total City 2.87 2.92 0.05

 

Calgary Listing Inventory

June  saw an increase in inventory levels in all categories. This is a very normal trend for May and we can expect more increases as we get into the summer months.

Inventory April 2017 May  2017 Change
Detached 2522 2941 419
Semi Detached 463 518 55
Attached – Row 863 949 86
Apartment 1647 1780 133
Total City 5495 6188 693

 

Calgary Sales:

Both Single family and Attached Row houses saw a large increase in sales this month.  Semi-Detached saw a sizable decrease and apartment condos saw a small decrease.

Calgary Sales   April 2017 May  2017 Change % Change
Detached 1204 1378 174 14.45%
Semi Detached 206 186 -20 -9.71%
Attached – Row 220 272 52 23.64%
Apartment 287 283 -4 -1.39%
Total City 1917 2119 202 10.54%

  

Calgary Real Estate Sales Prices: 

Wow, this is the first time in a few years that I can say that all categories saw price increases during the month of May.   While this trend seems nice (for homeowners) I cannot see that this can continue.  Detached homes should continue to increase but Apartment condos should not (and should be going down) with the high absorption rate.

  Sales Prices April 2017 Benchmark Price          May  2017 Benchmark Price Change
Detached 504,100 509,000 4,900
Semi Detached 390,200 393,100 2,900
Attached – Row 305,900 308,300 2,400
Apartment 269,200 271,200 2,000
Total City 439,600 443,800 4,200

  

Sales Prices “Year to Date”   

Sales Prices Jan 1, 2017    Benchmark Price  May  2017 Benchmark Price Change

$

% Change
Detached 498,300 509,000 10,700 2.15%
Semi Detached 385,400 393,100 7,700 2.00%
Attached – Row 307,900 308,300 400 0.13%
Apartment 269,200 271,200 2,000 0.74%
Total City 435,400 443,800 8,400 1.93%

 Clarification

**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

 

 

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May 1, 2017 Calgary Real Estate Market Snapshot

Tuesday, May 2nd, 2017

What is really happening in the Calgary Real Estate market?

Calgary Real Estate Absorption Rate

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

The absorption rate for April remained fairly flat.  Detached homes changes only by .13%.  Semi detached rate decreased by .04% while attached homes and Townhouses both increased by .5% This leaves us in the following market positions:

  • Sellers Market – Detached and Semi-Detached Homes
  • Balanced Market – Row or Townhouses
  • Buyers Market – Apartment Condo’s
  March 2017 April 2017 Change
Detached 1.97 2.09 0.13
Semi Detached 2.29 2.25 -0.04
Attached – Row 3.38 3.92 0.54
Apartment 5.22 5.74 0.52
Total City 2.68 2.87 0.18

 

Calgary Listing Inventory

April saw a slight increase in our inventory level in all categories except Semi Detached which remained even.  Increasing inventory is a normal pattern for April as we are approaching the spring market.  Expect our inventory to continue to increase over the next few months.

Inventory March 2017 April 2017 Change
Detached 2312 2522 210
Semi Detached 463 463 0
Attached – Row 764 863 99
Apartment 1575 1647 72
Total City 5114 5495 381

Calgary Sales:

All categories remained flat in sales. Overall we had 11 more sales in April then in March. This again is a fairly normal pattern and I expect this number to start to increase as buyers tend to come out once spring starts to arrive. We are starting to see lots of competing offers again in the detached market.

Calgary Sales   March 2017 April 2017 Change % Change
Detached 1176 1204 28 2.38%
Semi Detached 202 206 4 1.98%
Attached – Row 226 220 -6 -2.65%
Apartment 302 287 -15 -4.97%
Total City 1906 1917 11 0.58%

  

Calgary Real Estate Sales Prices: 

Prices this month increased marginally in all categories except for Apartment Condos which went down by $500. The increases in the Detached and Semi Detached homes were small and Row Houses actually increased by $1800.  Based on the absorption rate I believe you will continue to see increases in all Detached and Semi Detached Homes, prices should remain flat for Attached-Row houses and a slight decline in apartment condos which are still very much in a buyer’s market position.

  Sales Prices March 2017   2016 Benchmark Price          April 2017 Benchmark Price Change
Detached 503,900 504,100 200
Semi Detached 389,600 390,200 600
Attached – Row 304,100 305,900 1,800
Apartment 269,700 269,200 -500
Total City 439,400 439,600 200

  

Sales Prices “Year to Date”   

Sales Prices Jan 1, 2017    Benchmark Price  April  2017 Benchmark Price Change

$

% Change
Detached 498,300 504,100 5,800 1.16%
Semi Detached 385,400 390,200 4,800 1.25%
Attached – Row 307,900 305,900 -2,000 -0.65%
Apartment 269,200 269,200 0 0.00%
Total City 435,400 439,600 4,200 0.96%

 

Price Notes 

**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

 

 

 

 

 

 

 

 

 

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Jan 1, 2017 Calgary Real Estate Market Snapshot

Tuesday, January 3rd, 2017

What is really happening in the Calgary 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 with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

Calgary Real Estate Market Snapshot Showing months of Inventory supply

Calgary Real Estate Market Snapshot Showing months of Inventory supply

The absorption rate for all of Calgary stayed flat this month.   Detached Homes, Semi-Detached stayed almost the same.  Attached-Row went down by .67 while Apartment Condos went up by .26

November  2016 December   2016 Change
Detached 2.99 3.01 0.02
Semi Detached 4.01 3.83 -0.18
Attached – Row 5.42 4.75 -0.67
Apartment 7.33 7.59 0.26
Total City 4.05 4.04 -0.02

 

Calgary Listing Inventory

December saw a decrease in inventory levels in all categories.   This is very normal for the month of December as people were focused on the holidays and many people wait till after Christmas and New Years to list.

Inventory November  2016 December   2016 Change
Detached 2322 1719 -603
Semi Detached 453 368 -85
Attached – Row 770 570 -200
Apartment 1430 1108 -322
Total City 4975 3765 -1210

 

Calgary Sales:

Sales in all categories decreased substantially this month.  This is again very normal as people are focused on the holidays and not real estate during December.    To put things in perspective let’s compare with last year.

2016 Sales from Nov to Dec decreased by 23.91%

2015 Sales from Nov to Dec decreased by 30.4%

This tells me that we had less of a drop in sales in Dec 2016 compared to Dec 2015.

Calgary Sales   November  2016 December   2016 Change % Change
Detached 777 571 -206 -26.51%
Semi Detached 113 96 -17 -15.04%
Attached – Row 142 120 -22 -15.49%
Apartment 195 146 -49 -25.13%
Total City 1227 933 -294 -23.96%

 

Calgary Real Estate Sales Prices: 

As you can see the price changes in December were quite small.  The categories that showed the most decline are the Attached- Row and Apartment Condo Sector.  It’s no surprise that these are also the categories with the highest absorption rates.

  Sales Prices Nov  2016 Benchmark Price  Dec 2016  Benchmark Price Change
Detached 498,300 498,300 0
Semi Detached 384,800 385,400 600
Attached – Row 309,400 307,900 -1,500
Apartment 271,300 269,200 -2,100
Total City 436,200 435,400 -800

  

Sales Prices “Year to Date”   

Year to date prices

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

$

% Change
Detached 514,100 498,300 -15,800 -3.07%
Semi Detached 393,100 385,400 -7,700 -1.96%
Attached – Row 318,500 307,900 -10,600 -3.33%
Apartment 288,000 269,200 -18,800 -6.53%
Total City 452,800 435,400 -17,400 -3.84%

 **Please note that these numbers include on Calgary homes and 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 us know.  If you have any questions about this summary or Real Estate questions please  contact us.

 

 

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December 2016 Calgary Real Estate Market Snapshot

Friday, December 2nd, 2016

Did the new mortgage rules affect the Calgary Real Estate Market?  The answer is a resounding YES! Here is why.

Dec 2016 Absoption Rate Graph

December  2016 Absoption Rate Graph

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

*** Absorption Rate***  

The absorption rate for all categories increased this month.   When the Mortgage rules changed in Oct we saw these numbers decrease as people jumped into the market before it was too late.  The November decrease in sales results in a higher absorption rate.

 

  October 2016 November  2016 Change
Detached 2.49 2.99 0.50
Semi Detached 2.96 4.01 1.05
Attached – Row 4.21 5.42 1.21
Apartment 6.14 7.33 1.19
Total City 3.30 4.05 0.75

 

Calgary Listing Inventory

November saw a decrease in inventory levels in all categories.   This is very normal for the month of November as people start to focus on Christmas and not Real Estate.

Inventory October 2016 November  2016 Change
Detached 2565 2322 -243
Semi Detached 486 453 -33
Attached – Row 834 770 -64
Apartment 1542 1430 -112
Total City 5427 4975 -452

 

Calgary Sales:

Sales in all categories decreased substantially this month.  To put things in perspective let’s compare with last year.

2017 Sales from Oct to Nov decreased by 25.3%

2016 Sales from Oct to Nov decreased by 11.3%

This shows a 14% drop over our normal drop in November sales.  Knowing that we has a small surge of sales in October tells me going forward the decrease from last year to this simply due to new mortgage rules should end up at about a 10% increase.

 

Calgary Sales   October 2016 November  2016 Change % Change
Detached 1031 777 -254 -24.64%
Semi Detached 164 113 -51 -31.10%
Attached – Row 198 142 -56 -28.28%
Apartment 251 195 -56 -22.31%
Total City 1644 1227 -417 -25.36%

  

Calgary Real Estate Sales Prices: 

All categories showed a decrease in prices this month with the exception of Attached row houses which increased slightly.   Last month we saw a larger decrease in Attached Row houses so I believe it’s just balancing out.  Moving forward how much prices are affected will depend on how much our inventory increases.  Typically we will see a decline in inventory & sales in December and then they will start to increase in January.

 

  Sales Prices October 2016 Benchmark Price   Nov 2016 Benchmark Price Change
Detached 502,200 498,300 -3,900
Semi Detached 386,500 384,800 -1,700
Attached – Row 308,100 309,400 1,300
Apartment 273,800 271,300 -2,500
Total City 438,900 436,200 -2,700

 

 Sales Prices “Year to Date”   

Year to date prices

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

$

% Change
Detached 514100 498,300 -15,800 -3.07%
Semi Detached 393100 384,800 -8,300 -2.11%
Attached – Row 318500 309,400 -9,100 -2.86%
Apartment 288,000 271,300 -16,700 -5.80%
Total City 452800 436,200 -16,600 -3.67%

 

 Price Sensitivity

**Please note that these numbers do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please  contact us.

 

 

 

 

 

 

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Nov 1, 2016 Calgary Real Estate Market Snapshot

Wednesday, November 2nd, 2016
Welcome to our Nov 2016 Calgary Real Estate Market snapshot.
The big news for October is that the government changed the rules for mortgage qualification.  This month the stats show increased sales and declining inventory and I believe it is 100% due to people scrambling to get their home before the rules changed.  Next month we may see a totally different picture but only time will tell for sure.
image001

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

*** Absorption Rate***  

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

Absorption Rate Cont. 

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

 

Calgary Listing Inventory

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

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

 

Calgary Sales:

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

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

 

Calgary Real Estate Sales Prices: 

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

 

  Sales Prices July 2016 Benchmark Price    August  2016

Benchmark Price

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

 

 

Sales Prices “Year to Date”   

Year to date prices

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

$

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

 

 

Community Variations 

**Please note that these numbers do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

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Oct 1, 2016 Calgary Real Estate Market Snapshot

Tuesday, October 4th, 2016

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors.  I have also included some general comments which are simply my opinion. This is must have information for Calgary Home Buyers and Calgary Home Sellers.

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

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

*** Absorption Rate***  

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

 

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

 

Calgary Listing Inventory

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

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

 

Calgary Sales:

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

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

 

Calgary Real Estate Sales Prices: 

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

 

  Sales Prices July 2016 Benchmark Price    August  2016

Benchmark Price

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

 

Sales Prices “Year to Date”   

Year to date prices

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

$

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

 

 Price Sensitivity

**Please note that these numbers do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

 

TSW Real Estate Group

 

 

 

 

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August 1, 2016 Calgary Real Estate Market Snapshot

Tuesday, August 2nd, 2016

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

*** Absorption Rate***  

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

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

 

Calgary Listing Inventory

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

 

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

 

Calgary Sales:

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

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

 

Calgary Real Estate Sales Prices: 

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

  Sales Prices June  2016

Benchmark Price 

  July 2016

Benchmark Price

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

 

 Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  July  2016

Benchmark Price

 Change

$

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

 

Price Sensitivity

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

**Please note that these numbers do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

 

 

 

 

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July1, 2016 Calgary Real Estate Market Snapshot

Tuesday, July 5th, 2016

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.8 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.   All categories decreased this month meaning the market balance is continuing to shift.  As you can see the apartment condo market is still the slowest however shifted the most this month.

May 2016 June  2016 Change
Detached 2.48 2.28 -0.20
Semi Detached 2.88 2.88 -0.01
Attached – Row 4.04 3.90 -0.14
Apartment 5.85 4.96 -0.89
Total City 3.20 2.95 -0.25

 

Calgary Listing Inventory

June saw a slight decrease in inventory in all categories except Attached row homes (Townhouses) which increased by only 1 listing.

Inventory May 2016 June  2016 Change
Detached 3018 2923 -95
Semi Detached 548 532 -16
Attached – Row 974 975 1
Apartment 1608 1543 -65
Total City 6148 5973 -175

 

 

 

 

Calgary Sales:

Sales in all categories increased moderately again this month except for Semi-Detached homes which dropped by 5 sales and detached homes which increased by 65 or 5.34%.   This is very typical for a spring market and we will most likely start seeing a slight drop in sales numbers with summer holidays approaching.  It is important to note that Sales are still down from normal levels but the trend shows increases.

Calgary Sales   May 2016 June  2016 Change % Change
Detached 1217 1282 65 5.34%
Semi Detached 190 185 -5 -2.63%
Attached – Row 241 250 9 3.73%
Apartment 275 311 36 13.09%
Total City 1923 2028 105 5.46%

 

 

Calgary Real Estate Sales Prices: 

Pricing changes in June were minimal with Detached and Semi Detached increasing slightly and Attached- Row and Apartment decreasing slightly. This is very consistent with what the overall Absorption rate is telling us.  Expect further price declines in the Apartment condo sector.

  Sales Prices May  2016

Benchmark Price 

  June  2016

Benchmark Price

 Change
Detached 500500 502,400 1,900
Semi Detached 383100 385,600 2,500
Attached – Row 313200 310,800 -2,400
Apartment 278500 278,200 -300
Total City 439700 440,400 700

 

 

Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  June  2016

Benchmark Price

 Change

$

% Change
Detached 514100 502,400 -11,700 -2.28%
Semi Detached 393100 385,600 -7,500 -1.91%
Attached – Row 318500 310,800 -7,700 -2.42%
Apartment 288,000 278,200 -9,800 -3.40%
Total City 452800 440,400 -12,400 -2.74%

 

 

Point of Interest

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

 

Price Sensitivity

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

**Please note that these numbers do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

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June 1, 2016 Calgary Real Estate Market Snapshot

Thursday, June 2nd, 2016

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date and ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.8 to 4.0 Prices typically remain stable
Seller’s Market <2.8 Drives prices up

 

*** Absorption Rate***  

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

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

 

Calgary Listing Inventory

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

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

 

Calgary Sales:

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

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

 

Calgary Real Estate Sales Prices: 

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

  Sales Prices April  2016

Benchmark Price 

   May   2016

Benchmark Price

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

 

Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  May  2016

Benchmark Price

 Change

$

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

 

 Price Sensitivity

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

**Please note that these numbers do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please contact us.

 

TSW Real Estate Group

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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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