Calgary Home Prices « The Gord Piper & Associates Real Estate Blog

Posts Tagged ‘Calgary Home Prices’

July 2014, Calgary Real Estate Market Snapshot

Monday, August 4th, 2014

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening in the Calgary Real Estate Market. The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate. A simple way to keep up to date and ahead of most! The Calgary housing market is deeply entrenched is a Sellers Market with very little supply and strong demand. In July we started seeing a slight shift towards a buyers market but we have a long way to go.

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

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

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

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

Calgary Sales:

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

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

Calgary Real Estate Sales Prices:

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

Sales Prices	June 2014 Benchmark Price	July 2014 Benchmark Price	Change
Single Family Homes	509,700	511,600	+1900
Condo Townhouse	326,000	327,000	+1,000
Condo Apartment	299,700	298,100	-1,600

Sales Prices “Year to Date”

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

Sales Prices	Dec 31 2013 Benchmark Price	July 2014 Benchmark Price	Change $	% Change
Single Family Homes	472,200	511,600	+39,400	+8.3
Condo Townhouse	307,100	327,000	+19,900	+6.5
Condo Apartment	278,600	298,100	+19,500	+7.00

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

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

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

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

**Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just let me know. If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us.

Tags:Calgary Condos, Calgary Home Prices, calgary market, Calgary Real Estate Stats, Northwest Calgary Real Estate Prices
Posted in Blog, Real Estate Board's Statistics | Comments Closed

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

Calgary Real Estate Market Snapshot updated Jan 2014

Wednesday, January 1st, 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 limited supply and strong sales and I do not see that changing anytime soon.

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: Inventory levels for all categories dropped substantially this last month. This is simply a seasonal adjustment that happens every year. In the next few days listings will start to hit the market bringing these numbers right back up.

Inventory	November 2013	December 2013	Change
Single Family Home	2171	1515	-656
Condo Townhouse	380	242	-138
Condo Apartment	605	479	-126
Total	3156	2236	-920

Calgary Sales:

Sales in December declined in all categories and again this is very normal for the month of December. Considering the weather I think we faired well. It is also important to note that sales in December were 8.3% higher than in December 2012. I am very confident that January’s numbers will be much higher.

Sales	November 2013	December 2013	Change	% Change
Single Family Home	1006	744	-262	-26.0
Condo Townhouse	228	179	-49	-21.5
Condo Apartment	305	221	-84	-27.5
Total	1539	1144	-395	-25.6

Calgary Real Estate Sales Prices:

In December, the benchmark price increased for all categories except apartment Condos which saw a small decrease. As long as our ratio of sales to listings remains the same this upward trend will continue.

Sales Prices	November 2013 Benchmark Price	December 2013 Benchmark Price	Change
Single Family Homes	470,600	472,200	+$1,600
Condo Townhouse	305,700	307,100	+$1,400
Condo Apartment	279,600	278,600	-$1,000

Sales Prices “Year to Date”

Year to date 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 2012 Benchmark Price	Dec 31. 2013 Benchmark Price	Change $	% Change
Single Family Homes	434,800	472,200	+37,400	+8.6%
Condo Townhouse	284,100	307,100	+23,000	+8.1%
Condo Apartment	248,700	278,600	+29,900	+12.0%

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 doesn’t tell us much this month as December is a funny month where lots of people take their home off the market for the holidays and then relist in Jan. We are still in a strong seller’s market position and I don’t see that changing anytime soon. In the starter home price range we are still seeing lots of competing offers.

Absorption Rate	November 2013	December 2013	Change
Single Family Homes	2.15	2.03	-.12
Condo Townhouse	1.67	1.35	-.32
Condo Apartment	1.98	2.17	+.19
Total Calgary	2.05	1.96	-.09

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

Tags:Calgary Condos, Calgary Home Prices, calgary real estate, calgary real estate prices, Condominium, Northwest Calgary Real Estate Prices
Posted in Blog, Real Estate Board's Statistics | Comments Closed

November 2013 Calgary Real Estate Market Snapshot

Monday, December 2nd, 2013

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. In summary the Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales.

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: Inventory levels for all categories dropped substantially this month. In my opinion this is of no concern and is simply a seasonal trend. We will see a further decrease in December and then in Jan it should start to increase again. Very few people want to list their home during the holiday season.

Inventory	October 2013	November 2013	Change
Single Family Home	2705	2171	-534
Condo Townhouse	444	380	-64
Condo Apartment	692	605	-87
Total	3841	3156	-685

Calgary Sales:

Sales in November declined at almost the same as rate that inventory dropped. Traditionally this time of year we start to see sales slowing so again I’ll call it a seasonal trend.

Sales	October 2013	November 2013	Change	% Change
Single Family Home	1336	1006	-330	-24.7
Condo Townhouse	280	228	-52	-18.9
Condo Apartment	337	305	-32	-9.4
Total	1953	1539	-414	-21.1

Calgary Real Estate Sales Prices:

In November, the benchmark price increased for all categories. As long as our ratio of sales to listings remains the same this trend will continue.

Sales Prices	October 2013 Benchmark Price	November 2013 Benchmark Price	Change
Single Family Homes	468,000	470,600	+2,600
Condo Townhouse	302,200	305,700	+3,500
Condo Apartment	276,100	279,600	+3,500

Sales Prices “Year to Date”

Year to date prices have increased in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	November 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	470,600	+35,800	+8.2%
Condo Townhouse	284,100	305,700	+21,600	+7.6%
Condo Apartment	248,700	279,600	+30,900	+12.4%

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: Throughout November our absorption changed but only marginally. We are still in a strong seller’s market position. In the starter home price range we are still seeing lots of competing offers.

Absorption Rate	October 2013	November 2013	Change
Single Family Homes	2.02	2.15	+.13
Condo Townhouse	1.58	1.67	+.09
Condo Apartment	2.05	1.98	-.07
Total Calgary	1.97	2.05	+.08

**Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats or absorption rate for 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:Architecture of the United Kingdom, Calgary, Calgary Condos, Calgary Home Prices, Calgary Real Estate Stats, sell my home calgary, Townhouse
Posted in Blog, Real Estate Board's Statistics | Comments Closed

November 2013 Monthly Real Estate Market Snapshot

Thursday, October 31st, 2013

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. In summary the Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales. This month put the market into an even stronger Sellers position.

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: Inventory levels for all single family homes dropped a little while all townhouses and apartment condos remained almost flat this month.

Inventory	September 2013	October 2013	Change
Single Family Home	2789	2705	-84
Condo Townhouse	450	444	-6
Condo Apartment	683	692	+9
Total	3922	3841	-81

Calgary Sales:

Sales in October were almost the same as in September. Traditionally this time of year we start to see sales slowing.

Sales	September 2013	October 2013	Change	% Change
Single Family Home	1354	1336	-18	-1.3
Condo Townhouse	245	280	+35	+1.4
Condo Apartment	324	337	+13	+.04
Total	1923	1953	+30	+.15

Calgary Real Estate Sales Prices:

In October, the benchmark price increased for all categories. As long as our ratio of sales to listings remains the same this trend will continue.

Sales Prices	September 2013 Benchmark Price	October 2013 Benchmark Price	Change
Single Family Homes	463,700	468,000	+4,300
Condo Townhouse	299,100	302,200	+3,100
Condo Apartment	272,900	276,100	+3,200

Sales Prices “Year to Date”

Year to date prices have increased in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	October 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	468,000	+33,200	+7.6
Condo Townhouse	284,100	302,200	+18,100	+6.3%
Condo Apartment	248,700	276,100	+27,400	+11.1%

Absorption Rate Defined: (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: Throughout September our absorption rate decreased in all categories putting the market even more in favour for sellers. Especially in the starter home price range we are starting to see lots of competing offers.

Absorption Rate	September 2013	October 2013	Change
Single Family Homes	2.06	2.02	-.04
Condo Townhouse	1.84	1.58	-.26
Condo Apartment	2.1	2.05	-.05
Total Calgary	2.04	1.97	-.07

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Tags:Calgary, Calgary Condos, Calgary Home Prices, calgary real estate, Calgary Real Estate Stats, nw calgary
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Aug 2013 Calgary Real Estate market snapshot

Thursday, August 1st, 2013

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. In summary the Calgary housing market is still very strong and we are moving even deeper into a Sellers Market.

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: Inventory levels for all categories decreased again throughout July. If you have been following my reports the Inventory levels had been increasing a little every month until last month. This may very well be due to the flooding disaster in Calgary where some listings were taken off the market.

Inventory	June 2013	July 2013	Change
Single Family Home	3199	2917	-282
Condo Townhouse	489	407	-82
Condo Apartment	896	768	-128
Total	4584	4092	-492

Calgary Sales:

Sales decreased in all categories except apartment condos this month. Following the trends of the last few years we are getting into summer vacations when people take holidays and therefore the sales numbers drop a little. A very normal change.

Sales	June 2013	July 2013	Change	% Change
Single Family Home	1638	1575	-63	-3.8%
Condo Townhouse	317	295	-22	-.7%
Condo Apartment	362	398	36	1.0%
Total	2317	2268	-49	-2.1%

Calgary Real Estate We used another online defensive driving school school for our other son. Sales Prices: Please note that we are now using the Benchmark price for this comparison.

In July, the benchmark price increased slightly for all categories except townhouses which saw a small drop. This is simply a reflection demand outpacing supply and will continue until the inventory starts to increase faster than sales.

Sales Prices	June 2013 Benchmark Price	July 2013 Benchmark Price	Change
Single Family Homes	459,700	461,600	1900
Condo Townhouse	295,000	294,500	(500)
Condo Apartment	264,000	267,600	3600

Sales Prices “Year to Date”

Year to date prices have increased in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	July 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	461,600	26,800	6.1%
Condo Townhouse	284,100	294,500	10,400	3.66
Condo Apartment	248,700	267,600	18,900	7.6%

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: Throughout July our absorption rate decreased in all categories. With inventory shrinking faster than sales are slowing it is now pushing us into a stronger “Sellers market position”.

Absorption Rate	June 2013	July 2013	Change
Single Family Homes	1.95	1.85	-.1
Condo Townhouse	1.54	1.37	-.17
Condo Apartment	2.48	1.93	-.55
Total Calgary	1.98	1.80	-.18

**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.

Tags:Calgary, Calgary Home Prices, calgary real estate, Calgary Real Estate Stats, Condominium, Demand, Northwest Calgary Real Estate Prices, Townhouse
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April’s Calgary Real Estate Market Snapshot

Tuesday, April 30th, 2013

Want to know what is really happening in Calgary’s Real Estate Market. Bottom line Real Estate is all about supply and demand so that is our focus here. Below you will find a summary of some key Factors with a few short comments. In summary the Calgary housing market is very strong. Sales are strong and our inventory is on the low side making it a Seller’s market. All numbers below are taken from the Calgary Real Estate Boards Stats Package for Realtors.

Calgary Listing Inventory: Inventory levels for all categories increased throughout April. Seeing our inventory increase is very normal at this time of year as many people wait until spring to list their homes. This trend of increasing inventory should continue for the next few months.

Inventory	March 2013	April 2013	Change
Single Family Home	2727	2977	+250
Condo Townhouse	484	518	+34
Condo Apartment	796	871	+75
Total	4007	4366	+359

Calgary Sales:

Sales increased in all categories this month. What is important here is that our sales increased at a higher rate than our inventory putting us into an even stronger sellers market than last month. What I am seeing is that good single family homes in the lower price ranges are harder to find and therefore we are seeing more buyers moving into the townhouse market, the condominium market and surrounding towns.

Sales	March 2013	April 2013	Change	% Change
Single Family Home	1480	1611	+131	+8.8%
Condo Townhouse	283	341	+58	+20.4%
Condo Apartment	347	429	+82	+23.6%
Total	2110	2381	+271	+12.84

Calgary Real Estate Sales Prices: Please note that we are now using the Benchmark price for this comparison.

In April the benchmark price increased slightly for all categories. This is simply a reflection demand outpacing supply and may continue until the inventory starts to increase faster than sales.

Sales Prices	March 2013 Benchmark Price	April, 2013 Benchmark Price	Change
Single Family Homes	446,500	452,900	+$6,400
Condo Townhouse	286,800	288,900	+$2,100
Condo Apartment	257,700	261,300	+$3,600

Sales Prices “Year to Date”

Once again we saw increases in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	April 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	452,900	+18,100	+4.2%
Condo Townhouse	284,100	288,900	+4,800	+1.7%
Condo Apartment	248,700	261,300	+12,600	+5.1%

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	March 2013	April 2013	Change
Single Family Homes	1.84	1.85	+.01
Condo Townhouse	1.71	1.52	– .19
Condo Apartment	2.29	2.03	– .26
Total Calgary	1.90	1.83	– .07

Yes, we are in a Sellers Market

As you can see above we are in a Seller’s market for all categories and it is getting stronger in favour of sellers. Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just let me know.

If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us.

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

Gord, Eric & Brent

Tags:Business/Finance, Calgary, Calgary Home Prices, calgary real estate, calgary real estate prices, Calgary Real Estate Stats, Condominium, Inventory, Real Estate Absorption Rate
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The Gord Piper & Associates Real Estate Blog

Posts Tagged ‘Calgary Home Prices’

July 2014, Calgary Real Estate Market Snapshot

June 2014 Real Estate Market Snapshot

May 2014, Calgary Real Estate Market Snapshot

Calgary Real Estate Market Snapshot April 2014

Calgary Real Estate Market Snapshot March 2014

Calgary Real Estate Market Snapshot updated Jan 2014

November 2013 Calgary Real Estate Market Snapshot

November 2013 Monthly Real Estate Market Snapshot

Aug 2013 Calgary Real Estate market snapshot

April’s Calgary Real Estate Market Snapshot

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