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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

**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 pass this on. Gord, Eric, Brent & Jason

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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

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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

**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.

Search MLS Listings on our website at www.gordpiper.com or at www.gordpiper.ca

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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.

 

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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

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What is really happening in the Calgary Real Estate Market?

Thursday, November 1st, 2012

Our Market Snapshot  gives you information on a few key areas in Calgary Real Estate,  in minutes you will have a clear picture of what is really happening in the Calgary Real Estate Market.  We have condensed 20 pages of the Realtor’s report from the Calgary Real Estate  Board into this simply easy to read format.

Calgary Listing Inventory:  Inventory levels for all categories decreased slightly in October.  Seeing our inventory decrease is very normal at this time of year as many people like to wait until after Christmas and into spring to list their homes.  In my opinion this is not always the best strategy but it seems to happen every year.

Inventory 

Sept 2012   

Oct  2012 

Change
Single Family Home

3486

3114

-372
Condo  Townhouse

548

506

-42
Condo  Apartment

1064

985

-79
Total

5098

4605

-493

 

Calgary Home Sales: 

Sales increased slightly in all categories except apartment condos this month.   This, I find a little surprising as the normal trend for this time of year is to see sales decrease slightly. What I am seeing (especially in Single Family homes) is that it’s hard to find good homes for clients due to low inventory levels.

Sales

Sept  2012   

Oct  2012

Change

% Change

Single Family Home

1132

1174

+42

+3.7%
Condo  Townhouse

209

219

+10

+4.8%
Condo Apartment

276

272

-4

-1.5%
Total

1617

1665

          +48

+3.0%

 

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

As the chart below demonstrates the benchmark price for all categories stayed flat this month.  In my opinion this is a very healthy market with good activity level and prices showing modest increases.

 

Sales Prices Sept  2012 Benchmark Price   

Oct   2012 Benchmark Price  

Change

Single Family Homes

432,900

433,300

+$400.
Condo Townhouse

277,700

279,000

+$1300.
Condo  Apartment

249,300

247,000

-$2300.

  

Absorption Rate (Months of Inventory)

The absorption rate is the inventory divided by the number of sales in the last month. What does this mean you might ask?

A rate of below 3.0 indicates a Seller’s Market

A rate of between 3.0 to 4.0 indicates a Balanced Market

A  rate of above 4.0 indicates a Buyer’s Market.

Absorption Rate  

Sept  2012

Oct  2012  

Change

Single Family Homes

3.08

2.65

-.43
Condo Townhouse

2.62

2.31

-.31
Condo  Apartment

3.85

3.62

-.23
Total Calgary

3.15

2.76

-.39

 

Calgary has made the shift from a balanced market to a definite sellers market with the exception of apartment condos and they are  still in a balanced market.

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 anytime.

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

Gord, Eric & Brent

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Sept 2012 Calgary Real Estate Market Snapshot

Thursday, October 4th, 2012

Here is a quick summary of some key areas including inventory, sales, prices and absorption rate with a few short comments about the Calgary real estate market for September 2012.  All numbers are taken from the statistics package created by the Calgary Real Estate Board for Realtors.

Calgary Listing Inventory:  Inventory levels for all categories decreased slightly again in September. Last year this was the time when our inventory was increasing rapidly so seeing a slight decline is a good sign and shows stability in the Calgary market.

Inventory 

Aug  2012 

Sept  2012 

Change
Single Family Home

3535

3486

-49
Condo    Townhouse

584

548

-36
Condo    Apartment

1065

1064

-1
Total

5184

5098

-86

 

Calgary Sales: 

Sales decreased marginally in all categories this month.  In my opinion this is simply a seasonal adjustment.  What I am seeing (especially in Single Family homes) it is hard to find good homes for clients due to low inventory levels.   Last year’s sales in September were 1461 and this year we sold 1617 homes showing a 10.6% increase this year over last.

Sales

Aug  2012   

Sept  2012

Change

% Change

Single   Family Home

1169

1132

-37

-3.2%
Condo  Townhouse

241

209

-32

-1.3%
Condo   Apartment

315

276

-39

-1.3%
Total

1725

1617

 -108

-6.2%

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

As the chart below demonstrates the benchmark price for all categories stayed flat this month.  In my opinion this is a very healthy market with good activity level and prices showing modest increases.

 

Sales Prices Aug  2012 Benchmark Price   

Sept  2012 Benchmark Price  

Change

Single   Family Homes

432600

432,900

+$300.00
Condo   Townhouse

278200

277,700

-$500.00
Condo  Apartment

248700

249,300

+$600.00

Absorption Rate (Months of Inventory) – Yes a new category!

The absorption rate is the inventory divided by the number of sales in the last month.

What does this mean you might ask?

An absorption rate of below 3.0 indicates a Seller’s Market

An absorption rate of between 3.0 to 4.0 indicates a Balanced Market

An Absorption rate of above 4.0 indicates a Buyer’s Market.

 

Absorption Rate   Aug  2012    

Sept  2012  

Change

Single   Family Homes

3.02

3.08

+.06
Condo   Townhouse

2.42

2.62

+.2
Condo  Apartment

3.38

3.85

+.47
Total   Calgary

3.01

3.15

+.14

 

Overall we are in a balanced market and leaning towards a seller’s market.  Please note that these numbers do change by community.  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 anytime.

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

Gord, Eric & Brent

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Calgary Housing Market August 2012

Monday, September 3rd, 2012

We have included a snapshot of what is happening in the Calgary Real Estate Market.  Below you will find a summary of some key areas including inventory, sales numbers and of course prices.  We have taken the information directly from the Stats package from The Calgary Real Estate Board .  Overall the Calgary housing market has slowed but is still in good shape and we are still exceeding last years sales.

Calgary Listing Inventory:  Inventory levels for all categories decreased slightly again in August.  Last year this was the time when our inventory started increasing rapidly so seeing a slight decline is a good sign and shows  stability in the Calgary market.

Inventory 

July  2012 

Aug  2012 

Change
Single   Family Home

3646

3535

-111
Condo  Townhouse    

623

584

-39
Condo  Apartment   

1161

1065

-96
Total  

5390

5184

-206

 

Calgary Residential Sales: 

Sales decreased in Single family homes but increased a little in townhouses and apartment style condos.    In my opinion this was expected and is more of a seasonal adjustment as we are following the same trend as last year when our sales peaked in June.  The other reason I see for the decrease in Single Family homes is some of my clients are having a hard time finding what they are looking for due to the low inventory levels.   Last year’s sales in August were 1569 and this year we sold 1725 showing a 9.9% increase this year over last.

Sales

July 2012  

Aug  2012

Change

% Change

Single Family Home

1386

1169

-217

-18.5%
Condo    Townhouse  

239

241

+2

+.01%
Condo Apartment

311

315

+4

        +1.2%
Total

1936

1725

 -211        -12.2%

 

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

As the chart below demonstrates the benchmark price for all categories stayed flat this month.  In my opinion this is a very healthy market with good activity level and prices showing modest increases.

Sales Prices July 2012   Benchmark Price   

Aug  2012 Benchmark Price  

Change

Single Family Homes

432400

432600

+200
Condo Townhouse  

277400

278200

+800
Condo    Apartment  

247600

248700

+1100

Absorption Rate (Months of Inventory) – Yes a new category!

The absorption rate is the inventory divided by the number of sales in the last month.

What does this mean you might ask?

An absorption rate of below 3.0 indicates a Seller’s Market

An absorption rate of between 3.0 to 4.0 indicates a Balanced Market

An Absorption rate of above 4.0 indicates a Buyer’s Market.

 

Absorption Rate   July  2012    

Aug  2012  

Change

Single Family Homes

2.63

3.02

+.39
Condo Townhouse  

2.61

2.42

-.19
Condo    Apartment  

3.73

3.38

-.35
Total Calgary

2.78

3.01

+.23

 

Therefore overall we are coming out of a seller’s market and entering a more balanced market.  Please note that these numbers do change on a community basis.  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 anytime.

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

Gord, Eric & Brent

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May 2012 Calgary Real Estate Stats Snapshot

Sunday, June 3rd, 2012
Gord Piper and Associates are proud to present a snapshot of the Calgary Real Estate Market for May 2012. Below you will find a summary of some key areas with a few short comments.  All data is taken from the Calgary Real Estate Board‘s monthly stats package.

Calgary Listing Inventory: Inventory levels for all categories increased by almost 9.0 %.  Rising inventories can be a flag for the market cooling however the sales also increased by 8.2% so we are still below a
2.5 month inventory turnover indicating a balanced market.

Inventory April  2012 May  2012 Change
Single
Family Home 		3501 3842 +341
Condo  Townhouse
 612 675 +63
Condo  Apartment
 1157 1222 +65
Total
 5270 5739 +469
Calgary Sales:
Sales increased in all categories equally this month.  What’s interesting is that for all categories combined we are 31.77% higher than the same period last year.
Sales April  2012 May  2012 Change % Change
Single Family Home 1581 1710 +129 +8.2
Condo
Townhouse 		267 289 +22 +8.2
Condo Apartment 351 386
+35		 +9.9
Total 2200 2385 185 +8.4
Calgary Real Estate Sales Prices:  Please note that we are now using the Benchmark price for this comparison.
With inventory increasing only slightly and sales increasing slightly it only makes sense that we see prices
start to rise.  As you can see below Single Family homes saw the largest increase.  I believe this is because the increase in sales activity on single family homes started a few months before condo sales started increasing.
Sales Prices April  2012 Benchmark Price May  2012 Benchmark Price Change
Single Family Homes 422,000 427,500 +5,500
Condo Townhouse 276,400 277,000 +600
Condo
Apartment 		243,400 245,400 +2,000
Overall the market is now in a balanced market position and the amount of new listings in the next month might determine the direction for the rest of the year.   It is interesting as there are still many communities that are in a buyer’s market position as they have a higher inventory.  If you want to know how your community sit’s please contact us.
Gord, Brent and Eric

 

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February 2012 Calgary Real Estate Market Report

Friday, March 2nd, 2012

Real Estate in Calgary and specifically in Calgary Northwest has picked up the pace substantially.   If you are looking for information specific to your home I would be happy to offer a free no obligation home evaluation.  

 All the numbers below are taken from the Calgary Real Estate Board’s statistics package for Realtors.  Below you will find a summary of some key areas with a few short comments.   

Calgary Listing Inventory:  Inventory levels for both Single Family homes and Condo’s increased this month.   This movement is normal for this time of year and we will most likely see this trend continue for the next several month.  

Inventory   Jan 2012    Feb  2012  Change
Single Family Home 2980 3093 +113
Condo’s 1449 1643 + 194
Total 4430 4736 +306

 

Calgary Sales: 

Calgary Single Family home and Condo sales saw substantial increases in February.         

Sales January 2012 February  2012 Change
Single Family Home 764 1284 + 520
Condo’s 305 453 + 148
Total 1078 1737 + 659

 Calgary Real Estate Sales Prices:  Please note that this section has changed so the numbers look much different from last month.  In the past the numbers I have always used was the median price as this was in my opinion more accurate than simply using an average.  The Canadian Real Estate Association along with the Calgary Real Estate Board have now introduced the MLS Home Price Index which they believe is more accurate than using the Median price and will show less false increases and decreases.  For the purpose of this I will use their benchmark price – what an average home would sell for.  As you can see by the numbers all categories of housing in Calgary increased in the month of February which makes sense to me as the inventory is up only a little and our sales are up substantially.

Sales Prices January Benchmark Price Feb 2012 Benchmark Price   Change
Single Family Homes 422600 427,000 +$4,400
Condo Townhouse 287,900 288,600 + $700.
Condo Apt Style 237,500 242,900 +$5,400

Overall the market has changed from a strong buyers market to a balanced Market and when I look community by community many popular communities are in a seller’s market position now.

If you have any questions about this summary,  or any Real Estate questions please feel free to contact us anytime.  

Gord, Eric & Brent

403-861-2256

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