Posts Tagged ‘Calgary Housing Market’

« Older Entries

Calgary Real Estate Market Snapshot for Jan 1, 2023

Tuesday, January 3rd, 2023

What is really happening in the Calgary Real Estate Market?

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

Calgary Real Estate Market Trend

Graph shows the months of inventory for all sectors in the Calgary Real Estate Market. Also show for each sector it that sector is in a Buyers, Sellers or Balanced Market position.

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

December 2022 Highlights

The Calgary Market continues to stay strong!

  • Our Inventory continues to decline, and we are well below normal levels of listings
  • Sales declined but not as much as Inventory
  • Months of Inventory declined again

 

2022 Summary at a Glance

The first half of the year sales were sky high and tapered off in the last half of the year.

  • Sales reached a record high in 2022 with 29,672 sales
  • As of January 1, there were 2214 listings on the market – the lowest level of Inventory for December in over a decade.
  • Calgary continues to report activity that is better than levels seen before the pandemic and higher than long term trends.
  • Benchmark Prices eased to $518,000 in December down 5% from the peak in May but are still almost 8% higher than December last year.

 

Calgary Listing Inventory

Listing Inventory declined again this month. In all sectors combined we are down 28.79% in listings from December 1st. While declining numbers of listings are normal for this time of year this is a steeper decline than what I would like to see. Although this is good for sellers, I think this could be another tough year for buyers.

 

Calgary Sales:

All sectors saw a decrease of sales in December, overall sectors the decline was 26.94% putting the decline of sales less than the decline of inventory (listings).

 

Sales Compared to 2021: 

It is also important to look at sales compared to the Previous year. Sales for December were down 30.61% when compared to last December of 2021. Although this looks like a substantial number, we also need to consider that last December is when things in the Calgary Real Estate Market started getting heated so not meeting last years sales does not concern me at all. Overall sales in December were still above the long-term average.

 

  Jan Feb Mar Apr May June July
2021 1207 1831 2903 3204 2981 2914 2314
2022 2009 3305 4107 3401 3071 2842 2254
Change + 802 1474 +1204 +197 90 -72 -60
% Change + 66.4% +180.5% +141.5% +1.06 +1.03% 2.5% 2.7%

 

 

  Aug Sept Oct Nov Dec
2021 2146 2157 2184 2108 1735
2022 2136 1901 1857 1648 1204
Change -10 -256 -327 -460 -531
% Change -.5% -11.9% -17.6% -21.8% 30.61%

  

Calgary Real Estate Benchmark Sales Prices:

The benchmark price for all sectors combined declined by $1,400 in December. All sectors saw a decline except the Semi-Detached Sector that increased by $200.

 

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

Year to date the Calgary Benchmark Price increased by 7.81% in 2022. All the increases were between 7.8% to 9.8% except the Attached Row Sector which increased by 14.36%. See stats below for sector breakdowns.

 

Current Months of Inventory (Absorption Rate): 

The Detached and Attached Row houses both saw a small decline in the months of inventory.

The apartment condo market saw a slight increase of .11 while the Semi-Detached market saw a significant increase of .58 months of Inventory.

 

What might the first quarter of 2023 bring: (again just my opinion)

Based on what I am seeing, I believe that for the first half of the year we will continue to see a low inventory of listings. This is going to push sales numbers down as buyers are just not finding what they are looking for so are waiting. Depending what the Federal bank does with interest rates, but I speculate that we will see another 1 or 2 increases in the interest rate which will put more downward pressure on demand.

 

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

All numbers vary by community and price ranges, if you would like stat specifically for your neighborhood, please contact us.

Stats from the Calgary Real Estate Board

Shows the number of listings, sales, Benchmark Price and Months of Inventory for all sectors of the Calgary Real Estate Market for the last 2 months along with the change. Numbers are taken from the Calgary Real Estate Board Realtors Stats package.

Tags:, , , , , , ,
Posted in Blog, Market Snapshot | Comments Closed

Calgary Real Estate Market Snapshot – May 1, 2022

Monday, May 2nd, 2022

What is really happening in the Calgary Real Estate Market?   Yes, there is change on the horizon!

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

Months of Inventory

Months of Inventory

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

March 2022 Highlights

  • The direction of months of Inventory has changed and it is now increasing in all sectors – marginally!
  • All Sectors of the Calgary Real Estate Market continue to be in a deep seller’s Market position
  • Sales continue to be strong but are cooling from the highs we have had in recent months.
  • Prices are still going up
  • We are still running low on Inventory
  • We are still seeing multiple offers, but the offers are now much more reasonable.

 

Calgary Listing Inventory

Listing inventory increased in all sectors combined by a total of 486 listings or 11.14%. The highest increase was in Detached homes at 12.2% and the lowest was in the Semi – Detached sector of 1.87%

 

Calgary Sales:

This is where the largest change has happened. Total Sales for the month dropped from last month by a total of 706 sales or 17.19%.  The decrease was fairly consistent across all sectors.

 

Sales Compared to 2021: 

Calgary home sales for April were just slightly higher than in April 2021 – by 197 Sales or 1.06%

 

  Jan Feb Mar Apr May June July
2021 1207 1831 2903 3204      
2022 2009 3305 4107 3401      
Change + 802 1474 +1204 +197      
% Change + 66.4% +180.5% +141.5% +1.06      

  

  Aug Sept Oct Nov Dec
2020 1574 1702 1763 1438 1199
2021 2151 2162 2186 2110 1737
Change +577 +456 + 423 +672 +538
% Change 136.6% 126.7% 123.9% 146.7% 144.9%

 

 

Calgary Real Estate Benchmark Sales Prices:

The benchmark price for all sectors increased combined increased by 1.56% or $8,100. The increase was consistent across all sectors.

 

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

Year to date all sectors combined have increased by $62,800 or 13.54%. The highest increase (14.91%) was in the Detached home sector while the lowest increase was in the Apartment Condo sector (8.35%).

 

Current Months of Inventory (Absorption Rate): 

The months of inventory increased in all sectors in April by an average of .36

All sectors were equal with the lowest increase (.18) being in the Semi-Detached sector.

 

What might 2022 bring: (again just my opinion)

Based on what I am seeing we are on our way towards a more balanced market although if the increase in months of inventory rises at the same rate that it has been it will take us between 2 to 3 months to hit balanced. Apartment condos may reach balanced within 1-2 months. With all sectors still in a Sellers Market position we will continue to see price increases – just not to the level it has been the last 3 months.

 

Tags:, , , , ,
Posted in Blog | Comments Closed

Calgary Real Estate Market Snapshot March 1, 2022

Tuesday, March 1st, 2022

What is really happening in the Calgary Real Estate Market?

Another month of record sales and sharp price increases!

Real Estate Prices Rising

Real Estate Prices Rising

 

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

Months of Inventory

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

 

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

2022 Highlights

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

 

Calgary Listing Inventory

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

 

Calgary Sales:

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

 

Sales Compared to 2021:  This puts things into Perspective

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

 

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

 

 

 Last years numbers 

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

 

 

Calgary Real Estate Benchmark Sales Prices:

The benchmark price for all sectors increased in February.

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

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

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

Apartment Condos decreased by $5,900 or 7.65%

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

 

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

Same Stats below

 Current Months of Inventory (Absorption Rate): 

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

 What might 2022 bring: (again just my opinion)

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

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

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

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

Calgary Housing Stats

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

Tags:, , , ,
Posted in Blog | Comments Closed

October 1, 2021 Calgary Real Estate Market Snapshot

Friday, October 1st, 2021

What is really happening in the Calgary Real Estate Market?

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

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

Months of Inventory

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

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

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

Calgary Listing Inventory

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

 Calgary Sales:

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

 Sales Compared to 2020:

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

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

 

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

 

 Calgary Real Estate Benchmark Sales Prices:

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

Calgary Real Estate Benchmark Sales Price:  See chart below.

 Current Months of Inventory (Absorption Rate): 

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

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

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

Stats from the Calgary Real Estate Board

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

 

 

Tags:, , , ,
Posted in Blog, Market Snapshot | Comments Closed

June 1, 2021 Calgary Real Estate Market Snapshot

Tuesday, June 1st, 2021

What is really happening in the Calgary Real Estate Market?

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

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

2 year trend – Months of Inventory

 

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

Another huge month for Calgary Real Estate although Change is on the way again.

“Buyers Beware” The booming market has already brought out sellers who are fishing for huge dollars, yes there are more than a normal number of homes listed substantially above what the market will bear.

 

Calgary Listing Inventory

Listing inventory in Calgary increased in every sector with the largest increase in the Detached Sector at 15%.  The lowest increase was in Semi-Detached homes at 3.92. The overall market increased by 11.73%

Calgary Sales:

Sales in all sectors are booming although we are seeing signs of a slight slowdown across all sectors. The largest decrease was in Apartment condos at 13.86% decline, the lowest decline in sales was Attached-Row homes at 1.42% Overall decline in sales was 6.86% from April highs.

I do not for a minute believe the demand has gone down, what I believe is causing the decline is the availability of homes.

 Sales Compared to 2020:

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

in a collapsed market due to Covid and the First Shutdown.

 

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

 

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

 

 Calgary Real Estate Benchmark Sales Prices:

Overall, the benchmark price in Calgary increased again in May by $3,800.

The largest gain was in Semi-Detached at $5,700 Detached homes at $4,200, Attached Row at $3,000, and Apartment Condos at $700.

 

Current Months of Inventory (Absorption Rate): 

With the increases in inventory and the reduction in sales our Months of Inventory is starting to rise again.  Still positioned in a Seller’s market are Detached and Semi-Detached homes.  Attached Row homes just came out of the seller’s market to a balanced market position.  Apartment condos are still sitting at 5.18 Months of inventory so very much in a buyer’s market.

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

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

 

Data taken from the Calgary Real Estate Boards Monthly Stats Package.

Tags:, , , , ,
Posted in Blog, Market Snapshot | Comments Closed

Calgary Real Estate Market Snapshot Feb 1, 2021

Monday, February 1st, 2021

What is really happening in the Calgary Real Estate Market?

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

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

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

 

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

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

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

Calgary Listing Inventory

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

Calgary Sales:

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

Sales Compared to 2020:

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

 

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

 

 Calgary Real Estate Benchmark Sales Prices:

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

 

Current Months of Inventory (Absorption Rate): 

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

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

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

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

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

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

 

CREB Stats for January of 2021

 

 

 

 

 

 

 

Tags:, , , , , ,
Posted in Blog, Real Estate Board's Statistics | Comments Closed

Calgary Real Estate Market Snapshot: Jan 2021

Monday, January 4th, 2021

 What is really happening in the Calgary Real Estate Market?

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

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

Months of Listing Inventory

Months of Listing Inventory

 

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

Show Listing inventory, Sales, and Benchmark prices for all sectors of the Calgary Real Estate Market.

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

Listing inventory decreased by 27% in all Sectors combined while sales also decreased but by only 16.5% from November lowering our months of Inventory and putting Detached and Semi-Detached homes into a seller’s market position.

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

Calgary Listing Inventory

Listing inventory decreased by 27% in all Sectors combined which is a normal trend for this time of year.  How many people really want their home listed during the holiday season.   by which is 100% normal for the Holiday Season.

 Calgary Sales:

Sales in all sectors dropped in December compared to November – again 100 % normal for December as peoples focus turns on Christmas and away from Real Estate.  It is worth noting that compared to last December sales are up by over 40%.

 Sales Compared to 2019:

It is critical to note that in all my other numbers I look at month over month.  This chart below shows us the numbers this year compared to last year.   Although December sales slowed, we were still 343 sales higher than last year or 40.7% higher.

 

  Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2019 801 973 1327 1544 1915 1775 1642 1580 1365 1438 1146 858
2020 861 1195 1175 573 1080 1747 1835 80 1702 1764 1437 1199
Change +60 +222 -152 -971 -835 -28 +194 -7 337 +326 +327 +343
% change +7.49 +22.8 -11.4 -62.8 -45.5 -1.6 +11.82% N/A 24.87% +22.67% +25.4% =40.7

  

Calgary Year to Date Sales

2019:  16,344 Sales

2020:  16,152 Sales

Therefore, at the end of the Year sales are down only 1.17% from 2019.

 

Calgary Real Estate Benchmark Sales Prices:

All sectors decreased slightly from last month.  Decreases were from $1,300 to $1,800 so very marginal.

 

Calgary Real Estate Sales Prices Year to Date: 2020

Detached homes increased by $10,400

Semi-Detached homes decreased by $800

Attached Row houses decreased by $2,500

Apartment Condos decreased by $4,800

 

Current Months of Inventory (Absorption Rate): 

The months of Inventory decreased in all Sectors.  December saw a large decrease in listings and saw a small decrease in sales.  We are moving into Sellers Market territory in the Detached and Semi-Detached sectors.  Attached Row and Apartment Condo are still in strong Buyers Market Conditions.

 

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

 

Tags:, , , , ,
Posted in Blog, Home Sellers, Market Snapshot, Property Values, Real Estate Board's Statistics | Comments Closed

Calgary Real Estate Market Snapshot: Nov 1, 2020

Monday, November 2nd, 2020

 What is really happening in the Calgary Real Estate Market?

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

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

Months of Inventory

 

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

Stats taken from the Calgary Real Estate Boards Stats Package.

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

Another strong month in the Calgary Real Estate Market with sales up and inventory down.

Calgary Listing Inventory

Our total listing inventory dropped in all sectors with  a total decrease of 453 listings or 7.21%. Most of the decrease was in the detached home sector with a decrease of 340 listings.

 Calgary Sales:

October sales beat September sales by 58 sales or 3.4%.  The detached and semi-detached saw increases while the Attached-Row and apartment condo sector saw a slight decline.  This is opposite of the normal where in October we are seeing sales declining from the peak.

 Sales Compared to 2019:

It is critical to note that in all my other numbers I look at month over month.  This chart below shows us the numbers this year compared to last year.   October sales were 22.67% higher than last October.

 

Calgary Real Estate Benchmark Sales Prices:

For the third month in a row the Benchmark Price overall increased by $550. It is interesting that every sector’s benchmark price increased this month.

 

Calgary Real Estate Sales Prices Year to Date

Since the beginning of the year

Increases of $9,700 in Detached homes, and $600. In Semi Detached and $200. In Apartment condos.

Decreases of $8,600 in the Attached-Row sector.

 

Current Months of Inventory (Absorption Rate): 

The months of Inventory decreased in Detached homes and Semi-detached while the Attached-row and Apartment sectors both saw increases.

 

It is also important to note that these numbers vary by community, and by price range.  If you would like numbers for your community contact us.   For example, many communities if I look at listings under $500,000, they are showing being in a Sellers Market position and are getting competing offers.

 

Tags:, ,
Posted in Blog, Market Snapshot | Comments Closed

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

Monday, March 2nd, 2020

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

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

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

 

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

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

 

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

 

Current Months of Inventory (Absorption Rate): 

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

 

Calgary Listing Inventory

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

 

Calgary Sales:

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

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

 

Sales Compared to 2019:

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

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

 

 

Calgary Real Estate Sales Prices:

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

 

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

 

Tags:, , ,
Posted in Blog, Home Sellers, Property Values, Real Estate Board's Statistics | Comments Closed

What is happening in the Calgary Real Estate Market- Sept 1, 2019

Wednesday, September 4th, 2019

What is really happening in the Calgary Real Estate Market?

 

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

Current Report: September 1, 2019

 A slightly new format this month and moving forward due to technology challenges with reading the graphs on a cell phone.  This should help.

Below see all the stats (Info taken from the Calgary Real Estate Boards Monthly Stats Package.

 

Gord’s Commentary

 Current Months of Inventory (Absorption Rate): 

The big change here is that Semi-Detached homes months of inventory decreased by 59.  This is a large change and is moving closer toward a balanced market.

Detached homes increased by .26 but are still sitting in a balanced market.  Of interest if you look at this number for detached homes under $500,000 it puts us into a Sellers market in many communities.  Apartment and Attached-Row homes moved up but only by .14

 

Calgary Listing Inventory

Through August our Listing Inventory decreased slightly in all housing sectors for a total of 127 less listings on Sept 1st than on Ang 1st.   In my opinion this is a seasonal trend with less people selling due to back to school etc.

 Calgary Sales:

Sales for August decreased for detached homes by 87, Attached Row homes and Apartment Condos decreased by 10 and 9.  Semi Detached homes increased by 14.

Overall change is 62 less sales which is identical to last year so I’m going to call it a seasonal adjustment.

 Sales Compared to 2018: 

August sales over 2019 were 106.3% on August sales in 2018.  This is the exact same number as last month.

Calgary Real Estate Sales Prices:

August saw detached homes increase by $7000 – I believe this is driven by homes under $500,000 where we are seeing a Seller’s market.  All other sectors were within $1000 so really no change.

Months of Inventory/Absorption Rate: What does this mean you might ask?

The inventory divided by the number of sales in the last month).

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

 

 

 

 

 

 

 

 

 

 

 

 

 

Tags:, , , ,
Posted in Blog, Market Snapshot | Comments Closed

« Older Entries