Posts Tagged ‘Calgary Housing Market’

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Calgary Real Estate Market Snapshot – May 1, 2019

Thursday, May 2nd, 2019

What is really happening in the Calgary Real Estate Market?

Current Months of Inventory: 

Good news for the Calgary Real Estate Market.  Three months in a row we have a trend with the months of inventory decreasing. April saw all sectors decrease with the largest decrease in Apartment Condos which decreased by 1.71 months.  Detached and Attached-Row houses.  Noteworthy is that Detached homes are nearing a balanced market again.

End of Mar 2019 Apr 2019 Change
Detached 4.15 3.97 -0.18
Semi Detached 5.32 4.63 -0.69
Attached – Row 5.44 5.29 -0.15
Apartment 7.87 6.16 -1.71
Total City 4.96 4.57 -0.40

 

Calgary Listing Inventory

In April, our inventory increased in all categories except Semi-Detached which saw a small decrease.  This increase is totally expected as we starting to enter the spring market.  If the increase is balanced with an increase in sales the market will continue to get healthier.

Inventory (End of) Mar 2019 Apr 2019 Change
 Detached 3393 3691 298
Semi Detached 787 773 -14
Attached – Row 947 1053 106
Apartment 1488 1546 58
Total Calgary 6595 7063 468

 

Calgary Sales:

Sales for April increased in all sectors compared to March.   Sales increasing is again an expected change as we move into the spring market. The good news is that sales increases are outpacing listing inventory moving the entire market closer to balanced.

Calgary Sales  Mar 2019 Apr 2019 Change % Change
Detached 818 930 112 13.69%
Semi Detached 148 167 19 12.84%
Attached – Row 174 199 25 14.37%
Apartment 189 251 62 32.80%
Total City 1329 1547 218 16.40%

 

 ***Sales Compared to last year***

In April our sales showed an increase over last April which is the first time in a few years that this has happened.  Hoping the trend continues.

  Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2018 102% 82% 72% 80% 82% 89% 95% 93% 85.9% 89.9% 83.0 78.6
2019 83.8% 89.6% 97.1% 102.2%

 

Calgary Real Estate Sales Prices:

April saw a small increase in prices in all sectors except for Apartment Condo’s which decreased by only $200.

  Sales Prices Mar 2018     Benchmark Price  Apr 2019   Benchmark Price Change
Detached 475,800 478,700 2,900
Semi Detached 391,000 395,300 4,300
Attached – Row 284,900 284,900 0
Apartment 250,600 250,400 -200
Total City 413,900 415,900 2,000

 

Sales Prices “Year to Date”  

Although prices are up a little in April, we have some catch up to do as the earlier months saw losses.

Sales Prices Jan 2019    Benchmark Price  Apr 30, 2019    Benchmark Price Change

$

% Change
Detached 481,400 478,700 -2,700 -0.56%
Semi Detached 397,500 395,300 -2,200 -0.55%
Attached – Row 288,400 284,900 -3,500 -1.21%
Apartment 251,500 250,400 -1,100 -0.44%
Total City 418,500 415,900 -2,600 -0.62%

  

Explanation of our Calgary Real Estate Market Snapshot.

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

Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.

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

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

  

**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.

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March 1, 2019 Calgary Real Estate Market Snapshot

Friday, March 1st, 2019

What is really happening in the Calgary Real Estate Market?

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

Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.

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

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

 

Current Report:  March 1, 2019

This graph shows the 2 year Trend of the number of months of inventory for a housing sectors.

Graph shows the 2 year trend of months of Inventory of all sectors of homes in the Calgary Market.

Current Months of Inventory: 

In February our months of inventory decreased in every housing sector in Calgary.  Although we are certainly in a Buyer’s market this month all sectors moved toward a more balanced market which in my opinion is a great sign.

End of Jan 2019 Feb 2019 Change
Detached 5.83 5.04 -0.79
Semi Detached 7.64 6.63 -1.01
Attached – Row 7.64 6.98 -0.65
Apartment 9.31 8.73 -0.58
Total City 6.81 6.03 -0.78

 

 Calgary Listing Inventory

In February our months of inventory increased in all categories.  This increase is totally expected as we move further away from the holiday season.

Inventory (End of) Jan 2019 Feb 2019 Change
 Detached 2834 2987 153
Semi Detached 649 689 40
Attached – Row 817 908 91
Apartment 1173 1301 128
Total Calgary 5473 5885 412

 

 Calgary Sales:

Sales for February increased in all sectors compared to January.   Although the increase was not substantial it is good to see a change of direction.

Calgary Sales  Jan 2019 Feb 2019 Change % Change
Detached 486 593 107 22.02%
Semi Detached 85 104 19 22.35%
Attached – Row 107 130 23 21.50%
Apartment 126 149 23 18.25%
Total City 804 976 172 21.39%

 

***Sales Compared to last year***

In Feb our sales were 89.6% of last years sales so a decrease of 10.4%.  This trend in my opinion is expected to continue until our economy and consumer confidence change direction.  I am also starting to see and hear from clients who are getting ready to take advantage of the low prices which may kickstart things a little.

  Jan Feb Mar Apr May June July Aug Sept Oct Nov  Dec
2018 102% 82% 72% 80% 82% 89% 95% 93% 85.9% 89.9% 83.0 78.6
2019 83.8% 89.6%

 

Calgary Real Estate Sales Prices:

February saw a very small decrease in prices in detached and Semi-Detached homes.   Attached (Row) houses and Apartment condos showed a slight gain.  Based on our absorption rate (months of inventory) we can expect prices to continue to trend downward.

  Sales Prices Jan 2018     Benchmark Price  Feb 2019   Benchmark Price Change
Detached 476,500 475,600 -900
Semi Detached 393,100 392,500 -600
Attached – Row 284,300 284,600 300
Apartment 251,300 252,300 1,000
Total City 414,800 414,400 -400

 

 Sales Prices “Year to Date”  

Sales Prices Jan 2019    Benchmark Price  Feb 1, 2019    Benchmark Price Change

$

% Change
Detached 481,400 475,600 -5,800 -1.20%
Semi Detached 397,500 392,500 -5,000 -1.26%
Attached – Row 288,400 284,600 -3,800 -1.32%
Apartment 251,500 252,300 800 0.32%
Total City 418,500 414,400 -4,100 -0.98%

 **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 take into account 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.

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Posted in Blog, calgary realtor, Home Sellers, Real Estate Board's Statistics | Comments Closed

Calgary Real Estate Market Snapshot for Jan 1, 2019

Wednesday, January 2nd, 2019

What is really happening in the Calgary Real Estate Market?

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

Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.

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

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

 

Current Monthly Report 

 

 

Current Report

Current Months of Inventory: 

In December our months of inventory increased in all categories except Semi-Detached which decreased a little.  Of note is that apartment condos increased 4.15 months – this is important as last month condos decreased by 1.63 leaving a net 2 month gain of 2.54 months which is still substantial.  All housing categories are now in a “buyer’s market position”.

 

End of Nov 2018    Dec 2018    Change
Detached 5.16 5.23 0.07
Semi Detached 6.97 6.59 -0.39
Attached – Row 6.58 6.81 0.23
Apartment 5.51 9.66 4.15
Total City 5.57 6.18 0.60

 

 

Calgary Listing Inventory

In December, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector followed by the Apartment Condo sector. This decrease is normal at this time of year as people often take their home off the market during the Holiday Season and many will relist in January.

 

Inventory Nov 2018    Dec 2018    Change
 Detached 3507 2592 -915
Semi Detached 753 573 -180
Attached – Row 948 715 -233
Apartment 1323 1024 -299
Total Calgary 6531 4904 -1627

 

Calgary Sales:

In December we saw a decrease in sales in all Categories.  Again, this is very normal as people are busy during the holidays and Real Estate moves often get put off until people are settled in after the holidays.  I speculate that in January these numbers will start to increase.

 

Calgary Sales  Nov 2018    Dec 2018    Change % Change
Detached 680 496 -184 -27.06%
Semi Detached 108 87 -21 -19.44%
Attached – Row 144 105 -39 -27.08%
Apartment 240 106 -134 -55.83%
Total City 1172 794 -378 -32.25%

 

***Sales Compared to last year***

As you can see from the chart below comparing sales to last year’s sales there have been some substantial changes.  In the first half of the year we were trending up and in the last 6 months we are trending down rather quickly.  My belief is that this is due to the Economic conditions in Calgary and declining consumer confidence.

Jan Feb Mar Apr May June July Aug Sept Oct Nov  Dec
102% 82% 72% 80% 82% 89% 95% 93% 85.9% 89.9% 83.0 78.6

 

 

Calgary Real Estate Sales Prices:

December saw prices decrease in all sectors with the largest decrease being in the Detached home sector.  This is expected with the high number of months of inventory on the market.  Unless something changes we can expect to see this trend for a few more months.

  Sales Prices Nov 2018     Benchmark Price   Dec 2018   Benchmark Price Change
Detached 486,000 481,400 -4,600
Semi Detached 400,700 397,500 -3,200
Attached – Row 292,900 288,400 -4,500
Apartment 252,800 251,500 -1,300
Total City 422,600 418,500 -4,100

 

 

Sales Prices “Year to Date”  

Well the numbers are finally in for 2018 with all categories showing a loss in the Benchmark price.

Sales Prices Jan 1, 2018    Benchmark Price  Dec 2018   Benchmark Price Change

$

% Change
Detached 498,700 481,400 -17,300 -3.47%
Semi Detached 412,500 397,500 -15,000 -3.64%
Attached – Row 296,700 288,400 -8,300 -2.80%
Apartment 256,400 251,500 -4,900 -1.91%
Total City 432,400 418,500 -13,900 -3.21%

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Calgary Real Estate Market Snapshot Oct 1, 2018

Tuesday, October 2nd, 2018

Months of Inventory for the Calgary Real Estate Market

What is really happening in the Calgary Real Estate Market?

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

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

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

_________________________________________________________________________

Current Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.  In September we saw every category increase quite substantially in the number of months of inventory putting the entire Calgary market into a buyer’s market position.

End of Aug 2018    Sept 2018    Change
Detached 4.78 5.49 0.71
Semi Detached 6.45 7.09 0.64
Attached – Row 6.22 7.58 1.36
Apartment 6.86 7.68 0.82
Total City 5.45 6.25 0.80

 

 Calgary Listing Inventory

In September, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector followed by the apartment condo sector.  This is normal at this time of year and we should expect this trend to continue for the rest of the year.

***One interesting note is that in the last 2 days of September the inventory decreased by almost 500 listings. I believe this is listings expiring and some of these will get re-listed as this is exactly what happened last month.

Inventory Aug 2018    Sept 2018    Change
 Detached 4433 4348 -85
Semi Detached 909 872 -37
Attached – Row 1113 1107 -6
Apartment 1666 1620 -46
Total Calgary 8121 7947 -174

 

Calgary Sales:

Sales were down in all categories. This is normal for September as we will now tread down every month until the new year.

Calgary Sales  Aug 2018    Sept 2018    Change % Change
Detached 927 792 -135 -14.56%
Semi Detached 141 123 -18 -12.77%
Attached – Row 179 146 -33 -18.44%
Apartment 243 211 -32 -13.17%
Total City 1490 1272 -218 -14.63%

 

Sales Compared to last year:  Thought this is a number that deserves a look as the trend is changing. This chart shows this year’s sales as a percentage of last years so yes,  sales are down but they are down less than at the beginning of the year.

Jan Feb Mar Apr May June July Aug Sept Oct Nov  Dec
102% 82% 72% 80% 82% 89% 95% 93% 85.9      

 

Calgary Real Estate Sales Prices:

September saw prices decrease in all sectors which is expected with the high number of months of inventory on the market.  Unless something changes we can expect to see this trend for a few more months.

  Sales Prices Aug 2018     Benchmark Price   Sept 2018   Benchmark Price Change
Detached 497,000 493,100 -3,900
Semi Detached 411,300 407,400 -3,900
Attached – Row 296,700 294,200 -2,500
Apartment 258,100 257,200 -900
Total City 432,000 428,700 -3,300

 

Sales Prices “Year to Date”  

Same as monthly number

Sales Prices Jan 1, 2018    Benchmark Price  Sept 2018   Benchmark Price Change

$

% Change
Detached 499,600 493,100 -6,500 -1.30%
Semi Detached 416,600 407,400 -9,200 -2.21%
Attached – Row 299,500 294,200 -5,300 -1.77%
Apartment 257,700 257,200 -500 -0.19%
Total City 433,200 428,700 -4,500 -1.04%

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Calgary Real Estate Market Snapshot Sept 1, 2018

Tuesday, September 4th, 2018
What is really Happening in the Calgary Real Estate Market?

What is really Happening in the Calgary Real Estate Market?

 

What is really happening in the Calgary Real Estate Market?

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

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

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

 

Current Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.

In August the months of inventory remained fairly flat with the exception of Attached-Row homes which decreased by .56  I see this as a correction as last month this number went up by over 1.0

 

End of July 2018    Aug 2018    Change
Detached 4.72 4.78 0.06
Semi Detached 6.07 6.45 0.37
Attached – Row 6.78 6.22 -0.56
Apartment 7.01 6.86 -0.16
Total City 5.46 5.45 -0.01

 

 Calgary Listing Inventory

In August, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector. This is totally normal at this time of year and we should expect this trend to continue for the rest of the year.

 

Inventory July 2018    Aug 2018    Change
 Detached 4578 4433 -145
Semi Detached 911 909 -2
Attached – Row 1187 1113 -74
Apartment 1774 1666 -108
Total Calgary 8450 8121 -329

 

Calgary Sales:

Sales were down in all categories (except Attached-Row which increased by 4) , This is normal for August as we are moving out of our busy season and people are focused on vacations and outdoor activities and now back to school.

 

Calgary Sales  July 2018    Aug 2018    Change % Change
Detached 969 927 -42 -4.33%
Semi Detached 150 141 -9 -6.00%
Attached – Row 175 179 4 2.29%
Apartment 253 243 -10 -3.95%
Total City 1547 1490 -57 -3.68%

 

Sales Compared to last year:  Thought this is a number that deserves a look as the trend is changing. Chart shows this year’s sales as a percentage of last years so yes sales are down but they are down less than at the beginning of the year.

Jan Feb Mar Apr May June July Aug Sept Oct Nov  Dec
102% 82% 72% 80% 82% 89% 95% 93% ‘

 

 Calgary Real Estate Sales Prices:

As you can see prices in all sectors decreased in August.  As we are now in a buyer’s market we should expect prices to decline slightly which is what happened.

 

  Sales Prices July 2018   Benchmark Price   Aug 2018   Benchmark Price Change
Detached 501,300 497,000 -4,300
Semi Detached 416,200 411,300 -4,900
Attached – Row 300,300 296,700 -3,600
Apartment 259,700 258,100 -1,600
Total City 435,200 432,000 -3,200

  

Sales Prices “Year to Date”  

Same as monthly number

Sales Prices Jan 1, 2018    Benchmark Price  Aug 2018   Benchmark Price Change

$

% Change
Detached 499,600 497,000 -2,600 -0.52%
Semi Detached 416,600 411,300 -5,300 -1.27%
Attached – Row 299,500 296,700 -2,800 -0.93%
Apartment 257,700 258,100 400 0.16%
Total City 433,200 432,000 -1,200 -0.28%

  

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

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Calgary Real Estate Market Snapshot

Tuesday, July 3rd, 2018

What is really happening in the Calgary Real Estate Market?

Calgary Real Estate Absorption Rate

Calgary Real Estate Absorption Rate

Calgary Real Estate Absorption Rate

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

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

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

 

Watch the Trend

On the above graph it is important to see the trends – Especially the apartment condo absorption rate- it  is trending downward and is closing the gap with the rest of the sectors.

 Current Absorption Rate

The absorption rate for all categories except Attached-Row houses declined this month which in my opinion is a good thing as it shows a little more balance in the market.

End of May 2018    June 2018    Change
Detached 4.26 3.98 -0.28
Semi Detached 5.53 5.04 -0.49
Attached – Row 5.06 5.73 0.67
Apartment 6.81 6.41 -0.40
Total City 4.90 4.65 -0.24

  

Calgary Listing Inventory

In June, our inventory increased in all sectors except apartment condos.  This is totally expected at this time of year.  July should be an interesting month as the typical July will see listings drop off.   The decrease in apartment condos I would contribute to listings expiring as sales were flat.

 

Inventory May 2018    June 2018    Change
  Detached 4504 4817 313
Semi Detached 862 922 60
Attached – Row 1163 1209 46
Apartment 1921 1872 -49
Total City 8450 8820 370

 

Calgary Sales:

Sales were again up in all categories except for Attached Row houses which were down only 19 from May. The percentage looks big at 8.26 due to small numbers in this sector.

Sales for June were 11% down from last year but this is again an improvement as May sales were down 18.4% from last year.

Calgary Sales  May 2018    June 2018    Change % Change
Detached 1058 1210 152 14.37%
Semi Detached 156 183 27 17.31%
Attached – Row 230 211 -19 -8.26%
Apartment 282 292 10 3.55%
Total City 1726 1896 170 9.85%

 

 Calgary Real Estate Sales Prices:

This one has me stumped.  In theory the sector with the highest absorption rate should have the biggest decline in price.  The opposite took place in June with every sector dropping a little except Apartment Condos which increased in price.

  Sales Prices May 2018   Benchmark Price   June 2018   Benchmark Price Change
Detached 504,500 503,100 -1,400
Semi Detached 419,000 418,000 -1,000
Attached – Row 303,200 302,300 -900
Apartment 256,200 259,100 2,900
Total City 436,900 436,500 -400

  

Sales Prices “Year to Date”  

Same as monthly number

Sales Prices Jan 1, 2018    Benchmark Price  June 2018   Benchmark Price Change

$

% Change
Detached 499,600 503,100 3,500 0.70%
Semi Detached 416,600 418,000 1,400 0.34%
Attached – Row 299,500 302,300 2,800 0.93%
Apartment 257,700 259,100 1,400 0.54%
Total City 433,200 436,500 3,300 0.76%

  

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

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

Calgary Real Estate Market Snapshot – Dec. 1, 2017

Saturday, December 2nd, 2017

Absorption Rate Dec. 2017

What is really happening in the Calgary Real Estate Market?

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

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

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

Current Absorption Rate

The Absorption rate for November decreased in all categories except Semi – Detached which rose a little.  In my opinion this is mainly due to listings expiring and not due to sales.  Either way this is good as it is keeping the market fairly balanced. 

Oct  2017  Nov  2017  Change
Detached 3.57 3.15 -0.42
Semi Detached 4.27 4.40 0.13
Attached – Row 5.28 4.60 -0.68
Apartment 7.03 6.69 -0.35
Total City 4.41 4.01 -0.39

 

Calgary Listing Inventory

In November all categories saw a decrease in the number of listings.  This is normal for this time of year where people will let their listing expire and then put it back on in the new year.

Inventory Oct  2017  Nov  2017  Change
Detached 3246 2758 -488
Semi Detached 611 555 -56
Attached – Row 967 861 -106
Apartment 1639 1491 -148
Total City 6463 5665 -798

 

 

Calgary Sales:

Sales for November saw a small decrease overall.  Attached Row homes are the only category to show an increase.  Semi-Detached saw a rather large decrease and it’s my belief that this is simply listings expiring that will be relisted in January.

Of interest Calgary year to date sales are 15% above last year’s sales.

Calgary Sales  Oct  2017  Nov  2017  Change % Change
Detached 908 875 -33 -3.63%
Semi Detached 143 126 -17 -11.89%
Attached – Row 183 187 4 2.19%
Apartment 233 223 -10 -4.29%
Total City 1467 1411 -56 -3.82%

    

Calgary Real Estate Sales Prices:

Prices for November showed a slight decrease in Calgary.  This in my opinion is mainly due to consumer confidence or lack of it.

  Sales Prices Oct  2017  Benchmark Price   Nov  2017  Benchmark Price Change
Detached 506,200 504,000 -2,200
Semi Detached 419,000 417,800 -1,200
Attached – Row 305,000 303,100 -1,900
Apartment 261,600 258,300 -3,300
Total City 438,900 436,700 -2,200

 

Sales Prices “Year to Date”  

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

$

% Change
Detached 498,700 504,000 5,300 1.06%
Semi Detached 406,800 417,800 11,000 2.70%
Attached – Row 302,600 303,100 500 0.17%
Apartment 265,000 258,300 -6,700 -2.53%
Total City 433,400 436,700 3,300 0.76%

 **Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.

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March 1, 2017 Calgary Real Estate snapshot

Wednesday, March 1st, 2017

The Calgary Real Estate Market in changing.

Detached homes are now in a Seller’s market position

Semi-Detached homes are now into a balanced market position

Row (Townhouses) and Apartment condos are in a buyers market position but have moved drastically into a better market (towards balanced)

 

Absorption rate for the Calgary Real Estate market for February 2017.

Absorption rate for the Calgary Real Estate market for February 2017.

What is really happening in the Calgary Real Estate market?

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

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

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

*** Absorption Rate***  

The absorption rate for all of Calgary decreased quite substantially this month.  Not a lot of listings going on market but more importantly a large increase in sales is driving this.  Detached homes have now gone into a Seller’s Market position,  Attached-Row & Apartment condos are still in a buyer’s market and Semi-detached is in a balanced market.

 

December   2016 January  2017 Change
Detached 3.17 2.41 -0.75
Semi Detached 4.61 3.44 -1.17
Attached – Row 4.73 4.41 -0.32
Apartment 8.40 5.88 -2.53
Total City 4.34 3.35 -0.99

 

Calgary Listing Inventory

February saw a slight increase in our inventory level in all categories.  This is a normal pattern for February as were approaching the spring market.  Normal trends would predict that over the next few months we will continue to see more listings so a further increase in inventory.

Inventory December   2016 January  2017 Change
Detached 1849 1990 141
Semi Detached 383 437 54
Attached – Row 610 679 69
Apartment 1269 1387 118
Total City 4112 4493 381

 

Calgary Sales:

Wow.  Every Category saw a large increase in sales in February.  The smallest increase was in Attached-row houses (townhouses) and they still increased over Jan by 19.38%   It is normal for us to see an increase in sales from Jan to Feb but this is a large increase which the Calgary Market has been waiting for, for some time.

 

Calgary Sales   December   2016 January  2017 Change % Change
Detached 584 825 241 41.27%
Semi Detached 83 127 44 53.01%
Attached – Row 129 154 25 19.38%
Apartment 151 236 85 56.29%
Total City 947 1342 395 41.71%

  

Calgary Real Estate Sales Prices: 

Prices are consistent with our Absorption rate with Detached and Semi Detached prices rising while Attached-Row houses and apartment condos decreased a little more as they are still in a buyer’s market position.   My predictions for the next few months is more of the same trends.

  Sales Prices December   2016 Benchmark Price  January  2017 Benchmark Price Change
Detached 500,400 501,900 1,500
Semi Detached 384,600 386,300 1,700
Attached – Row 307,100 305,900 -1,200
Apartment 269,900 269,200 -700
Total City 437,400 438,100 700

 

Sales Prices “Year to Date”   

 

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

$

% Change
Detached 498,300 501,900 3,600 0.72%
Semi Detached 385,400 386,300 900 0.23%
Attached – Row 307,900 305,900 -2,000 -0.65%
Apartment 269,200 269,200 0 0.00%
Total City 435,400 438,100 2,700 0.62%

Price Sensitivity

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

 

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Sept 1, 2016 Calgary Real Estate Market Snapshot

Friday, September 2nd, 2016

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

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

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

*** Absorption Rate***  

In my opinion this is the most critical number to look at.  All categories except for apartment condos increased slightly this month.  Apartment condos took a small decrease and this is most likely balancing out from last month when it increased substantially.  In summary Detached and Attached homes are doing well while row houses and apartment condos are showing an oversupply of inventory compared to sales.

  July 2016 August  2016 Change
Detached 2.47 2.78 0.30
Semi Detached 2.88 3.60 0.72
Attached – Row 4.43 4.77 0.34
Apartment 6.11 5.88 -0.23
Total City 3.27 3.61 0.34

 

Calgary Listing Inventory

August inventory levels stayed almost the same as July Levels

Inventory July 2016 August  2016 Change
Detached 2746 2720 -26
Semi Detached 521 497 -24
Attached – Row 886 868 -18
Apartment 1558 1571 13
Total City 5711 5656 -55

 

Calgary Sales:

Sales in all categories decreased this month which in my opinion is very normal for this time of year with summer holidays and many peoples focusing on getting kids ready to go back to school.

Important note:  Sales from July to August 2015 decreased by 193 or 11.7%  compared to 10.2% this year.

Calgary Sales   July 2016 August  2016 Change % Change
Detached 1110 980 -130 -11.71%
Semi Detached 181 138 -43 -23.76%
Attached – Row 200 182 -18 -9.00%
Apartment 255 267 12 4.71%
Total City 1745 1567 -178 -10.20%

 

Calgary Real Estate Sales Prices: 

Pricing changes in August were not drastic.  Detached and Semi Detached increased while Attached-Row and Apartment categories decreased with the largest decrease in the Apartment category which is the sector with the highest absorption rate.   I would expect further price declines in the Apartment condo sector.

  Sales Prices July 2016 Benchmark Price    August  2016

Benchmark Price

 Change
Detached 502,300 503,200 900
Semi Detached 385,200 387,100 1,900
Attached – Row 310,300 310,000 -300
Apartment 277,000 274,900 -2,100
Total City 440,000 440,200 200

  

Sales Prices “Year to Date”   

Year to date prices

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

$

% Change
Detached 514100 503,200 -10,900 -2.12%
Semi Detached 393100 387,100 -6,000 -1.53%
Attached – Row 318500 310,000 -8,500 -2.67%
Apartment 288,000 274,900 -13,100 -4.55%
Total City 452800 440,200 -12,600 -2.78%

Point of Interest

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

 Price Sensitivity

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

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

 

 

 

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Buyers vs. Sellers Market—What is the Difference?

Wednesday, July 6th, 2016

There are many factors which affect the real estate market–interest rates, employment, investment growth, legislative changes and new construction, to name a few. All of these factors influence the real estate market in some way.

In a buyer’s market, there are more homes for sale than there are buyers. This could be a result of high unemployment, fear of interest rate increases or other factors which make people think twice about purchasing a home for the first time or moving up into a larger home. The advantage buyers have in a buyers’ market is that they can typically take their time and look at all of their options before buying. Overall, home prices may go down in a buyer’s market.

In a seller’s market, there are fewer homes for sale to a larger pool of buyers. The factors at work could be sustained low interest rates, high employment rate, legislative changes which make it easier to purchase a property–events and conditions that make buyers think it would be a good time to buy a big ticket item like a home.

The advantage goes to the seller in a seller’s market–typically home prices will rise as buyers are quick to make an offer to secure the property.

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