Posts Tagged ‘Calgary Real Estate Absorption Rate’

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

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What is happening in the Calgary Real Estate Market? August 1, 2019 Snapshot

Thursday, August 1st, 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.

 Calgary Real Estate Market Months of Inventory

 

August 1, 2019  Market Snapshot Report 

 Highlights:  

Detached homes move into a balanced market position.

Apartment Condos Months of Inventory drops by 1.11

Semi Detached Months of Inventory Increases by 1.02

Here are the number’s for July 2019

 

A short explanation of the above numbers including highlights.

Current Months of Inventory: 

Through July our Months of Inventory is all over the map.   Apartment Condo’s dropped by 1.11 which is a large change.  At the same time Semi – Detached homes increased by 1.02 again a big jump.  Detached homes, Attached Row and the total for Calgary all increased marginally.

 

Calgary Listing Inventory

In July, our inventory decreased in all sectors.  The decreased inventory is due to less new listings hitting the market and stronger sales.

 

Calgary Sales:

Sales for July decreased in all categories except Apartment Condos which increased only marginally.  This to me is an interesting number as sales normally trend downward from June to July as we have the Calgary Stampede and Summer Vacations are getting underway.  This in my opinion is a sign that the strength of Calgary Real Estate Market is getting better.

 

Sales Compared to 2018: 

June 2019 was 93.9% of  June 2018 sales

July 2019 was 106.4% of July 2018 Sales so a very good improvement.

 

Calgary Real Estate Sales Prices:

July prices remained very similar to June’s prices.  The largest change is in Attached-Row houses which increased by $2,100

 

 

**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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Calgary Real Estate Market Snapshot July 1, 2019

Tuesday, July 2nd, 2019

What is really happening in the Calgary Real Estate Market?

Lets look at the number of months of Inventory AKA Absorption Rate

 

 

 Current Report: July 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.  New format shows all numbers first and then my comments.

 

Current Months of Inventory: 

Through June our Months of Inventory increased in all categories except Attached Row houses.   The only Substantial increase is in Apartment Condos which increased by 1.58, Attached Row decreased by .38

Interesting to note that Detached Homes and Semi- Detached homes are trending in a Balanced Market.  Attached Row Houses is in a buyer’s Market and Apartment Condos are still very much in a buyer’s market.

Calgary Listing Inventory

In June, our inventory rose in all Detached homes and Apartment Condos and we saw decreases in Semi Detached and Attached Row Houses.  Overall increase was just 74 listings so not substantial.

 Calgary Sales:

Sales for June decreased in all categories except Attached Row which increased only marginally.

The largest decrease was in the Apartment condo sector which decreased by 16.83%.  Overall sales decreased by 7.34% for the month.

 Sales Compared to 2018: 

In May we were 11.4% above last May’s sales.  In June we are 6.1% down from last year so things seem to be settling out a bit.

 Calgary Real Estate Sales Prices:

June saw price increases in Detached and Semi Detached and we saw decreases in Attached Row houses and Apartment Condos.  Note the price increases in the detached sector is being driven by homes under $500,000.  Which are moving very quickly.

Months of Inventory/Absorption Rate – What does this mean you might ask? It’s 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.

 

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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

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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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