Posts Tagged ‘Calgary Real Estate Board’

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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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April 2012 Real Estate Market Snapshot

Monday, April 30th, 2012

Gord Piper and Associate’s are happy to announce that Calgary home sales continue to show strength as our inventory of listings remains flat.   Below you will find a short summary of key numbers in the Calgary Real Estate market.  Stats are all taken from the Calgary Real Estate Boards Monthly Stats Package produced for Calgary Realtors.

Calgary Listing Inventory:  Inventory levels for Single Family homes increased marginally while Inventory for Condo’s (Townhouse and Apartment) remained flat.   To put this in perspective the inventory at this time last year was 6324 listings or almost 1000 more.   

Inventory  March   2012  April   2012  Change
Single Family Home 3367 3501 + 134
Condo  Townhouse    606 612 + 6
Condo  Apartment   1119 1157 +38
Total 5092 5270 + 178

 Calgary Sales: 

Sales this month were almost the same as last month.  Looking at year over year this is apox a 26% increase in sales over the same month last year.

Sales March  2012 April   2012 Change % Change
Single Family Home 1576 1582 + 6 +.03%
Condo  Townhouse    235 267 +32 +13.6%
Condo Apartment 356 351 –          5 -.09%
Total 2167 2200 +33 +1.52%

 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 substantially 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 March  2012 Benchmark Price    April   2012 Benchmark Price   Change
Single Family Homes 433,500 449500 +16,000
Condo Townhouse    293,600 294,500 +900
Condo  Apartment    247,800 248,300 + 500

Overall the market is now in a seller’s market position while Apartment condos, small towns and country residential are still in a balanced market.  It is interesting as there are still many communities that are in a buyer’s market as they have a higher inventory.  If you want to know how your community sit’s let me know.  

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

Gord, Eric & Brent

For a free market evaluation click here

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Calgary Real Estate March 2012 snapshot

Tuesday, April 3rd, 2012

Another exciting month in the Calgary Real Estate Market.  With our Inventory increasing only slightly and the sales increasing substantially it is driving prices upwards.  We have noticed that especially in some Northwest Communities it is becoming harder to find quality homes for our clients.   Below you will snapshot of whats happening in the Calgary Real Estate Market.

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 but what is important to look at is the increase compared to our sales. This increase now seems small and what we are seeing on the street is that it is getting hard to find good homes in certain areas now.

Inventory Feb  2012
 March   2012 Change
Single
Family Home 		3093 3367 274
Condo  Apartment
 1031 1119 88
Condo
Townhouse 		612 606 -6
Total
 4736 5092 +356

Calgary Sales:

The chart below speaks for itself with sales in all categories increasing.         

Sales February  2012 February  2012 Change % Change
Single Family Home 1284 1576 +292 +22.7
Condo Apartment 248 356 +108 +43.5
Condo Townhouse 205 235 +30 +2.2
Total 1737 2167 +430 +24.7%

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

Again the chart below speaks for itself.  With inventory increasing only slightly and sales increasing substantially it only makes sense that we see prices start to rise.  Simply Supply and demand at work.

Sales Prices Feb 2012
Benchmark Price 		March  2012 Benchmark Price Change
Single Family Homes 427,000 433,500 +6500
Condo Apartment 242,900 247,800 +4900
Condo Townhouse 288,600 293,600 +5000

Overall the market is now in a seller’s market position.   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 is positioned 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.

Gord, Eric & Brent

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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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January 2012 Calgary Housing Statistics

Wednesday, February 1st, 2012

What’s happening in the Calgary Real Estate Market? 

Ever heard that Real Estate is prices are a reflection of Supply and Demand?

Below is a summary made simple – what is happening in Real Estate in Calgary.

Information is taken from the Calgary Real Estate Boards monthly statistics package.

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   December  2011 Jan 2012  Change
Single Family Home 2761 2980 +219
Condo’s 1287 1450 +163
Total 4048 4430 +382

Calgary Sales: 

Calgary Single Family home sales are up over December while Condo sales stayed flat.   Both Single Family home and Condo sales are almost the same as they were in January 2011.         

Sales December 2011 January 2012 Change
Single Family Home 722 773 +51
Condo’s 310 305 -5
Total 1032 1078 +46

 Calgary Real Estate Sales Prices:  In January Single family home median prices remained almost flat while Condo prices decreased by $12,875.  The median prices are not showing any certain direction but are bouncing up and down every month. 

Sales Prices December  Median Prices Jan 2012  Median Prices Change
Single Family Homes $393,750 395,000 +1250
Condo’s $257,875 245,000 -12,875

 Important note – As of Feb 2012 the Calgary Real Estate Board is changing the way it reports statistics.  The Canadian Real Estate Association in partnership with local Real Estate Boards has developed the MLS HPI (Home Price Index).  The Home Price Index identifies  turning points sooner, is the most current and is the most detailed and accurate gauge for Canadian home prices. 

With this change we will need to re-evaluate what information I can post for  monthly.  My goal is simply to make sure you are getting current up to date information that tells the real story about the Calgary Housing Market.

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

Gord, Eric & Brent

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December 2011, Monthly Housing Stats Report

Monday, January 2nd, 2012

What”s happening in the Calgary Real Estate market?

  The stats below are taken from information supplied to realtors through the Calgary Real Estate Board.  As Real Estate is all about supply and demand that is what this article will focus on :

  • Our Inventory
  • Our Sales
  • and of course Prices

  As we are at a year-end I am providing both monthly and then yearly results.

Calgary Listing Inventory:  Inventory levels for both Single Family homes and Condo’s decreased substantially this month.   This movement is normal for this time of year as many people do not want their home on the market during the holiday season.  Expect that starting January our listing inventory will start to creep upwards.

Inventory   November 2011  December  2011 Change
Single Family Home 3761 2761 Decrease of 1000
Condo’s 1676 1287 Decrease of 389
Total 5437 4048 Decrease of 1389

 Calgary Listing Inventory year to date.  Very Similar numbers compared to last year.  

Inventory  Dec 2010  December  2011 Change
2712 2761 49
Condo’s 1429 1287 -142
Total 4141 4048 -97

Calgary Sales: 

Calgary Single Family home sales and Condo sales for the month of December declined slightly from November.  Again the holiday season can account for this trend.         

Sales November 2011 December 2011 Change
Single Family Home 962 722 -240
Condo’s 391 310 -81
Total 1353 1032 -321

Calgary Sales Year to Date

Sales for both single family homes and condos showed an increase over 2010, a very positive sign moving forward.

Sales Total  2010  Total  2011 Change % Change
Single Family Home 12,091 13,186 1095 9.06%
Condo’s 5,176 5,382 206 3.98%
Total 17267 18,568 1301 7.53%

Calgary Real Estate Sales Prices:  In 2011 Single family home prices decreased by $9,175 while the median price of condo’s increased by $5,875.  The median prices are not showing any certain direction but are bouncing up and down every month.  Let’s look at the year to date numbers download free action game for girls below to really see what’s happening.

Sales Prices November Median Prices December  Median Prices Change
Single Family Homes $402,925 $393,750 -$9,175
Condo’s $252,000 $257,875 $5,875

 *** Calgary Real Estate Sales Prices Year to Date

As you can see from the chart below the Median Sales price of both single family homes and condos remained almost constant this year.  We had a bit of a roller coaster with prices bouncing up and down but they are not showing a single direction.

   End of 2010 End of 2011 Change % Change
Single Family Homes  $389,000 $393,750 $4,750 1.2%
Condo’s  $260,000 $257,875 -$2.125 -.82%

 

Forecast for 2012

On the 18th of January the Calgary Real Estate Board put’s on their annual forecast breakfast where they bring in experts and share the forecasts for 2012.  As soon as the forecasts are available I will summarize for you.  

If you have any questions about this summary, or would like a full copy of the December Stats package please contact us. 

Gord, Eric & Brent

Check out our new Market Snapshot – a monthly look at active and sold listings in your community.

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June 2011, Calgary Real Estate Stats at a glance

Sunday, July 3rd, 2011

Want to know  instantly whats happening in the real estate market in Calgary.  Below you will find a summary of some key areas with a few short comments.  All stats are taken directly from the Calgary Real Estate Boards monthly stats package for June 2011.  These highlights are all you need to stay informed.  Provided to you courtesy of Gord Piper and Associates.

Calgary Listing Inventory:  As shown below our inventory in Calgary Metro increased marginally this month.   

Inventory May  2011 June 2011 Change
Single Family Home 4616 4744 128
Condo’s 2092 2023 (69)
Total 6708 6767 59

 Calgary Sales: 

Calgary sales for the month of June showed increases in both single family and condos. Of interest, this is the first month all year where condo sales beat the number of condo sales in the same month of last year.  Single family homes have done this for a few months After years of research and testing the new system is designed to provide learner drivers with all the training, resources and qualified bronx driving schools instructors required to become a licensed driver. now.    

Sales May 2011 June 2011 Change
Single Family Home 1313 1398 85
Condo’s 503 581 78
Total 1816 1979 163

 

Calgary Real Estate Sales Prices:    Prices for Single Family homes and for condos decreased very slightly this month.  It’s interesting that for the last 3 months prices of single family homes have been almost flat at 420,000, 423,000 and 417,250.   Condos have stayed between $260,000 and $270,000 for the last 3 months.   This makes sense as our inventory is holding steady and sales are strong.  

Sales Prices May  Median Prices June Median Prices Change
Single Family Homes $423,000 $417,250 ($5750)
Condo’s $269,250 $265,000 ($4,350)

 Overall we are still in a slight buyers market. 

If you have any questions about this summary, or would like to receive the entire stats package or have other Real Estate questions feel free to contact us.  

Gord Piper and Brent Wilcox 

CIR Realty

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May 2011, Calgary Real Estate Stats

Friday, June 3rd, 2011
Calgary Real Estate Board Stats for the month of May have been published and here is our summary  of some key areas with a few short comments. 

Calgary Listing Inventory:  As shown below our inventory in Calgary Metro increased by 308 listings this month.   This is very typical to see listings rise as spring arrives.  

Inventory  April  2011 May 2011 Change
Single Family Home 4395 4616 +221
Condo’s 2005 2092 +87
Total 6400 6708 +308
 Calgary Sales: 

Overall Calgary sales for the month of May increased slightly from April.  Single family home sales increased while condo sales decreased ever so slightly.  Interesting enough sales of Inner city homes increased by almost 4%    

Sales April 2011 May 2011 Change
Single Family Home 1217 1313 +96
Condo’s 535 503 -32
Total 1752 1816 +64
 Calgary Real Estate Sales Prices:    Prices for Single Family homes increased by $3,000 this month while condos increased by $8,500.  This makes sense as our inventory is holding steady and sales are remaining steady.  

Sales Prices April Median Prices May Median Prices Change
Single Family Homes $ 420,000 $423,000 +$3,000
Condo’s $260,000 $268,500 +$8,500
  

Absorption Rate:  When looking at Real estate stats it is imperative to look at the absorption rate.

Absorption rate is simply the total inventory divided by the number of sales in the last month.  An absorption rate of between 2.3 to 4.0 months reflects a balanced market while a higher rate reflects a buyer’s market and therefore a lower rate reflects a seller’s market.  From the chart below you can see that we are still in a slight buyers market.

 May Absorption Rate Chart

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

Gord Piper  & Brent Wilcox                                                                                                                                                     

CIR Realty

403-861-2256

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April 2011, Calgary Real Estate Board Statistics

Monday, May 2nd, 2011

As a Calgary Realtor we receive a monthly statistics package from the Calgary Real Estate Board and it is my pleasure to share with you some of the highlights.  As supply and demand is the basis for what happens in the market, we will simply look at inventory, sales and of course prices.  Hope you enjoy and if you would like a copy of the entire stats package or information regarding your community simply contact us.

Calgary Listing Inventory:  As shown below our inventory in Calgary Metro increased by 483 listings this month.   This is very typical to see listings rise as spring arrives.  

Inventory  March  2011 April 2011 Change
Single Family Home 4024 4395 371
Condo’s 1913 2005 92
Total 5937 6400 463

 Calgary Sales: 

Calgary sales for the month of April declined slightly from March for both single family homes and condos.   It is unknown at this point how much the changing mortgage rules have affected sales and we won’t really know for till the end of June when people’s pre-approvals from before the mortgage changes run out. My feeling is not very much which means sales could continue  very strong in the upcoming months.   

Sales March 2011 April 2011 Change
Single Family Home 1355 1217 -138
Condo’s 581 535 -46
Total 1936 1752 -184

 

Calgary Real Estate Sales Prices :    Prices for  Single Family homes increased by $20,000 this month while condos increased by $4,000.  This makes sense as our inventory is holding steady and sales are strong.  

Sales Prices March Median Price April Median Prices Change
Single Family Homes $400,000 $ 420,000 20,000
Condo’s $256,000 $260,000 4,000

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

Gord Piper & Brent Wilcox

CIR Realty

403-861-2256

www.gordpiper.com

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Calgary Real Estate Board 2011 Market Forecast

Monday, January 24th, 2011

The Calgary Real Estate Board has released their market forecast for 2011.  Below I have highlighted some key areas you may find of interest.

MLS RE-SALE HOMES

MLS RE-SALE HOMES 2009 2010 2011 Forecast Change Forecaster
Single Family Sales 14,400 12,095 14,500 19.9% CREB
Single Family Listings 22,459 25,709 25,000 -1.6% CREB
Single Family Average Price $442,327 $461,144 $480,000 4.1% CREB
Condo Sales 6,328 5,181 6,000 15.8% CREB
Condo Listings 10,323 11,423 10,000 -12.5% CREB
Condo Average Price $283,734 $289,697 $295,900 1.8% CREB
Town sales 3,943 3,525 4,000 13.5% CREB
Town Listings 8502 8828 9,000 2.0% CREB
Town Average Price $352,704 $359,327 $368,500 2.6% CREB

 

New Homes

New Homes 2009 2010 2011 Forecast Change Forecaster
Starts – Single Family 4,200 5,600 6,000 7% CREB
Starts – Multi Family  1,350 3,600 4,000 11% CREB

ECONOMIC INDICATORS

Economic Indicators 2009 2010 2011 Forecast Change Forecaster
GDP -2.8% 2.7% 4.15 1.4% Govt of Alberta
Calgary Net Migration 12,920 -4,154 10,000 340% CREB
1 Year Mortgage Rate 4.05% 3.83% 3.5% -.33% CMHC
5 Year Mortgage Rate 5.5% 5.75% 5.75% 0 CMHC
Oil Price (USD) $60/BBl $79.BBL $90/BBL 13.9% Govt of Alberta
Gas Price (USD) $3.75/NMBTU $4.00/NMBTU $6.00/NMBTU 50% Govt of Alberta
Calgary Employment Growth -1.4% 1.3% 2.0% .7% City of Calgary

 

The entire package with detailed explainations is availiable at CREB FORECAST. COM

If you have specific questions about this report or about the Market today please contact me directly.

Brought to you by Gord Piper and Associates.

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