Posts Tagged ‘Calgary Real Estate Market Snapshot’

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Calgary Real Estate Market Snapshot for Feburary 2021

Monday, March 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 of Months of Inventory for the Calgary Real Estate market for all Housing Sectors.

2 year trend of Months of Inventory for the Calgary Real Estate market for all Housing Sectors.

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

With Detached homes setting the pace the Calgary Real Estate Market is seeing sales numbers we have not seen since 2014.  I have had a lot of people ask the question WHY?

Following are just my thoughts on the why:

  1. Low-Interest Rates According to Rate Hub a 5-year mortgage can be had at 1.64% – Crazy Low.
  2. According to data from ATB the Job losses Alberta has seen have been in the lower wage groups. Higher wage jobs are in positive territory compared to a year ago.
  3. There has recently been some positive news in the Oil & Gas Sector.
  4. With Vaccine’s coming there is a little more of a positive vibe out there.

Calgary Listing Inventory

We saw an increase in all Sectors in listing inventory.  This is very normal and as we approach spring the listing inventory will continue to rise.

Calgary Sales:

Calgary Sales were the highest they have been since 2014. The highest increases were in

Attached Rowhomes: 73.33% increase over last February.

Detached homes 53.63% increase over last February.

Apartment Condo:  46.24% Increase over last February

Sales Compared to 2020:

This is where it gets interesting.  As you can see sales in February 2021 beat sales in February 2020 by 54.4%

 

  Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2020 861 1190 1175 573 1080 1747 1835 80 1702 1764 1437 1199
2021 1208 1836                    
Change +347 +646                    
% change +7.49 +54.4                    

 

 Calgary Real Estate Benchmark Sales Prices:

Overall, the Benchmark Price for all sectors increased by $8,800.  Detached homes increased by $12,000 (the largest) and the smallest which was Apartment Condos which still increased by $2,899.

 Current Months of Inventory (Absorption Rate): 

The months of inventory decreased in all housing sectors.   From the smallest to largest decrease the change was:

Semi-Detached   -.38 Now in Seller Market Territory

Detached -.59   Now in Seller Market Territory

Attached Row: -1.6 Now in Balanced market territory.

Apartment:  – 1.81 Still in Buyer’s market territory

Sales compared to last February are up by 54.4% so even though inventory is rising the increase in sales is much higher than the increase in listings pushing us to lower months of inventory and into a seller’s market for some sectors.

 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.

Stats from the Calgary Real Estate Board's Monthly Stats package for February 2021

Stats from the Calgary Real Estate Board’s Monthly Stats package for February 2021

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Calgary Real Estate Market Snapshot for July 2020

Tuesday, August 4th, 2020

Amazingly the Calgary Real Estate Market has recovered from Covid.

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 – 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.

Calgary Real Estate Stats

 

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

Well, we seem to have returned to a more normal market.  July’s sales outpaced 2019 July Sales by 6.56% and that was after a slower start in July.

Calgary Listing Inventory

Inventory in all sectors except Semi-Attached increased this month. The largest increases were in the Detached and Apartment Sectors which each grew by 170 listing.  Listings in the Semi-Detached sector declined by 30 listings.

Calgary Sales:

July’s sales increased in all sectors except Attached Row homes where sales were 40 less.

Overall sales increased by 88 listings or 5.04%.  In my opinion this is very good as sales in the first few weeks were slower.

Sales Compared to 2019:

It is critical to note that in all my other numbers I look at month over month.  This shows us the numbers this year compared too last year.  As you can see July’s sales beat last year by 194 sales or 11.82%.  As a Realtor, it almost feels like July was the start of our Spring market even seeing lots of multiple offers. I will not predict how long this trend will last.

 

  Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2019 801 973 1327 1544 1915 1775 1642 1574 1365 1440 1146 858
2020 861 1195 1175 573 1080 1747 1835
Change +60 +222 -152 -971 -835 -28 +194
% change +7.49 +22.8 -11.4 -62.8 -45.5 -1.6 +11.82%

  

Calgary Real Estate Benchmark Sales Prices: Some increases are nice to see.

Detached homes increased by $11,000

Semi-Detached Increased by $5,700

Attached Row decreased by $3,700

Apartment Condos Increased by $2,500

Total Market increased by $6,700

 Calgary Real Estate Sales Prices Year to Date

For the year Semi-Detached have now seen an increase of $3300.

All other sectors are still in negative territory with Attached Row homes seeing the largest decrease at $12,200.

Current Months of Inventory (Absorption Rate): 

Detached, Semi-Detached are both sitting in a balanced market position while Attached-Row and Apartment condos are both sitting in a buyer’s market position.

 

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.

 

 

 

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Calgary Real Estate Market Snapshot for June 2020

Thursday, July 2nd, 2020

What is really happening in the Calgary Real Estate Market?  Everything you need to know at a glance.

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 Sector.  Looking at a 2-year trendline gives you and indication of where things are really heading.

2 year Market Trend

 

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.

A quick look at key numbers in the Calgary Real Estate Market.

 

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

Much to everyone’s surprise the Calgary Real Estate market has come back as quickly as it declined with Covid-19.

Calgary Listing Inventory

Our listing inventory increased in all sectors.  The good news is that inventory increase less than sales.  Keeping our inventory in check is important in keeping balance in the market.

Calgary Sales:

June’s sales increased by a whopping 61.76% over may sales.  Again, this increase was in all sectors.  All sectors increases were in the 60% range except Semi Detached where the increase was less at 47.24%

Sales Compared to 2019:

It is critical to note that in all my other numbers I look at month over month.  This shows us the numbers this year compared too last year.  In June, our sales ended at 1.6% less than last year.   It is important to note that total sales in the first week of June were only at 301.  By the last full week of June we 492 sales so if all weeks were as strong as the last week we would have blown out last years sales.  Another interesting note is 492 is the highest number of sales in a week since June 2017.

One last mote on sales:  CMHC ( the government’s mortgage insurance company) changed the qualifying rules and the change came into effect as of July 1, 2020 so some people may have jumped into the market before this change came in.

  Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2019 801 973 1327 1544 1915 1775 1642 1574 1365 1440 1146 858
2020 861 1195 1175 573 1080 1747
Change +60 +222 -152 -971 -835 -28
% change +7.49 +22.8 -11.4 -62.8 -45.5 -1.6

  

Calgary Real Estate Sales Prices:  In my opinion fairly good considering Covid.

Detached homes increased by $500.

Semi-Detached decreased by $1,800

Attached Row increased by $100

Apartment Condos Decreased by $1,700

Total Market decreased by $300

  

Calgary Real Estate Sales Prices Year to Date

Sorry to report that all sectors have declined in year to date pricing. The lowest decline is in Semi-Detached at .62%  The largest decrease was in Apartment Condos and they lost 3.18%

 Current Months of Inventory (Absorption Rate): 

At the end of June all sectors except apartment condo are less than 4.0 months of Inventory so all are in a balanced market. Apartment condos were a 6.79 which is a good improvement from 10.13 at the end of May.

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.

 

 

 

 

 

 

 

 

 

 

 

 

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Calgary Real Estate Market Snapshot June 1, 2020

Tuesday, June 2nd, 2020

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.

Shows the absorption rate for every sector in the Calgary Real Estate market for the last 2 years.

Absorption Rate Graph

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.

Key Stats from the Calgary Real Estate Board.

 

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

Its been another interesting month in the Calgary market during this Covid 19 time.

An optimist would say we gained 88.5% on sales (from last month)

A pessimist would say were down 45.5% (from last year)

Calgary Listing Inventory

Typically, May is the start of the spring market and that means increased listings.  In May we increased our listing inventory from 5576 to 5813, only an increase of 237 listings.  This small increase is good news and is helping us hold the value of homes.

Calgary Sales:

Wow, what a change Sales in May increased by 88.5% over April.  All categories increased over 80% except apartment condos and they increased by 44.2%.

Sales Compared to 2019:

It is critical to note that in all my other numbers I look at month over month.  This shows us the numbers this year compared too last year.   So, although the market saw a huge improvement in May we are still down 45.5% from last year in May, meaning we have a long way to go.

Calgary Real Estate Sales Prices:

As one would expect we did see price decreases in all sectors of between $1,800 (Condos) To $4,800 (detached homes) except for Semi-Detached homes which increased by $2000

Calgary Real Estate Sales Prices Year to Date

Every sector has seen a decrease in Year to Date Benchmark price – the smallest decrease being in the Semi-Detached sector with a loss of $600.  All other sectors saw decreases of between $5,800 to $8,600. The Total decrease across all sectors is -$6,900  or 1.65

Current Months of Inventory (Absorption Rate): 

In May, all sectors decreased the absorption rate drastically.  This is mainly driven by our inventory holding, Decreases were between -3.8 to -4.95

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.

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What’s happening in the Calgary Real Estate Market?

Monday, December 2nd, 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: December 1, 2019

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

Gord’s Commentary 

A few comments on this month. 

Overall the market softened a little in November.

 Current Months of Inventory (Absorption Rate): 

November saw a different picture for each Sector although they all saw increases:

Detached homes increased by .14

Semi-Detached increased by 1.37

Attached Row increased by .88

Apartment increased by 1.61

Total Market increased by .56

Calgary Listing Inventory

Calgary listing inventory decreased in all sectors this month for a total of 635 listings less than one month ago. The largest decrease came in the Detached Sector with a decrease of 463 listings. Typically, this is the trend we will see until the end of the year.

Calgary Sales:

Sales for November decreased 287 or 19.83% down from October sales.  Every sector decreased a little with the largest decrease being in the Detached sector of 142 less.  Sales decreasing in November is a very typical for the month.

Sales Compared to 2018: 

November Sales were 98.9% of last years sales so we are down by only 12 sales from November 2018.

 Calgary Real Estate Sales Prices:

Prices for Detached homes showed an increase in Benchmark price of $100.  Semi-Detached, Attached Row, and Apartments all saw decreased this month.

Semi-detached decreased by 7,100

Attached Row decreased by 6,700

Apartment Condos decreased by 3,600

 

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: June 1, 2019

Tuesday, June 4th, 2019

What is really happening in the Calgary Real Estate Market?

 

If you are new to our Monthly Snapshot please scroll to bottom for explanation.

________________________________________________________________________ 

 

                                                  Current Report: June 1, 2019

 

Current Months of Inventory: 

More good news for the Real Estate Market this month.  All housing sectors decreased in the months of inventory with the highest decrease being in the Apartment Condo sector and a close 2nd for Semi- Detached. Of Special note both Detached Homes and Semi-Detached homes moved into balanced market territory.

 

End of April 2019 May 2019 Change
Detached 3.97 3.32 -0.65
Semi Detached 4.63 3.91 -0.72
Attached – Row 5.29 4.98 -0.31
Apartment 6.16 5.25 -0.91
Total City 4.57 3.89 -0.68

 

 Calgary Listing Inventory

In May, our inventory rose in all categories which is very normal for this time of year.

 

Inventory (End of) April 2019 May 2019 Change
Detached 3691 3921 230
Semi Detached 773 793 20
Attached – Row 1053 1100 47
Apartment 1546 1653 107
Total City 7063 7467 404

 

 Calgary Sales:

Sales for May increased in all sectors compared to April.   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  April 2019 May 2019 Change % Change
Detached 930 1182 252 27.10%
Semi Detached 167 203 36 21.56%
Attached – Row 199 221 22 11.06%
Apartment 251 315 64 25.50%
Total City 1547 1921 374 24.18%

 

 

***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% 111.4

 

 Calgary Real Estate Sales Prices:

May saw price increases in all sectors except Apartment Condos.  Being that apartment condos have the highest months of inventory of all sectors, this is an expected result.

  Sales Prices Apr 2018     Benchmark Price  May 2019   Benchmark Price Change
Detached 478,700 487,900 9,200
Semi Detached 395,300 397,700 2,400
Attached – Row 284,900 286,500 1,600
Apartment 250,400 248,200 -2,200
Total City 415,900 424,600 8,700

 

 

Sales Prices “Year to Date”  

This is a positive month as the Detached sector moved into positive territory for the year, Semi-detached are almost break even while apartment Condos and Row Houses still have a ways to go.

Sales Prices Jan 2019    Benchmark Price  May 31, 2019    Benchmark Price Change

$

% Change
Detached 481,400 487,900 6,500 1.35%
Semi Detached 397,500 397,700 200 0.05%
Attached – Row 288,400 286,500 -1,900 -0.66%
Apartment 251,500 248,200 -3,300 -1.31%
Total City 418,500 424,600 6,100 1.46%

 

  

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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Calgary Real Estate Market -June 1, 2018

Saturday, June 2nd, 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

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

 

Current Absorption Rate

No major fluctuations here this month.  Detached homes went up a little while all other categories went down between .25 and .54

End of Apr 2018    May 2018    Change
Detached 4.01 4.26 0.25
Semi Detached 6.00 5.53 -0.47
Attached – Row 5.60 5.06 -0.54
Apartment 7.06 6.81 -0.25
Total City 4.82 4.90 0.07

 

 Calgary Listing Inventory

In April, our inventory increased in all Sectors. This is totally expected at this time of year and we should expect this trend to continue for another month anyways.

Inventory Apr 2018    May 2018    Change
Detached 3642 4504 862
Semi Detached 756 862 106
Attached – Row 1075 1163 88
Apartment 1851 1921 70
Total City 7324 8450 1126

 

Calgary Sales:

The good news is that sales are up from last month in all categories.  Looking at the bigger picture we are still substantially down from last year’s  sales.  May showed 18.4% less sales than May 2017.   This however is an improvement as April sales were down 20.3% from last April.

Calgary Sales  Apr 2018    May 2018    Change % Change
Detached 908 1058 150 16.52%
Semi Detached 126 156 30 23.81%
Attached – Row 192 230 38 19.79%
Apartment 262 282 20 7.63%
Total City 1518 1726 208 13.70%

  

Calgary Real Estate Sales Prices:

Prices in April showed very little change.  Attached-Row houses showed the largest gain of $3,200. while Semi-Detached homes showed the largest decrease of $1,000.

  Sales Prices Apr 2018   Benchmark Price   May 2018   Benchmark Price Change
Detached 504,500 504,500 0
Semi Detached 420,000 419,000 -1,000
Attached – Row 300,000 303,200 3,200
Apartment 256,700 256,200 -500
Total City 436,500 436,900 400

  

Sales Prices “Year to Date”  

Same as monthly number

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

$

% Change
Detached 499,600 504,500 4,900 0.98%
Semi Detached 416,600 419,000 2,400 0.58%
Attached – Row 299,500 303,200 3,700 1.24%
Apartment 257,700 256,200 -1,500 -0.58%
Total City 433,200 436,900 3,700 0.85%

 

 

**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 Jan 1, 2018

Tuesday, January 2nd, 2018

What is really happening in the Calgary Real Estate Market?

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

 

Current Absorption Rate

The Absorption rate for November increased in all categories for December.  The number of listings dropped but the number of sales dropped even more.  My concern is that a lot of inventory came off for the holiday season and we may see a ton of listings hit the market in January.  

Nov  2017  Dec  2017  Change
Detached 3.15 3.30 0.15
Semi Detached 4.40 4.64 0.24
Attached – Row 4.60 5.22 0.62
Apartment 6.69 6.99 0.31
Total City 4.01 4.28 0.26

 

Calgary Listing Inventory

In December 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 Nov  2017  Dec  2017  Change
Detached 2758 2033 -725
Semi Detached 555 441 -114
Attached – Row 861 658 -203
Apartment 1491 1182 -309
Total City 5665 4314 -1351

 

Calgary Sales:

Sales for December decreased in all categories.   Of interest our sales in all categories exceeded the sales for Dec 2016.

Total sales Dec 2016:  929

Total sales Dec 2017: 1006

Increase of 8.3%

 

Calgary Sales  Nov  2017  Dec  2017  Change % Change
Detached 875 616 -259 -29.60%
Semi Detached 126 95 -31 -24.60%
Attached – Row 187 126 -61 -32.62%
Apartment 223 169 -54 -24.22%
Total City 1411 1008 -403 -28.56%

 

Calgary Real Estate Sales Prices:

Prices in December dropped a little in all categories.   The highest decreases were in detached and attached-row houses.

  Sales Prices Nov  2017  Benchmark Price   Dec  2017  Benchmark Price Change
Detached 504,000 499,600 -4,400
Semi Detached 417,800 416,600 -1,200
Attached – Row 303,100 299,500 -3,600
Apartment 258,300 257,700 -600
Total City 436,700 433,200 -3,500

 

Sales Prices “Year to Date”  

Well, here is the summary for the year 2017.   Small gains in Detached and Semi-Detached homes and a small reduction in Attached Row with a larger decrease in Apartment Condos.  If you have been watching my report for the year the absorption rate for apartment condos has been very high all year.

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

$

% Change
Detached 498,900 499,600 700 0.14%
Semi Detached 406,200 416,600 10,400 2.56%
Attached – Row 303,100 299,500 -3,600 -1.19%
Apartment 266,500 257,700 -8,800 -3.30%
Total City 434,100 433,200 -900 -0.21%

  **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.

My Prediction for 2018

The big news is that as of yesterday the mortgage rules changed and people will be able to qualify for less mortgage due to the new “Stress Test”

When the government made the same change for 5% Down mortgages we saw little impact in the market so I am predicting little impact on the market due to this.  If anything we will see less sales activity in Detached homes and some buyers will move into attached homes or Townhomes.  Some who could previously qualify for a townhouse may now move into the Apartment Condo sector.  For Calgary if this prediction comes true it could be good as it may balance out the market categories.  Overall I believe that the Calgary Market will continue to pick up momentum through 2018.

Happy New Year, we hope you have an awesome 2018.

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Calgary Real Estate Market Snapshot – Oct 1, 2017

Monday, October 2nd, 2017

Calgary Absorption Rate

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 September increased in all categories except attached-row homes where it dropped marginally.   The one to note is apartment condos which increased by 1.29 putting us at 8.42 months of inventory.  

  Aug  2017  Sept  2017  Change
Detached 3.32 3.79 0.46
Semi Detached 3.27 4.31 1.04
Attached – Row 5.27 5.25 -0.02
Apartment 7.13 8.42 1.29
Total City 4.13 4.69 0.56

 Calgary Listing Inventory

In September all categories stayed flat except for detached homes which saw an increase of 199 listings.

Inventory Aug  2017  Sept  2017  Change
Detached 3280 3479 199
Semi Detached 585 621 36
Attached – Row 991 993 2
Apartment 1769 1768 -1
Total City 6624 6861 237

 

Calgary Sales:

Sales for September saw a decrease in all categories except attached-row homes which increased by 1.  A decrease at this time of year is fairly normal and I would classify this as simply seasonal.

Of interest Calgary year to date sales are 7% above last year’s sales.

Calgary Sales  Aug  2017  Sept  2017  Change % Change
Detached 987 919 -68 -6.89%
Semi Detached 179 144 -35 -19.55%
Attached – Row 188 189 1 0.53%
Apartment 248 210 -38 -15.32%
Total City 1602 1462 -140 -8.74%

  

Calgary Real Estate Sales Prices:

Okay, I will eat my words here.  Last month I predicted that prices would remain fairly even except for attached – row houses and apartment condos which I said should drop.  As you can see below I was wrong however with the absorption rates I again will predict all categories will remain fairly flat with the exception of apartment condos where a decrease is likely.

  Sales Prices Aug   2017Benchmark Price   Sept  2017  Benchmark Price Change
Detached 510,900 508,900 -2,000
Semi Detached 419,600 419,400 -200
Attached – Row 307,000 306,900 -100
Apartment 263,300 263,700 400
Total City 442,300 441,500 -800

  

Sales Prices “Year to Date”  

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

$

% Change
Detached 498,700 508,900 10,200 2.05%
Semi Detached 406,800 419,400 12,600 3.10%
Attached – Row 302,600 306,900 4,300 1.42%
Apartment 265,000 263,700 -1,300 -0.49%
Total City 433,400 441,500 8,100 1.87%

 **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.

 

TSW Real Estate Group

 

 

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