Posts Tagged ‘Calgary Real Estate Market’

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

Tuesday, February 4th, 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.

Calgary Real Estate Board  Summary of Key Stats

 

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 for the Calgary Real Estate Market

 

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

 

Current Months of Inventory (Absorption Rate): 

Through January our Absorption rate increased for all housing sectors. The smallest increase was in the detached sector at +.25 and the largest was in the Attached Row Sector at +1.34

This means the listing increase is outpacing the sales increase  and it is putting us in a stronger buyers market for all sectors.

Calgary Listing Inventory

Inventory increased in every sector in January.  Most sectors increased somewhat equally except the Apartment condo sector that increased by 16.1% compared to the total increase of 11.6%

Increasing inventory is normal as many people wait till the holidays are over to list.  This is a trend that we expect to see for the next several months.

 Calgary Sales:

Sales in Detached homes and Apartment Condos increased marginally over December which is a normal trend.  Sales in the Semi-Detached and Attached Row homes declined ever so slightly. We also had about 10 Days of bitter weather which keeps buyers indoors.

Sales Compared to 2018:

Sales in all sectors increased over 2018 for a total increase of 8% over 2019.

 Calgary Real Estate Sales Prices:

Prices in all sectors declined a little this month.  The lowest decrease was in the Detached home sector and the largest decline was in the Apartment Condo Sector

Calgary Real Estate Benchmark Prices Year to Date – Same as for the month.

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

 

 

 

 

 

 

 

 

 

 

 

 

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

Friday, January 3rd, 2020

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

First here 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.

 

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.

 

Gord’s comments – Just my opinion

A few comments on this month. 

Merry Christmas and Happy new year.  Yes, you will see major change this month, but this is 100% normal as everyone is focused on the holidays and not on Real Estate.  Here are my comments.

 

Current Months of Inventory (Absorption Rate): 

The larger changes were semi-detached decreasing by .72 and Apartment Condos which increased by .96   Every other sector was less than .25 of a change so fairly stable.

 

Calgary Listing Inventory

Every sector declined giving us 1327 less listings today than a month ago.  As above this is a seasonal trend and starting January, we will start to see these numbers rise again.

 

Calgary Sales:

Sales for December declined in all sectors, and again this is to be expected.  Sales declines were the highest in the Detached home and Apartment Condo sectors and were much lower in the Semi-Detached sector.

 

Sales Compared to 2018: 

Although sales from Nov to Dec dropped, the sales for Dec 2019 were 8% higher than sales in Dec 2018.  This in my opinion is important as we are starting to show more stability in the Market.

 

Calgary Real Estate Sales Prices:

Prices in the Attached – Row and Apartment condo sectors increased marginally (by 1,300 & 900 respectively).

Prices in Detached and Semi-Detached decreased marginally (1,400 & 2,200 respectively)

 

Calgary Real Estate Benchmark Prices Year to Date

As might be expected, all sectors saw a decrease in prices in 2019.

Detached homes:  Declined by $1.900 or .27%

Semi-Detached:  Decreased by $6,200 or 2.34%

Attached Row: Decreased by $1,400 or 1.87%

Apartment: Decreased by $2,300 or 1.07%

Overall Calgary Market:  Decreased by $2,600 or .6%

 

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

 

 

 

 

 

 

 

 

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What is really happening in the Calgary Real Estate Market?

Wednesday, October 2nd, 2019

Graph shows the 2 year trend of months of inventory for every Sector of the Calgary Real Estate Market.

Current Report: October 1, 2019

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

Gord’s commentary – Just my opinion 

Current Months of Inventory (Absorption Rate): 

A substantial change this month. Every sector increased by about.5 except Semi Detached increased even more at 1.44. One month does not make a trend but this is the opposite direction that we have been going in so let’s keep watching.

Calgary Listing Inventory

Through September our total listing inventory decreased by 169 listings.  Of this 118 were in the detached sector and the rest remained flat. This is to be expected as after the summer listings always slow down.

Calgary Sales:

Sales for September were 210 less than in August.  Of this 118 were in the detached sector again.  This again is a normal trend as sales always go down in September and you will see this trend until the new year.

Sales Compared to 2018: 

September Sales compared to last year were 8.2% higher.

Last month we were 6.0% higher so this is a very good trend and hope it continues.

 Calgary Real Estate Sales Prices:

September saw an overall decrease in Benchmark price of $1100.  The sector that got hit the worst was the Attached row house which lost $3,800.  The only sector that showed an increase was the detached home sector and this was driven by homes under $500,000.

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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Calgary Real Estate Market Snapshot – April 1, 2019

Tuesday, April 2nd, 2019

What is really happening in the Calgary Real Estate Market?

2 year trend of months of inventory for the Calgary Real estate Market.

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

 Current Report : April 1, 2019

Current Months of Inventory: 

Good news for the Calgary Real Estate Market.  Two months in a row we have a trend of the months of inventory decreasing. March saw all sectors decrease with the largest decrease in Semi-Detached and Attached-Row houses.  Noteworthy is that Detached homes are nearing a balanced market again.

End of Jan 2019 Feb 2019 Change
Detached 5.04 4.15 -0.89
Semi Detached 6.63 5.32 -1.31
Attached – Row 6.98 5.44 -1.54
Apartment 8.73 7.87 -0.86
Total City 6.03 4.96 -1.07

Calgary Listing Inventory

In March, our inventory increased in all categories.  This increase is totally expected as we starting to enter the spring market.  As long as the increase is balanced with an increase in sales the market will continue to get healthier.

Inventory (End of) Jan 2019 Feb 2019 Change
 Detached 2987 3393 406
Semi Detached 689 787 98
Attached – Row 908 947 39
Apartment 1301 1488 187
Total Calgary 5885 6595 710

 

Calgary Sales:

Sales for March increased in all sectors compared to February.   Sales increasing is again an expected change as we move into the spring market. In my opinion the % increase is quite substantial with an overall increase over February of 36.2%.

Calgary Sales  Jan 2019 Feb 2019 Change % Change
Detached 593 818 225 37.94%
Semi Detached 104 148 44 42.31%
Attached – Row 130 174 44 33.85%
Apartment 149 189 40 26.85%
Total City 976 1329 353 36.17%

 

***Sales Compared to last year***

In March our sales were 97.1% of last years sales so a decrease of 2.9%.  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.  Of interest we are also starting to see competing offers again.

  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%                  

 

Calgary Real Estate Sales Prices:

March saw a small decrease in prices in Semi-Detached and Apartments while Detached and Attached Row houses showed slight increases in prices.

  Sales Prices Jan 2018     Benchmark Price  Feb 2019   Benchmark Price Change
Detached 475,600 475,800 200
Semi Detached 392,500 391,000 -1,500
Attached – Row 284,600 284,900 300
Apartment 252,300 250,600 -1,700
Total City 414,400 413,900 -500

 

 Sales Prices “Year to Date”  

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

$

% Change
Detached 481,400 475,800 -5,600 -1.16%
Semi Detached 397,500 391,000 -6,500 -1.64%
Attached – Row 288,400 284,900 -3,500 -1.21%
Apartment 251,500 250,600 -900 -0.36%
Total City 418,500 413,900 -4,600 -1.10%

 

 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 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.

Courtesy of TSW Real Estate Group

Gord Piper & Brent Wilcox

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Calgary Real Estate Market Snapshot for Dec 1, 2018

Tuesday, December 4th, 2018

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 November there were some ups and some downs with the most significant being the Apartment Condo sector that went from 7.12 months to 5.49 months, which is a significant drop and is now the lowest Apartment Condos have been in well over a year.  One month does not make a trend and I speculate that this is largely do to listings expiring and people are leaving them off till the new year. All categories are still in a “Buyers Market” position.

End of Oct 2018    Nov 2018    Change
Detached 4.80 5.14 0.35
Semi Detached 6.53 6.94 0.40
Attached – Row 6.59 6.56 -0.04
Apartment 7.12 5.49 -1.63
Total City 5.56 5.55 -0.01

  

Calgary Listing Inventory

In November, 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 as consumers move their focus to Christmas.

 

Inventory Oct 2018    Nov 2018    Change
 Detached 3976 3491 -485
Semi Detached 823 749 -74
Attached – Row 1009 944 -65
Apartment 1509 1317 -192
Total Calgary 7345 6501 -844

 

Calgary Sales:

In November we saw a slight increase in Sales in the Apartment Condo Sector over last month while other sectors saw a decrease in sales. Sales decreasing at this time of year is normal with Christmas approaching.

Calgary Sales  Oct 2018    Nov 2018    Change % Change
Detached 829 679 -150 -18.09%
Semi Detached 126 108 -18 -14.29%
Attached – Row 153 144 -9 -5.88%
Apartment 212 240 28 13.21%
Total City 1322 1171 -151 -11.42%

 

***Sales Compared to last year:

As you can see from the chart below comparing sales to last year 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

 

Calgary Real Estate Sales Prices:

November 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 Oct 2018     Benchmark Price   Nov 2018   Benchmark Price Change
Detached 490,200 486,000 -4,200
Semi Detached 403,400 400,700 -2,700
Attached – Row 293,400 292,900 -500
Apartment 257,200 252,800 -4,400
Total City 426,300 422,600 -3,700

  

Sales Prices “Year to Date”  

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

$

% Change
Detached 499,600 486,000 -13,600 -2.72%
Semi Detached 416,600 400,700 -15,900 -3.82%
Attached – Row 299,500 292,900 -6,600 -2.20%
Apartment 257,700 252,800 -4,900 -1.90%
Total City 433,200 422,600 -10,600 -2.45%

  

**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 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 TSW Real Estate Group here.

 

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Calgary Real Estate Market Snapshot for Nov 1, 2018

Thursday, November 1st, 2018

What is really happening in the Calgary Real Estate Market?

Months of Inventory for last 2 years.

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 October we saw every category decrease in the number of months of inventory, however all categories are still in a Buyers Market position.

End of Sept 2018    Oct 2018    Change
Detached 5.49 4.80 -0.69
Semi Detached 7.09 6.53 -0.56
Attached – Row 7.58 6.59 -0.99
Apartment 7.68 7.12 -0.56
Total City 6.25 5.56 -0.69

  

Calgary Listing Inventory

In October, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector followed by the Apartment Condo sector and then Attached-Row.  This is normal at this time of year and we should expect this trend to continue for the rest of the year.

 

Inventory Sept 2018    Oct 2018    Change
 Detached 4348 3976 -372
Semi Detached 872 823 -49
Attached – Row 1107 1009 -98
Apartment 1620 1509 -111
Total Calgary 7947 7345 -602

 

Calgary Sales:

An interesting twist, normally we see sales drop in October over Sept,  yet this year we saw an increase.  Not a large increase but an increase.

Calgary Sales  Sept 2018    Oct 2018    Change % Change
Detached 792 829 37 4.67%
Semi Detached 123 126 3 2.44%
Attached – Row 146 153 7 4.79%
Apartment 211 212 1 0.47%
Total City 1272 1322 50 3.93%

 

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% 85.9% 90.1%    

 

Calgary Real Estate Sales Prices:

October saw prices decrease in all sectors except Apartment Condos which did not change. 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 Sept 2018     Benchmark Price   Oct 2018   Benchmark Price Change
Detached 493,100 490,200 -2,900
Semi Detached 407,400 403,400 -4,000
Attached – Row 294,200 293,400 -800
Apartment 257,200 257,200 0
Total City 428,700 426,300 -2,400

  

Sales Prices “Year to Date”  

Same as monthly number

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

$

% Change
Detached 499,600 490,200 -9,400 -1.88%
Semi Detached 416,600 403,400 -13,200 -3.17%
Attached – Row 299,500 293,400 -6,100 -2.04%
Apartment 257,700 257,200 -500 -0.19%
Total City 433,200 426,300 -6,900 -1.59%

 

**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 – Aug 1, 2018

Thursday, August 2nd, 2018

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

 

Watch the Trend

On the above graph it is important to see the trends – As you can see the apartment condo absorption rate is has been trending down however in July it reversed and when back 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 July the months of inventory increased in every Category.  If you have been following my monthly snapshot you will notice that most months when this changes it changes only a little where this month the numbers have increased substantially. This change puts us deep into a Buyer’s market in every category.

 

End of June 2018    July 2018    Change
Detached 3.98 4.72 0.74
Semi Detached 5.04 6.07 1.04
Attached – Row 5.73 6.78 1.05
Apartment 6.41 7.01 0.60
Total City 4.65 5.46 0.81

  

Calgary Listing Inventory

In July, our inventory decreased increased in all sectors and overall. This is totally normal at this time of year and we should expect this trend to continue for the rest of the year.

 

Inventory June 2018    July 2018    Change
 Detached 4817 4578 -239
Semi Detached 922 911 -11
Attached – Row 1209 1187 -22
Apartment 1872 1774 -98
Total Calgary 8820 8450 -370

Calgary Sales:

Sales were down in all categories and again this is normal for July as this is moving out of our busy season when people are focused on vacations and outdoor activities.

Sales Compared to last year: Of interest if we compare to last year Sales in June we were 11.3% down from last year while July we were down only 4.8% from last year – a big improvement.

 

Calgary Sales  June 2018    July 2018    Change % Change
Detached 1210 969 -241 -19.92%
Semi Detached 183 150 -33 -18.03%
Attached – Row 211 175 -36 -17.06%
Apartment 292 253 -39 -13.36%
Total City 1896 1547 -349 -18.41%

  

Calgary Real Estate Sales Prices:

As we are now in a buyer market we should expect prices to decline slightly which is what happened except in the Apartment Condo sector where prices increased slightly.

 

  Sales Prices June 2018   Benchmark Price   July 2018   Benchmark Price Change
Detached 503,100 501,300 -1,800
Semi Detached 418,000 416,200 -1,800
Attached – Row 302,300 300,300 -2,000
Apartment 259,100 259,700 600
Total City 436,500 435,200 -1,300

  

Sales Prices “Year to Date”  

Same as monthly number

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

$

% Change
Detached 499,600 501,300 1,700 0.34%
Semi Detached 416,600 416,200 -400 -0.10%
Attached – Row 299,500 300,300 800 0.27%
Apartment 257,700 259,700 2,000 0.78%
Total City 433,200 435,200 2,000 0.46%

  

**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 March 1, 2018

Thursday, March 1st, 2018

What is really happening in the Calgary Real Estate Market?

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

Current Absorption Rate

The Absorption rate for Detached homes and apartment condos decreased from January while Semi-detached and Row homes increased.  Most of the changes are small except there was a large decrease for apartment condos, this decrease is simply offsetting last months spike.

End of Jan 2018    Feb 2018    Change
Detached 3.77 3.74 -0.03
Semi Detached 4.51 5.05 0.54
Attached – Row 5.34 5.86 0.52
Apartment 8.77 7.24 -1.53
Total City 4.84 4.76 -0.08

 

Calgary Listing Inventory

In February, our inventory increased in all Sectors. This is totally expected at this time of year.  This trend is anticipated for the next few months.

Inventory Jan 2018    Feb 2018    Change
Detached 2199 2456 257
Semi Detached 451 540 89
Attached – Row 699 779 80
Apartment 1289 1427 138
Total City 4638 5202 564

 

Calgary Sales:  Sales numbers all increased for February.  What you cannot see here is that sales decreased 18% from February of last year.  I believe this decrease is due in part to the weather we have had, but more because of the new mortgage rules.   I believe it will take another couple of months for the sales to come back to a more normal level.

Calgary Sales  Jan 2018    Feb 2018    Change % Change
Detached 583 657 74 12.69%
Semi Detached 100 107 7 7.00%
Attached – Row 131 133 2 1.53%
Apartment 147 197 50 34.01%
Total City 959 1094 135 14.08%

Calgary Real Estate Sales Prices:

Prices in February showed an increase in Detached and Semi-Detached sectors, a tiny increase in Apartment condos and a decrease in Attached-Row homes.

  Sales Prices Jan 2017 Benchmark Price   Feb 2018   Benchmark Price Change
Detached 499,400 502,800 3,400
Semi Detached 415,800 418,800 3,000
Attached – Row 296,700 295,400 -1,300
Apartment 256,200 256,400 200
Total City 432,300 434,300 2,000

  

Sales Prices “Year to Date”  

Same as monthly number

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

$

% Change
Detached 499,600 502,800 -200 -0.04%
Semi Detached 416,600 418,800 -800 -0.19%
Attached – Row 299,500 295,400 -2,800 -0.93%
Apartment 257,700 256,400 -1,500 -0.58%
Total City 433,200 432,300 -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 about Real Estate in general, please feel free to contact us.

 

 

 

 

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June 1, 2017 Calgary Real Estate Market Snapshot

Monday, June 5th, 2017

What’s Happening in the Calgary Real Estate Market? 

 

Absorption Rate Calgary

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 June 1, 2017

As you can see below the absorption rates for the different categories did not change substantially in May.

  • Seller’s Market – Detached and Semi-Detached Homes – No change
  • Balanced Market – Row or Townhouses
  • Buyer’s Market – Apartment Condo’s

 

  April 2017 May  2017 Change
Detached 2.09 2.13 0.04
Semi Detached 2.25 2.78 0.54
Attached – Row 3.92 3.49 -0.43
Apartment 5.74 6.29 0.55
Total City 2.87 2.92 0.05

 

Calgary Listing Inventory

June  saw an increase in inventory levels in all categories. This is a very normal trend for May and we can expect more increases as we get into the summer months.

Inventory April 2017 May  2017 Change
Detached 2522 2941 419
Semi Detached 463 518 55
Attached – Row 863 949 86
Apartment 1647 1780 133
Total City 5495 6188 693

 

Calgary Sales:

Both Single family and Attached Row houses saw a large increase in sales this month.  Semi-Detached saw a sizable decrease and apartment condos saw a small decrease.

Calgary Sales   April 2017 May  2017 Change % Change
Detached 1204 1378 174 14.45%
Semi Detached 206 186 -20 -9.71%
Attached – Row 220 272 52 23.64%
Apartment 287 283 -4 -1.39%
Total City 1917 2119 202 10.54%

  

Calgary Real Estate Sales Prices: 

Wow, this is the first time in a few years that I can say that all categories saw price increases during the month of May.   While this trend seems nice (for homeowners) I cannot see that this can continue.  Detached homes should continue to increase but Apartment condos should not (and should be going down) with the high absorption rate.

  Sales Prices April 2017 Benchmark Price          May  2017 Benchmark Price Change
Detached 504,100 509,000 4,900
Semi Detached 390,200 393,100 2,900
Attached – Row 305,900 308,300 2,400
Apartment 269,200 271,200 2,000
Total City 439,600 443,800 4,200

  

Sales Prices “Year to Date”   

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

$

% Change
Detached 498,300 509,000 10,700 2.15%
Semi Detached 385,400 393,100 7,700 2.00%
Attached – Row 307,900 308,300 400 0.13%
Apartment 269,200 271,200 2,000 0.74%
Total City 435,400 443,800 8,400 1.93%

 Clarification

**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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December 2016 Calgary Real Estate Market Snapshot

Friday, December 2nd, 2016

Did the new mortgage rules affect the Calgary Real Estate Market?  The answer is a resounding YES! Here is why.

Dec 2016 Absoption Rate Graph

December  2016 Absoption Rate Graph

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 categories increased this month.   When the Mortgage rules changed in Oct we saw these numbers decrease as people jumped into the market before it was too late.  The November decrease in sales results in a higher absorption rate.

 

  October 2016 November  2016 Change
Detached 2.49 2.99 0.50
Semi Detached 2.96 4.01 1.05
Attached – Row 4.21 5.42 1.21
Apartment 6.14 7.33 1.19
Total City 3.30 4.05 0.75

 

Calgary Listing Inventory

November saw a decrease in inventory levels in all categories.   This is very normal for the month of November as people start to focus on Christmas and not Real Estate.

Inventory October 2016 November  2016 Change
Detached 2565 2322 -243
Semi Detached 486 453 -33
Attached – Row 834 770 -64
Apartment 1542 1430 -112
Total City 5427 4975 -452

 

Calgary Sales:

Sales in all categories decreased substantially this month.  To put things in perspective let’s compare with last year.

2017 Sales from Oct to Nov decreased by 25.3%

2016 Sales from Oct to Nov decreased by 11.3%

This shows a 14% drop over our normal drop in November sales.  Knowing that we has a small surge of sales in October tells me going forward the decrease from last year to this simply due to new mortgage rules should end up at about a 10% increase.

 

Calgary Sales   October 2016 November  2016 Change % Change
Detached 1031 777 -254 -24.64%
Semi Detached 164 113 -51 -31.10%
Attached – Row 198 142 -56 -28.28%
Apartment 251 195 -56 -22.31%
Total City 1644 1227 -417 -25.36%

  

Calgary Real Estate Sales Prices: 

All categories showed a decrease in prices this month with the exception of Attached row houses which increased slightly.   Last month we saw a larger decrease in Attached Row houses so I believe it’s just balancing out.  Moving forward how much prices are affected will depend on how much our inventory increases.  Typically we will see a decline in inventory & sales in December and then they will start to increase in January.

 

  Sales Prices October 2016 Benchmark Price   Nov 2016 Benchmark Price Change
Detached 502,200 498,300 -3,900
Semi Detached 386,500 384,800 -1,700
Attached – Row 308,100 309,400 1,300
Apartment 273,800 271,300 -2,500
Total City 438,900 436,200 -2,700

 

 Sales Prices “Year to Date”   

Year to date prices

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

$

% Change
Detached 514100 498,300 -15,800 -3.07%
Semi Detached 393100 384,800 -8,300 -2.11%
Attached – Row 318500 309,400 -9,100 -2.86%
Apartment 288,000 271,300 -16,700 -5.80%
Total City 452800 436,200 -16,600 -3.67%

 

 Price Sensitivity

**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 or Real Estate questions please  contact us.

 

 

 

 

 

 

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