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February Calgary Real Estate Market Snapshot

Tuesday, March 1st, 2016

Find out what is really happening in the 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 and ahead of most!

Below are the details along with a few comments, all numbers were taken from the Calgary Real Estate Boards Stats package for Realtors.

Calgary Listing Inventory

In February our total inventory of listings in Calgary increased in all 3 categories.  This is very typical for this time of year as many sellers wait until after the holiday season to list their homes.  This seasonal trend should continue for the next few months.

Inventory Jan 2016 Feb 2016 Change
Detached 2546 2943 397
Attached 1223 1336 113
Apartment 1253 1402 149
Total City of Calgary 5022 5681 659

 

Calgary Sales:

Sales in all categories Increased in February.   This again is seasonal and it’s important to note that this Feb we are 6.63% under sales for Feb 2015.

Sales Jan 2016 Feb 2016 Change % of Change
Detached 465 691 226 48.60%
Attached 170 268 98 57.65%
Apartment 129 168 39 30.23%
Total City of Calgary 764 1127 363 47.51%

  

Calgary Real Estate Sales Prices:  

Prices for all detached and attached homes showed decreases in February.  Apartment Condos showed a slight increase in price.  This may be because apartment condos have been showing price decreases for several months.

 

  Sales Prices Jan   2015

Benchmark Price 

Feb  2016

Benchmark Price

 Change
Detached 509300 504400 -4900
Attached 345600 338900 -6700
Apartment 281900 283600 1700
Total City of Calgary 447300 445000 -2300

 

Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  Feb  2016

Benchmark Price

 Change

$

% Change
Detached 508700 504400 -4300 -0.85%
Attached 351400 338900 -12500 -3.56%
Apartment 285500 283,600 -1,900 -0.67%
Total City of Calgary 448800 445000 -3800 -0.85%

 

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 2.8 to 4.0 Prices typically remain stable
Seller’s Market <2.8 Drives prices up

 

*** Absorption Rate***   

In my opinion this is the most critical number to look at.  Of interest the trend reversed this month.  The last several months our Absorption rate has been increasing and this is the first time in several months that it decreased.  Does this mean the market has changed – I would not be so quick and would suggest that one month does not make a trend so let’s watch.

Absorption Rate   Jan   2015 Feb  2016 Change
Detached 5.48 4.26 -1.22
Attached 7.19 4.99 -2.21
Apartment 9.71 8.35 -1.37
Total City of Calgary 6.57 5.04 -1.53

  

Price Sensitivity

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

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

If you know anyone else who might enjoy seeing our monthly summary please share.

TSW Real Estate Group

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Calgary Real Estate Market Snapshot, March 1, 2015

Tuesday, March 3rd, 2015

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening in the Calgary Real Estate Market. The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate. A simple way to keep up to date and ahead of most!

Below are the details along with a few comments, all numbers were taken from the Calgary Real Estate Boards Stats package for Realtors.

Want to see stats specific to your Community? Register for our Market Report at http://www.calgaryareasolds.com/

Find out what your Neighbor’s home sold for – Register for our Market Report at http://www.calgaryareasolds.com/

 

Calgary Real Estate Stats have changed.

The Calgary Real Estate Board just changed the operating system for Realtors and with that the monthly Stats categories have changed as well. Here is the categories.

Old Categories New Categories What’s changed
Single Family Home Detached Does not include attached homes
Condo Townhouse Attached Now includes Attached Homes
Condo Apartment Apartment Condos Same

 

What this means is simply that attached homes are now taken out of the Single family category and lumped in with the townhouse category. There are a few other classification changes but they are very small and won’t show in the stats. This will affect a few of the numbers below.

 

Oil Prices and the impact on the Calgary Real Estate Market.

I am certainly not going to predict the future here as I am not an expert in the Oil Industry. What I find interesting is that in what I have been reading there seems to be two sides

  • Optimists are predicting that we will be back to at least the 60 – 70 dollar oil by mid year
  • The pessimists are saying that we will be low forever or years anyway

 

My Stats summary below will show you the facts of what has happened to date and some short term predictions. Please note that the market shifted very fast and when oil prices rebound the market can shift very quickly in the other direction. The big question is when? And if you have the answer to that please share it with me.

 

Now onto the Stats Market Snapshot

 

Calgary Listing Inventory: Yes, listings are up again in all categories this month. In Feb we usually see an increase from January and will typically see listing numbers increase in the next 3 to 4 months.

 

Inventory Jan 2015 Feb 2015 Change
Detached 2359 2830 +471
Attached 950 1190 +240
Apartment 1117 1276 +159
Total City of Calgary 4426 5296 +870

 

Calgary Sales:

While we are down considerably from last year’s sales the sales increased substantially over January. What I noticed is that first 2 weeks of Feb were similar to January the last 2 weeks picked up.

Sales Jan 2015 Feb 2015 Change % Change
Detached 535 739 +204 +38.1%
Attached 190 261 +71 +37.3%
Apartment 155 217 +62 +40.0%
Total City of Calgary 880 1217 +337 +39.3%

 

 

Calgary Real Estate Sales Prices:

Prices in all categories decreased this month. The largest decrease is in Apartment condos which have the highest inventory compared to sales. This trend will continue as long as the absorption rates stay where they are.

Sales Prices Jan 2014 Benchmark Price Feb 2015 Benchmark Price Change
Detached 518,600 516,000 -2,600
Attached 356,000 354,600 -1,800
Apartment 298,700 296,000 -2,700
Total City of Calgary 459,100 456,300 -2,800

 

Sales Prices “Year to Date”

Year to date prices – Again, all categories decreased but none substantially.

Sales Prices Dec 31, 2014 Benchmark Price Feb 2015 Benchmark Price Change

$

% Change
Detached 518,600 516,000 -$2,600 -.5%
Attached 356,200 354,600 -$2,200 -.61%
Apartment 300,400 296,000 -$4,400 -1.45%
Total City of Calgary 459,500 456,300 -$3,200 -.7%

 

  

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 2.8 to 4.0 Prices typically remain stable
Seller’s Market <2.8 Drives prices up

 

*** Absorption Rate:

The absorption rate decreased for all categories. What this means is that the relation to sales over inventory decreased. This change put detached homes back into a balanced market while all other categories stayed in a Buyers Market.

Absorption Rate Jan 2015 Feb 2015   Change
Detached 4.41 3.83 -.58
Attached 5.0 4.56 -.44%
Apartment 7.21 5.88 -1.33%
Total City of Calgary 5.03 4.35 -.68%

 

**Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just 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.

 

 

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Calgary Real Estate Market Snapshot Sept 2014

Friday, October 3rd, 2014

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market.  This shows what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   A simple way to keep up to date and ahead of most!  The Calgary housing market is deeply  entrenched is a Sellers Market however is slowly changing and is moving toward a balanced market.

Below are the details along with a few comments, all numbers were taken  from the Calgary Real Estate Boards Stats package for Realtors.

Want to see stats specific to your Community?  Register for our Market Report at http://www.calgaryareasolds.com/

 

Calgary Listing Inventory: Inventory levels for Single Family homes decreased while everything else increased this month. Typically this time of year we show increases in inventory. Single family home inventory went down which is not normal. I believe the reason is that we still have a large backlog of buyers waiting for the perfect home to come on the market, especially in the starter home price range.

 

Inventory Aug 2014 Sept 2014     Change
Single Family Home 3021 2961 -60
Condo Townhouse 437 552 +115
Condo Apartment 1056 1081 +25
Total 4514 4594 +80

 

Calgary Sales:

Sales in September decreased marginally in all categories. Sales numbers decreasing is very normal at this time of year.  It is critical to note that even though the sales are decreasing we are still substantially above our sales for 2013.

Sales Aug 2014 Sept 2014     Change % Change
Single Family Home 1477 1398 -79 -5.3
Condo Townhouse 338 318 -20 -5.9
Condo Apartment 452 432 -20 -4.4
Total 2267 2148 -119 -5.2

 

Calgary Real Estate Sales Prices:

In September, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase moderately for a few more months as we move from a seller’s market to a more balanced market. If you have been following my reports you will notice the increases are continuing to get smaller every month.

Sales Prices Aug 2014 Benchmark Price Sept   2014   Benchmark Price Change
Single Family Homes 512,300 512,800 +500
Condo Townhouse 328,300 330,200 +1900
Condo Apartment 298,200 298,800 +600

 

Sales Prices “Year to Date”

Year to date prices – Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices Dec 31 2013 Benchmark Price Sept 2014 Benchmark Price Change$ % Change
Single Family Homes 472,200 512,800 +40,600 +8.6
Condo Townhouse 307,100 330,200 +23,100 +7.5
Condo Apartment 278,600 298,800 +20,200 +7.3

 

 

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
Balanced Market Between 2.8 to 4.0
Seller’s Market <2.8

 

Absorption Rate:

This month the absorption rate increased in all categories. For Single Family homes the ratio went up even though our inventory decreased – this is because sales decreased more. Condo Townhouses took the largest jump of .45, I believe this is just catching up as last month it went opposite of everything else.

Absorption Rate Aug 2014 Sept 2014   Change
Single Family Homes 2.05 2.11 +.06
Condo Townhouse 1.29 1.74 +.45
Condo Apartment 2.33 2.50 +.17
Total Calgary 1.99 2.14 +.15

 

**Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just 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.

 

If you know anyone else who might enjoy seeing our monthly summary please feel free to share

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August 2014, Calgary Real estate Market Snapshot

Monday, September 1st, 2014

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market.  This shows what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   A simple way to keep up to date and ahead of most!  The Calgary housing market is deeply  entrenched is a Sellers Market however is showing slow signs of moving toward a balanced market.

Below are the details along with a few comments, all numbers were taken  from the Calgary Real Estate Boards Stats package for Realtors.

Want to see stats specific to your Community?  Register for our Market Report at http://www.calgaryareasolds.com/

 

Calgary Listing Inventory: Inventory levels decreased for marginally in all categories. While this is typical for this time of year the challenge is we are starting with a low inventory so a decrease can push us back towards a stronger Seller’s market. I believe the reason is that we still have a large backlog of buyers waiting for the perfect home to come on the market, especially in the starter home price range.

Inventory July 2014 Aug 2014 Change
Single Family Home 3056 3021 -35
Condo Townhouse 536 437 -99
Condo Apartment 1070 1056 -14
Total 4662 4514 -148

 

Calgary Sales:

Sales in August decreased marginally in all categories except apartment condos. Sales numbers decreasing is very normal at this time as people are focused on summer vacations.  Apartment condos increased and I believe that’s simply that last month they decreased more than the other categories.

Sales July 2014 Aug 2014 Change % Change
Single Family Home 1553 1477 -76  
Condo Townhouse 339 338 -1  
Condo Apartment 444 452 +8  
Total 2336 2267 -69  

 

 

Calgary Real Estate Sales Prices:

In August, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase for a few more months as we move from a seller’s market to a more balanced market. If you have been following my reports monthly the increase is smaller than what we have been seeing.

Sales Prices July 2014

Benchmark Price

Aug 2014

Benchmark Price

Change
Single Family Homes 511,600 512,300 +700
Condo Townhouse 327,000 328,300 +1,300
Condo Apartment 298,100 298,200 +100

 

Sales Prices “Year to Date”

Year to date prices – same as above, Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices Dec 31 2013 Benchmark Price Aug 2014Benchmark Price Change

$

% Change
Single Family Homes 472,200 512,300 40,100 +8.5
Condo Townhouse 307,100 328,300 21,200 +6.9
Condo Apartment 278,600 298,200 19,600 +7.0

 

 

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
Balanced Market Between 2.8 to 4.0
Seller’s Market <2.8

 

Absorption Rate:

This month the absorption rate increased for single family homes while it decreased for Townhouses and Apartment Condos. This I find interesting as we have been moving from a strong seller’s market towards a buyer’s market (although slowly). My only explanation here is that there is still a backlog of buyers especially in the starter home price ranges putting more pressure on Condos and Townhouses.

 

Absorption Rate July 2014 Aug 2014   Change
Single Family Homes 1.97 2.05 +.08
Condo Townhouse 1.58 1.29 -.29
Condo Apartment 2.40 2.33 -.07
Total Calgary 1.99 1.99 –

**Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just 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.

 

If you know anyone else who might enjoy seeing our monthly summary please feel free to share.

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June 2014, Calgary Real Estate Market Snapshot

Tuesday, July 1st, 2014

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market.  This shows what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   A simple way to keep up to date and ahead of most!  The Calgary housing market is deeply  entrenched is a Sellers Market with very little supply and strong demand.  In June we started seeing a slight shift towards a buyers market but we have a long way to go.

Below are the details along with a few comments, all numbers were taken  from the Calgary Real Estate Boards Stats package for Realtors.

Want to see stats specific to your Community?  Register for our Market Report at http://www.calgaryareasolds.com/

 

 

Calgary Listing Inventory: Inventory levels increased this month in all categories except townhouses. Increasing inventory levels is very normal at this time of year as many sellers wait until spring to sell. I am actually surprised that the levels did not increase more than they did.

Inventory May 2014   June 2014 Change
Single Family Home 2947 3128 +181
Condo Townhouse 576 523 -53
Condo Apartment 1051 1071 +20
Total 4574 4722 +148

 

Calgary Sales:

Sales in June decreased in all categories except for Townhouses which increased slightly. Sales numbers decreasing is very normal at this time as people start to go on summer vacations. The increase in sales in Townhouse is most likely that there is still a pent up demand and people were just waiting for the right one to come on the market.

Sales May 2014   June 2014     Change % Change
Single Family Home 2027 1769 -258 -14.5%
Condo Townhouse 410 427 +17 +3.9
Condo Apartment 511 474 -37 -7.8%
Total 2948 2670 -278 -10.4%

 

 

Calgary Real Estate Sales Prices:

In June, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase for a few more months as we move from a seller’s market to a more balanced market.

Sales Prices May 2014   Benchmark Price June 2014     Benchmark Price Change
Single Family Homes 504,300 509,700 +5,400
Condo Townhouse 321,400 326,000 +4,600
Condo Apartment 295,400 299,700 +4,300

 

Sales Prices “Year to Date”

Year to date prices – same as above, Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices Dec 31 2013 Benchmark Price June 2014   Benchmark Price Change$ % Change
Single Family Homes 472,200 509,700 +37,500 +7.94
Condo Townhouse 307,100 326,000 +18,900 +6.15
Condo Apartment 278,600 299,700 +21,100 +7.58

 

 

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
Balanced Market Between 2.8 to 4.0
Seller’s Market <2.8

 

Absorption Rate: For the third month in a row our absorption rate has increased. This indicates that the market is changing and we are moving towards a balanced market. Please note that we are so deep in a Seller’s market that it will take us a few more months of this trend to reach a balanced market state. My prediction is that this trend will continue and by September or October we will be approaching a balanced market – maybe sooner for apartment condos.

Absorption Rate May 2014   June 2014   Change
Single Family Homes 1.45 1.77 +.32
Condo Townhouse 1.40 1.22 -.18
Condo Apartment 2.06 2.26 +.20
Total Calgary 1.55 1.77 +.22

**Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just 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.

 

If you know anyone else who might enjoy seeing our monthly summary please feel free to pass this on. Gord, Eric & Brent

 

 

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June 2014 Real Estate Market Snapshot

Monday, June 2nd, 2014

Want to know what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   A simple way to keep up to date on the Market.  The Calgary Real Estate market continues to show signs of a change in direction bringing good news for home buyers.

Below are the details along with a few comments, all numbers were taken  from the Calgary Real Estate Boards Stats package for Realtors.

 

Want to see stats specific to your Community?  Register for our Market Report at http://www.calgaryareasolds.com/

 

Calgary Listing Inventory: Inventory levels increased this month in all categories. This is what normally happens at this time of year as many people like to wait till spring to list their home. This year Sellers are also seeing a good opportunity to sell so I predict that listings are going to continue to increase. One interesting thing to note is that many sellers coming to the market are hoping to cash in on the seller’s market and are listing their homes substantially higher than the market will pay. Home’s that are listed at or slightly above market values are still often getting competing offers and are selling in the first day or two while sellers fishing for above market value are just adding to our inventory of listing.

Inventory April 2014   May 2014   Change
Single Family Home 2445 2947 +502
Condo Townhouse 445 576 +131
Condo Apartment 898 1051 +153
Total 3788 4574 +786

 

Calgary Sales:

Sales in May increased in every category over last month which is to be expected at this time of year.  One reason for this increase is that with more inventory buyers have more selection. Trends show that next month we should see a flattening or a slight decline in sales over this month.

Sales April 2014   May 2014   Change % Change
Single Family Home 1736 2027 +291 +17%
Condo Townhouse 360 410 +50 +14%
Condo Apartment 449 511 +62 +14%
Total 2545 2948 +403 +15.8%

 

 

Calgary Real Estate Sales Prices:

In May, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase for a few more months as we move from a seller’s market to a more balanced market.

Sales Prices April 2014   Benchmark Price May 2014   Benchmark Price Change
Single Family Homes 496,700 504,300 +7,600
Condo Townhouse 316,700 321,400 +4,700
Condo Apartment 291,700 295,400 +3,700

 

Sales Prices “Year to Date”

Year to date prices – same as above, Prices have increased in all categories. Good news if you are a homeowner and not so good news for those wanting to get into the market.

Sales Prices Dec 31 2013 Benchmark Price May 2014   Benchmark Price Change$ % Change
Single Family Homes 472,200 504,300 +32,100 6.8%
Condo Townhouse 307,100 321,400 +14,300 4.7%
Condo Apartment 278,600 295,400 +16,800 6.0%

 

 

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
Balanced Market Between 2.8 to 4.0
Seller’s Market <2.8

 

Absorption Rate: For the second month in a row our absorption rate has increased. This indicates to me that the market is starting to change and we are moving towards a balanced market. Please note that we are so deep in a Seller’s market that it will take us a few more months of this trend to reach a balanced market state. My prediction is that this trend will continue and by July or August we will be approaching a balanced market – sooner for apartment condos.

Absorption Rate April 2014   May 2014   Change
Single Family Homes 1.41 1.45 +.04
Condo Townhouse 1.24 1.40 +.16
Condo Apartment 2.0 2.06 +.06
Total Calgary 1.48 1.55 +.07

**Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just 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.

 

 

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Calgary Real Estate Market snapshop updated Feb 3, 2014

Monday, February 3rd, 2014

Want to know what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   A simple way to keep up to date on the Market.  The Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales and I do not see that changing anytime soon.

Below are the details along with a few comments, all numbers were taken  from the Calgary Real Estate Boards Stats package for Realtors.

Below is a summary of some key areas with a few short comments.  The Calgary housing market started off the year on a strong note with sales 11.1% higher than in January 2013.  We are still in a very strong seller’s market position.

Calgary Listing Inventory:  Inventory levels increased slightly this month which is very normal for this time of year as the holidays are behind us.  There is still a shortage of homes on the market and the good ones are selling very fast.

Inventory 

December   2013  

January   2014   

Change
Single Family Home

1515

1671

+156
Condo  Townhouse

242

277

+35
Condo  Apartment

479

577

+98
Total

2236

2525

+289

 

Calgary Sales: 

Sales in January increased in every category over last month which is to be expected at this time of year.  It is also important to note that sales in January were 17% higher than sales in January  2013.  I believe that as we get more listings on the market sales will continue to rise as there is a pent up demand.

Sales

December   2013 

January   2014   

Change  

%   Change

Single Family Home

744

974

+230

+31.0%
Condo  Townhouse

179

206

+27

+15.0%
Condo Apartment

221

260

+29

+18.0%
Total

1144

1,440

 +296

+26%

  

Calgary Real Estate Sales Prices:  

In January, the benchmark price increased for all categories except.  As long as our ratio of sales to listings remains the same this upward trend will continue.

Sales Prices

December 2013

Benchmark Price

January 2014

 Benchmark   Price  

Change  

Single Family Homes

472,200

476,700

+$4,500
Condo Townhouse

307,100

308,100

+$1,000
Condo  Apartment

278,600

280,600

+$2,000

  

Sales Prices “Year to Date”   

Year to date prices – same as above have increased in all categories.  Good news if you are a homeowner and not so good news for those wanting to get into the market.

Sales Prices Dec  31 2013  Benchmark Price 

January 2014 Benchmark Price 

Change

$  

%   Change

Single Family Homes

472,200

476,700

+$4,500

+1%
Condo Townhouse

307,100

308,100

+$1,000

–
Condo  Apartment

278,600

280,600

+$2,000

+1%

  

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

Balanced Market

Between 2.8 to 4.0

Seller’s Market

<2.8

 

Absorption Rate:   The numbers are still going down which is putting us in more of a seller’s market position and I don’t see that changing anytime soon.  In the starter home price range we are still seeing lots of competing offers.

Absorption Rate  

December 2013   

January 2014  

Change  

Single Family Homes

2.03

1.71

-.32
Condo Townhouse

1.35

1.34

-.1
Condo  Apartment

2.17

2.21

+.04
Total Calgary

1.96

1.75

-.21

**Please note that these numbers do change on a community basis and more so for towns.  If you would like to find stats on your community just 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.

 

Please feel free to pass this on. Gord, Eric & Brent

 

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Calgary Real Estate Market Snapshot updated Jan 2014

Wednesday, January 1st, 2014

Want to know what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   A simple way to keep up to date on the Market.  The Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales and I do not see that changing anytime soon.

Below are the details along with a few comments, all numbers were taken  from the Calgary Real Estate Boards Stats package for Realtors.

Calgary Listing Inventory:  Inventory levels for all categories dropped substantially this last month.  This is simply a seasonal adjustment that happens every year. In the next few days listings will start to hit the market bringing these numbers right back up.

Inventory 

November  2013    

December   2013   

Change
Single Family Home

2171

1515

-656
Condo  Townhouse

380

242

-138
Condo  Apartment

605

479

-126
Total

3156

2236

-920

 

Calgary Sales: 

Sales in December declined in all categories and again this is very normal for the month of December. Considering the weather I think we faired well.  It is also important to note that sales in December were 8.3% higher than in December 2012.  I am very confident that January’s numbers will be much higher.

Sales

November   2013 

December   2013  

Change  

%   Change

Single Family Home

1006

744

-262

-26.0
Condo  Townhouse

228

179

-49

-21.5
Condo Apartment

305

221

-84

-27.5
Total

1539

1144

 -395

-25.6

 

 Calgary Real Estate Sales Prices:  

In December, the benchmark price increased for all categories except apartment Condos which saw a small decrease.  As long as our ratio of sales to listings remains the same this upward trend will continue.

 

Sales Prices

November 2013

Benchmark Price

December 2013

 Benchmark   Price  

Change  

Single Family Homes

470,600

472,200

+$1,600
Condo Townhouse

305,700

307,100

+$1,400
Condo  Apartment

279,600

278,600

-$1,000

 

Sales Prices “Year to Date”   

Year to date prices have increased in all categories.  Good news if you are a homeowner and not so good news for those wanting to get into the market.

Sales Prices Dec  31 2012  Benchmark Price 

Dec 31. 2013

Benchmark Price   

Change

$  

%   Change

Single Family Homes

434,800

472,200

+37,400

+8.6%
Condo Townhouse

284,100

307,100

+23,000

+8.1%
Condo  Apartment

248,700

278,600

+29,900

+12.0%

 

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

Balanced Market

Between 2.8 to 4.0

Seller’s Market

<2.8

 

Absorption Rate:   This doesn’t tell us much this month as December is a funny month where lots of people take their home off the market for the holidays and then relist in Jan.   We are still in a strong seller’s market position and I don’t see that changing anytime soon.  In the starter home price range we are still seeing lots of competing offers.

Absorption Rate  

November 2013   

December 2013  

Change  

Single Family Homes

2.15

2.03

-.12
Condo Townhouse

1.67

1.35

-.32
Condo  Apartment

1.98

2.17

+.19
Total Calgary

2.05

1.96

-.09

**Please note that these numbers do change on a community basis and more so for towns.  If you would like to find stats on your community just 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.

 

If you know anyone else who might enjoy seeing our monthly summary please feel free to pass this on. Gord, Eric, Brent & Jason

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Sept 2013 Calgary Real Estate Market Snapshot

Monday, September 2nd, 2013

Want to know what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   In summary the Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales.

Below are the details along with a few comments, all numbers were taken  from the Calgary Real Estate Boards Stats package for Realtors.

Calgary Listing Inventory:  Inventory levels for all categories except townhouses decreased again throughout August.

Inventory 

July  2013    

August  2013   

Change
Single Family Home

2917

2791

-126
Condo    Townhouse

407

417

10
Condo    Apartment

768

690

-78
Total

4092

3898

-194

Calgary Sales: 

Sales decreased marginally in all categories this month.  This is very normal as many people are focused on summer vacations, back to school etc.  The other reason for this is that listings are so low that good homes are challenging to find.

Sales

July  2013 

August  2013  

Change

% Change

Single   Family Home

1575

1517

-59

-3.6%
Condo  Townhouse

295

282

-13

-.44%
Condo   Apartment

398

397

-1

–
Total

2268

2196

           -72

-3.2%

 

Calgary Real Estate Sales Prices:  

In August, the benchmark price increased slightly for all categories.  This is simply a reflection of demand outpacing supply Mens andre nettsider hovedsakelig fokuserer pa norske spilleautomater pa nett, onsker vi ogsa a servere deg informasjon om de ekte maskinene. and this trend will continue until the inventory starts to increase faster than sales.

Sales Prices

July 2013

Benchmark Price

August  2013

 Benchmark Price  

Change

Single   Family Homes

461,600

464,700

3,100
Condo   Townhouse

294,500

298,500

4,000
Condo  Apartment

267,600

270,600

3,000

 

Sales Prices  “Year to Date”   

Year to date prices have increased in all categories.

Sales Prices Dec  31 2012    Benchmark Price 

August 2013

Benchmark Price 

Change

% Change

Single   Family Homes

434,800

464,700

29,900

6.9%
Condo   Townhouse

284,100

298,500

14,400

5.1%
Condo  Apartment

248,700

270,600

21,900

8.8%

 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

Balanced Market

Between 2.8 to 4.0

Seller’s Market

<2.8

Absorption Rate:  Throughout August our absorption rate decreased in all categories except townhouses. With inventory shrinking faster than sales are slowing it is now pushing us into a stronger “Sellers market position”.

Absorption Rate  

July 2013 

August 2013  

Change

Single   Family Homes

1.85

1.84

-.01
Condo   Townhouse

1.37

1.47

.1
Condo  Apartment

1.93

1.74

-.19
Total   Calgary

1.80

1.78

-.02

**Please note that these numbers do change on a community basis and more so for towns.  If you would like to find stats on your community just 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.

In Other News:

Rumor on the street is that CMHC has hit their annual $ limit for mortgage insurance so getting this product might be a little more difficult.

Interest Rates are on the rise – if you are even considering making a move talk  to your bank or mortgage broker  and get a mortgage commitment locked in at today’s rates.

Sign up for your personalized Market Report for your Community : http://www.calgaryareasolds.com/

Gord Piper

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June 2013, Calgary Real Estate Market Snapshot

Tuesday, July 2nd, 2013

Want to know what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   In summary the Calgary housing market is still very strong.  Sales are strong and our inventory is on the low side making it a strong  Seller’s market.

Below are the details along with a few comments, all numbers were taken  from the Calgary Real Estate Boards Stats package for Realtors.

Calgary Listing Inventory:  Inventory levels for all categories decreased throughout June which is a little bit of a twist.  If you have been following my reports the Inventory levels have been increasing a little every week until last week when they went down by 240 listings.  This is most likely due to the flooding disaster in Calgary where some listings were taken off the market.  I believe that the trend of increasing inventory will start back next week.

Inventory 

May   2013    

June  2013   

Change
Single Family Home

3311

3199

-112
Condo    Townhouse

503

489

-14
Condo    Apartment

929

896

-33
Total

4743

4584

-159/-3.4%

Calgary Sales: 

Sales decreased in all categories this month.   Following the trends of the last few years we are getting into summer vacations when people take holidays and therefore the sales numbers drop a little.

What is important to note here is that our sales decreased a higher percentage than our inventory decreased moving us a little closer to a buyer’s market (although we have a long way to go) to get there.   Interestingly enough sales each week in June we about the same with no drop at all during the flood and early stages of clean up.  

Sales

May  2013 

June  2013  

Change

% Change

Single   Family Home

1766

1638

-128

-7.2%
Condo  Townhouse

365

317

-48

-13.1%
Condo   Apartment

413

362

-51

-12.3%
Total

2544

2317

 -227

-8.9%

  

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

In June, the benchmark price increased slightly for all categories. This is simply a reflection demand outpacing supply and should continue until the inventory starts to increase faster than sales.     

Sales Prices

May  2013

Benchmark Price

June  2013

 Benchmark Price  

Change

Single   Family Homes

456,900

459,700

+2800
Condo   Townhouse

292,100

295,000

+2900
Condo  Apartment

263,600

264,000

+400

 

Sales Prices  “Year to Date”   

Year to date prices have increased in all categories.

Sales Prices Dec  31 2012    Benchmark Price 

June  2013

Benchmark Price 

Change

% Change

Single   Family Homes

434,800

459,700

+24,900

+5.7%
Condo   Townhouse

284,100

295,000

+10,900

+3.8%
Condo  Apartment

248,700

264,000

+15,300

+6.2%

 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

Balanced Market

Between 2.8 to 4.0

Seller’s Market

<2.8

 

Absorption Rate:  Throughout June there was little change in the absorption rate although the direction is moving towards a more balanced market.

Absorption Rate  

May  2013 

June 2013  

Change

Single   Family Homes

1.87

1.95

+.08
Condo   Townhouse

1.37

1.54

+.17
Condo  Apartment

2.25

2.48

+.23
Total   Calgary

1.86

1.98

+.12

**Please note that these numbers do change on a community basis and more so for towns.  If you would like to find stats on your community just 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.  

Gord, Eric, Brent & Jason

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