calgary real estate prices « The Gord Piper & Associates Real Estate Blog

Posts Tagged ‘calgary real estate prices’

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

Tags:Calgary, Calgary Home Prices, calgary market, calgary real estate, calgary real estate prices, Calgary Real Estate Stats, Northwest Calgary Real Estate Prices
Posted in Blog, Real Estate Board's Statistics | Comments Closed

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	–

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

Tags:buying a home, Calgary, calgary real estate prices, Calgary Real Estate Stats, Sell my home
Posted in Blog, Real Estate Board's Statistics | Comments Closed

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

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

Tags:Calgary, Calgary Condos, calgary real estate, calgary real estate prices, Calgary Real Estate Stats, realestatecalgary
Posted in Blog, Real Estate Board's Statistics | Comments Closed

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

Tags:Calgary Home Prices, Calgary Housing Market Forecast, calgary real estate prices, housing statistics calgary, sell my home calgary
Posted in Blog, Real Estate Board's Statistics | Comments Closed

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

Tags:calgary real estate prices, Calgary Real Estate Stats, housing statistics calgary, Northwest Calgary Real Estate Prices
Posted in Blog, Real Estate Board's Statistics | Comments Closed

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

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

Tags:Calgary Condos, Calgary Home Prices, calgary real estate, calgary real estate prices, Condominium, Northwest Calgary Real Estate Prices
Posted in Blog, Real Estate Board's Statistics | Comments Closed

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

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.

Gord Piper

Tags:Business/Finance, Calgary, calgary real estate, calgary real estate prices, Calgary Real Estate Stats, nw calgary, Real estate, Real estate economics
Posted in Blog, Real Estate Board's Statistics | Comments Closed

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

Tags:Calgary, Calgary Condos, calgary real estate, calgary real estate prices, Calgary Real Estate Stats, Consumer theory, Inventory, Northwest Calgary Real Estate Prices
Posted in Blog, Property Values, Real Estate Board's Statistics | Comments Closed

May’s Calgary Real Estate Market Snapshot

Monday, June 3rd, 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 Seller’s market.

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

Calgary Listing Inventory: Inventory levels for all categories except townhouses increased throughout May. The Townhouse inventory dropped only marginally. Seeing our inventory increase is very normal at this time of year as many people wait until spring to list their homes. This trend of increasing inventory should continue for the next few months.

Inventory	April 2013	May 2013	Change
Single Family Home	2977	3311	+334
Condo Townhouse	518	503	-15
Condo Apartment	871	929	+58
Total	4366	4743	+377

Calgary Sales:

Sales increased in all categories except apartment Condo’s this month. Apartment condo sales dropped but by very little. What is important here is that our sales increased at a lower rate than our inventory moving us towards a balanced market (although we have a long way to go). We are still challenged to find good Single Family homes for buyers as there is little choice so many buyers are moving into the townhouse market, the condominium market and surrounding towns.

Sales	April 2013	May 2013	Change	% Change
Single Family Home	1611	1766	+155	+9.6%
Condo Townhouse	341	365	+24	+7.0%
Condo Apartment	429	413	-16	-3.8%
Total	2381	2544	+163	+6.8%

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

In May, 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	April 2013 Benchmark Price	May 2013 Benchmark Price	Change
Single Family Homes	452,900	456,900	+$4,000
Condo Townhouse	288,900	292,100	+$3,200
Condo Apartment	261,300	263,600	+$2,300

Sales Prices “Year to Date”

Year to date prices have increased in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	May 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	456,900	+$22,100	+5.1%
Condo Townhouse	284,100	292,100	+$8,000	+2.8%
Condo Apartment	248,700	263,600	+$14,900	+5.99%

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 May there was little change in the absorption rate except for the apartment condo market which softened a little.

Absorption Rate	April 2013	May 2013	Change
Single Family Homes	1.85	1.87	+.02
Condo Townhouse	1.52	1.37	-.15
Condo Apartment	2.03	2.25	+.22
Total Calgary	1.83	1.86	+.03

**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 please contact us.

If you have any questions about this summary 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

Tags:Calgary, calgary real estate, calgary real estate prices, Calgary Real Estate Stats, Condominium, moving to calgary
Posted in Blog, calgary realtor, Real Estate Board's Statistics | Comments Closed

April’s Calgary Real Estate Market Snapshot

Tuesday, April 30th, 2013

Want to know what is really happening in Calgary’s Real Estate Market. Bottom line Real Estate is all about supply and demand so that is our focus here. Below you will find a summary of some key Factors with a few short comments. In summary the Calgary housing market is very strong. Sales are strong and our inventory is on the low side making it a Seller’s market. All numbers below are taken from the Calgary Real Estate Boards Stats Package for Realtors.

Calgary Listing Inventory: Inventory levels for all categories increased throughout April. Seeing our inventory increase is very normal at this time of year as many people wait until spring to list their homes. This trend of increasing inventory should continue for the next few months.

Inventory	March 2013	April 2013	Change
Single Family Home	2727	2977	+250
Condo Townhouse	484	518	+34
Condo Apartment	796	871	+75
Total	4007	4366	+359

Calgary Sales:

Sales increased in all categories this month. What is important here is that our sales increased at a higher rate than our inventory putting us into an even stronger sellers market than last month. What I am seeing is that good single family homes in the lower price ranges are harder to find and therefore we are seeing more buyers moving into the townhouse market, the condominium market and surrounding towns.

Sales	March 2013	April 2013	Change	% Change
Single Family Home	1480	1611	+131	+8.8%
Condo Townhouse	283	341	+58	+20.4%
Condo Apartment	347	429	+82	+23.6%
Total	2110	2381	+271	+12.84

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

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

Sales Prices	March 2013 Benchmark Price	April, 2013 Benchmark Price	Change
Single Family Homes	446,500	452,900	+$6,400
Condo Townhouse	286,800	288,900	+$2,100
Condo Apartment	257,700	261,300	+$3,600

Sales Prices “Year to Date”

Once again we saw increases in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	April 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	452,900	+18,100	+4.2%
Condo Townhouse	284,100	288,900	+4,800	+1.7%
Condo Apartment	248,700	261,300	+12,600	+5.1%

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	March 2013	April 2013	Change
Single Family Homes	1.84	1.85	+.01
Condo Townhouse	1.71	1.52	– .19
Condo Apartment	2.29	2.03	– .26
Total Calgary	1.90	1.83	– .07

Yes, we are in a Sellers Market

As you can see above we are in a Seller’s market for all categories and it is getting stronger in favour of sellers. 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.

Gord, Eric & Brent

Tags:Business/Finance, Calgary, Calgary Home Prices, calgary real estate, calgary real estate prices, Calgary Real Estate Stats, Condominium, Inventory, Real Estate Absorption Rate
Posted in Blog, Real Estate Board's Statistics | Comments Closed

The Gord Piper & Associates Real Estate Blog

Posts Tagged ‘calgary real estate prices’

Calgary Real Estate Market Snapshot Sept 2014

August 2014, Calgary Real estate Market Snapshot

June 2014, Calgary Real Estate Market Snapshot

June 2014 Real Estate Market Snapshot

Calgary Real Estate Market snapshop updated Feb 3, 2014

Calgary Real Estate Market Snapshot updated Jan 2014

Sept 2013 Calgary Real Estate Market Snapshot

June 2013, Calgary Real Estate Market Snapshot

May’s Calgary Real Estate Market Snapshot

April’s Calgary Real Estate Market Snapshot

Pages

Archives

Categories