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Calgary’s March Real Estate Market Snapshot

Monday, April 1st, 2013

Below is a short summary of what is really happening in the Calgary Real Estate Market.  It cuts through all the extra and provides key information on supply and demand which is what drives prices.  For each area I have also included a few comments.    All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors.  In summary the Calgary housing market is starting off 2013 with very strong sales and our inventory is on the low side putting us in a Seller’s market.    

Calgary Listing Inventory:  Inventory levels for all categories increased throughout March.  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 

February  2013    

March   2013   

Change

Single Family Home

2408

2727

+13.2%

Condo    Townhouse  

427

484

+13.3%

Condo    Apartment 

704

796

+13.1%

Total

3539

4007

+13.2%

 Calgary Sales: 

Sales increased in all categories this month.  The trend seems that buyers are coming to the market a little earlier every year.  I am also finding that good single family homes in the lower price ranges are harder to find and therefore we are seeing more buyers moving into the condominium market.            

Sales

Feb  2013

March 2013  

Change

% Change

Single   Family Home

1209

1480

+271

+22.4%

Condo  Townhouse    

223

283

+60

+25.6%

Condo   Apartment

279

347

+60

+24.4%

Total

1711

2110

+399

+23.3%

 

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

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

 

Sales Prices

Feb  2013

Benchmark Price

March, 2013

 Benchmark Price  

Change

Single   Family Homes

442,500

446,500

+4,000

Condo   Townhouse  

283,000

286,800

+3,800

Condo  Apartment    

252,900

257,700

+4,800

 

Sales Prices  “Year to Date”  

Once again we saw increases in all categories.   

Sales Prices

Dec  31 2012    Benchmark Price 

March 2013

Benchmark Price 

Change

% Change

Single   Family Homes

434,800

446,500

+11,700

+2.7%

Condo   Townhouse  

284,100

286,800

+2,700

+.95%

Condo  Apartment    

248,700

257,700

+9,000

+3.62%

  

Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

                                    Below 3.0 indicates a Seller’s Market

                                    Between 2.8 to 4.0 indicates a Balanced Market

                                    Above 4.0 indicates a Buyer’s Market.

Absorption Rate  

Feb  2013

March  2013  

Change

Single   Family Homes

1.99

1.84

-.15

Condo   Townhouse  

1.91

1.71

-.2

Condo  Apartment    

2.52

2.29

-.23

Total   Calgary

2.07

1.90

-.17

                                                                       

                                                                                = “ Seller’s 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 pass this on. 

Gord, Eric & Brent

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Calgary’s January 2013 Real Estate Market Snapshot

Sunday, February 3rd, 2013

In an effort to keep you informed about what is really happening in the Calgary Real Estate Market you will find a summary of some key areas with a few short comments.  In summary the Calgary housing market is starting off 2013 on a positive note.   All numbers below are from the Calgary Real Estate Board’s Monthly Stats package for Realtors.

Calgary Listing Inventory:  Inventory levels for all categories increased throughout January.  Seeing our inventory increase is very normal at this time of year as many people wait until the New Year instead of listing over the holidays.  This trend of increasing inventory should continue for the next few months.        

Inventory 

December  2012    

January 2013   

Change

Single Family Home

1859

2075

+216

Condo    Townhouse  

310

369

+41

Condo    Apartment 

553

640

+87

Total

2722

3084

+362

 

Calgary Sales:  Sales increased in all categories this month with except apartment condos.  This is a very normal trend as people were focused on Christmas in December and put off their home buying until the New Year.  The key here is that although sales increased 13.6% the number of listings on the market also increased by 13.3%  leaving us in roughly the same market position.          

Sales

Dec   2012

Jan 2013  

Change

% Change

Single   Family Home

745

879

+134

+18.0%

Condo  Townhouse    

119

147

+28

+23.5%

Condo   Apartment

219

204

-15

-6.9%

Total

1083

1230

+147

+13.6

 

Calgary Real Estate Sales Prices:  Please note that we are now using the Benchmark price for this comparison.  As the chart below demonstrates the benchmark price increased slightly for single family homes and apartment condos and decreased slightly for townhouses.    

 

Sales Prices

Dec  2012

Benchmark Price

Jan 2013

 Benchmark Price  

Change

Single   Family Homes

434,800

436,900

+2,100

Condo   Townhouse  

284,100

283,400

(700)

Condo  Apartment    

248,700

251,300

+2,600

 Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Below 3.0 indicates a Seller’s Market

Between 3.0 to 4.0 indicates a Balanced Market

Above 4.0 indicates a Buyer’s Market.

Absorption Rate  

Dec 2012

Jan 2013  

Change

Single   Family Homes

2.50

2.36

(.14)

Condo   Townhouse  

2.61

2.51

(.1)

Condo  Apartment    

2.53

3.14

+.61

Total   Calgary

2.51

2.51

=

 

As you can see above we are in a Seller’s market for all categories except apartment condos. 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 me.  If you are thinking of Selling the first half of the year might be best as I expect our inventory to substantially increase by mid-year.

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 pass it on.  

Gord

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Snapshot of Calgary’s Real Estate Market for December 2012

Wednesday, January 2nd, 2013

Following is a short summary of what is happening in the Calgary Real Estate Market.   All data is taken from the December 2012 Calgary Real Estate Boards monthly Stats package for Realtors. you will also find my comments on each area. Overall the Calgary housing market slowed for the month of December which is very typical for the holiday season.   

Calgary Listing Inventory:  Inventory levels for all categories decreased again in November.  Seeing our inventory decrease is very normal at this time of year as most people like to wait until after Christmas and into spring to list their homes.  I believe that starting this week we will see inventory start to rise again.       

Inventory 

November  2012      

December  2012 

Change

Single Family Home

2586

1859

(727)

Condo    Townhouse  

426

310

(116)

Condo    Apartment 

819

553

(266)

Total

3831

2722

(1109)

 

Calgary Sales: 

Sales decreased in all categories this month although it’s important to point out that we still beat last year’s sales by 5.6%.   This is a very normal trend as people are focused on Christmas and put off their home buying until the New Year.  The key here is that although sales decreased by 25.6% the number of listings on the market decreased by 29.0% meaning the market is still very strong.         

Sales

Nov  2012

Dec 2012

Change

% Change

Single   Family Home

1006

745

(261)

(25.9%)

Condo  Townhouse    

198

119

(79)

(40.0%)

Condo   Apartment

253

219

(34)

(13.4%)

Total

1457

1083

(374)

(25.6%)

 

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

As the chart below demonstrates the benchmark price for all categories increased this month again.  In my opinion this is a very healthy market with good activity level and prices showing modest increases. We are however starting to see competing offers in some situations mostly in inner city, single family homes and rental properties.   

  

Sales Prices

Nov  2012 Benchmark Price  

Dec  2012 Benchmark Price  

Change

Single   Family Homes

433600

434,800

+1,200

Condo   Townhouse  

282800

284,100

+1,300

Condo  Apartment    

248,000

248,700

+700.

 

As we are at the end of another year here are the YTD numbers

Sales Prices

Dec  2011  Benchmark Price  

Dec  2012 Benchmark Price  

Change

% Change

Single   Family Homes

399,900

434,800

+ 34,900

+8.7%

Condo   Townhouse  

272,700

284,100

+11,400

+4.2%

Condo  Apartment    

236,000

248,700

+12,700

+5.38%

 

 

Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Below 3.0 indicates a Seller’s Market

Between 3.0 to 4.0 indicates a Balanced Market

Above 4.0 indicates a Buyer’s Market.

Absorption Rate  

Nov 2012

Dec  2012

Change

Single   Family Homes

2.57

2.50

(.07)

Condo   Townhouse  

2.15

2.61

+ .46

Condo  Apartment    

3.24

2.53

(.71)

Total   Calgary

2.63

2.51

(.12)

 

As you can see above we are in a Seller’s market for all categories. 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, 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 it on. 

Gord, Eric & Brent

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Calgary Real Estate Market Snapshot for November 2012

Sunday, December 2nd, 2012

Prices in Real Estate are simply a function of supply and demand,  Below you will find a summary of some key areas such as inventory(supply) and Sales (demand) with a few short comments along with what happened to prices this month.  All numbers were taken from the November stats package prepare for Realtors by the Calgary Real Estate Board.

The Calgary housing market stayed steady for the month of November 2012.

Calgary Listing Inventory:  Inventory levels for all categories decreased again in November.  Seeing our inventory decrease is very normal at this time of year as many people like to wait until after Christmas and into spring to list their homes.

Inventory 

Oct  2012    

November  2012 

Change
Single Family Home

3114

2586

-528
Condo    Townhouse

506

426

-80
Condo    Apartment

985

819

-166
Total

4605

3831

-774 or 16.8%

 

Calgary Sales: 

Sales decreased in all categories this month.   This is a very normal trend as people start to focus on Christmas and put off their home buying until the New Year.  The key here is that although sales decreased by 12.5% the number of listings on the market decreased by 16.8% meaning the market is still very strong.  Also, it is interesting to note that total sales Kaikki mainitut pelinvalmistajat ovat eurooppalaisia ja myos kaikki taman sivun casinot toimivat euroopassa eurooppalaisella lisenssilla. in Calgary were 8.3% higher than in November 2011.

Sales

Oct  2012

Nov  2012

Change

% Change

Single   Family Home

1174

1006

-168

-14.4%
Condo  Townhouse

219

198

-21

-9.6%
Condo   Apartment

272

253

-19

-7.0%
Total

1665

1457

 -208

-12.5%

 

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

As the chart below demonstrates the benchmark price for all categories increased this month with the largest increase again in Single Family homes.   In my opinion this is a very healthy market with good activity level and prices showing modest increases. We are however starting to see competing offers in some situations mostly in inner city single family homes.

 

Sales Prices Oct   2012   Benchmark Price  

Nov  2012 Benchmark Price  

Change

Single   Family Homes

433,300

433600

$300
Condo   Townhouse

279,000

282800

$3,800
Condo  Apartment

247,000

248,000

$1,000

 

Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

A rate of below 3.0 indicates a Seller’s Market

A rate of between 3.0 to 4.0 indicates a Balanced Market

A rate of above 4.0 indicates a Buyer’s Market.

Absorption Rate  

Oct  2012  

Nov 2012

Change

Single   Family Homes

2.65

2.57

-.8
Condo   Townhouse

2.31

2.15

-.16
Condo  Apartment

3.62

3.24

-.38
Total   Calgary

2.76

2.63

-.13

 

As you can see above Apartment condos are still in a balanced market place while single family homes and townhouses are now in a seller’s market.

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, 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 it on.

Have an awesome day!

Gord, Eric & Brent

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What’s happening in the Calgary Real Estate Market!

Wednesday, August 1st, 2012

Here is a snapshot of what is really happening in the Calgary Real Estate Market.  Real estate are based on supply and demand so the key numbers we look at here are Inventory, Sales, absorbtion Rate and of course Prices which is simply a reflection of the above categories.   All numbers below are from the Calgary Real Estate Boards Monthly stats package produced for realtors.

Many of you are aware that the Mortgage rules recently changed and everyone was wondering what effect that would have on the market.  Well the biggest change was that 30 year amortization are no longer available as the maximum is now 25 years.  As you will see from the stats below these changes did not have much impact so far in Calgary.

Calgary Listing Inventory:  Inventory levels for all categories decreased slightly in July.  Last year this was the time when our inventory started increasing rapidly so seeing a slight decline is a good sign.

Inventory 

June  2012 

July  2012 

Change
Single   Family Home

3817

3646

-171
Condo  Townhouse    

693

623

-70
Condo  Apartment   

1205

1161

-44
Total  

5715

5390

-325

 

Calgary Sales: 

Sales decreased in all categories this month.   In my opinion this was expected and is more of a seasonal adjustment as we are following the same trend as last year when our sales peaked in June.   Last year sales in June were 2200 and in July were 1936 – a 13.6% decrease. Total Calgary residential sales for July were 21.3% higher than in 2011.

Sales

June 2012  

July 2012

Change

% Change

Single Family Home

1609

1386

-223

-16.1
Condo    Townhouse  

253

239

-14

-5.8
Condo Apartment

340

311

-29

         -9.3
Total

2202

1936

 -266       -13.7

 

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

As the chart below demonstrates the benchmark price for all categories stayed flat this month.  In my opinion this is a very healthy market with good activity level and prices showing modest increases.

 

Sales Prices June 2012   Benchmark Price   

July  2012 Benchmark Price  

Change

Single Family Homes

430,800

432400

+1200.
Condo Townhouse  

278,000

277400

-600.
Condo    Apartment  

246,300

247600

+1300.

Absorption Rate  (Months of Inventory) – Yes a new category!

The absorption rate is the inventory divided by the number of sales in the last month.

What does this mean you might ask?

An absorption rate of below 3.0 indicates a Seller’s Market

An absorption rate of between 3.0 to 4.0 indicates a Balanced Market

An Absorption rate of above 3.0 indicates a Buyer’s Market.

 

Absorption Rate   June  2012   

July  2012   

Change

Single Family Homes

2.37

2.63

+.26
Condo Townhouse  

2.73

2.61

-.12
Condo    Apartment  

3.54

3.73

+.19
Total Calgary

2.60

2.78

+.18

 

Therefore overall we are in a balanced market.  Please note that these numbers do change on a community basis.  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 anytime.

If you would like the full stats package just let me know.

Gord, Eric & Brent

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June 2012, Calgary Housing Market Snapshot

Tuesday, July 3rd, 2012

Want to know what’s really happening in the Calgary Real Estate Market.  Below you will find a summary of some key areas with a few short comments.  All stats are taken from the Realtors June stats package from the Calgary Real Estate Board.

Calgary housing market continues to perform!

Calgary Listing Inventory:  Inventory levels for all categories remained almost flat for June.

Inventory 

May  2012   

June  2012 

Change
Single   Family Home

3842

3817

-25
Condo  Townhouse    

675

693

+18
Condo  Apartment   

1222

1205

-17
Total  

5739

5715

-24

 

Calgary Sales: 

Sales decreased slightly in all categories this month.   In my opinion this was expected as we are following the same trend as last year when our sales peaked in June.  Total Residential sales however were 16% higher for the first half of this year compared to last year.

Sales

May  2012

June 2012

Change

% Change

Single Family Home

1710

1609

-101

-5.9
Condo    Townhouse  

289

253

-36

-12.4
Condo Apartment

386

340

-46

 -11.9
Total

2385

2202 

         -183 -7.7

 

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

As the chart below demonstrates the benchmark price for all categories increased marginally this month.  In my opinion this is a very healthy market with good activity level and prices showing modest increases.

Sales Prices May  2012 Benchmark Price   

June  2012 Benchmark Price  

Change

Single Family Homes

427,500

430,800

+3,300
Condo Townhouse  

277,000

278,000

+1,000
Condo    Apartment  

245,400

246,300

+900

The absorbtion rate is the number of listings divided by the number of sales in the last month.  absorbtion rates are as follows:

Single Family Homes: 2.24

Townhouses: 2.33

Apartment Condos: 4.23

This tells me that single family homes and townhouses are moving quicker than apartment style condos.

Overall the market is now in a balanced market position  It is interesting as there are still many communities that are in a buyer’s market position as they have a higher inventory.  If you want to know how your community sit’s let me know.

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

If you find this info useful please pass on to others who will benefit.

Gord, Eric & Brent

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April 2012 Real Estate Market Snapshot

Monday, April 30th, 2012

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

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

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

 Calgary Sales: 

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

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

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

With inventory increasing only slightly and sales increasing substantially it only makes sense that we see prices start to rise.  As you can see below Single Family homes saw the largest increase.  I believe this is because the increase in sales activity on single family homes started a few months before condo sales started increasing.

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

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

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

Gord, Eric & Brent

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Calgary Real Estate March 2012 snapshot

Tuesday, April 3rd, 2012

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

Calgary Listing Inventory:

Inventory levels for both Single Family homes and Condo’s increased this month.  This movement is normal for this time of year but what is important to look at is the increase compared to our sales. This increase now seems small and what we are seeing on the street is that it is getting hard to find good homes in certain areas now.

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

Calgary Sales:

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

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

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

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

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

Overall the market is now in a seller’s market position.   It is interesting as there are still many communities that are in a buyer’s market position as they have a higher inventory. If you want to know how your community is positioned let me know.

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

Gord, Eric & Brent

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January 2012 Calgary Housing Statistics

Wednesday, February 1st, 2012

What’s happening in the Calgary Real Estate Market? 

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

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

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

Calgary Listing Inventory:  Inventory levels for both Single Family homes and Condo’s increased this month.   This movement is normal for this time of year and we will most likely see this trend continue for the next several month.  

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

Calgary Sales: 

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

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

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

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

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

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

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

Gord, Eric & Brent

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November 2011 Calgary Real Estate Market Snapshot

Friday, December 2nd, 2011

It is our pleasure to provide key information from the Calgary Real Estate Boards monthly stats package and add a few short comments to help you really understand what is happening in the market.   The key areas that we look at include Inventory, Sales and the Median Price as this gives  a great snapshot of the market.

Calgary Listing Inventory:  Inventory levels for both Single Family homes and Condo’s decreased this month.   This is the first month in a long time that we have seen our inventory consistently decrease every week.  This movement is normal for this time of year as many people believe it is now better to wait till spring.

Inventory   October 2011  November 2011 Change
Single Family Home 4486 3761  Decrease of 725
Condo’s 1935 1676  Decrease of 259
Total 6421 5437 Decrease of 984

 Calgary Sales:  Calgary Single Family home sales for the month of November remained almost flat this month.  You may have read the news that says “sales are up” but that number is comparing sales to Nov 2010.  The normal trend at this time of year is to see sales drop so remaining flat is a sign of strength.        

Sales October 2011 November 2011 Change
Single Family Home 988 962 (26)
Condo’s 368 393 + 25
Total 1356 1355 (1)     

 Calgary Real Estate Sales Prices:  Single family home prices increased by $7,975 while the median price of condo’s decreased by $12,625.  The median prices are not showing any certain direction but are bouncing up and down every month.  Let’s look at the year to date numbers to really see what’s happening.

Single Family Home:  Dec 31, 2010 the median price was $406,000 so for the year the median price has decreased by $3,075

Condos:  Dec  31, 2010 the median price for condos was 267,250 compared to today at $250,000 showing a decrease of $17,250        

Sales Prices October Median Prices November Median Prices Change
Single Family Homes $395,000 $402,925 +$7,975
Condo’s $262,625 $250,000 $(12,625)

Overall we are still in a buyer’s market although with the decreased inventory levels and sales maintaining we are moving closer to a balanced market.

If you have any questions or comments about this snapshot please let us know.

For a full copy of the November Calgary Real Estate Boards Monthly Stats package please contact us.

Gord, Eric and Brent

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