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Calgary Real Estate Market Snapshot for dec 1, 2023

Friday, December 1st, 2023

What is really happening in the Calgary Real Estate Market?

 

Following is a graph that shows the months of inventory for each housing sector. Looking at a one-year trendline gives you an indication of where things are really heading.

Graph of Months of Inventory

Graph of Months of Inventory

 

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

October 2023 Highlights

The Calgary Market appears to be slowing a little.

  • New listing in November were down 17% yet were up 38% from last year.
  • Sales declined by 18.2%%
  • Prices increased moderately.
  • Seller’s market continues….

 

Calgary Listing Inventory

Our inventory of listings declined in November by only 206 listings.  This is very normal as the normal trend is to see less new listings at this time of year.  When I look at last year the decline from Oct to Nov was 773 so the listing inventory change is much smaller this year.

Calgary Sales:

Sales in November were also down 382 Sales from October.  Seeing this decrease is very normal as moving towards the holiday season we typically see a slowdown.

Sales Compared to 2022: 

It is also important to look at sales compared to the Previous year. Sales for November were up by 8.8% from last year.  The demand is still very strong so the more we can list the more we sell.

 

  Jan Feb Mar Apr May June
2022 2004 3305 4091 3401 3071 2837
2023 1199 1740 2432 2690 3120 3146
Change -805 -1565 -1659 -711 +57 +309
% Change -40.1% -47.4% -40.55% -20.9% +1.9% +10.9%

 

  July Aug Sept Oct Nov Dec
2022 2249 2133 1893 1855 1642  
2023 2647 2729 2441 2171 1787  
Change +398 +596 +548 316 +145  
% Change +17.7% 27.9% +28.9% +17.1% 8.8%  

 

Calgary Real Estate Benchmark Sales Prices:

The overall benchmark price saw a slight increase in all sectors this month.  The overall benchmark price increased by $1,100 in November. The highest increase was $3900 in the Attached-Row sector followed by an increase of $3500 in the Apartment Condo sector. Detached homes gained $1,900 while Semi-Detached homes remained flat.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

For all of Calgary year to date we have so far seen an increase in all sectors of 10.29% or $53,900.

Here are the dollar increases for each sector:

Detached: $79,900

Semi Detached: $65,700

Attached Row: $70,800

Apartment: $45,300

It is important to note that these are Calgary overall numbers and each community within Calgary will be different – some higher and some lower.

 

Current Months of Inventory (Absorption Rate): 

With the number of sales dropping less than the number of listings our Months of Inventory have been pushed up.  The largest change is in the Attached Row Sector which increased by .53.

While all sectors are increasing their months of inventory keep in mind that we are still very much in a seller’s market.

 

My Prediction for what is ahead:  Based on what I am seeing and taking history into account, I believe we will see the same slowing trend in December.  I believe this is going to be short lived and in January we will start to see the trend reverse pushing us into a deeper seller’s market.  This prediction is largely based on what is driving demand (immigration) and I do not see that changing any time soon, I predict sales are going to remain strong and prices are going to continue to trend upwards throughout 2024.

**Below is a summary of numbers in chart form. All numbers are taken from the Calgary Real Estate Boards monthly Stats package.

 

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

 

See Stats from the Calgary Real Estate Market Below

Calgary Real Estate Board Stats

Calgary Real Estate Board Stats

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Calgary Real Estate Market Snapshot for Nov 1, 2018

Thursday, November 1st, 2018

What is really happening in the Calgary Real Estate Market?

Months of Inventory for last 2 years.

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

_______________________________________________________________________

Current Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.  In October we saw every category decrease in the number of months of inventory, however all categories are still in a Buyers Market position.

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

  

Calgary Listing Inventory

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

 

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

 

Calgary Sales:

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

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

 

Sales Compared to last year:  Thought this is a number that deserves a look as the trend is changing. Chart shows this year’s sales as a percentage of last years so yes,  sales are down but they are down less than at the beginning of the year.

Jan Feb Mar Apr May June July Aug Sept Oct Nov  Dec
102% 82% 72% 80% 82% 89% 95% 93% 85.9% 90.1%    

 

Calgary Real Estate Sales Prices:

October saw prices decrease in all sectors except Apartment Condos which did not change. This is expected with the high number of months of inventory on the market.  Unless something changes we can expect to see this trend for a few more months.

  Sales Prices Sept 2018     Benchmark Price   Oct 2018   Benchmark Price Change
Detached 493,100 490,200 -2,900
Semi Detached 407,400 403,400 -4,000
Attached – Row 294,200 293,400 -800
Apartment 257,200 257,200 0
Total City 428,700 426,300 -2,400

  

Sales Prices “Year to Date”  

Same as monthly number

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

$

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

 

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

 

 

 

 

 

 

 

 

 

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Calgary Real Estate Market Snapshot Feb 1, 2015

Monday, February 2nd, 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 No Change

 

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 substantially this month. While January we usually see an increase from December,  this number is very large. With the uncertainty around the oil prices many people that would have listed in spring jumped into the market early.

 

Inventory Dec 2014 Jan 2015 Change
Detached 1496 2359 +863
Attached 315 950 +635
Apartment 745 1117 +372
Total City of Calgary 2883 4426 +1543

 

Calgary Sales:

Typically sales in January increase over December however this is not the case this year.

If I compare sales numbers to last January (which was a strong month) we are down about 37% in total sales.

Sales Dec 2014 Jan 2015 Change % Change
Detached 607 535 -72 -11.8%
Attached 252 190 -60 -23.8%
Apartment 223 155 -68 -30.4%
Total City of Calgary 1082 880 -202 -18.7%

 

 

Calgary Real Estate Sales Prices:

Although we have seen a large increase in inventory and a large decrease in sales, the prices have changed very little so far.

Sales Prices Dec 2014 Benchmark Price Jan 2015 Benchmark Price Change
Detached 518,600 518,600 0
Attached 350,000 341,850 -8,150
Apartment 300,400 298,700 -1,700
Total City of Calgary 459,500 459,100 -400

 

Sales Prices “Year to Date”

Year to date prices – Same as above as were in first month.

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

$

% Change
Detached 518,600 518,600 0 0
Attached 350,000 341,850 -8,150 -2.3%
Apartment 300,400 298,700 -1,700 -.6%
Total City of Calgary 459,500 459,100 -400 -.09%

  

 

 

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 increased substantially for all categories. While last month we were still in a seller’s market we have clearly moved to a buyer’s market. What this would typically mean is that until things change we are seeing a high supply and weak demand which will put downward pressure on pricing as buyer’s in this market can typically negotiate better prices.

 

Absorption Rate Dec 2014 Jan 2015 Change
Detached 2.46 4.41 +1.95
Attached 1.25 5.0 +3.75
Apartment 3.34 7.21 +2.16
Total City of Calgary 2.66 5.03 +2.37

 

**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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October 2014, Calgary Real Estate Market Snapshot

Monday, November 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!

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/

An interesting month in the Calgary Real Estate market. Apartment Condos and Townhouses continued to slowly shift away from a seller’s market towards a more balanced market. I find it interesting that Single Family homes moved slightly deeper into a Seller’s market. Attached please find a copy of the stats package from the Calgary Real Estate Board for the month of Oct 2014.  Below is a summary of some key areas with a few short comments.

 

Calgary Listing Inventory: Inventory levels typically decrease at this time of year as some people now wait until the New Year to list. That was the case for Single Family homes. Townhouses and Apartment condos increased very slightly but not big enough to make any substantial difference.

 

Inventory Sept 2014     Oct 2014     Change
Single Family Home 2961 2780 -181
Condo Townhouse 552 568 +16
Condo Apartment 1081 1088 +7
Total 4594 4436 -158

 

Calgary Sales:

Typically at this time of year we also see sales numbers decreasing. Sales in October decreased marginally for Townhouses and Apartment Condos while sales for Single Family Homes increased. I believe this may be still a backlog of buyers waiting for the perfect home to come on the market. It is critical to note that even though the sales are decreasing we are still substantially above our sales for 2013.

Sales Sept 2014     Oct 2014     Change % Change
Single Family Home 1397 1462 +65 +4.6
Condo Townhouse 318 300 -18 -5.6
Condo Apartment 432 385 -47 -10.9
Total 2267 2147 -120 -5.3

 

 

Calgary Real Estate Sales Prices:

In October, the benchmark price increased for all categories. Based on what I am seeing my prediction is for prices to continue to increase for Single family homes, and less so for Townhouses but Apartment condo prices should flatten as they are now in a balanced market state. If you have been following my reports you will notice the increases are continuing to get smaller every month.

Sales Prices Sept   2014   Benchmark Price Oct  2014     Benchmark Price Change
Single Family Homes 512,800 513,500 +700
Condo Townhouse 336,300 337,800 +1500
Condo Apartment 298,800 299,800 +1000

 

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 Oct  2014 Benchmark Price Change$ % Change
Single Family Homes 472,200 513,500 +41,300 8.75
Condo Townhouse 307,100 337,800 +30,700 +9.99
Condo Apartment 278,600 299,800 +21,200 +7.61

 

 

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 Townhouses and Apartment Condos and decreased for single family homes. This puts single family homes in more of a sellers market while it puts apartment condos into a balanced market.

Absorption Rate Sept 2014   Oct 2014   Change
Single Family Homes 2.11 1.90 -.12
Condo Townhouse 1.74 1.89 +.15
Condo Apartment 2.50 2.83 +.33
Total Calgary 2.14 2.06 -.08

 

**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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July 2014, Calgary Real Estate Market Snapshot

Monday, August 4th, 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 July 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 decreased for single family homes and stayed flat for townhouses and condos. Normally our inventory would show a much higher increase in July. I speculate the reason is that we still have a large backlog of buyers waiting for the perfect home to come on the market. I am surprised that the levels did not increase more than they did.

Inventory June 2014 July 2014 Change
Single Family Home 3128 3056 -72
Condo Townhouse 523 536 +13
Condo Apartment 1071 1070 -1
Total 4722 4662 -60

 

Calgary Sales:

Sales in July decreased in all categories. Sales numbers decreasing is very normal at this time as people start to go on summer vacations and the city shuts down for the Stampede. No surprises here.

Sales June 2014     July 2014 Change % Change
Single Family Home 1769 1553 -216 -12.2
Condo Townhouse 427 339 -88 -20.6
Condo Apartment 474 444 -30 -6.3
Total 2670 2336 -334 -12.5

 

 

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. If you have been following my reports monthly the increase is smaller than what we have been seeing.

Sales Prices June 2014     Benchmark Price July 2014

Benchmark Price

Change
Single Family Homes 509,700 511,600 +1900
Condo Townhouse 326,000 327,000 +1,000
Condo Apartment 299,700 298,100 -1,600

 

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 July 2014     Benchmark Price Change

$

% Change
Single Family Homes 472,200 511,600 +39,400 +8.3
Condo Townhouse 307,100 327,000 +19,900 +6.5
Condo Apartment 278,600 298,100 +19,500 +7.00

 

 

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 fourth month in a row our absorption rate has increased. This indicates that the market is changing and we are moving towards a balanced market with apartment condos leading the way. 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. My prediction is that this trend will continue and by September or October we will be approaching a balanced market – sooner for apartment condos.

Absorption Rate June 2014   July 2014   Change
Single Family Homes 1.77 1.97 +.2
Condo Townhouse 1.22 1.58 +.36
Condo Apartment 2.26 2.40 +.14
Total Calgary 1.77 1.99 +.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.

 

 

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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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May 2014, Calgary Real Estate Market Snapshot

Saturday, May 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 with very little supply and strong demand.   Last month  (March) sales increased by 38% and our inventory only increased by 12.0%. This month (April) sales increased by only 2.4% while inventory increased by 17.2%.

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

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

Good news for home buyers.В The Calgary housing market is still very busy however it is finally showing signs of change.

Calgary Listing Inventory: Inventory levels increased this month in all categories. This is what normally happens at this time of year. The interesting thing 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.

Inventory March 2014В В  April 2014В В  Change
Single Family Home 2052 2445 393
Condo Townhouse 389 445 56
Condo Apartment 791 898 107
Total 3232 3788 556 or 17.2%

 

Calgary Sales:

Sales in April increased in every categoryВ over last month which isВ to be expected at this time of year. Again interesting the total sales increase over last month was only 2.4%. Substantially lower than in previous months.

Sales March 2014В В  April 2014В В  Change % Change
Single Family Home 1699 1736 37 2.1
Condo Townhouse 341 360 19 5.5
Condo Apartment 445 449 4 .9
Total 2485 2545 60 2.4

В 

В 

Calgary Real Estate Sales Prices:

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

Sales Prices March 2014В В  Benchmark Price April 2014В В  Benchmark Price Change
Single Family Homes 490,600 496,700 6,100
Condo Townhouse 313,100 316,700 3,600
Condo Apartment 287,200 291,700 4,500

В 

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 April 2014В В  Benchmark Price Change

$

% Change
Single Family Homes 472,200 496,700 24,500 5.19
Condo Townhouse 307,100 316,700 9,600 3.1%
Condo Apartment 278,600 291,700 13,100 4.7%

В 

В 

Absorption Rate (Months of Inventory) В (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 is where it gets interesting. One month does not make a trend but it can certainly start one. For the first time in almost a year the increase in inventory is substantially larger than the increase in sales. This means that we are moving closer to a balanced market however we still have a long ways to go to get to that point. 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 March 2014В В  April 2014В В  Change
Single Family Homes 1.21 1.41 .20
Condo Townhouse 1.14 1.24 .1
Condo Apartment 1.78 2.0 .22
Total Calgary 1.30 1.48 .18

**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 April 2014

Monday, March 31st, 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 deeply  entrenched is a Sellers Market with very little supply and strong demand.   This month sales increased by 38% and our inventory only increased by 12.0%.

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.

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 very normal for this time of year however the increase is not enough to keep pace with the increase in sales.  There is still a shortage of homes on the market and the good ones are selling very fast, usually in the first day with competing offers.

Inventory 

February   2014   

March   2014   

Change
Single Family Home

1894

2052

+158
Condo  Townhouse

324

389

+223
Condo  Apartment

677

791

+114
Total

2895

3232

+337

l

Calgary Sales: 

Sales in March increased in every category over last month which is to be expected at this time of year.  Last year the increase in sales was 24% so this year it is substantially higher.

Sales

February   2014   

March   2014   

Change  

%   Change

Single Family Home

1230

1699

+479

+38%
Condo  Townhouse

265

341

+76

+29%
Condo Apartment

359

445

+86

+24%
Total

1854

2485

 +631

+34%

 

 

Calgary Real Estate Sales Prices:  

In March, the benchmark price increased for all categories.  Watch prices continue to rise until the inventory starts to rise.

  Sales   Prices

February 2014       Benchmark Price

March 2014    Benchmark   Price  

Change  

Single Family Homes

482,800

490,600

+7,800
Condo Townhouse

309,700

313,100

+3,400
Condo  Apartment

283,400

287,200

+3,800

 

 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 

March 2014    Benchmark   Price 

Change

$  

%   Change

Single Family Homes

472,200

490,600

+18,400

+4.0%
Condo Townhouse

307,100

313,100

+6,000

+2.0%
Condo  Apartment

278,600

287,200

+$8,600

+3.0%

 

 

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:   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 March our inventory increased by 12.0% and our sales increased by 34.0% making it even a stronger market for sellers.  As mentioned above competing offers are happening all over.

Absorption Rate  

February 2014     

March 2014   

Change  

Single Family Homes

1.54

1.21

-.33
Condo Townhouse

1.22

1.14

-.08
Condo  Apartment

1.88

1.78

-.10
Total Calgary

1.56

1.30

-.26

**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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