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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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February 2012 Calgary Real Estate Market Report

Friday, March 2nd, 2012

Real Estate in Calgary and specifically in Calgary Northwest has picked up the pace substantially.   If you are looking for information specific to your home I would be happy to offer a free no obligation home evaluation.  

 All the numbers below are taken from the Calgary Real Estate Board’s statistics package for Realtors.  Below you will find a summary of some key areas with a few short comments.   

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   Jan 2012    Feb  2012  Change
Single Family Home 2980 3093 +113
Condo’s 1449 1643 + 194
Total 4430 4736 +306

 

Calgary Sales: 

Calgary Single Family home and Condo sales saw substantial increases in February.         

Sales January 2012 February  2012 Change
Single Family Home 764 1284 + 520
Condo’s 305 453 + 148
Total 1078 1737 + 659

 Calgary Real Estate Sales Prices:  Please note that this section has changed so the numbers look much different from last month.  In the past the numbers I have always used was the median price as this was in my opinion more accurate than simply using an average.  The Canadian Real Estate Association along with the Calgary Real Estate Board have now introduced the MLS Home Price Index which they believe is more accurate than using the Median price and will show less false increases and decreases.  For the purpose of this I will use their benchmark price – what an average home would sell for.  As you can see by the numbers all categories of housing in Calgary increased in the month of February which makes sense to me as the inventory is up only a little and our sales are up substantially.

Sales Prices January Benchmark Price Feb 2012 Benchmark Price   Change
Single Family Homes 422600 427,000 +$4,400
Condo Townhouse 287,900 288,600 + $700.
Condo Apt Style 237,500 242,900 +$5,400

Overall the market has changed from a strong buyers market to a balanced Market and when I look community by community many popular communities are in a seller’s market position now.

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

Gord, Eric & Brent

403-861-2256

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December 2011, Monthly Housing Stats Report

Monday, January 2nd, 2012

What”s happening in the Calgary Real Estate market?

  The stats below are taken from information supplied to realtors through the Calgary Real Estate Board.  As Real Estate is all about supply and demand that is what this article will focus on :

  • Our Inventory
  • Our Sales
  • and of course Prices

  As we are at a year-end I am providing both monthly and then yearly results.

Calgary Listing Inventory:  Inventory levels for both Single Family homes and Condo’s decreased substantially this month.   This movement is normal for this time of year as many people do not want their home on the market during the holiday season.  Expect that starting January our listing inventory will start to creep upwards.

Inventory   November 2011  December  2011 Change
Single Family Home 3761 2761 Decrease of 1000
Condo’s 1676 1287 Decrease of 389
Total 5437 4048 Decrease of 1389

 Calgary Listing Inventory year to date.  Very Similar numbers compared to last year.  

Inventory  Dec 2010  December  2011 Change
2712 2761 49
Condo’s 1429 1287 -142
Total 4141 4048 -97

Calgary Sales: 

Calgary Single Family home sales and Condo sales for the month of December declined slightly from November.  Again the holiday season can account for this trend.         

Sales November 2011 December 2011 Change
Single Family Home 962 722 -240
Condo’s 391 310 -81
Total 1353 1032 -321

Calgary Sales Year to Date

Sales for both single family homes and condos showed an increase over 2010, a very positive sign moving forward.

Sales Total  2010  Total  2011 Change % Change
Single Family Home 12,091 13,186 1095 9.06%
Condo’s 5,176 5,382 206 3.98%
Total 17267 18,568 1301 7.53%

Calgary Real Estate Sales Prices:  In 2011 Single family home prices decreased by $9,175 while the median price of condo’s increased by $5,875.  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 download free action game for girls below to really see what’s happening.

Sales Prices November Median Prices December  Median Prices Change
Single Family Homes $402,925 $393,750 -$9,175
Condo’s $252,000 $257,875 $5,875

 *** Calgary Real Estate Sales Prices Year to Date

As you can see from the chart below the Median Sales price of both single family homes and condos remained almost constant this year.  We had a bit of a roller coaster with prices bouncing up and down but they are not showing a single direction.

   End of 2010 End of 2011 Change % Change
Single Family Homes  $389,000 $393,750 $4,750 1.2%
Condo’s  $260,000 $257,875 -$2.125 -.82%

 

Forecast for 2012

On the 18th of January the Calgary Real Estate Board put’s on their annual forecast breakfast where they bring in experts and share the forecasts for 2012.  As soon as the forecasts are available I will summarize for you.  

If you have any questions about this summary, or would like a full copy of the December Stats package please contact us. 

Gord, Eric & Brent

Check out our new Market Snapshot – a monthly look at active and sold listings in your community.

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October Monthly Housing Stats Report at a glance!

Wednesday, November 2nd, 2011

Trying to make sense of the Calgary Real Estate market?

Below I have reported key indicators on what is really happening in the Calgary Real Estate market.  All numbers are taken from the Monthly Stats report for Realtors prepared by the Calgary Real Estate Board.

Here is October’s summary.

Calgary Listing Inventory:  Inventory levels for Both Single Family homes and Condo’s decreased this month.  Inventory levels have moved both up and down so it is not showing a definite direction.

Inventory September 2011 October Change
Single Family Home 4753 4486 (267)
Condo’s 2008 1935 (73)
Total 6761 6421 (340)

 Calgary Sales: 

Calgary Single Family home sales for the month of October showed a slight decrease.  Sales for Condos,  however decreased by about 15% from September.   Sales numbers dropping is very normal at this time of year as the peak selling season is typically April through June.  Interestingly, sales for single family homes and condos beat sales levels for October 2010 and we are on track to have higher sales in 2011 than in 2010.       

Sales September 2011 October Change
Single Family Home 1036 988 (48)
Condo’s 429 368 (61)
Total 1465 1356 (109)

 

Calgary Real Estate Sales Prices:    For October Median prices for Single Family homes decreased by $5.000 while condo’s increased by $2,625.00 over September.  We seem to be bouncing up and down every month but overall prices are remaining fairly stable.      

Sales Prices September Median Prices October Change
Single Family Homes $400,000 $395,000 (5,000)
Condo’s $260,000 262,625 +2,625

 The median sales price of Single Family homes in January was 390,000 so we are up $5,000 for the year.

The Median sales price of Condos in January was $255,000 so we are up $7250 for the year.

Overall we are still in a buyer’s market where buyers have lots of selection and buyers although buying are looking for value.

If you have any questions about this summary please contact us.   

Gord Piper, Brent Wilcox & Eric Dennis

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September 2011, Real Estate Market Snapshot

Sunday, October 2nd, 2011

Tired of sorting through all the reports and want a snapshot of whats happening in the Calgary Real Estate Market.  All data below has been taken from the Calgary Real Estate Boards monthly September 2011  Stats package for Realtors.

When trying to understand the market all we really need to know is supply and demand – the inventory and sales.  Of course you might want to know about prices too but what happens with prices is dependent on inventory and sales.  Below you will find this helpful information with a few of my own comments.

Calgary Listing
Inventory: Inventory levels for both Single Family homes and Condo’s increased only marginally this month and going  up and down so it is not showing a definite direction.

Inventory August
2011		 September
2011 		Change
Single Family Home 4573 4753 +180
Condo’s 1997 2008 +11
Total 6570 6761 +191

Calgary Sales:

Calgary sales for the month of September showed small decreases
for single family homes and for condos. Sales numbers dropping is very normal at this time of year as the peak selling season is typically April through
June.  Interestingly, sales for single family homes in September were 10.6% higher than in Sept 2010 and sales for Condo’s were 17.2% higher than in 2010.     

Sales August
2011		 September
2011 		Change
Single Family Home 1106 1036 (70)
Condo’s 468 429 (39)
Total 1574 1465 (109)

Calgary Real Estate Sales Prices:

For September Median prices for Single Family homes decreased by $2,251 while condo’s increased by $5,000 over August.  We seem to be bouncing up and down every month but overall prices are remaining stable.

Sales Prices August
Median Prices 2011		 September Median Prices Change
Single Family Homes $402,251 $400,000 ($2251)
Condo’s $255,000 $260,000 +$5,000

Overall we are still in a buyer’s market – however a slightly stronger Buyers market than last month with inventory going up and sales going down our turnover rate has increased.

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

Free no obligation Home Evaluation

Gord Piper & Brent Wilcox

CIR Realty

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What’s happening in the Calgary Real estate market?

Saturday, September 3rd, 2011

This report gives you information on all the important indicators on whats happening in Calgary.  Real time, Real Estate Market stats at a glance for the Month of August 2011.  These stats  break the market down into what’s important and eliminates all the extra. Data is from the August Calgary Real Estate Boards Monthly stats package.

Calgary Listing
Inventory: Inventory levels for Both Single Family homes and Condo’s stayed very flat this month.  This is generally a good number however with sales levels it would balance the market a little more if our inventory dropped slightly.

Inventory July
2011		 August
2011 		Change
Single Family Home 4630 4573 (57)
Condo’s 2003 1997 (6)
Total 6633 6570 (63)

Calgary Sales:

Calgary sales for the month of August showed marginal decreases for single family homes and a slight increase for condos. Sales numbers dropping is very normal at this time of year as the peak selling season is typically April through June.  Interestingly
sales in August 2010 were 865 Single family homes and 468 condos for a total of
1333 showing an increase of 18% this year over last.    

Sales July  2011 August
2011		 Change
Single Family Home 1153 1106 (47)
Condo’s 453 468 +15
Total 1606 1574 (32)

Calgary Real Estate
Sales Prices: Median prices for Single Family homes decreased by $6,749 and condo’s decreased by $14,000 in August.  To me this is not alarming as the direction is not a trend.  We seem to bounce up and down every month but overall prices are remaining fairly stable.

Sales Prices July
Median Prices 		August 2011 Change
Single Family Homes $409,000 $402,251 ($6749)
Condo’s $269,000 $255,000 ($14,000)

Overall we are still in a buyer’s market – this month we moved slightly more in favour of buyers as our inventory stayed flat while sales did show a slight decrease therefore increasing our absorption rate.

Check out our new technology – we can now send you a custom monthly report including, active listing, sold listings, days on market and much more –with easy
to understand graphs all based on your home by the postal code you enter. All
you have to do is sign up and once we approve you will get your own personal Market Snapshot. Simply Click here to sign up: www.calgaryareasolds.com

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 & Brent & Eric

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July 2011, Calgary Real Estate Stats at a glance

Friday, August 5th, 2011

Tired of trying to figure out whats happening in the Calgary Real Estate Market.   Below you will find a summary of some key indicators with a few short comments that will give you a clear indication of how the Calgary Real Estate market is performing.  This information is taken from the Calgary Real Estate Boards monthly stats package for realtors and is provided for you by Gord Piper and Associates.  If you would like to see the entire report contact us.

Calgary Listing Inventory:  Both Single Family homes and condo’s decreased marginally this month.     

Inventory June 2011 July 2011 Change
Single Family Home 4744 4630 Decrease of 114
Condo’s 2023 2003 Decrease of 20
Total 6767 6633 Decrease of 134

 

Calgary Sales: 

Calgary sales for the month of July showed decreases for both single family and condos. This is very normal as the peak selling season is typically April through June.  Of interest, even though sales numbers decreased in July our sales were still substantially higher than last July.     

Sales June 2011 July  2011 Change
Single Family Home 1398 1153 Decrease of 245
Condo’s 581 453 Decrease of 98
Total 1979 1606 Decrease of 373

 

Calgary Real Estate Sales Prices:    Prices for Single Family homes decreased slightly while condos increased very slightly this month.  Both seem to be remaining fairly flat with slight ups and downs but not heading in any one direction.    

Sales Prices June Median Prices July Median Prices Change
Single Family Homes $417,250 $409,000 Decrease of $8,250
Condo’s $265,000 $269,000 +$4,000

 

Overall we are still in a slight buyers market – this month we moved slightly more in favour of buyers as our inventory decreased only marginally while sales did show a decrease therefore increasing our absorption rate.

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 Piper  & Brent Wilcox

CIR Realty

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June 2011, Calgary Real Estate Stats at a glance

Sunday, July 3rd, 2011

Want to know  instantly whats happening in the real estate market in Calgary.  Below you will find a summary of some key areas with a few short comments.  All stats are taken directly from the Calgary Real Estate Boards monthly stats package for June 2011.  These highlights are all you need to stay informed.  Provided to you courtesy of Gord Piper and Associates.

Calgary Listing Inventory:  As shown below our inventory in Calgary Metro increased marginally this month.   

Inventory May  2011 June 2011 Change
Single Family Home 4616 4744 128
Condo’s 2092 2023 (69)
Total 6708 6767 59

 Calgary Sales: 

Calgary sales for the month of June showed increases in both single family and condos. Of interest, this is the first month all year where condo sales beat the number of condo sales in the same month of last year.  Single family homes have done this for a few months After years of research and testing the new system is designed to provide learner drivers with all the training, resources and qualified bronx driving schools instructors required to become a licensed driver. now.    

Sales May 2011 June 2011 Change
Single Family Home 1313 1398 85
Condo’s 503 581 78
Total 1816 1979 163

 

Calgary Real Estate Sales Prices:    Prices for Single Family homes and for condos decreased very slightly this month.  It’s interesting that for the last 3 months prices of single family homes have been almost flat at 420,000, 423,000 and 417,250.   Condos have stayed between $260,000 and $270,000 for the last 3 months.   This makes sense as our inventory is holding steady and sales are strong.  

Sales Prices May  Median Prices June Median Prices Change
Single Family Homes $423,000 $417,250 ($5750)
Condo’s $269,250 $265,000 ($4,350)

 Overall we are still in a slight buyers market. 

If you have any questions about this summary, or would like to receive the entire stats package or have other Real Estate questions feel free to contact us.  

Gord Piper and Brent Wilcox 

CIR Realty

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May 2011, Calgary Real Estate Stats

Friday, June 3rd, 2011
Calgary Real Estate Board Stats for the month of May have been published and here is our summary  of some key areas with a few short comments. 

Calgary Listing Inventory:  As shown below our inventory in Calgary Metro increased by 308 listings this month.   This is very typical to see listings rise as spring arrives.  

Inventory  April  2011 May 2011 Change
Single Family Home 4395 4616 +221
Condo’s 2005 2092 +87
Total 6400 6708 +308
 Calgary Sales: 

Overall Calgary sales for the month of May increased slightly from April.  Single family home sales increased while condo sales decreased ever so slightly.  Interesting enough sales of Inner city homes increased by almost 4%    

Sales April 2011 May 2011 Change
Single Family Home 1217 1313 +96
Condo’s 535 503 -32
Total 1752 1816 +64
 Calgary Real Estate Sales Prices:    Prices for Single Family homes increased by $3,000 this month while condos increased by $8,500.  This makes sense as our inventory is holding steady and sales are remaining steady.  

Sales Prices April Median Prices May Median Prices Change
Single Family Homes $ 420,000 $423,000 +$3,000
Condo’s $260,000 $268,500 +$8,500
  

Absorption Rate:  When looking at Real estate stats it is imperative to look at the absorption rate.

Absorption rate is simply the total inventory divided by the number of sales in the last month.  An absorption rate of between 2.3 to 4.0 months reflects a balanced market while a higher rate reflects a buyer’s market and therefore a lower rate reflects a seller’s market.  From the chart below you can see that we are still in a slight buyers market.

 May Absorption Rate Chart

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

Gord Piper  & Brent Wilcox                                                                                                                                                     

CIR Realty

403-861-2256

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Novenmber 2010 Calgary Real Estate Statistics!

Wednesday, December 1st, 2010

Another month is over giving us the pleasure to provide the following information – a summary of key numbers  from  the Calgary Real Estate Boards November statistics Package.  For Community Stats please click here!

Calgary Listing Inventory:  As noted below the inventory continues to decrease.   View Calgary Listings here!

Inventory  October November Change
Single Family Home 4528 3869 Decrease of 659
Condo’s 2042 1882 Decrease of 160
Total 6570 5751 Decrease of 819

 

Calgary Sales:  Sales are very similar to October’s sales but are again down from last year’s sales.   This trend is very normal for this time of year as many people do not want to make a move in the middle of winter.  

Sales October November Change
Single Family Home 958 888 Decrease  of 70
Condo’s 310 310 =
Total 1309 1198 Decrease of 70

 

Calgary Real Estate Sales Prices :   For this summary,  I will focus only on the Median Sales Price as the average can be skewed by Realtors selling more of less million dollar homes and is a better reflection of the market.   Interesting that the median price went up this month.  Speculating again – when buyers realize that the prices may be heading back up some buyers who have held off may jump in and buy now.

Sales Prices October Median Price November Median Price Change
Single Family Homes $387,900 $399,900  Increase of $12,000
Condo’s $255,000 $253,300 Decrease of  $1700

 

Summary:  November’s numbers look very close to October’s and although we are down from last year there continue to be indications that things may start to pick up again.  The median price of a single family home increased by $12,000 this month.

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

Thinking about a move in 2011 – now is the time to start preparing so that you get top dollar for your home!  We would be happy to arrange a pre home sale consultation.

Interested in more info about specific  communities in Calgary visit our friends at calgaryarea.com

Gord Piper and Brent Wilcox

Century 21, The Professionals Ltd.

www.gordpiper.com

403-861-2256

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