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Posts Tagged ‘calgary real estate’

November 2013 Monthly Real Estate Market Snapshot

Thursday, October 31st, 2013

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

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

Calgary Listing Inventory: Inventory levels for all single family homes dropped a little while all townhouses and apartment condos remained almost flat this month.

Inventory	September 2013	October 2013	Change
Single Family Home	2789	2705	-84
Condo Townhouse	450	444	-6
Condo Apartment	683	692	+9
Total	3922	3841	-81

Calgary Sales:

Sales in October were almost the same as in September. Traditionally this time of year we start to see sales slowing.

Sales	September 2013	October 2013	Change	% Change
Single Family Home	1354	1336	-18	-1.3
Condo Townhouse	245	280	+35	+1.4
Condo Apartment	324	337	+13	+.04
Total	1923	1953	+30	+.15

Calgary Real Estate Sales Prices:

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

Sales Prices	September 2013 Benchmark Price	October 2013 Benchmark Price	Change
Single Family Homes	463,700	468,000	+4,300
Condo Townhouse	299,100	302,200	+3,100
Condo Apartment	272,900	276,100	+3,200

Sales Prices “Year to Date”

Year to date prices have increased in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	October 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	468,000	+33,200	+7.6
Condo Townhouse	284,100	302,200	+18,100	+6.3%
Condo Apartment	248,700	276,100	+27,400	+11.1%

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

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

Absorption Rate: Throughout September our absorption rate decreased in all categories putting the market even more in favour for sellers. Especially in the starter home price range we are starting to see lots of competing offers.

Absorption Rate	September 2013	October 2013	Change
Single Family Homes	2.06	2.02	-.04
Condo Townhouse	1.84	1.58	-.26
Condo Apartment	2.1	2.05	-.05
Total Calgary	2.04	1.97	-.07

**Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just let me know. If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us.

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

October 2013, Calgary Real Estate Market Snapshot

Monday, September 30th, 2013

Want to know what’s really happening in the Calgary Real Estate Market. The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate. In summary the Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales. It is important to note that for the first time in more than 6 months the absorption rate increased above 2.0 so we are seeing a slight shift.

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

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

Inventory	August 2013	September 2013	Change
Single Family Home	2791	2789	-2
Condo Townhouse	417	450	33
Condo Apartment	690	683	-7
Total	3898	3922	24

Calgary Sales:

Sales decreased marginally in all categories except townhouses which saw a small increase this month. This is very normal as sales typically start slowing at this time of year. To look at another perspective even though sales slowed this month they were 19% higher than in August 2012.

Sales	August 2013	September 2013	Change	% Change
Single Family Home	1517	1354	-163	-10.7
Condo Townhouse	282	245	37	13.6
Condo Apartment	397	324	-73	-18.4
Total	2196	1923	-273	-12.4

Calgary Real Estate Sales Prices:

In September, the benchmark price stayed almost flat for all categories with apartment condo’s showing the largest increase.

Sales Prices	August 2013 Benchmark Price	September 2013 Benchmark Price	Change
Single Family Homes	464,700	463,700	-1,000.
Condo Townhouse	298,500	299,100	600
Condo Apartment	270,600	272,900	2,300

Sales Prices “Year to Date”

Year to date prices have increased in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	September 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	463,700	28,900	6.65
Condo Townhouse	284,100	299,100	15,000	5.27
Condo Apartment	248,700	272,900	24,200	9.73

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

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

Absorption Rate: Throughout September our absorption rate increased in all categories. This could be the start of a shift as this is the first time in several months that the absorption rate has exceeded 2.0. Of course we have a long way to move still to move into a buyers market.

Absorption Rate	August 2013	September 2013	Change
Single Family Homes	1.84	2.06	.22
Condo Townhouse	1.47	1.84	.37
Condo Apartment	1.74	2.1	.36
Total Calgary	1.78	2.04	.26

Interest Rates are on the rise – if you are even considering making a move get to your bank and get a mortgage commitment locked in at today’s rates. It looks like they may even go higher.

Tags:Calgary Condos, calgary real estate, Calgary Real Estate Stats, Condominium, sell my home calgary, Townhouse
Posted in Blog, Real Estate Board's Statistics | Comments Closed

Sept 2013 Calgary Real Estate Market Snapshot

Monday, September 2nd, 2013

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

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

Inventory	July 2013	August 2013	Change
Single Family Home	2917	2791	-126
Condo Townhouse	407	417	10
Condo Apartment	768	690	-78
Total	4092	3898	-194

Calgary Sales:

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

Sales	July 2013	August 2013	Change	% Change
Single Family Home	1575	1517	-59	-3.6%
Condo Townhouse	295	282	-13	-.44%
Condo Apartment	398	397	-1	–
Total	2268	2196	-72	-3.2%

Calgary Real Estate Sales Prices:

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

Sales Prices	July 2013 Benchmark Price	August 2013 Benchmark Price	Change
Single Family Homes	461,600	464,700	3,100
Condo Townhouse	294,500	298,500	4,000
Condo Apartment	267,600	270,600	3,000

Sales Prices “Year to Date”

Year to date prices have increased in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	August 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	464,700	29,900	6.9%
Condo Townhouse	284,100	298,500	14,400	5.1%
Condo Apartment	248,700	270,600	21,900	8.8%

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

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

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

Absorption Rate	July 2013	August 2013	Change
Single Family Homes	1.85	1.84	-.01
Condo Townhouse	1.37	1.47	.1
Condo Apartment	1.93	1.74	-.19
Total Calgary	1.80	1.78	-.02

In Other News:

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

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

Gord Piper

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

Aug 2013 Calgary Real Estate market snapshot

Thursday, August 1st, 2013

Want to know what”s really happening in the Calgary Real Estate Market. The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate. In summary the Calgary housing market is still very strong and we are moving even deeper into a Sellers Market.

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

Calgary Listing Inventory: Inventory levels for all categories decreased again throughout July. If you have been following my reports the Inventory levels had been increasing a little every month until last month. This may very well be due to the flooding disaster in Calgary where some listings were taken off the market.

Inventory	June 2013	July 2013	Change
Single Family Home	3199	2917	-282
Condo Townhouse	489	407	-82
Condo Apartment	896	768	-128
Total	4584	4092	-492

Calgary Sales:

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

Sales	June 2013	July 2013	Change	% Change
Single Family Home	1638	1575	-63	-3.8%
Condo Townhouse	317	295	-22	-.7%
Condo Apartment	362	398	36	1.0%
Total	2317	2268	-49	-2.1%

Calgary Real Estate We used another online defensive driving school school for our other son. Sales Prices: Please note that we are now using the Benchmark price for this comparison.

In July, the benchmark price increased slightly for all categories except townhouses which saw a small drop. This is simply a reflection demand outpacing supply and will continue until the inventory starts to increase faster than sales.

Sales Prices	June 2013 Benchmark Price	July 2013 Benchmark Price	Change
Single Family Homes	459,700	461,600	1900
Condo Townhouse	295,000	294,500	(500)
Condo Apartment	264,000	267,600	3600

Sales Prices “Year to Date”

Year to date prices have increased in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	July 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	461,600	26,800	6.1%
Condo Townhouse	284,100	294,500	10,400	3.66
Condo Apartment	248,700	267,600	18,900	7.6%

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

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

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

Absorption Rate	June 2013	July 2013	Change
Single Family Homes	1.95	1.85	-.1
Condo Townhouse	1.54	1.37	-.17
Condo Apartment	2.48	1.93	-.55
Total Calgary	1.98	1.80	-.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.

Tags:Calgary, Calgary Home Prices, calgary real estate, Calgary Real Estate Stats, Condominium, Demand, Northwest Calgary Real Estate Prices, Townhouse
Posted in Blog, Property Values, Real Estate Board's Statistics | Comments Closed

116 Silver Springs Drive NW, Calgary Alberta T3B 3G4

Monday, July 22nd, 2013

A little sweat equity will go along way here! MLS listing C3578405

Opportunity knocks, original solid bungalow in the desirable mature community of Silver Springs. This 3 bedroom, 3 bath bungalow comes with a double garage and is ready for your decorating ideas. Located close to Silver Springs park and tennis courts, Silver springs plaza and transit. Upstairs you will find the L shaped living http://www.phpaide.com/forum.php?langue=fr room & dining room, Kitchen, bath, master bedroom with ensuite and 2 other bedrooms. Downstairs you will find a large recreation room with wet bar, pool table (included), library, bedroom and 3 piece bath. Furnace, HWT and shingles were replaced around 2008. Complete video tour avail at:

http://www.youtube.com/watch?v=EXgyoe-R2AQ

Tags:Calgary MLS Listing, calgary real estate, nw calgary, sell my home calgary, Silver Springs Home for sale
Posted in Blog, Listings | Comments Closed

301, 4506 4th Street NW Calgary Ab. T2K 1A2

Thursday, July 18th, 2013

Just listed a great condo in Highland Park. Only $269,900

Adult Building 50+ Pride of ownership shows in this lovely 2 bedroom & 2 bath corner unit with over 1000 square feet. You will love the open layout and the extra windows for sunlight. Living room provides newer carpet and is bright and features a sliding door to your private balcony. Large kitchen with newer countertops, Island, pantry and lots of cupboards and countertop space. Master bedroom has a 3 piece ensuite, and second bedroom is a good size. Features Insuite laundry and storage room, heated tandem garage is aprox 30 feet deep allowing for 2 small cars or a larger car and plenty of extra storage space. The building provides a passenger elevator lift and visitor parking. Great central location with easy access to downtown, amenities, transit and shopping.

Check out the full video at

301, 4506 4th Street NW Calgary Ab. T2k 1A2

Tags:Calgary MLS Listing, calgary real estate, moving to calgary
Posted in Blog, Listings | Comments Closed

June 2013, Calgary Real Estate Market Snapshot

Tuesday, July 2nd, 2013

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

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

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

Inventory	May 2013	June 2013	Change
Single Family Home	3311	3199	-112
Condo Townhouse	503	489	-14
Condo Apartment	929	896	-33
Total	4743	4584	-159/-3.4%

Calgary Sales:

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

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

Sales	May 2013	June 2013	Change	% Change
Single Family Home	1766	1638	-128	-7.2%
Condo Townhouse	365	317	-48	-13.1%
Condo Apartment	413	362	-51	-12.3%
Total	2544	2317	-227	-8.9%

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

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

Sales Prices	May 2013 Benchmark Price	June 2013 Benchmark Price	Change
Single Family Homes	456,900	459,700	+2800
Condo Townhouse	292,100	295,000	+2900
Condo Apartment	263,600	264,000	+400

Sales Prices “Year to Date”

Year to date prices have increased in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	June 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	459,700	+24,900	+5.7%
Condo Townhouse	284,100	295,000	+10,900	+3.8%
Condo Apartment	248,700	264,000	+15,300	+6.2%

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

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

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

Absorption Rate	May 2013	June 2013	Change
Single Family Homes	1.87	1.95	+.08
Condo Townhouse	1.37	1.54	+.17
Condo Apartment	2.25	2.48	+.23
Total Calgary	1.86	1.98	+.12

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

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

Gord, Eric, Brent & Jason

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

May’s Calgary Real Estate Market Snapshot

Monday, June 3rd, 2013

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

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

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

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

Calgary Sales:

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

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

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

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

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

Sales Prices “Year to Date”

Year to date prices have increased in all categories.

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

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

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

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

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

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

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

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

Gord, Eric & Brent

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

April’s Calgary Real Estate Market Snapshot

Tuesday, April 30th, 2013

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

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

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

Calgary Sales:

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

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

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

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

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

Sales Prices “Year to Date”

Once again we saw increases in all categories.

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

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

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

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

Yes, we are in a Sellers Market

As you can see above we are in a Seller’s market for all categories and it is getting stronger in favour of sellers. Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just let me know.

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

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

Gord, Eric & Brent

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

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”

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

Tags:Calgary Condos, calgary real estate, calgary real estate prices, Calgary Real Estate Stats, Condominium, Housing, Northwest Calgary Real Estate Prices
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The Gord Piper & Associates Real Estate Blog

Posts Tagged ‘calgary real estate’

November 2013 Monthly Real Estate Market Snapshot

October 2013, Calgary Real Estate Market Snapshot

Sept 2013 Calgary Real Estate Market Snapshot

Aug 2013 Calgary Real Estate market snapshot

116 Silver Springs Drive NW, Calgary Alberta T3B 3G4

301, 4506 4th Street NW Calgary Ab. T2K 1A2

June 2013, Calgary Real Estate Market Snapshot

May’s Calgary Real Estate Market Snapshot

April’s Calgary Real Estate Market Snapshot

Calgary’s March Real Estate Market Snapshot

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