Posts Tagged ‘Canadian Real Estate Association’

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

January 2012 Calgary Housing Statistics

Wednesday, February 1st, 2012

What’s happening in the Calgary Real Estate Market? 

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

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

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

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

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

Calgary Sales: 

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

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

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

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

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

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

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

Gord, Eric & Brent