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