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 |
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 |
| 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 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.
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