Posts Tagged ‘housing statistics calgary’

Calgary Real Estate Market Snapshot, March 1, 2015

Tuesday, March 3rd, 2015

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows 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. A simple way to keep up to date and ahead of most!

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

Want to see stats specific to your Community? Register for our Market Report at http://www.calgaryareasolds.com/

Find out what your Neighbor’s home sold for – Register for our Market Report at http://www.calgaryareasolds.com/

 

Calgary Real Estate Stats have changed.

The Calgary Real Estate Board just changed the operating system for Realtors and with that the monthly Stats categories have changed as well. Here is the categories.

Old Categories New Categories What’s changed
Single Family Home Detached Does not include attached homes
Condo Townhouse Attached Now includes Attached Homes
Condo Apartment Apartment Condos Same

 

What this means is simply that attached homes are now taken out of the Single family category and lumped in with the townhouse category. There are a few other classification changes but they are very small and won’t show in the stats. This will affect a few of the numbers below.

 

Oil Prices and the impact on the Calgary Real Estate Market.

I am certainly not going to predict the future here as I am not an expert in the Oil Industry. What I find interesting is that in what I have been reading there seems to be two sides

  • Optimists are predicting that we will be back to at least the 60 – 70 dollar oil by mid year
  • The pessimists are saying that we will be low forever or years anyway

 

My Stats summary below will show you the facts of what has happened to date and some short term predictions. Please note that the market shifted very fast and when oil prices rebound the market can shift very quickly in the other direction. The big question is when? And if you have the answer to that please share it with me.

 

Now onto the Stats Market Snapshot

 

Calgary Listing Inventory: Yes, listings are up again in all categories this month. In Feb we usually see an increase from January and will typically see listing numbers increase in the next 3 to 4 months.

 

Inventory Jan 2015 Feb 2015 Change
Detached 2359 2830 +471
Attached 950 1190 +240
Apartment 1117 1276 +159
Total City of Calgary 4426 5296 +870

 

Calgary Sales:

While we are down considerably from last year’s sales the sales increased substantially over January. What I noticed is that first 2 weeks of Feb were similar to January the last 2 weeks picked up.

Sales Jan 2015 Feb 2015 Change % Change
Detached 535 739 +204 +38.1%
Attached 190 261 +71 +37.3%
Apartment 155 217 +62 +40.0%
Total City of Calgary 880 1217 +337 +39.3%

 

 

Calgary Real Estate Sales Prices:

Prices in all categories decreased this month. The largest decrease is in Apartment condos which have the highest inventory compared to sales. This trend will continue as long as the absorption rates stay where they are.

Sales Prices Jan 2014 Benchmark Price Feb 2015 Benchmark Price Change
Detached 518,600 516,000 -2,600
Attached 356,000 354,600 -1,800
Apartment 298,700 296,000 -2,700
Total City of Calgary 459,100 456,300 -2,800

 

Sales Prices “Year to Date”

Year to date prices – Again, all categories decreased but none substantially.

Sales Prices Dec 31, 2014 Benchmark Price Feb 2015 Benchmark Price Change

$

% Change
Detached 518,600 516,000 -$2,600 -.5%
Attached 356,200 354,600 -$2,200 -.61%
Apartment 300,400 296,000 -$4,400 -1.45%
Total City of Calgary 459,500 456,300 -$3,200 -.7%

 

  

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 Drives prices down
Balanced Market Between 2.8 to 4.0 Prices typically remain stable
Seller’s Market <2.8 Drives prices up

 

*** Absorption Rate:

The absorption rate decreased for all categories. What this means is that the relation to sales over inventory decreased. This change put detached homes back into a balanced market while all other categories stayed in a Buyers Market.

Absorption Rate Jan 2015 Feb 2015   Change
Detached 4.41 3.83 -.58
Attached 5.0 4.56 -.44%
Apartment 7.21 5.88 -1.33%
Total City of Calgary 5.03 4.35 -.68%

 

**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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June 2014 Real Estate Market Snapshot

Monday, June 2nd, 2014

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.   A simple way to keep up to date on the Market.  The Calgary Real Estate market continues to show signs of a change in direction bringing good news for home buyers.

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

 

Want to see stats specific to your Community?  Register for our Market Report at http://www.calgaryareasolds.com/

 

Calgary Listing Inventory: Inventory levels increased this month in all categories. This is what normally happens at this time of year as many people like to wait till spring to list their home. This year Sellers are also seeing a good opportunity to sell so I predict that listings are going to continue to increase. One interesting thing to note is that many sellers coming to the market are hoping to cash in on the seller’s market and are listing their homes substantially higher than the market will pay. Home’s that are listed at or slightly above market values are still often getting competing offers and are selling in the first day or two while sellers fishing for above market value are just adding to our inventory of listing.

Inventory April 2014   May 2014   Change
Single Family Home 2445 2947 +502
Condo Townhouse 445 576 +131
Condo Apartment 898 1051 +153
Total 3788 4574 +786

 

Calgary Sales:

Sales in May increased in every category over last month which is to be expected at this time of year.  One reason for this increase is that with more inventory buyers have more selection. Trends show that next month we should see a flattening or a slight decline in sales over this month.

Sales April 2014   May 2014   Change % Change
Single Family Home 1736 2027 +291 +17%
Condo Townhouse 360 410 +50 +14%
Condo Apartment 449 511 +62 +14%
Total 2545 2948 +403 +15.8%

 

 

Calgary Real Estate Sales Prices:

In May, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase for a few more months as we move from a seller’s market to a more balanced market.

Sales Prices April 2014   Benchmark Price May 2014   Benchmark Price Change
Single Family Homes 496,700 504,300 +7,600
Condo Townhouse 316,700 321,400 +4,700
Condo Apartment 291,700 295,400 +3,700

 

Sales Prices “Year to Date”

Year to date prices – same as above, Prices have increased in all categories. Good news if you are a homeowner and not so good news for those wanting to get into the market.

Sales Prices Dec 31 2013 Benchmark Price May 2014   Benchmark Price Change$ % Change
Single Family Homes 472,200 504,300 +32,100 6.8%
Condo Townhouse 307,100 321,400 +14,300 4.7%
Condo Apartment 278,600 295,400 +16,800 6.0%

 

 

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: For the second month in a row our absorption rate has increased. This indicates to me that the market is starting to change and we are moving towards a balanced market. Please note that we are so deep in a Seller’s market that it will take us a few more months of this trend to reach a balanced market state. My prediction is that this trend will continue and by July or August we will be approaching a balanced market – sooner for apartment condos.

Absorption Rate April 2014   May 2014   Change
Single Family Homes 1.41 1.45 +.04
Condo Townhouse 1.24 1.40 +.16
Condo Apartment 2.0 2.06 +.06
Total Calgary 1.48 1.55 +.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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Calgary Real Estate Market snapshop updated Feb 3, 2014

Monday, February 3rd, 2014

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.   A simple way to keep up to date on the Market.  The Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales and I do not see that changing anytime soon.

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

Below is a summary of some key areas with a few short comments.  The Calgary housing market started off the year on a strong note with sales 11.1% higher than in January 2013.  We are still in a very strong seller’s market position.

Calgary Listing Inventory:  Inventory levels increased slightly this month which is very normal for this time of year as the holidays are behind us.  There is still a shortage of homes on the market and the good ones are selling very fast.

Inventory 

December   2013  

January   2014   

Change
Single Family Home

1515

1671

+156
Condo  Townhouse

242

277

+35
Condo  Apartment

479

577

+98
Total

2236

2525

+289

 

Calgary Sales: 

Sales in January increased in every category over last month which is to be expected at this time of year.  It is also important to note that sales in January were 17% higher than sales in January  2013.  I believe that as we get more listings on the market sales will continue to rise as there is a pent up demand.

Sales

December   2013 

January   2014   

Change  

%   Change

Single Family Home

744

974

+230

+31.0%
Condo  Townhouse

179

206

+27

+15.0%
Condo Apartment

221

260

+29

+18.0%
Total

1144

1,440

 +296

+26%

  

Calgary Real Estate Sales Prices:  

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

Sales Prices

December 2013

Benchmark Price

January 2014

 Benchmark   Price  

Change  

Single Family Homes

472,200

476,700

+$4,500
Condo Townhouse

307,100

308,100

+$1,000
Condo  Apartment

278,600

280,600

+$2,000

  

Sales Prices “Year to Date”   

Year to date prices – same as above have increased in all categories.  Good news if you are a homeowner and not so good news for those wanting to get into the market.

Sales Prices Dec  31 2013  Benchmark Price 

January 2014 Benchmark Price 

Change

$  

%   Change

Single Family Homes

472,200

476,700

+$4,500

+1%
Condo Townhouse

307,100

308,100

+$1,000

–
Condo  Apartment

278,600

280,600

+$2,000

+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:   The numbers are still going down which is putting us in more of a seller’s market position and I don’t see that changing anytime soon.  In the starter home price range we are still seeing lots of competing offers.

Absorption Rate  

December 2013   

January 2014  

Change  

Single Family Homes

2.03

1.71

-.32
Condo Townhouse

1.35

1.34

-.1
Condo  Apartment

2.17

2.21

+.04
Total Calgary

1.96

1.75

-.21

**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.

 

Please feel free to pass this on. Gord, Eric & Brent

 

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Calgary Real Estate Market Snapshot for November 2012

Sunday, December 2nd, 2012

Prices in Real Estate are simply a function of supply and demand,  Below you will find a summary of some key areas such as inventory(supply) and Sales (demand) with a few short comments along with what happened to prices this month.  All numbers were taken from the November stats package prepare for Realtors by the Calgary Real Estate Board.

The Calgary housing market stayed steady for the month of November 2012.

Calgary Listing Inventory:  Inventory levels for all categories decreased again in November.  Seeing our inventory decrease is very normal at this time of year as many people like to wait until after Christmas and into spring to list their homes.

Inventory 

Oct  2012    

November  2012 

Change
Single Family Home

3114

2586

-528
Condo    Townhouse

506

426

-80
Condo    Apartment

985

819

-166
Total

4605

3831

-774 or 16.8%

 

Calgary Sales: 

Sales decreased in all categories this month.   This is a very normal trend as people start to focus on Christmas and put off their home buying until the New Year.  The key here is that although sales decreased by 12.5% the number of listings on the market decreased by 16.8% meaning the market is still very strong.  Also, it is interesting to note that total sales Kaikki mainitut pelinvalmistajat ovat eurooppalaisia ja myos kaikki taman sivun casinot toimivat euroopassa eurooppalaisella lisenssilla. in Calgary were 8.3% higher than in November 2011.

Sales

Oct  2012

Nov  2012

Change

% Change

Single   Family Home

1174

1006

-168

-14.4%
Condo  Townhouse

219

198

-21

-9.6%
Condo   Apartment

272

253

-19

-7.0%
Total

1665

1457

 -208

-12.5%

 

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

As the chart below demonstrates the benchmark price for all categories increased this month with the largest increase again in Single Family homes.   In my opinion this is a very healthy market with good activity level and prices showing modest increases. We are however starting to see competing offers in some situations mostly in inner city single family homes.

 

Sales Prices Oct   2012   Benchmark Price  

Nov  2012 Benchmark Price  

Change

Single   Family Homes

433,300

433600

$300
Condo   Townhouse

279,000

282800

$3,800
Condo  Apartment

247,000

248,000

$1,000

 

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

A rate of below 3.0 indicates a Seller’s Market

A rate of between 3.0 to 4.0 indicates a Balanced Market

A rate of above 4.0 indicates a Buyer’s Market.

Absorption Rate  

Oct  2012  

Nov 2012

Change

Single   Family Homes

2.65

2.57

-.8
Condo   Townhouse

2.31

2.15

-.16
Condo  Apartment

3.62

3.24

-.38
Total   Calgary

2.76

2.63

-.13

 

As you can see above Apartment condos are still in a balanced market place while single family homes and townhouses are now in a seller’s market.

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, 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 it on.

Have an awesome day!

Gord, Eric & Brent

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CMHC’s Calgary Housing Market Outlook

Monday, November 5th, 2012

The Fall 2012 edition of CMHC”s Housing Market Outlook – Calgary is now available and can be accessed by clicking on the link below.

http://www.cmhc-schl.gc.ca/odpub/esub/64339/64339_2012_B02.pdf

This report show some great info on the Calgary Housing Market.  If you have any questions about Calgary Real Estate feel free to contact me.

 

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What’s happening in the Calgary Real Estate Market!

Wednesday, August 1st, 2012

Here is a snapshot of what is really happening in the Calgary Real Estate Market.  Real estate are based on supply and demand so the key numbers we look at here are Inventory, Sales, absorbtion Rate and of course Prices which is simply a reflection of the above categories.   All numbers below are from the Calgary Real Estate Boards Monthly stats package produced for realtors.

Many of you are aware that the Mortgage rules recently changed and everyone was wondering what effect that would have on the market.  Well the biggest change was that 30 year amortization are no longer available as the maximum is now 25 years.  As you will see from the stats below these changes did not have much impact so far in Calgary.

Calgary Listing Inventory:  Inventory levels for all categories decreased slightly in July.  Last year this was the time when our inventory started increasing rapidly so seeing a slight decline is a good sign.

Inventory 

June  2012 

July  2012 

Change
Single   Family Home

3817

3646

-171
Condo  Townhouse    

693

623

-70
Condo  Apartment   

1205

1161

-44
Total  

5715

5390

-325

 

Calgary Sales: 

Sales decreased in all categories this month.   In my opinion this was expected and is more of a seasonal adjustment as we are following the same trend as last year when our sales peaked in June.   Last year sales in June were 2200 and in July were 1936 – a 13.6% decrease. Total Calgary residential sales for July were 21.3% higher than in 2011.

Sales

June 2012  

July 2012

Change

% Change

Single Family Home

1609

1386

-223

-16.1
Condo    Townhouse  

253

239

-14

-5.8
Condo Apartment

340

311

-29

         -9.3
Total

2202

1936

 -266       -13.7

 

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

As the chart below demonstrates the benchmark price for all categories stayed flat this month.  In my opinion this is a very healthy market with good activity level and prices showing modest increases.

 

Sales Prices June 2012   Benchmark Price   

July  2012 Benchmark Price  

Change

Single Family Homes

430,800

432400

+1200.
Condo Townhouse  

278,000

277400

-600.
Condo    Apartment  

246,300

247600

+1300.

Absorption Rate  (Months of Inventory) – Yes a new category!

The absorption rate is the inventory divided by the number of sales in the last month.

What does this mean you might ask?

An absorption rate of below 3.0 indicates a Seller’s Market

An absorption rate of between 3.0 to 4.0 indicates a Balanced Market

An Absorption rate of above 3.0 indicates a Buyer’s Market.

 

Absorption Rate   June  2012   

July  2012   

Change

Single Family Homes

2.37

2.63

+.26
Condo Townhouse  

2.73

2.61

-.12
Condo    Apartment  

3.54

3.73

+.19
Total Calgary

2.60

2.78

+.18

 

Therefore overall we are in a balanced market.  Please note that these numbers do change on a community basis.  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 anytime.

If you would like the full stats package just let me know.

Gord, Eric & Brent

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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

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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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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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