Posts Tagged ‘Townhouse’

November 2013 Calgary Real Estate Market Snapshot

Monday, December 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 entrenched is a Sellers Market with limited supply and strong sales.

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 dropped substantially this month.  In my opinion this is of no concern and is simply a seasonal trend.  We will see a further decrease in December and then in Jan it should start to increase again.   Very few people want to list their home during the holiday season.

Inventory 

October   2013   

November    2013   

Change
Single Family Home

2705

2171

-534
Condo  Townhouse

444

380

-64
Condo  Apartment

692

605

-87
Total

3841

3156

-685

 

Calgary Sales: 

Sales in November declined at almost the same as rate that inventory dropped.  Traditionally this time of year we start to see sales slowing so again I’ll call it a seasonal trend.

Sales

October    2013  

November    2013  

Change  

%   Change

Single Family Home

1336

1006

-330

-24.7
Condo  Townhouse

280

228

-52

-18.9
Condo Apartment

337

305

-32

-9.4
Total

1953

1539

 -414

-21.1

 

 Calgary Real Estate Sales Prices:  

In November, 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

October  2013

Benchmark Price

November  2013  

 Benchmark   Price  

Change  

Single Family Homes

468,000

470,600

+2,600
Condo Townhouse

302,200

305,700

+3,500
Condo  Apartment

276,100

279,600

+3,500

 

Sales Prices “Year to Date”   

Year to date prices have increased in all categories.

Sales Prices Dec  31 2012  Benchmark Price 

November 2013

Benchmark Price   

Change  

%   Change

Single Family Homes

434,800

470,600

+35,800

+8.2%
Condo Townhouse

284,100

305,700

+21,600

+7.6%
Condo  Apartment

248,700

279,600

+30,900

+12.4%

 

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 November our absorption changed but only marginally. We are still in a strong seller’s market position.  In the starter home price range we are still seeing lots of competing offers.

Absorption Rate  

October  2013  

November 2013  

Change  

Single Family Homes

2.02

2.15

+.13
Condo Townhouse

1.58

1.67

+.09
Condo  Apartment

2.05

1.98

-.07
Total Calgary

1.97

2.05

+.08

**Please note that these numbers do change on a community basis and more so for towns.  If you would like to find stats or absorption rate for  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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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

**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.

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.

 

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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.

 

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Calgary’s January 2013 Real Estate Market Snapshot

Sunday, February 3rd, 2013

In an effort to keep you informed about what is really happening in the Calgary Real Estate Market you will find a summary of some key areas with a few short comments.  In summary the Calgary housing market is starting off 2013 on a positive note.   All numbers below are from the Calgary Real Estate Board’s Monthly Stats package for Realtors.

Calgary Listing Inventory:  Inventory levels for all categories increased throughout January.  Seeing our inventory increase is very normal at this time of year as many people wait until the New Year instead of listing over the holidays.  This trend of increasing inventory should continue for the next few months.        

Inventory 

December  2012    

January 2013   

Change

Single Family Home

1859

2075

+216

Condo    Townhouse  

310

369

+41

Condo    Apartment 

553

640

+87

Total

2722

3084

+362

 

Calgary Sales:  Sales increased in all categories this month with except apartment condos.  This is a very normal trend as people were focused on Christmas in December and put off their home buying until the New Year.  The key here is that although sales increased 13.6% the number of listings on the market also increased by 13.3%  leaving us in roughly the same market position.          

Sales

Dec   2012

Jan 2013  

Change

% Change

Single   Family Home

745

879

+134

+18.0%

Condo  Townhouse    

119

147

+28

+23.5%

Condo   Apartment

219

204

-15

-6.9%

Total

1083

1230

+147

+13.6

 

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 increased slightly for single family homes and apartment condos and decreased slightly for townhouses.    

 

Sales Prices

Dec  2012

Benchmark Price

Jan 2013

 Benchmark Price  

Change

Single   Family Homes

434,800

436,900

+2,100

Condo   Townhouse  

284,100

283,400

(700)

Condo  Apartment    

248,700

251,300

+2,600

 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 3.0 to 4.0 indicates a Balanced Market

Above 4.0 indicates a Buyer’s Market.

Absorption Rate  

Dec 2012

Jan 2013  

Change

Single   Family Homes

2.50

2.36

(.14)

Condo   Townhouse  

2.61

2.51

(.1)

Condo  Apartment    

2.53

3.14

+.61

Total   Calgary

2.51

2.51

=

 

As you can see above we are in a Seller’s market for all categories except apartment condos. 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 me.  If you are thinking of Selling the first half of the year might be best as I expect our inventory to substantially increase by mid-year.

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 pass it on.  

Gord

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Snapshot of Calgary’s Real Estate Market for December 2012

Wednesday, January 2nd, 2013

Following is a short summary of what is happening in the Calgary Real Estate Market.   All data is taken from the December 2012 Calgary Real Estate Boards monthly Stats package for Realtors. you will also find my comments on each area. Overall the Calgary housing market slowed for the month of December which is very typical for the holiday season.   

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 most people like to wait until after Christmas and into spring to list their homes.  I believe that starting this week we will see inventory start to rise again.       

Inventory 

November  2012      

December  2012 

Change

Single Family Home

2586

1859

(727)

Condo    Townhouse  

426

310

(116)

Condo    Apartment 

819

553

(266)

Total

3831

2722

(1109)

 

Calgary Sales: 

Sales decreased in all categories this month although it’s important to point out that we still beat last year’s sales by 5.6%.   This is a very normal trend as people are focused on Christmas and put off their home buying until the New Year.  The key here is that although sales decreased by 25.6% the number of listings on the market decreased by 29.0% meaning the market is still very strong.         

Sales

Nov  2012

Dec 2012

Change

% Change

Single   Family Home

1006

745

(261)

(25.9%)

Condo  Townhouse    

198

119

(79)

(40.0%)

Condo   Apartment

253

219

(34)

(13.4%)

Total

1457

1083

(374)

(25.6%)

 

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 again.  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 and rental properties.   

  

Sales Prices

Nov  2012 Benchmark Price  

Dec  2012 Benchmark Price  

Change

Single   Family Homes

433600

434,800

+1,200

Condo   Townhouse  

282800

284,100

+1,300

Condo  Apartment    

248,000

248,700

+700.

 

As we are at the end of another year here are the YTD numbers

Sales Prices

Dec  2011  Benchmark Price  

Dec  2012 Benchmark Price  

Change

% Change

Single   Family Homes

399,900

434,800

+ 34,900

+8.7%

Condo   Townhouse  

272,700

284,100

+11,400

+4.2%

Condo  Apartment    

236,000

248,700

+12,700

+5.38%

 

 

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 3.0 to 4.0 indicates a Balanced Market

Above 4.0 indicates a Buyer’s Market.

Absorption Rate  

Nov 2012

Dec  2012

Change

Single   Family Homes

2.57

2.50

(.07)

Condo   Townhouse  

2.15

2.61

+ .46

Condo  Apartment    

3.24

2.53

(.71)

Total   Calgary

2.63

2.51

(.12)

 

As you can see above we are in a Seller’s market for all categories. 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. 

Gord, Eric & Brent

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June 2012, Calgary Housing Market Snapshot

Tuesday, July 3rd, 2012

Want to know what’s really happening in the Calgary Real Estate Market.  Below you will find a summary of some key areas with a few short comments.  All stats are taken from the Realtors June stats package from the Calgary Real Estate Board.

Calgary housing market continues to perform!

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

Inventory 

May  2012   

June  2012 

Change
Single   Family Home

3842

3817

-25
Condo  Townhouse    

675

693

+18
Condo  Apartment   

1222

1205

-17
Total  

5739

5715

-24

 

Calgary Sales: 

Sales decreased slightly in all categories this month.   In my opinion this was expected as we are following the same trend as last year when our sales peaked in June.  Total Residential sales however were 16% higher for the first half of this year compared to last year.

Sales

May  2012

June 2012

Change

% Change

Single Family Home

1710

1609

-101

-5.9
Condo    Townhouse  

289

253

-36

-12.4
Condo Apartment

386

340

-46

 -11.9
Total

2385

2202 

         -183 -7.7

 

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 increased marginally this month.  In my opinion this is a very healthy market with good activity level and prices showing modest increases.

Sales Prices May  2012 Benchmark Price   

June  2012 Benchmark Price  

Change

Single Family Homes

427,500

430,800

+3,300
Condo Townhouse  

277,000

278,000

+1,000
Condo    Apartment  

245,400

246,300

+900

The absorbtion rate is the number of listings divided by the number of sales in the last month.  absorbtion rates are as follows:

Single Family Homes: 2.24

Townhouses: 2.33

Apartment Condos: 4.23

This tells me that single family homes and townhouses are moving quicker than apartment style condos.

Overall the market is now in a balanced market position  It is interesting as there are still many communities that are in a buyer’s market position as they have a higher inventory.  If you want to know how your community sit’s let me know.

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

If you find this info useful please pass on to others who will benefit.

Gord, Eric & Brent

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