Calgary's Real Estate Market

February 2012 Trend in Calgary Market

Fri, 02 Mar 2012 17:41:00 GMT

Single family sales and condominium townhouse sales were the bright lights in the city of Calgary, while condo apartments continue to lag in volume of sales. There were 1,284 single-family homes sold in February 2012, a 10.9-per-cent increase over last- year figures, and a 5.6-per-cent year-to-date increase. Condo townhouses gained 11.4 per cent year-over-year in February sales.

Condominium apartment sales totaled 248 for February 2012, an 11.7-per-cent decline over last-year figures. Despite the 12.7-per-cent year-over-year decline in new listings, inventory levels rose to 1,031 units.

Fewer new city listings are coming to the market, with a year- over-year decline of 10.2 per cent. Inventories also fell by 8.5 per cent over last year’s figures, with a total inventory of 4,736 for the month. The opposite is true in the surrounding towns, where listings recorded a year-over-year improvement of 12.1 per cent and no significant change in inventories.

Within the city of Calgary, the decline in new listings, combined with improving sales, contributed to reduced inventory levels, pushing absorption rates for single-family and condominium townhome markets into balanced territory. However, the condominium apartment inventories rose and sales activity weakened, keeping the market in buyer’s territory.

Calgary Real Estate Board

See our Market Watch at www.GreaterCalgaryRealEstate.com

Market Slow But Steady!

Sat, 07 Jan 2012 15:35:00 GMT

Single family homes found median and average sale prices lose momentum in December compared to November, which is very normal for the Calgary market, but slightly gained when looking at last years December.

Condominiums made a slight gain in the median and average sale price from last December 2010 and our previous month of November 2011.

Overall, very slight changes in the amount of sales and median/average sale prices. Calgary trends to do much better in the Spring market which seems to begin in January and often lasts until May or June. Last years market showed a 9% increase from December 2010 to May 2011, all within 6 months.

Year to Date 2011

Fri, 09 Dec 2011 16:14:00 GMT

Single Family Inventory/Sales & Median Sales Prices

Home prices have been steady since the summer months holding a median single family home price of $400,000. Our winter market has less sales happening, which has been Calgary’s trend for many years past. The market has been able to stay on track with buyers being able to take advantage of the low interest rates. Including condo’s and single family homes, we are just under 5900 active listings with just over 50 days averaging to sell on the market. November’s MLS Metro sold about 26% of its inventory.

We Hope You Have A Merry Christmas and a Great 2012!!!

Year over Year Sales Still Up in October!

Fri, 04 Nov 2011 16:29:00 GMT

In October there were a total of 988 sales for the Single Family Home market. The difference from October 2010 of 101 homes. Last month there were 48 more SF homes to sell.

As for the Condo market, there were 368 condos to sell, more sales than in last years October by 61 units, but less than last month by 60 units.

The good news is that Calgary had a longer momentum and an increase in sales, so far, in this years market before it started to slightly trend downward. This downward trend before the snow months is very typical. Our next drive in the market usually begins again late January to February.

September 2011 Calgary Real Estate Market

Wed, 05 Oct 2011 16:08:00 GMT

The median price has just started to claw back as did the market to last year, although the number of sales increased. The average sale prices were also pretty similar to last years stats. The noted difference seems to be the longer lasting Spring market compared with last years, but is now on its downward trend as typical with most years in the Calgary market.