Market Pressure? Weekly/Monthly City of Calgary Real Estate Update for Single Family and Condominium (single family includes all detached and attached homes that are not condominium)

3961 Homes for Sale 

2018 Homes Sold in the last 30 days

1.96 Months Worth of Inventory

Slightly more than half of the inventory has sold in the last 30 days

Market conditions border a Seller’s market

Vacancy of Homes on the Market 21%+/-

Tenanted Homes on the Market: 13%+/-

Weekly Median List Price : $438,950

Weekly Median Sale Price : $426,250

Weekly Median Square Footage: 1337

Weekly Median Days on Market : 28

Weekly Median List to Sale Price Ratio : 98%

Calgary’s real estate market is bordering a Seller’s market. People moving into Calgary increased last year by over 19,000 and is still growing, that’s almost 1600 a month. That could create market pressure with families most likely looking for 500+ homes to live per month whether buying or renting. More people are staying in Calgary than leaving. Price your home accordingly and you should have no problem selling in this market.

September’s Real Estate Market in Calgary

Single Family Homes (all homes that are not a condo) 

• Sales peaked in May at 1760 that month, and as of the end of September at 1354

• Active properties peaked in May at 3311, and as of September they have tapered of to 2789

• Median prices have been fairly steady since March in and around the $450,000’s

 Overall,  the single family home market is gradually increasing in supply vs. demand. As at the end of September, we had 2.05 months worth of inventory  comparing to the biggest shift in April when we had 1.49 months of inventory. Last year at the end of September the market showed over 3.09 worth of inventory on the market. Still not a bad market for this time of year!

Apartment Condos

• Sales peaked in April at 429 that month, and as of the end of September we had 324 sales
• Active properties peaked in May at 634, and as of the end of September it slowed to 324
• Median prices were fairly consistent around the $260‘s for the year, but an increase in September showed the best median sales price at $273,500. 

Overall,  the apartment condo market is showing to be fairly steady. As at the end of September, we had 2.10 months worth of inventory  comparing to the biggest change in July when we had 1.93 months of inventory. Last year at the end of September the market showed over 3.86 months worth of inventory on the market. Not a bad market for apartments!

Townhome Condos

• Sales peaked in May at 365 that month, and as of the end of September we had 245 sales
• Active properties peaked in May at 518, and as of the end of September it slowed to 450
• Median prices wavered around the low $300’s for the year with the ceiling in May at $312,000, as of September it slightly decreased from May’s high of $310,000.

Overall,  the townhome market is gradually increasing in supply vs. demand. As at the end of September, we had 1.83 months worth of inventory  comparing the biggest shift in May and July when we had 1.37 months of inventory. Last year at the end of September the market showed over 2.63 worth of inventory on the market. Still not a bad market for townhomes this time of year!

Market Balancing? Weekly City of Calgary Real Estate Update for Single Family and Condominium (single family includes all detached and attached homes that are not condominium)

4142 Homes for Sale 

498 Homes Sold in the last 7 days

2.13 Months Worth of Inventory

Slightly more than half of the inventory will sell in the next 30 days

Market conditions border a Seller’s market

Vacancy of Homes on the Market 20%+/-

Tenanted Homes on the Market: 13%+/-

Median List Price : $412,450

Median Sale Price : $405,700

Median Square Footage: 1267

Median Days on Market : 23

Median List to Sale Price Ratio : 98%

Calgary’s real estate market is bordering a Seller’s market, Sales are going down and inventory is going up. The inventory is low for the Calgary area. It is still a good time to sell!

Market Balancing? Weekly City of Calgary Real Estate Update for Single Family and Condominium (single family includes all detached and attached homes that are not condominium)

4082 Homes for Sale 

522 Homes Sold in the last 7 days

2.06 Months Worth of Inventory

Slightly more than half of the inventory will sell in the 

next 30 days

Market conditions have slightly balanced

Vacancy of Homes on the Market 21%+/-

Tenanted Homes on the Market: 13%+/-

Median List Price : $399,949

Median Sale Price : $354,900

Median Square Footage: 1154

Median Days on Market : 23

Median List to Sale Price Ratio : 98%

Calgary’s real estate market is leaning into a balanced market, slighty favouring the Seller. Approximately 1100 homes less for sale thanthis time last year, which is still causing demand for homes in the market. Homes coming onto the market is increasing marginally to 2.06 months worth of inventory, we will have more of a balanced market when we see this increase to 2.50. This could change by the end of September. Still a good market to sell your home in if you are thinking of moving. 

Weekly City of Calgary Real Estate Update for Single Family and Condominium (single family includes all detached and attached homes that are not condominium)

3997 Homes for Sale 

404 Homes Sold in the last 7 days

1.91 Months Worth of Inventory

Slightly less than half of the inventory will sell in the next 30 days

Market conditions have slightly leaned toward a sellers market

Vacancy of Homes on the Market 21%+

Tenanted Homes on the Market: 13%+

Median List Price : $419,900

Median Sale Price : $414,500

Median Square Footage: 1280

Median Days on Market : 27

Median List to Sale Price Ratio : 97%

Calgary’s real estate market is slightly leaning in favour of the seller at this time, mainly for the lack of homes available to buy. Inventory available last year this time was over 5000 homes, this September we have under 4000. If the number of months inventory rises to 2.5 months, we will have more of a balanced market. This could change within a few short weeks if we saw a thousand extra homes come onto the market. If you want to sell, price it right! Don’t miss out!