monthly statistics

Detached prices stabilize in soft market

The segment of Calgary’s housing market with the greatest influence on the overall market is showing signs of pricing stability. The detached benchmark price totaled $503,400 in September, which is 3.3 per cent below last year, but the second consecutive month at this price level.
While overall economic conditions remain soft, for now the detached sector is demonstrating some steadiness in terms of pricing.
“The decline in demand has caused many to anticipate steeper price declines for detached homes,” said CREB® chief economist Ann-Marie Lurie. “That hasn’t happened in large part because detached supply levels haven’t climbed as sharply as many expected. There was a limited amount of supply in the overall market when this cycle began, and while levels did rise and remain somewhat elevated, they were well below previous highs.”
The level of detached new listings also eased compared to last year, helping push down year-over-year inventory levels for the second consecutive month.
“Consumers are really starting to come to terms with the current environment,” said CREB® president Cliff Stevenson. “Most sellers have adjusted their expectations at the same time that many buyers are realizing the price of a home is influenced by factors like location, supply in specific price ranges and condition of the property.”
Residential inventory levels totaled 5,877 in September, five per cent higher than last year, due to gains in both the apartment and attached sectors. City-wide months of supply neared four months, but ranged from a low of three months in the detached sector to a high of eight months in the apartment sector.
Sales were equally inconsistent, improving by four percent in the detached market while declining by 23 percent in the apartment sector. Nonetheless, in every category, sales activity year-to-date sales activity has declined over levels recorded last year and remains below long-term averages.
The resale apartment market has recorded large inventory gains and a sharp pull-back in sales. This, combined with additional competition from new builds, is resulting in steeper price adjustments in this sector.
Condominium apartment prices totaled $274,700 in September, 0.1 per cent below last month and 6.8 per cent below last years’ price.
Click on the following link to see the Calgary Housing Stats: september-2016-monthly-housing-statistics
or Click on following link to see the Regional Housing Stats: september-2016-regional-monthly-stats-package
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CALGARY REGIONAL HOUSING MARKET STATISTICS – May 1, 2013

April 2013 Monthly Housing Statistics
 
APRIL 2013
Click Here to download the full .pdf of the housing market statistics report!
The benchmark price of single- family homes reached a new high of $452,900 in April, as market conditions that favour the seller finally drove prices above the unadjusted peak in 2007.
“It’s really encouraging to see that the Calgary market remains strong,” said Becky Walters, CREB® President. “It’s reassuring to both buyers and sellers to see that this area is outperforming many parts of the country.”
Single-family sales totaled 1,611 in April, nearly two per cent higher than the previous year, but year-to-date figures are similar to levels recorded in 2012. Sales growth in the first part of the year was stifled by a shortage of new listings and inventory. However, the year-over-year increase in new listings of 5.4 per cent helped support sales growth in April.
“Declining selection in the lower price range and market conditions that favour the seller in the overall single-family market has resulted in a boost in demand in the condominium market and surrounding towns,” said CREB® Chief Economist Ann-Marie Lurie. “Inventory levels declined across all of these segments. However, surrounding towns remain in balanced territory, as they experienced the effect of previously elevated inventory levels.”
Click Here to download the full .pdf of the housing market statistics report!