Calgary Housing Market Trends

Marnie Campbell's complete blog provides real estate market trends in and around Calgary, including single-family home and condo statistics, house prices, and the latest real estate news.

Found 11 blog entries about Calgary Housing Market Trends.

No question that the decline in oil prices over the last several months have hurt Alberta’s economy, but the encouraging news is that house prices are holding firm. The sky hasn’t fallen. Buyers are still buying and sellers are still selling.  It’s not all sunshine and roses, but it’s not all gloom either. Sales in Calgary were down 25 per cent in May compared to last year, however prices have held relatively steady. Within the city of Calgary, housing prices totaled $454,100 in May, a 0.55 per cent increase over April and an almost 1 per cent increase compared to last year.

At the beginning of 2015 there was a higher number of homes for sale relative to the number of buyers in the city, causing more than a five month supply of inventory.

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Calgary’s real estate market seemed to go through a bit of an adjustment period in April. Last month saw sellers adjusting their expectations of the market which was apparent by the slightly lower benchmark price (for detached homes) declining 0.7 per cent from March. The number of new listings in April was down 18 per cent from the previous year, and the number of sales was down 22 per cent from last year. The median price has dropped 2 per cent to $420,000 while the average sale price is down by 1.5 per cent to $468,411.

Calgary Realt Estate Housing Market Stats - April 2015

 

“With fewer buyers making purchase decisions and improved selection for resale, new home and rental property, sellers have been either adjusting their expectations on price or delaying their plans about when to list their

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The Calgary Real Estate Board released their March 2015 statistics and it shows that the city’s inventory of available homes to purchase has increased and the benchmark price has eased (-3.82% since March 2014), conditions consistent with a buyers’ market. This means if you’re looking to buy a home there are more houses available to choose from, potentially at a lower price, allowing you to explore more options in your hunt to find your dream home.

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Calgary Home Prices Have Declined

“Typical home prices have declined by 0.59% in the first quarter of 2015, compared to the fourth quarter of 2014. The sales to new listings ratio also dropped to 41% and months of supply averaged 4.01 for the quarter. This is a significant change from one year ago when

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The Calgary Real Estate Board February 2015 market statistics indicate something we can all see in the city by the number of increased for sale signs. Economic uncertainty at the beginning of the year resulted in a 37% increase in homes for sale in the month of January compared with the same period in 2014. Increased supply and buyer unease meant that demand couldn’t keep up with supply so last month we started to see more price reductions. February however had only a 9% year over year growth in new listings so the panic to list in Calgary has taken a bit of a breath.

 Is Now the Time to Buy Calgary Real Estate“While housing supply levels continue to be higher than we have seen in this market for some time, they remain below February 2008 record highs of nearly 7,000 units” said CREB® chief

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House sales in certain Calgary communities and specific real estate price ranges have been more than warm this spring. March saw declining new listings in single family homes in addition to brisk sales. An increase in housing demand has come from an attractive economy, increased immigration to the city and a tight rental market. This resulted in the lowest level in inventory Calgary has seen since 2006.

Early spring has favoured the seller with many homes selling at or above list price and with multiple offers. This year 2,377 properties sold in April, and 529 of them for more than list price. The unadjusted single-family benchmark price totaled $496,700 in April, a nearly 10% increase over April 2013 and up slightly over 1% from March figures.

For

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February 2014 saw the number of listings for single family homes decrease by almost 5 per cent with 89 fewer listings than the same month last year. The first time home buyers trying to get into starter homes priced below $300,000 are particularly having a hard time with low inventory.

Despite the low inventory single family homes sales increased by 1.9 per cent over the previous year with 1,230 sales. The benchmark price for single family homes in Calgary in February was $482,800 an increased of 9.11 per cent over the previous year. Average days on the market dropped to 29 last month from 37 in February 2013, a decrease of 20.67 per cent.

Condo apartments and condo townhomes actually had an increase in listings in February with a 26.71 per cent and

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January was a strong start to the year as Calgary saw a 15 per cent increase in residential real estate sales and a 12.34 per cent increase in the average home price compared to the same period in 2012. In fact, it was the best  January for homes sales since 2008.

The average sale price of a single family home in Calgary for the month of January increase by 12.74 per cent to $496,579 compared to January sales in 2012. The average sale price of condo apartments saw an increase of 13.09 per cent to $280,273, while condo townhomes rose by 7.61 per cent to $320,590.

Calgary had 1,230 total MLS sales for the month of January, up 15.17 per cent over last year. Single family home sales were up 15.20 per cent to 879, while condo apartment sales were up 13.97

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August 2012 Calgary Housing Market Trends

According to the Calgary Real Estate Board, single family house prices in Calgary increased 4.5 per cent, in part due to the slight decrease in new listings. New listings of single family homes were down almost 14 percent this August compared with August of last year. As a result of the decrease in new single family listings, many Calgary home buyers looked to condominiums or areas surrounding Calgary.

Residential home sales in areas around Calgary like Airdrie, Cochrane and Okotoks were very brisk with an increase of 42 per cent in August compared to last year. Although Calgary sales were not as active as surrounding areas, there was still a 10 per cent increase during the same period.  The greatest number of sales in Calgary for the month of August

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July 2012 Calgary Housing Market TrendsThe Calgary housing market statistics for July 2012 show steady growth despite cooling residential property sales activity in other Canadian markets like Vancouver and Toronto. Canada's two largest cities have seen some big housing market swings in 2012, but Calgary's positive migration and an increase in confidence in the economy have helped the city maintain a balanced market.

According to the Calgary Real Estate Board, MLS residential homes sold in Calgary increased by 21.22 per cent in July 2012 from 2011. The average sale price for the month of July also increased to $422,680 from $412,532 in 2011, an increase of 2.46 per cent. New listings in Calgary decreased by 5.22 per cent in July compared to last year, giving the city a 3 month supply. This

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June 2012 Calgary Housing Market Trends

For the first half of 2012, residential sales in the Calgary market increased 16 percent over the same period last year. With a slight decrease in inventory and more normal levels of sales activity the Calgary market is headed towards a balanced market.

The healthy market has been helped along by the low interest rates and migration of new residents moving to Calgary. The city’s 2012 civic census indicated Calgary had 29,289 new residents over the past year.

 According to the Calgary Real Estate Board, MLS residential sales in Calgary increased by 12.12 percent in June from a year ago and the average sale price increased by 3.61 percent to $441,418. The number of days on the market had a significant change, dropping from 5 days to sell in June 2011

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