Consider: location home style – condo apartment, condo townhouse, single family home number of bedrooms number of bathrooms features – garage, yard, basement suite inclusions –,
Top 11 September Stats Calgary Real Estate
After experiencing strong gains in the first half of the year, activity in Calgary has eased in September with a rise in inventory and a drop in sales.
Last month, inventory for all property types (including detached, attached and condos) surged to 6,861 units, up 16.6 per cent from 5,881 units recorded a year ago, according to the Calgary Real Estate Board’s (CREB) latest data, published on Monday.
“The recent rise in inventories is preventing further price recovery as sales activity has moderated over recent months,” says Ann-Marie Lurie, CREB chief economist, in a statement.
“This does not come as a surprise as sales activity is expected to remain modest by historical standards until more substantial economic improvements take hold,” she adds.
A total of 1,462 properties sold in Calgary last month — a 1.15 per cent decrease from the 1,479 homes sold in September 2016.
Although activity last month seems like a pullback, Lurie says the recent trends are balancing out the higher than expected gains seen in the first half of 2017.
Here are 11 more key stats from CREB’s latest market data release explaining how Calgary’s housing market balanced out in September:
1. Thanks to strong activity in the first half of 2017, Calgary’s year-to-date sales was seven per cent above last year’s levels but still remained below the long-term average by 11 per cent.
2. New listings totaled 3,266 units, up 9.74 per cent from 2,976 new listings posted a year ago. CREB president David P. Brown says a reason for the increase may be due to more stability in the market, which has prompted sellers who were on the sidelines to list their homes.
3. Both apartment and attached-style properties saw the highest inventory on record for the month of September.
4. The North and Southeast areas of the city have reached record-high inventory levels. CREB attributes this gain to new construction activity in these districts.
5. The benchmark price of a home in Calgary was $441,500, down 0.2 per cent from August 2017 but roughly one per cent above last year’s price.
6. In the condo sector, the benchmark price was $263,700, roughly three per cent below 2016 levels and 12 per cent under peaks reached in 2014. According to CREB, this sector of the market continues to struggle with an abundance of supply causing prices to continue dropping.
7. City-wide months of supply was 4.69 months — a surge of 18 per cent compared to a year ago.
8. Months of supply in the condo sector sits at 8.42 months, up roughly two per cent from a year ago.
9. Out of all property types covered, detached homes saw the lowest months of supply at 3.79 months, though this was still up 26 per cent from a year ago.
10. The benchmark price of a detached home was $508,900, a one per cent jump from September 2016.
11. In the attached sector, the benchmark price of a home was $336,000 — a 1.54 per cent increase from September 2016.
Danny is an experienced and results-oriented Real Estate Consultant with exceptional communication & interpersonal skills. Strong analytical, problem-solving & organizational abilities. Energetic, ent....
Latest Blog Posts
WIth the market in Calgary being saturated with listings, here are a few tips to make your house outstanding from others for a showing:1.Clean the House Daily to keep it to minimal work when
BUYING YOUR FIRST PROPERTY? LET US HELP YOU WITH THE PROCESS. First-time Home Buyers Tax CreditTax savings working for you!What is the first-time home buyers' tax credit (HBTC)?The HBTC is a-