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Monday, April 1, 2019 - March housing update

  Media release: Oversupply persists despite improved sales activity for affordable product City of Calgary, April 1, 2019 ? March saw a modest decline in city wide sales activity compared to last year. However, sales have been rising for more affordable product in the detached and attached sectors. Shifts in the lower end of the market have not outweighed easing across the higher priced product. First-quarter sales dropped to 3,108 units. This is nine per cent below last year and 28 per cent ... Full Article...
posted in Calgary housing statistics at Mon, 01 Apr 2019 13:48:56 -0600

Sunday, February 17, 2019 - Fascinating facts in Calgary's housing market

Largest Calgary community by population (2018 Census)Panorama Hills (25,861) For comparison, here are a few of Calgary?s smallest communities by population (2018 Census)Eagle Ridge (311), Bel-Aire (376), Roxboro (396), Mayfair (430), Queen?s Park Village (430) Highest sales month (total residential)*March 2007 (3,259 units) Highest sales year (total residential)*2006 (27,198 units) Lowest sales month (total residential)*December 1995 (603 units) Lowest sales year (total residential)*1995 ...
posted in Calgary housing statistics at Sun, 17 Feb 2019 15:19:34 -0700

Wednesday, January 2, 2019 - December 2018 housing stats for Calgary & area

 

Media release: Job market weakness and lending restrictions a common thread in 2018’s housing market

City of Calgary, January 2, 2019 –

As oversupply continues in Calgary’s housing market, December prices eased by one per cent compared to last month and are over three per cent below last December. 

“Persistent weakness in the job market and changes in the lending market impacted sales activity in the resale market this year,” said CREB® chief economist Ann-Marie Lurie.

“This contributed to elevated supply in the resale market, resulting in price declines.”

December sales totalled 794 units, a 21 per cent decline over the previous year. Overall year-to-date sales in the city totalled 16,144 units. This is a 14 per cent decline over 2017 and nearly 20 per cent below long-term averages.

Inventory levels in December sat at 4,904 units. This is well above levels recorded last year and 30 per cent above typical levels for the month. Elevated resale inventories in 2018 were caused by gains in the detached and attached sectors.

Throughout 2018, the months of supply remained elevated and averaged 5.2 months. This contributed to the annual average benchmark price decline of 1.5 per cent. Price declines occurred across all product types and have caused citywide figures to remain over nine per cent below the monthly highs recorded in 2014.

“Both buyers and sellers faced adjustments in expectations this year. Sellers had to compete with more choice in the resale market, but also the new-home market,” said CREB® president Tom Westcott.

“With less people looking for a home, it became a choice between delaying when to sell or adjusting the sale price. However, buyers looking for more affordable product did not find the same price adjustments that existed in some of the higher price ranges.”

More information on the 2018 housing market will be released at CREB®’s 2019 Forecast Conference & Tradeshow (www.crebforecast.com) on Jan. 30, 2019.

 

HOUSING MARKET FACTS

Detached

Detached sales declined across all districts in 2018. With citywide sales of 9,945 units, activity remains 21 per cent below typical levels for the year.
Detached inventories were higher than last year’s levels for each month of the year, including December. Slow sales caused the market to be oversupplied through most of 2018.
Detached benchmark prices totalled $481,400 in December, a one per cent decline over last month and a three per cent decline over last year. Overall, 2018 prices declined by 1.5 per cent compared to last year.
Prices have eased across most districts in 2018. The largest declines this year have occurred in the North East, North West and North districts.

 

Apartment

Apartment sales totalled 2,663 units in 2018. While the decline is less than other product types, levels are 22 per cent below long-term averages.
The apartment condominium sector has struggled with oversupply for almost three years and 2018 was no exception.
However, supply has been easing, as inventories this year averaged 1,584 units, one per cent below last year’s levels.
Despite slowing supply growth, the market remained oversupplied, causing further price declines. In December, benchmark prices were $251,500, over two per cent below last year. Annually, prices have declined by nearly three per cent for a total decline of 14 per cent since 2014.
Price declines this year have ranged from a high of nearly six per cent in the East district to a low of two per cent in both the City Centre and North West districts.

 

Attached

Declines for both row and semi-detached product resulted in 2018 attached sales of 3,536 units, a 15 per cent decline over the previous year and 14 per cent below long-term averages.
Slower sales activity prompted some pull-back in new listings, but this was limited to the row sector. Row new listings declined by four per cent and semi-detached new listings rose by nearly 15 per cent in 2018.
Despite some adjustments to new listings, inventory levels remained elevated, keeping the market in buyers’ market territory and putting downward pressure on prices.
In December, the semi-detached benchmark price totalled $397,500. This is a monthly and year-over-year decline of 0.8 and 3.8 per cent, respectively. Recent price declines have caused this sector to erase any of the gains that occurred last year, as 2018 prices remain just below 2017 levels. Overall, annual prices remain 1.4 per cent below 2014 peak levels.
Row prices have also been edging down. As of December, row prices were $288,400, a 1.5 per cent decline from last month and nearly four per cent below last year’s levels. Overall, 2018 prices remain two per cent below last year’s levels and nearly 10 per cent below previous highs.

 

REGIONAL MARKET FACTS

Airdrie

In 2018, the Airdrie housing market was distinctly marked by oversupply and signs of buyers’ market conditions. Compared to last year, inventory levels and months of supply have been significantly higher, combined with lower levels of sales. This has led to downward pressures on the benchmark price for detached homes.
Annual residential sales exhibited a year-over-year decline of 14 per cent and were almost 19 per cent lower than activity over the past 5 years. This consistent decline was observed across all product types.
Supply in 2018 was at record-high levels, with new listings achieving a new year-to-date peak for most of the year. Inventories have also been continuously increasing throughout this year and are 12 per cent higher than in 2017. Months of supply have increased steadily and averaged 5.6 months in 2018.
Persistent oversupply has resulted in a decline in Airdrie prices.  In 2018 detached benchmark prices averaged $369,042, over two percent below last year

 

Cochrane

Declining by 64 units, 2018 sales in Cochrane were lower than the previous year. However, an annual count of 599 sales remains comparable to activity over the past three years.
In 2018 there were 1,288 new listings, the highest on record.  Elevated new listings and easing sales resulted in rising inventories and months of supply that averaged nearly 7 months.  
Elevated supply has caused detached prices to trend down over the second half of the year, however, it was not enough to offset earlier gains.  In 2018, detached benchmark prices have remained comparable to last year.

 

Okotoks

2018 residential sales in Okotoks were 463 units, a decline over last year and comparable to 2010 activity.
Gains in new listings combined with slower sales resulted in rising inventory and excess supply in this market. 
Despite increased supply and weak sales, detached home prices in Okotoks showed modest increases in 2018. The average detached benchmark price totalled $434,875, which is one per cent higher than last year.

Source Creb Jan 2.2019

posted in Calgary housing statistics at Wed, 02 Jan 2019 20:49:36 -0700

Thursday, November 22, 2018 - Peace & Quiet living in Calgary?

Springbank offers tranquil lifestyle and stunning views on Calgary?s western outskirts As the summer sun rises in the bold, blue Alberta sky, Lisa Neiles revels in the quiet, as she sips her coffee on the deck of her home on Calgary?s western perimeter in Springbank Hill. She says that the peacefulness, along with the easy access to the city, attracted her and her husband to the area. ?I love how we can sit on our deck and hear nothing but the birds chirping,? said Neiles. ?It is rare you can ... Full Article...
posted in Calgary housing statistics at Thu, 22 Nov 2018 11:47:32 -0700

Tuesday, August 7, 2018 - tips for decluttering

A cluttered home or workspace can be stressful and distracting. Although getting rid of clutter can sometimes seem overwhelming, by taking small and manageable steps you can quickly and easily reclaim your space. See our checklist below, it will help you feel more calm and productive as you begin. Our junk truck teams have seen lots of clutter in their days. We?ve been able to put together a list to help you prepare for de-cluttering your life during spring cleaning. 1. Be Prepared: Don?t start ... Full Article...
posted in Calgary housing statistics at Tue, 07 Aug 2018 11:59:07 -0600

Sunday, July 8, 2018 - wine room?

In-home wine cellars? popularity on the rise Canadians love to kick back and enjoy a good sip or smooth tipple ? after all, we spent $7 billion on wine alone in 2016, according to Statistics Canada. So it?s no surprise that people are building the activity into their homes. Whether a leisure-time imbiber, a hobbyist or a serious collector, wine racks, wine rooms and wet bars have become popular additions to new-home designs and renovated homes alike. Pieter Spinder is president and chief design ... Full Article...
posted in Calgary housing statistics at Sun, 08 Jul 2018 09:37:53 -0600

Tuesday, April 3, 2018 - March 2018 housing statistics

Housing Market Inventory on the Rise. As expected, slow sales this quarter have persisted through March in the City of Calgary. This is not a surprise, after stronger growth in sales at the end of last year following the announced changes to the lending market. First quarter sales totaled 3,423 units, nearly 18 per cent below last year's levels and 24 per cent below long-term averages. Easing sales and modest gains in new listings caused inventories to rise and months of supply to remain above ... Full Article...
posted in Calgary housing statistics at Tue, 03 Apr 2018 10:02:19 -0600

Tuesday, January 23, 2018 - December 2017

Sales activity for all product types improved in December and pushed monthly sales to long-term averages for the second month in a row. However, new listings also rose, keeping inventory elevated compared to typical levels for December. With more supply remaining compared to sales, benchmark prices edged down for the fifth consecutive month.   "Many of the economic indicators continue to post modest improvements, including improving sales. However, demand gains have not outpaced the additional ... Full Article...
posted in Calgary housing statistics at Tue, 23 Jan 2018 16:41:57 -0700

Saturday, July 15, 2017 - June housing market update

June spells a gradual recovery Stable prices in detached sector signal balanced conditions despite increased inventory Calgary's housing market in June saw a modest improvement in sales along with an increase in new listings. However, demand gains have not kept pace with the amount of new listings coming onto the market. This caused inventory levels to increase to 6,659 units, which is 11 per cent higher than last year's levels.  Despite the recent shift in inventory this month, second quarter ... Full Article...
posted in Calgary housing statistics at Sat, 15 Jul 2017 12:21:21 -0600

Monday, April 24, 2017 - A place for plants

By following three simple rules, you can keep your apartment plants happy and healthy They say you should raise a plant before you raise a pet ? it?s a warm-up activity. At the very least, tropical plants are easier to take care of, and cheaper too. Apartment-ready plants, typically in four inch (9 cm) pots, are available at most grocery stores. At that size they?re not a big financial or emotional investment. Plus, tiny tropical varieties are just so cute. Before bringing home a baby ...
posted in Calgary housing statistics at Mon, 24 Apr 2017 11:53:20 -0600

Friday, March 10, 2017 - February sales

Detached sales activity boosts February housing market After the first two months of the year, Calgary's detached sector continues to drive a slow transition in the housing market. February sales totaled 1,342 units, which is still 19 per cent below long-term averages, but an improvement over the past two years. As sales kept trending upward, detached inventory levels continued to ease in February. These conditions caused months of supply to fall to 2.4 months, putting less downward pressure on ... Full Article...
posted in Calgary housing statistics at Fri, 10 Mar 2017 10:32:29 -0700

Monday, March 6, 2017 - current newsletter

how to incorporate the hottest fashion trends into your home decor? Having guests over for brunch? Serve them this carb friendly Crustless quiche Here is a Number Cruncher for those of you who like challenges Get tips on finding a trusted real estate lawyer Could living architecture be coming to a building near you? http://DMSConnect.cld.bz/Courtesy-of-Pat-LanukeCurious
posted in Calgary housing statistics at Mon, 06 Mar 2017 10:27:16 -0700

Wednesday, January 14, 2015 - Housing forecast for 2015

I was at the CREB Forecast this morning and the here is the general  housing forecast for 2015: Housing sales are forecasted to ease by four per cent this year, due to market uncertainty and changes in economic climate, while prices are expected to remain relatively stable with a modest increase of 1.58 per cent on an annual basis, CREB said today in its annual forecast.  If you have any questions or for a copy of the forecast, please do not hesitate to contact  me.
posted in Calgary housing statistics at Wed, 14 Jan 2015 14:52:54 -0700

Friday, January 2, 2015 - December housing stats

Condominium and townhouse sales set a new record for 2014 It was a record setting year for Calgary?s condominium apartment and townhouse sectors, as sales reached new annual highs despite year-over-year residential sales declines of 7.5 per cent in December. Single family sales totaled 708 units in December, a year-over-year decline of 8.3 per cent. Meanwhile, total condominium sales also declined by six per cent over the same time frame, but overall activity remained consistent with long-term ... Full Article...
posted in Calgary housing statistics at Fri, 02 Jan 2015 12:40:13 -0700

Sunday, November 16, 2014 - Calgary resale housing moves to more of a balanced market!

To read the full article go to: http://www.creb.com/public/media-resources/2014/2014_11_03_Media_Release_-_October_2014_Housing_Stats.pdf  
posted in Calgary housing statistics at Sun, 16 Nov 2014 12:44:08 -0700

Saturday, October 4, 2014 - September statistics

http://www.youtube.com/watch?v=uznpkWBD-3w&feature=youtu.be  
posted in Calgary housing statistics at Sat, 04 Oct 2014 10:49:52 -0600

Wednesday, June 4, 2014 - May housing statistics

Residential sales in the city of Calgary totaled 2,948 units in May, a 16 per cent increase over the previous year. Sales last month were well above long-term trends and are the highest May activity on record. ?Strong sales activity is a reflection of improving fundamental conditions such as a growing population, favourable lending rates and rising wages,? says CREB® chief economist Ann-Marie Lurie. ?Leading up to May, resale market sales were somewhat restricted by lack of choice. However, ... Full Article...
posted in Calgary housing statistics at Wed, 04 Jun 2014 13:23:11 -0600

Friday, January 3, 2014 - December 2013

December?s eight per cent year-over-year increase in sales volume in the city of Calgary capped a year that saw an 11 per cent growth in sales volume for the entire 12 months. City residential sales totaled 1,172 units in December, bringing total sold units for 2013 to 23,489. Prices for the year were up by 8.6 per cent over 2012. ?Sales growth exceeded expectations in 2013, pushing above long-term trends,? said Ann-Marie Lurie, CREB®?s chief economist. ?Two consecutive years of elevated levels ... Full Article...
posted in Calgary housing statistics at Fri, 03 Jan 2014 10:08:59 -0700

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