Real Estate Blog - Market Updates

Calgary Real Estate Statistics

CREB®, the Calgary Real Estate Board, did not have the best news to share during October's market statistics summary. 

October’s housing market conditions closely echoed previous month’s trends with easing sales, rising inventories and downward price pressure. Like last month, the monthly activity was not enough to derail gains that occurred earlier in the year.

So what exactly were the stats? Here are some highlights to know:

• October Sales: 1,467 units
• Inventory: 6,463 units
• Most Inventory: Detached homes under $500,000
• City-wide Unadjusted Benchmark Price: $438,900 (this is 0.6 % below last month)

CREB® chief economist Ann-Marie Lurie says, "while economic activity has improved in 2017, it will take some time for this to…

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September 2017 Statistics

Good news, Calgary! Gains in the real estate market for the first half of 2017 have bumped sale levels 7% higher than last year!

Inventory levels rose to 6,861 units in September. While this increase was seen across all the different property types, attached homes and apartments saw the largest increase. CREB® chief economist AnnMarie Lurie reported:

“The recent rise in inventories is preventing further price recovery as sales activity has moderated over recent months. 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. Some may consider this a setback, but it is important to note that recent movements are balancing out the higher than…

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August 2017 Statistics

What was the Calgary Real Estate Board's overall message when summarizing the Calgary housing market for the month of August? Listings are outpacing sales.

 CREB® chief economist Ann-Marie Lurie had this to say about the market: “Employment growth is contributing to the stability in sales activity, but it is not enough to meet the recent rise in listings and make a substantial dent in inventory levels. Unemployment rates remain elevated and job growth is mostly occurring outside the energy sector, slowing the recovery process. Broader economic improvements will be required prior to it translating into substantial improvements in the housing market.”

Quick Notes:

• Inventory levels are high, totaling just over 6000 units. While this is 16% higher…

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July Housing Statistics

Every month we post a summary of what happened in the Calgary real estate market in the month previous. These housing statistics come from CREB®, the Calgary Real Estate Board. CREB® is dedicated to providing sellers, buyers, investors and renters information they need to be successful in the real estate market. Just like us, their mission is to equip and inform consumers.

There is a reason why reading through the market summaries are important. When you are entering the market you need to know what you are getting yourself into. Being informed allows you to make wise, calculated decisions that will benefit you. Remember that the market is always changing; be flexible and stay on top of things.

The Calgary Real Estate Board is a great resource, but…

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June 2017 Statistics

CREB® is happy to report that "Calgary’s housing market in June saw a modest improvement in sales along with an increase in new listings." This is great news for both buyers and sellers! For buyers this means that there are more options available for purchase, and for seller's this means that there are actually potential byers for their property.

There was a lot of inventory gain in June.  Inventory levels  were 11% higher than last years average, coming in at 6,659 units. However, CREB® affirms that despite this, the market remains stable. They report, "second quarter activity continues to demonstrate improved supply-demand balance and price stability. City wide benchmark prices totaled $441,500 in June. This is a 0.5 per cent gain over last month and…

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April 2017 Statistics

April was another great month for Calgary real estate! We have continued to see stability in the market, leading to better prices and inventory levels. The success of the real estate market relies heavily on the economy, so as long as our economy continues to get stronger, so will market conditions.

CREB® president David P. Brown had good news to report this month: “More jobs [in Calgary] means less uncertainty for people who are sitting on the fence [about entering the real estate market]. There also tends to be fewer people who need to sell when employment improves, and that can prevent inventory gains and further price reductions in the market.”

CREB® president David P. Brown adds, “it’s a good scenario for sellers who are entering a spring…

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March Housing Statistics

The Calgary Real Estate Board (CREB®) had good news to report in their summary of what happened in the YYC housing market in march: the detached sector reached balanced supply and demand levels. This ideal condition gave the market a great boost, with more sales being made than there has been in the last couple of years. This is something we have been waiting for ever since the market crash, and is a testament to Calgary’s ability to bounce back from hardship.

What exactly led to these balanced conditions? CREB® president David P. Brown reports,“it’s not so much that demand went through the roof in March, but that we had less supply come onto the market, which is really helping to balance things out. These changes are lifting the cloud of uncertainty…

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Ken's Market Update

Hello Everyone,

I am very happy to relay good news, the Calgary real estate market is in a transition towards an improved market!

All of us here at Team Ken Richter are extremely busy facilitating sales in every price range despite the recent frigid winter temperatures. We are experiencing numerous weekly sales and even multiple offer situations! We haven’t experienced a heated market like this for some time. I don’t expect prices to increase anytime soon, but I believe prices will stabilize considering the market activity already this year. The low inventory of housing all across the city and the fact that mortgage interest rates remain at an all-time low are contributing to the recent wave of activity. This is very positive as our market has…

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January 2017 Statistics

The market is in an interesting place right now. It continues to do better than this time last year, but it is still falling short of long term, ten year averages. This is leaving people in an awkward space where they should be encouraged, but also not comfortable. There will be lots of growth and changes yet.

CREB® chief economist Ann-Marie Lurie says, “while housing conditions continue to favour buyers, a slow transition toward more balanced conditions is helping to ease downward pressure on home prices. Conditions have improved over last year, but people need to remember that last year’s market was one of the weakest on record. Despite the appearance of a major shift in activity, the transition in the housing market is going to be a slow process.”

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2017 CREB Forecast

2017 is going to be all about working towards market stability, something that has been shaky for the last two years. However, market stability will not reach all sectors of the housing market. CREB notes, “both detached and attached prices remain unchanged over 2016 levels, while apartment is forecasted to contract by another two per cent.” The stabilization of the housing market is going to be slow.

CREB chief economist Ann-Marie Lurie writes, “The transition in the housing market will be a slow process. We are entering the year with high unemployment rates and the possibility that job growth will not occur until the latter portion of 2017. These conditions will continue to weigh on housing demand, but supply is adjusting to weaker sales activity,…

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