Real Estate Blog - Statistics

August 2019 Statistics

The forecast is in! The Calgary Real Estate Board (CREB®) reports, “increased sales and easing new listings reduced housing inventories in August. Sales were primarily driven by homes priced below $500,000.” The sale of homes priced under $500,000 kept the market from suffering, even though higher price range homes didn’t experience as much activity.

CREB® chief economist Ann-Marie Lurie reports on the economy, “employment numbers have been improving, but mostly in industries that are traditionally lower paid. This is contributing to the shift that we are seeing in the housing market, with growth being limited to product priced below $500,000.” The jobs available are not ones that afford people the luxury of buying a home, but typically once these…

456 Views, 0 Comments

April 2019 Statistics

The Calgary Real Estate Board's big headline this month? "APRIL BRINGS A SLIGHT INVENTORY DECLINE." Why so dramatic? Because for months now Calgary's real estate market has been struggling with massive oversupply in the market, leading to a buyer's market at a time when few people were able to buy. This news is an exciting turn of events (one which was forecasted at the start of the year) that will hopefully bring increased stability to the real estate market here in Calgary, Alberta. 

In their media report, CREB notes, "There have been no significant changes occurring in sales activity, but the number of new listings coming onto the market continues to ease relative to 2018 levels. The decline in new listings was enough to start chipping away at…

508 Views, 0 Comments

April 2019 Real Estate Statistics

It's that time of the year again... the Calgary Real Estate Board has released their latest market statistics summary. This one goes over everything that happened in the Calgary real estate market during this last month of March. Did St. Patrick's day bring the Calgary real estate market some good ol' Irish Luck? Read on to find out.

If this is your first time reading these stats, here is what you need to know: ever since the last oil crash that hit Alberta's economy hard, the Calgary real estate market has been struggling to recover. As people lost their jobs, couldn't find jobs, were forced to go further in debt and drained their savings, owning a home became a distant memory or a dream, but not a reality.

This had a severe impact on the…

484 Views, 0 Comments

January 2019 Statistics

The Calgary Real Estate Board announced its stats for January 2019! Read on for the inside scoop.... 

As economic challenges linger into 2019, housing markets remain on a sluggish pace.

• In January 804 units were sold. This is 21 per cent below long-term averages for the month of January, and 16 per cent below last January's averages. 
• Citywide benchmark prices eased to $414,800 for residential homes, dropping 1 per cent from the previous month of December, and 4 per cent below averages from January in 2018.
• Months of supply now sits at seven months. This is due to yet another increase in inventory, without enough sales to balance the scales. As such, Calgary continues to stay locked in a buyer's market. 

CREB® chief economist…

523 Views, 0 Comments

Experience Matters

When you are thinking of real estate, especially now in 2019 during Calgary’s challenging real estate
market, think no further than to hire myself, Ken Richter for excellent service and ultimate results. As
your trusted professional Realtor® I have 30+ years of experience, 2018 ranked Top 6 Individual Agent at
RE/MAX Real Estate (Central), the #1 Selling Real Estate Office Worldwide for 19 consecutive years and
finished in the Top 100 in RE/MAX Western Canada once again. Contact me today at 403-630-6363 or ken@kenrichter.com.

This month the Calgary Real Estate Board released it's 2019 forecast, which echoed much of what we've heard in the last year: this economic climate is making buying and selling homes challenging. 

CREB® Chief Economist…

597 Views, 0 Comments

December 2018 Statistics

The Calgary Board of Real Estate notes in their January report, "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." This summary of what happened in the final month of 2018 paints a bleak picture of December, which hopefully ended a difficult year in the real estate; though still better than others. Our hopes are that we see even more improvement in 2019!

Here are the highlights from their statistics summary: 

• December sales totalled 794 units. This is a 21% decline compared to December of 2017. 
• Year-to-date sales in the city totalled 16,144 units. This is 20% below long-term averages and about 14% less than in 2017.
• …

521 Views, 0 Comments

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…

15824 Views, 0 Comments

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…

978 Views, 0 Comments

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…

686 Views, 0 Comments

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.”

708 Views, 0 Comments