Year-End Figures Demonstrate Stable Growth

“2011 a year of steady improvement for the housing market.” According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales in 2011 increased eight per cent over last year, with 18,568 sales compared to 17,267 in 2010. 

Read more: http://www.creb.com/public/seller-resources/housing-statistics.php  Click “December 2011”

Does the data support the headlines? The following table shows the absorption rate for single-family homes in Metro Calgary each month since December of last year.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
December 2010	734	3,869 + 744 = 4,613	15.91%
January 2011	787	2,712 + 1,958 = 4,670	16.85%
February 2011	1,169	3,073 + 2,268 = 5,341	21.89%
March 2011	1,355	3,504 + 2,434 = 5,938	22.82%
April 2011	1,217	4,024 + 2,299 = 6,323	19.25%
May 2011	1,313	4,395 + 2,552 = 6,947	18.90%
June 2011	1,398	4,616 + 2,424 = 7,040	19.86%
July 2011	1,153	4,744 + 2,038 = 6,782	17.00%
August 2011	1,106	4,630 + 2,112 = 6,742	16.40%
September 2011	1,036	4,573 + 2,327 = 6,900	15.01%
October 2011	988	4,753 + 1,797 = 6,550	15.08%
November 2011	962	4,486 + 1,285 = 5,771	16.67%
December 2011	722	3,761 + 760 = 4,521	15.97%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for single-family homes in Calgary Metro year over year for the month of December for the last five years.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
December 2007	846	4,984 + 984 = 5,968	14.18%
December 2008	449	5,083 + 836 = 5,919	7.59%
December 2009	799	2,658 + 806 = 3,464	23.07%
December 2010	734	3,869 + 744 = 4,613	15.91%
December 2011	722	3,761 + 760 = 4,521	15.97%

 The Single Family Median Price has shown the following progression:

The following table shows the absorption rate of Condominiums in Metro Calgary each month since December of last year.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
December 2010	320	1,882 + 369 = 2,251	14.22%
January 2011	297	1,429 + 870 = 2,299	12.92%
February 2011	468	1,634 + 971 = 2,605	17.97%
March 2011	581	1,750 + 998 = 2,748	21.14%
April 2011	535	1,913 + 971 = 2,884	18.55%
May 2011	503	2,005 + 1,017 = 3,022	16.64%
June 2011	581	2,092 + 958 = 3,050	19.05%
July 2011	453	2,023 + 825 = 2,848	15.91%
August 2011	468	2,003 + 866 = 2,869	16.31%
September 2011	429	1,997 + 900 = 2,897	14.81%
October 2011	368	2,008 + 757 = 2,765	13.31%
November 2011	393	1,935 + 562 = 2,497	15.74%
December 2011	310	1,676 + 324 = 2,000	15.50%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for condominiums in Calgary Metro year over year for the month of December for the last five years.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
December 2007	393	2,196 + 468 = 2,664	14.75%
December 2008	205	2,399 + 431 = 2,830	7.24%
December 2009	341	1,434 + 444 = 1,878	18.16%
December 2010	320	2,882 + 369 = 2,251	14.22%
December 2011	310	1,676 + 324 = 2,000	15.50%

The Condominium Median Price has shown the following progression:

Although Calgary residential sales in 2011 increased eight per cent over last year, the Single Family Median Price in December 2011 is only 1.21% higher than December of 2010 and the Condominium Median Price in December of 2011 is .24% lower than in December 2011.

According to the above data, with a couple of ups and downs along the way, 2011 ended the year at relatively the same absorption rate and median price levels as 2010. Unless something drastic happens in the financial markets or unless we see a deluge of new listings the data supports a return to a balanced market in 2011.   

Hope this helps!

Susanita de Diego

 

“Calgary Housing Sales Trending Up and Stable Pricing Providing Opportunities for Buyers”

According to figures released by CREB® (Calgary Real Estate Board), Calgary residential sales in November increased eight per cent over last year, at 17,538 after the first 11 months of the year. Read more:

http://www.creb.com/public/seller-resources/housing-statistics.php  Click “November 2011”

Does the data support the headlines? The following table shows the absorption rate for single-family homes in Metro Calgary each month since November of last year.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
November 2010	891	4,528+ 1,318 = 5,846	15.24%
December 2010	734	3,869 + 744 = 4,613	15.91%
January 2011	787	2,712 + 1,958 = 4,670	16.85%
February 2011	1,169	3,073 + 2,268 = 5,341	21.89%
March 2011	1,355	3,504 + 2,434 = 5,938	22.82%
April 2011	1,217	4,024 + 2,299 = 6,323	19.25%
May 2011	1,313	4,395 + 2,552 = 6,947	18.90%
June 2011	1,398	4,616 + 2,424 = 7,040	19.86%
July 2011	1,153	4,744 + 2,038 = 6,782	17.00%
August 2011	1,106	4,630 + 2,112 = 6,742	16.40%
September 2011	1,036	4,573 + 2,327 = 6,900	15.01%
October 2011	988	4,753 + 1,797 = 6,550	15.08%
November 2011	962	4,486 + 1,285 = 5,771	16.67%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for single-family homes in Calgary Metro year over year for the month of November for the last five years.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
November 2007	1,103	5,517 + 1,103 = 6,620	16.66%
November 2008	670	5,522 + 1,567 = 7,089	9.45%
November 2009	1,095	3,003 + 1,365 = 4,368	25.07%
November 2010	891	4,528 + 1,318 = 5,846	15.24%
November 2011	962	4,486 + 1,285 = 5,771	16.67%

 The Single Family Median Price has shown the following progression:

The following table shows the absorption rate of Condominiums in Metro Calgary each month since November of last year.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
November 2010	310	2,042 + 632 = 2,674	11.59%
December 2010	320	1,882 + 369 = 2,251	14.22%
January 2011	297	1,429 + 870 = 2,299	12.92%
February 2011	468	1,634 + 971 = 2,605	17.97%
March 2011	581	1,750 + 998 = 2,748	21.14%
April 2011	535	1,913 + 971 = 2,884	18.55%
May 2011	503	2,005 + 1,017 = 3,022	16.64%
June 2011	581	2,092 + 958 = 3,050	19.05%
July 2011	453	2,023 + 825 = 2,848	15.91%
August 2011	468	2,003 + 866 = 2,869	16.31%
September 2011	429	1,997 + 900 = 2,897	14.81%
October 2011	368	2,008 + 757 = 2,765	13.31%
November 2011	393	1,935 + 562 = 2,497	15.74%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for condominiums in Calgary Metro year over year for the month of November for the last five years.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
November 2007	496	2,329 + 1,949 = 4,278	11.59%
November 2008	284	2,640 + 741 = 3,381	8.40%
November 2009	504	1,482 + 705 = 2,187	23.05%
November 2010	310	2,042 + 632 = 2,674	11.59%
November 2011	393	1,935 + 562 = 2,497	15.74%

The Condominium Median Price has shown the following progression:

The Single Family absorption rate and Median Prices are up compared to October 2011 and November 2010! And although the Condominium Median price is down, the number of sales and the absorption rate are up compared to October 2011 and November 2010!

Traditionally December is our slowest month for both new listings and sales however anyone who is looking for a home this time of year is serious.

Unless something drastic happens in the financial markets or unless we see a deluge of new listings in the New Year the data supports a much stronger early Spring market for Sellers.   

Hope this helps!

Susanita de Diego

 

Interesting Calgary Herald Article by Mario Toneguzzi

http://blogs.calgaryherald.com/2011/11/03/most-popular-selling-price-points-for-calgary-mls-homes/

See our comment.

 

“Calgary’s Housing Market Set to Outpace 2010″ and “Several Calgary Communities Get a Boost in Sales and Price”

According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales totaled 16,184 after the first 10 months of the year, an increase of 8% over last year.

Read more: http://www.creb.com/public/seller-resources/housing-statistics.php Click “October 2011”

Does the data support the headlines? The following table shows the absorption rate for single-family homes in Metro Calgary each month since October of last year.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
October 2010	888	4,880 + 1,765 = 6,645	13.36%
November 2010	891	4,528+ 1,318 = 5,846	15.24%
December 2010	734	3,869 + 744 = 4,613	15.91%
January 2011	787	2,712 + 1,958 = 4,670	16.85%
February 2011	1,169	3,073 + 2,268 = 5,341	21.89%
March 2011	1,355	3,504 + 2,434 = 5,938	22.82%
April 2011	1,217	4,024 + 2,299 = 6,323	19.25%
May 2011	1,313	4,395 + 2,552 = 6,947	18.90%
June 2011	1,398	4,616 + 2,424 = 7,040	19.86%
July 2011	1,153	4,744 + 2,038 = 6,782	17.00%
August 2011	1,106	4,630 + 2,112 = 6,742	16.40%
September 2011	1,036	4,573 + 2,327 = 6,900	15.01%
October 2011	988	4,753 + 1,797 = 6,550	15.08%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for single-family homes in Calgary Metro year over year for the month of October for the last five years.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
October 2007	1,113	5,562 + 3,106 = 8,668	12.84%
October 2008	820	5,387 + 2,322 = 7,709	10.63%
October 2009	1,285	3,148 + 1,819 = 4,967	25.87%
October 2010	888	4,880 + 1,765 = 6,645	13.36%
October 2011	988	4,753 + 1,797 = 6,550	15.08%

The Single Family Median Price has shown the following progression:

The following table shows the absorption rate of Condominiums in Metro Calgary each month since October of last year.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
October 2010	310	2,204 + 721 = 2,925	10.60%
November 2010	310	2,042 + 632 = 2,674	11.59%
December 2010	320	1,882 + 369 = 2,251	14.22%
January  2011	297	1,429 + 870 = 2,299	12.92%
February 2011	468	1,634 + 971 = 2,605	17.97%
March 2011	581	1,750 + 998 = 2,748	21.14%
April 2011	535	1,913 + 971 = 2,884	18.55%
May 2011	503	2,005 + 1,017 = 3,022	16.64%
June 2011	581	2,092 + 958 = 3,050	19.05%
July 2011	453	2,023 + 825 = 2,848	15.91%
August 2011	468	2,003 + 866 = 2,869	16.31%
September 2011	429	1,997 + 900 = 2,897	14.81%
October 2011	368	2,008 + 757 = 2,765	13.31%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for condominiums in Calgary Metro year over year for the month of October for the last five years.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
October 2007	501	2,235 + 1,203 = 3,438	14.57%
October 2008	399	2,659 + 1,071 = 3,730	10.70%
October 2009	601	1,515 + 859 = 2,374	25.32%
October 2010	310	2,204 + 721 = 2,925	10.60%
October 2011	368	2,008 + 757 = 2,765	13.31%

The Condominium Median Price has shown the following progression:

Absorption rates are definitely better across the board compared to October 2010. Although some communities may have seen an increase in price and sales the increase is isolated to those lucky communities. In general, the median price for single family homes has only increased by 1.8% and the median price for condominiums has only increased by 2.9%. Market conditions continue to be challenging for most Sellers with absorption rates of only 15.08% for single-family and 13.31% for condominiums.

A strong message for those who are planning to buy Real Estate in Calgary – interest rates, market conditions and prices are all in your favour! Don’t wait for interest rates, absorption rates or prices to go up!

Feel free to contact me regarding you Calgary and surrounding areas Real Estate purchase and ask me about our Private Seller Division – created to give our Buyer Clients more choice!

Hope this helps!

Susanita de Diego

403.686.1455

 

Homebuyers’ Confidence Holds Steady Despite Global Turmoil

Sales gain momentum in the first three quarters of 2011

Read more: http://www.creb.com/public/seller-resources/housing-statistics.php Click “September 2011”

According to figures released by CREB® (Calgary Real Estate Board), “Sales gain momentum in the first three quarters of 2011.” And “Homebuyers’ confidence holds steady despite global turmoil.” Does the data support the headlines?

The following table shows the absorption rate for single-family homes in Metro Calgary each month since September of last year.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
September 2010	958	5,046 + 2,252 = 7,298	13.13%
October 2010	888	4,880 + 1,765 = 6,645	13.36%
November 2010	891	4,528+ 1,318 = 5,846	15.24%
December 2010	734	3,869 + 744 = 4,613	15.91%
January 2011	787	2,712 + 1,958 = 4,670	16.85%
February 2011	1,169	3,073 + 2,268 = 5,341	21.89%
March 2011	1,355	3,504 + 2,434 = 5,938	22.82%
April 2011	1,217	4,024 + 2,299 = 6,323	19.25%
May 2011	1,313	4,395 + 2,552 = 6,947	18.90%
June 2011	1,398	4,616 + 2,424 = 7,040	19.86%
July 2011	1,153	4,744 + 2,038 = 6,782	17.00%
August 2011	1,106	4,630 + 2,112 = 6,742	16.40%
September 2011	1,036	4,573 + 2,327 = 6,900	15.01%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for single-family homes in Calgary Metro year over year for the month of September for the last five years.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
September 2007	1,064	4,821 + 3,106 = 7,927	13.42%
September 2008	1,152	5,541 + 2,631 = 8,172	14.10%
September 2009	1,257	3,296 + 1,857 = 5,513	24.39%
September 2010	958	5,046 + 2,252 = 7,298	13.13%
September 2011	1,036	4,573 + 2,327 = 6,900	15.01%

The Single Family Median Price has shown the following progression:

The following table shows the absorption rate of Condominiums in Metro Calgary each month since September of last year.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
September 2010	366	2,255 + 921 = 3,176	11.52%
October 2010	310	2,204 + 721 = 2,925	10.60%
November 2010	310	2,042 + 632 = 2,674	11.59%
December 2010	320	1,882 + 369 = 2,251	14.22%
January  2011	297	1,429 + 870 = 2,299	12.92%
February 2011	468	1,634 + 971 = 2,605	17.97%
March 2011	581	1,750 + 998 = 2,748	21.14%
April 2011	535	1,913 + 971 = 2,884	18.55%
May 2011	503	2,005 + 1,017 = 3,022	16.64%
June 2011	581	2,092 + 958 = 3,050	19.05%
July 2011	453	2,023 + 825 = 2,848	15.91%
August 2011	468	2,003 + 866 = 2,869	16.31%
September 2011	429	1,997 + 900 = 2,897	14.81%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for condominiums in Calgary Metro year over year for the month of September for the last five years.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
September 2007	483	1,855 + 1,315 = 3,170	15.24%
September 2008	465	2,699 + 1,186 = 3,885	11.97%
September 2009	580	1,479 + 940 = 2.419	23.98%
September 2010	366	2,457 + 808 = 3,265	11.52%
September 2011	429	1,997 + 900 = 2,897	14.81%

The Condominium Median Price has shown the following progression:

Although absorption rates are definitely better across the board compared to September 2010, compared to last month, they have dropped. This means that market conditions continue to be challenging for Sellers with absorption rates of only 15.01% for single-family and 14.81% for condominiums.

A strong message for those who are planning to buy Real Estate in Calgary – interest rates, market conditions and prices are all in your favour! Don’t wait for interest rates, absorption rates or prices to go up!

Feel free to contact me at 403.686.1455 regarding your Calgary and surrounding areas Real Estate purchase.

Hope this helps!

Susanita de Diego

 

“The River” To be built alongside the Elbow

http://www.calgaryherald.com/business/Around+Town+River+built+alongside+Elbow/5368987/story.html

Wow! What a beautiful sounding development!

 

Calgary Homebuyers Take Advantage of Affordability and Choice

Upper-end home and entry level condo sales get a boost

Read more: http://www.creb.com/public/seller-resources/housing-statistics.php Click “August 2011″

According to figures released by CREB® (Calgary Real Estate Board), “Sales for upper-end homes are above the pace set a year ago. As of Wednesday August 31, there were 948 single family sales over $700,000 recorded this year, compared to 779 reported for the same period in 2010.”

The following table shows the absorption rate for single-family homes in Metro Calgary each month since August of last year.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
August 2010	867	5,525 + 1,960 = 7,485	11.58%
September 2010	958	5,046 + 2,252= 7,298	13.13%
October 2010	888	4,880 + 1,765 = 6,645	13.36%
November 2010	891	4,528+ 1,318 = 5,846	15.24%
December 2010	734	3,869 + 744 = 4,613	15.91%
January 2011	787	2,712 + 1,958 = 4,670	16.85%
February 2011	1,169	3,073 + 2,268 = 5,341	21.89%
March 2011	1,355	3,504 + 2,434 = 5,938	22.82%
April 2011	1,217	4,024 + 2,299 = 6,323	19.25%
May 2011	1,313	4,395 + 2,552 = 6,947	18.90%
June 2011	1,398	4,616 + 2,424 = 7,040	19.86%
July 2011	1,153	4,744 + 2,038 = 6,782	17.00%
August 2011	1,106	4,630 + 2,112 = 6,742	16.40%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for single-family homes in Calgary Metro year over year for the month of August for the last five years.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
August 2007	1,314	4,510 + 2,837 = 7,347	17.88%
August 2008	1,170	6,038 + 2,270 = 8,308	14.08%
August 2009	1,277	3,314 + 1,910 = 5,224	24.44%
August 2010	867	5,525 + 1,960 = 7,485	11.58%
August 2011	1,106	4,630 + 2,112 = 6,742	16.40%

The Single Family Median Price has shown the following progression:

The following table shows the absorption rate of Condominiums in Metro Calgary each month since August of last year.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
August 2010	364	2,457 + 808 = 3,265	11.15%
September 2010	366	2,255 + 921 = 3,176	11.52%
October 2010	310	2,204 + 721 = 2,925	10.60%
November 2010	310	2,042 + 632 = 2,674	11.59%
December 2010	320	1,882 + 369 = 2,251	14.22%
January  2011	297	1,429 + 870 = 2,299	12.92%
February 2011	468	1,634 + 971 = 2,605	17.97%
March 2011	581	1,750 + 998 = 2,748	21.14%
April 2011	535	1,913 + 971 = 2,884	18.55%
May 2011	503	2,005 + 1,017 = 3,022	16.64%
June 2011	581	2,092 + 958 = 3,050	19.05%
July 2011	453	2,023 + 825 = 2,848	15.91%
August 2011	468	2,003 + 866 = 2,869	16.31%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for condominiums in Calgary Metro year over year for the month of August for the last five years.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
August 2007	598	1,634 = 1,186 = 2,820	21.21%
August 2008	495	2,888 + 1,054 = 3,942	12.56%
August 2009	632	1,587 + 932 = 2,519	25.09%
August 2010	364	2,457 + 808 = 3,265	11.15%
August 2011	468	2,033 + 866 = 2,869	16.31%

The Condominium Median Price has shown the following progression:

I love how the Calgary Real Estate Board almost always puts a positive spin to the statistics! It is great that sales for upper-end single family homes are up, but the single family Median Price has dropped almost 5% since May of this year and the single family absorption rate has continued to drop since March when it was 21.14% to 16.40% in August. What is very interesting is that the condominium absorption rate has actually improved from July to August! What does this all mean? Although absorption rates are definitely better across the board compared to August 2010, market conditions continue to be challenging for Sellers with absorption rates of 16.40% for single-family and 16.31% for condominiums.

A strong message for those who are planning to buy Real Estate in Calgary – interest rates, market conditions and prices are all in your favour! Don’t wait for interest rates, absorption rates or prices to go up!

Feel free to contact me regarding your Calgary and surrounding areas Real Estate purchase.

Hope this helps!

Susanita de Diego

403.686.1455

www.calgaryhomesellingteam.com

 

Calgary Real estate board trims sales forecast

Changing economic and market conditions have spurred the Calgary Real Estate Board to significantly revise downward its annual forecast for MLS sales.

Read more: http://www.calgaryherald.com/business/Real+estate+board+trims+sales+forecast/5276857/story.html#ixzz1Vao6uDFt

 

Calgary Housing Market On The Road To Recovery

Market improvements driven by clients looking for value.

Read more: http://www.creb.com/public/seller-resources/housing-statistics.php Click “July 2011″

According to figures released by CREB® (Calgary Real Estate Board), “Residential sales continue to trend towards recovery.” And; “While the improvements signal market recovery, overall sales levels remain 17 per cent below the 10-year average for this period.

The following table shows the absorption rate for Single-Family homes in Metro Calgary each month since July of last year.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
July 2010	914	5,991 + 1,940 = 7,931	11.52%
August 2010	867	5,525 + 1,960 = 7,485	11.58%
September 2010	958	5,046 + 2,252 = 7,298	13.13%
October 2010	888	4,880 + 1,765 = 6,645	13.36%
November 2010	891	4,528+ 1,318 = 5,846	15.24%
December 2010	734	3,869 + 744 = 4,613	15.91%
January 2011	787	2,712 + 1,958 = 4,670	16.85%
February 2011	1,169	3,073 + 2,268 = 5,341	21.89%
March 2011	1,355	3,504 + 2,434 = 5,938	22.82%
April 2011	1,217	4,024 + 2,299 = 6,323	19.25%
May 2011	1,313	4,395 + 2,552 = 6,947	18.90%
June 2011	1,398	4,616 + 2,424 = 7,040	19.86%
July 2011	1,153	4,744 + 2,038 = 6,782	17.00%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for single-family homes in Calgary Metro year-over-year for the month of July for the last five years.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
July 2007	1,495	4,443 + 2,548 = 6,991	21.38%
July 2008	1,313	6,543 + 2,559 = 9,102	14.43%
July 2009	1,585	3,395 + 2,089 = 5,484	28.90%
July 2010	914	5,991 + 1,940 = 7,931	11.52%
July 2011	1,153	4,744 + 2,038 = 6,782	17.00%

The Single Family Median Price has shown the following progression:

The following table shows the absorption rate of Condominiums in Metro Calgary each month since July of last year.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
July 2010	396	2,626 + 890 = 3,516	11.26%
August 2010	364	2,457 + 808 = 3,265	11.15%
September 2010	366	2,255 + 921 = 3,176	11.52%
October 2010	310	2,204 + 721 = 2,925	10.60%
November 2010	310	2,042 + 632 = 2,674	11.59%
December 2010	320	1,882 + 369 = 2,251	14.22%
January 2010	297	1,429 + 870 = 2,299	12.92%
February 2011	468	1,634 + 971 = 2,605	17.97%
March 2011	581	1,750 + 998 = 2,748	21.14%
April 2011	535	1,913 + 971 = 2,884	18.55%
May 2011	503	2,005 + 1,017 = 3,022	16.64%
June 2011	581	2,092 + 958 = 3,050	19.05%
July 2011	453	2,023 + 825 = 2,848	15.91%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for Condominiums in Calgary Metro year-over-year for the month of July for the last five years.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
July 2007	603	1,438 + 1,117 = 2,555	23.60%
July 2008	535	3,093 + 1,183 = 4,276	12.51%
July 2009	702	1,744 + 918 = 2,662	26.37%
July 2010	396	2,626 + 890 = 3,516	11.26%
July 2011	453	2,023 + 825 = 2,848	15.91%

The Condominium Median Price has shown the following progression:

Here we see another example of why it is so important to look at BOTH the number of sales AND the available inventory to gauge market conditions.  Compared to last year the absorption rates for both Single Family and Condominium markets are up but compared to last month the absorption rates are down by 2.86% and 3.09% respectively.  The good news is that inventory levels seem to have peaked in June.  If we continue to see the decline in the number of available properties we should see a strong fall market.

Hope this helps!

Susanita de Diego

 

Condo and Home Sales Find Their Footing

First year-over-year increase in monthly condominium sales since April 2010.

Read more:  http://www.creb.com/public/seller-resources/housing-statistics.php Click “June 2011“

According to figures released by CREB® (Calgary Real Estate Board), while this single-family market has shown signs of improvement throughout the first half of this year, this is the first time since April 2010 that condominium sales have recorded a year-over-year increase.

The following table shows the absorption rate for single-family homes in Metro Calgary each month since June of last year.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
June 2010	1,061	5,649 + 2,733 = 8,382	12.66%
July 2010	915	5,991 + 1,942 = 7,933	11.53%
August 2010	867	5,525 + 1,960 = 7,485	11.58%
September 2010	958	5,046 + 2,252 = 7,298	13.13%
October 2010	888	4,880 + 1,765 = 6,645	13.36%
November 2010	891	4,528+ 1,318 = 5,846	15.24%
December 2010	734	3,869 + 744 = 4,613	15.91%
January 2011	787	2,712 + 1,958 = 4,670	16.85%
February 2011	1,169	3,073 + 2,268 = 5,341	21.89%
March 2011	1,355	3,504 + 2,434 = 5,938	22.82%
April 2011	1,217	4,024 + 2,299 = 6,323	19.25%
May 2011	1,313	4,395 + 2,552 = 6,947	18.90%
June 2011	1,398	4,616 + 2,424 = 7,040	19.86%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for single-family homes in Calgary Metro year-over-year for the month of June for the last five years.

Month/Year	Single Family Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
June 2007	1,757	3,716 + 3,313 = 7,029	25.00%
June 2008	1,439	7,009 + 2,787 = 9,886	14.56%
June 2009	1,837	3,861 + 2,244 = 6,105	30.09%
June 2010	1,061	5,649 + 2,733 = 8,382	12.66%
June 2011	1,398	4,616 + 2,424 = 7,040	19.86%

The single-family median price has shown the following progression:

The following table shows the absorption rate of condominiums in Metro Calgary each month since June of last year.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
June 2010	445	2,656 + 1,084 = 3,740	11.90%
July 2010	396	2,626 + 890 = 3,516	11.26%
August 2010	364	2,457 + 808 = 3,265	11.15%
September 2010	366	2,255 + 921 = 3,176	11.52%
October 2010	310	2,204 + 721 = 2,925	10.60%
November 2010	310	2,042 + 632 = 2,674	11.59%
December 2010	320	1,882 + 369 = 2,251	14.22%
January 2010	297	1,429 + 870 = 2,299	12.92%
February 2011	468	1,634 + 971 = 2,605	17.97%
March 2011	581	1,750 + 998 = 2,748	21.14%
April 2011	535	1,913 + 971 = 2,884	18.55%
May 2011	503	2,005 + 1,017 = 3,022	16.64%
June 2011	581	2,092 + 958 = 3,050	19.05%

The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for condominiums in Calgary Metro year-over-year for the month of June for the last five years.

Month/Year	Condominium Sales	Month End Inventory + Inventory Added During the Month	Percentage of Available Inventory Sold
June 2007	792	1,173 + 1,253 = 2,426	32.65%
June 2008	556	3,308 + 1,234 = 4,542	12.24%
June 2009	738	1,952 + 927 = 2,879	25.63%
June 2010	445	2,656 + 1,084 = 3,740	11.90%
June 2011	581	2,092 + 958 = 3,050	19.05%

The condominium median price has shown the following progression:

While CREB® reports that this is the first time since April 2010 that condominium sales have recorded a year-over-year increase, we actually had a better absorption rate in March of this year at 21.14% compared to 19.05% in June.  This is an example of why it is so important to look at BOTH the number of sales AND the available inventory to gauge market conditions.  The median price in both single-family and condominium markets came down in June, however with both single-famly and condominium absorption rates showing a slight increase in June, we should see a better fall market.

Hope this helps!

Susanita de Diego