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
