“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
