CALGARY’S RESALE CONDOMINIUM MARKET SHOW SIGNS OF LIFE
Double digit year-over-year condominium sales growth
Calgary, March. 1, 2013 – Total residential sales for the month of February 2013 totaled 1,711 units, a one per cent decline over the previous year. Read more: http://www.creb.com/public/seller-resources/monthly-housing-summary.php Click “February 2013”
Does the data support the headlines? The following table shows of Single Family homes sold compared to the available inventory defined as the absorption rate for Single Family homes in Metro Calgary each month since February of last year.
| Month/Year | Single Family Sales | Previous Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| February 2012 | 1,284 | 2,980 + 1,998 = 4,978 | 25.79% |
| March 2012 | 1,576 | 3,158 + 2,351 = 5,509 | 28.61% |
| April 2012 | 1,582 | 3,367 + 2,285 = 5,652 | 27.99% |
| May 2012 | 1,710 | 3,501 + 2,706 = 6,207 | 27.55% |
| June 2012 | 1,609 | 3,842 + 2,372 = 6,214 | 25.89% |
| July 2012 | 1,386 | 3,817 + 1,878 = 5,695 | 24.34% |
| August 2012 | 1,169 | 3,646 + 1,811 = 5,457 | 21.42% |
| September 2012 | 1,132 | 3,535 + 1,888 = 5,423 | 20.87% |
| October 2012 | 1,174 | 3,486 + 1,616 = 5,102 | 23.01% |
| November 2012 | 1,006 | 3,114 + 1,157 = 4,271 | 23.55% |
| December 2012 | 745 | 2,586 + 626 = 3,212 | 23.19% |
| January 2013 | 879 | 1,859 + 1,737 = 3,596 | 24.44% |
| February 2013 | 1,209 | 2,075 + 1,879 = 3,954 | 30.58% |
The following table shows the absorption rate for Single Family homes in Calgary Metro year over year for the month of February for the last five years.
| Month/Year | Single Family Sales | Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| February 2009 | 825 | 4,040 + 2,057 = 6,097 | 13.53% |
| February 2010 | 1,035 | 2,513 + 2,154 = 4,667 | 22.18% |
| February 2011 | 1,169 | 3,073 + 2,268 = 5,341 | 21.89% |
| February 2012 | 1,284 | 2,980 + 1,998 = 4,978 | 25.79% |
| February 2013 | 1,209 | 2,075 + 1,879 = 3,954 | 30.58% |
The MLS® Home Price Index (HPI) was launched on February 6, 2012 as part of a nationwide rollout involving boards in Canada’s largest cities because average and median price changes can misrepresent changes in market price. We often refer to the median price as being immune from outliers. However, if there have been large movements in either the low end or high end of the price spectrum, the median is unable to reflect the price changes.
The MLS® Home Price Index (HPI) was introduced to provide a better measurement of price and price trends for residential properties. A benchmark home is one that is comprised of a set of specific attributes that is typical for the area where it is located.
The Single Family Benchmark Price has shown the following progression:
The following table shows the absorption rate of Condominiums in Metro Calgary each month since February of last year.
| Month/Year | Condominium Sales | Previous Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| February 2012 | 453 | 1,450 + 886 = 2,336 | 19.39% |
| March 2012 | 591 | 1,641 + 1,001 = 2,642 | 22.37% |
| April 2012 | 618 | 1,725 + 953 = 2,678 | 23.08% |
| May 2012 | 675 | 1,769 + 1,096 = 2,865 | 23.56% |
| June 2012 | 593 | 1,879 + 940 = 2,819 | 21.04% |
| July 2012 | 550 | 1,898 + 782 = 2,680 | 20.52% |
| August 2012 | 556 | 1,784 + 774 = 2,558 | 21.74% |
| September 2012 | 485 | 1,649 + 792 = 2,441 | 19.87% |
| October 2012 | 491 | 1,612 + 696 = 2,308 | 21.27% |
| November 2012 | 451 | 1,491 + 474 = 1,965 | 22.95% |
| December 2012 | 338 | 1,245 + 256 = 1,501 | 22.52% |
| January 2013 | 351 | 863 + 756 = 1,619 | 21.68% |
| February 2013 | 502 | 1,009 + 792 = 1,801 | 27.87% |
The following table shows the absorption rate for condominiums in Calgary Metro year over year for the month of February for the last five years.
| Month/Year | Condominium Sales | Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| February 2009 | 343 | 1,923 + 892 = 2,815 | 12.18% |
| February 2010 | 536 | 1,397 + 1,109 = 2,506 | 21.39% |
| February 2011 | 468 | 1,634 + 971 = 2605 | 17.39% |
| February 2012 | 453 | 1,450 + 886 = 2,336 | 19.39% |
| February 2013 | 502 | 1,009 + 792 = 1,801 | 27.87% |
One of the best features of the MLS® Home Price Index (HPI) is the separation of the Condominium data into two categories; Condo Apartments and Condo Townhomes.
The Condominium Median Price has shown the following progression:
The Calgary Real Estate Board offers a Certified Condominium Specialist designation upon completion of a three day course.
Coldwell Banker Your Calgary Home Selling Team offers several Realtors who have earned this designation.
The following table shows the absorption rate of Country Residential each month since February of last year.
| Month/Year | Country Residential Sales | Previous Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| February 2012 | 66 | 783 + 221 = 1,004 | 6.57% |
| March 2012 | 76 | 863 + 306 = 1,169 | 6.50% |
| April 2012 | 90 | 962 + 256 = 1,218 | 7.39% |
| May 2012 | 97 | 1,044 + 350 = 1,394 | 6.96% |
| June 2012 | 96 | 1,190 + 288 = 1,478 | 6.50% |
| July 2012 | 86 | 1,221 + 217 = 1,438 | 5.98% |
| August 2012 | 87 | 1,198 + 198 = 1,396 | 6.23% |
| September 2012 | 69 | 1,138 + 242 = 1,380 | 5.00% |
| October 2012 | 80 | 1,104 + 157 = 1,261 | 6.34% |
| November 2012 | 53 | 973 + 106 = 1,079 | 4.91% |
| December 2012 | 36 | 872 + 72 = 944 | 3.81% |
| January 2013 | 35 | 674 + 235 = 909 | 3.85% |
| February 2013 | 72 | 741 + 187 = 928 | 7.76% |
The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for Country Residential Properties year over year for the month of February for the last five years.
| Month/Year | Country Residential Sales | Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| February 2009 | 32 | 654 + 198 = 852 | 3.76% |
| February 2010 | 59 | 635 + 203 = 838 | 7.04% |
| February 2011 | 44 | 646 + 244 = 890 | 4.94% |
| February 2012 | 66 | 783 + 221 = 1,004 | 6.57% |
| February 2013 | 72 | 741 + 187 = 928 | 7.76% |
The MLS® Home Price Index (HPI) does not include a Benchmark Price for Country Residential property. Therefore we will continue to report the Country Residential Median Price.
This data shows why it’s so important to look at both demand and supply! Although Single Family sales were down 1% compared to February of last year, because there are far fewer listings, the absorption rate actually went up 4.79%!
And even though condominium sales were up a whopping 30.08% compared to February last year the absorption rate only went up 8.48%.
The very good news for sellers is that the Single Family, Condominium and Country Residential markets have improved from 2012 to 2013.
Hope this helps,
Susanita de Diego
CALGARY’S RESALE MARKET CONTINUES TO IMPROVE
January sales and prices rise over previous year
Calgary, Feb. 1, 2013 – Residential real estate sales in the city of Calgary started the year on a positive note, increasing by 15 per cent over the same month in 2012.
Read More: http://www.creb.com/public/seller-resources/monthly-housing-summary.php Click “January 2013”
Does the data support the headlines? The following table shows of Single Family homes sold compared to the available inventory defined as the absorption rate for Single Family homes in Metro Calgary each month since January of last year.
| Month/Year | Single Family Sales | Previous Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| January 2012 | 773 | 2,761 + 1,739 = 4,500 | 17.18% |
| February 2012 | 1,284 | 2,980 + 1,998 = 4,978 | 25.79% |
| March 2012 | 1,576 | 3,158 + 2,351 = 5,509 | 28.61% |
| April 2012 | 1,582 | 3,367 + 2,285 = 5,652 | 27.99% |
| May 2012 | 1,710 | 3,501 + 2,706 = 6,207 | 27.55% |
| June 2012 | 1,609 | 3,842 + 2,372 = 6,214 | 25.89% |
| July 2012 | 1,386 | 3,817 + 1,878 = 5,695 | 24.34% |
| August 2012 | 1,169 | 3,646 + 1,811 = 5,457 | 21.42% |
| September 2012 | 1,132 | 3,535 + 1,888 = 5,423 | 20.87% |
| October 2012 | 1,174 | 3,486 + 1,616 = 5,102 | 23.01% |
| November 2012 | 1,006 | 3,114 + 1,157 = 4,271 | 23.55% |
| December 2012 | 745 | 2,586 + 626 = 3,212 | 23.19% |
| January 2013 | 879 | 1,859 +1,737 = 3,596 | 24.44% |
The following table shows the absorption rate for Single Family homes in Calgary Metro year over year for the month of January for the last five years.
| Month/Year | Single Family Sales | Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| January 2009 | 550 | 3,860 + 2,068 = 5,928 | 9.28% |
| January 2010 | 762 | 2,054 + 1,822 = 3,876 | 19.66% |
| January 2011 | 784 | 2,712 + 1,963 = 4,675 | 16.77% |
| January 2012 | 773 | 2,761 + 1,739 = 4,500 | 17.18% |
| January 2013 | 879 | 1,859 +1,737 = 3,596 | 24.44% |
The MLS® Home Price Index (HPI) was launched on February 6, 2012 as part of a nationwide rollout involving boards in Canada’s largest cities because average and median price changes can misrepresent changes in market price. We often refer to the median price as being immune from outliers. However, if there have been large movements in either the low end or high end of the price spectrum, the median is unable to reflect the price changes.
The MLS® Home Price Index (HPI) was introduced to provide a better measurement of price and price trends for residential properties. A benchmark home is one that is comprised of a set of specific attributes that is typical for the area where it is located.
The Single Family Benchmark Price has shown the following progression:
The following table shows the absorption rate of Condominiums in Metro Calgary each month since January of last year.
| Month/Year | Condominium Sales | Previous Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| January 2012 | 305 | 1,287 + 815 = 2,102 | 14.51% |
| February 2012 | 453 | 1,450 + 886 = 2,336 | 19.39% |
| March 2012 | 591 | 1,641 + 1,001 = 2,642 | 22.37% |
| April 2012 | 618 | 1,725 + 953 = 2,678 | 23.08% |
| May 2012 | 675 | 1,769 + 1,096 = 2,865 | 23.56% |
| June 2012 | 593 | 1,879 + 940 = 2,819 | 21.04% |
| July 2012 | 550 | 1,898 + 782 = 2,680 | 20.52% |
| August 2012 | 556 | 1,784 + 774 = 2,558 | 21.74% |
| September 2012 | 485 | 1,649 + 792 = 2,441 | 19.87% |
| October 2012 | 491 | 1,612 + 696 = 2,308 | 21.27% |
| November 2012 | 451 | 1,491 + 474 = 1,965 | 22.95% |
| December 2012 | 338 | 1,245 + 256 = 1,501 | 22.52% |
| January 2013 | 351 | 863 + 756 = 1,619 | 21.68% |
The following table shows the absorption rate for condominiums in Calgary Metro year over year for the month of January for the last five years.
| Month/Year | Condominium Sales | Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| January 2009 | 225 | 1,863 + 941 = 2,804 | 8.02% |
| January 2010 | 376 | 1,204 + 951 = 2,155 | 17.45% |
| January 2011 | 302 | 1,429 + 871 = 2300 | 13.13% |
| January 2012 | 305 | 1,287 + 815 = 2,102 | 14.51% |
| January 2013 | 351 | 863 + 756 = 1,619 | 21.68% |
One of the best features of the MLS® Home Price Index (HPI) is the separation of the Condominium data into two categories; Condo Apartments and Condo Townhomes.
The Condominium Median Price has shown the following progression:
The Calgary Real Estate Board offers a Certified Condominium Specialist designation upon completion of a three day course.
Coldwell Banker Your Calgary Home Selling Team offers several Realtors who have earned this designation.
The following table shows the absorption rate of Country Residential each month since January of last year.
| Month/Year | Country Residential Sales | Previous Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| January 2012 | 40 | 703 + 219 = 922 | 4.34% |
| February 2012 | 66 | 783 + 221 = 1,004 | 6.57% |
| March 2012 | 76 | 863 + 306 = 1,169 | 6.50% |
| April 2012 | 90 | 962 + 256 = 1,218 | 7.39% |
| May 2012 | 97 | 1,044 + 350 = 1,394 | 6.96% |
| June 2012 | 96 | 1,190 + 288 = 1,478 | 6.50% |
| July 2012 | 86 | 1,221 + 217 = 1,438 | 5.98% |
| August 2012 | 87 | 1,198 + 198 = 1,396 | 6.23% |
| September 2012 | 69 | 1,138 + 242 = 1,380 | 5.00% |
| October 2012 | 80 | 1,104 + 157 = 1,261 | 6.34% |
| November 2012 | 53 | 973 + 106 = 1,079 | 4.91% |
| December 2012 | 36 | 872 + 72 = 944 | 3.81% |
| January 2013 | 35 | 674 + 235 = 909 | 3.85% |
The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for Country Residential Properties year over year for the month of January for the last five years.
| Month/Year | Country Residential Sales | Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| January 2009 | 14 | 608 + 189 = 797 | 1.76% |
| January 2010 | 38 | 556 + 202 = 758 | 5.01% |
| January 2011 | 33 | 623 + 168 = 791 | 4.17% |
| January 2012 | 40 | 703 + 219 = 922 | 4.34% |
| January 2013 | 35 | 674 + 235 = 909 | 3.85% |
The MLS® Home Price Index (HPI) does not include a Benchmark Price for Country Residential property. Therefore we will continue to report the Country Residential Median Price.
For those of you who are thinking about making a move in 2013 please review the tables above to see when the highest absorption rate occurs for your market segment. It is impossible to accurately predict future market conditions because of all of the factors that affect our real estate market . However considering that the absorption rates for the Single Family and Condominium markets are much higher than the beginning of 2012, it is reasonable to expect an even better and earlier Spring market this year.
When the time comes we would love to be of service!
Hope this helps,
Susanita de Diego
10 Biggest Mistakes that Sellers Make
From incorrect financing to lack of preparation, there are countless mistakes that a seller can make when putting their house on the market. This report covers some of the most common mistakes made by sellers during the property selling process.
If you’re serious about selling your house, it’s important that you know the facts. It seems like a simple prospect – just put your house on the market, show it to a few buyers, and make the sale – but as many sellers find out, selling a home can be a difficult, expensive and long prospect. By knowing some valuable information about the real estate industry, as well as some tips and tricks about selling your property, you’ll be able to more effectively tackle today’s real estate market. This report will tell you how you can:
- Avoid making mistakes when selling your home
- Become aware of the most common mistakes home sellers make
10 Biggest Mistakes that Sellers Make
Selling your home can be a difficult job, especially since you’re competing against hundreds of other properties. It’s vital that you be aware of what works and doesn’t work when it comes to home selling. Consider the following list of the most common mistakes made by home sellers:
Mistake 1: Setting the wrong price for your home
Experience shows the right price sells a house faster than any other factor. When the listing price is more than 5% over market value, the price alone discourages buyers. That’s because an overpriced house scares away potential buyers who think they can’t even afford to look. Buyers who do look at an overpriced house know they can get more house for their money elsewhere.
Mistake 2: Selling your home in ‘As-Is’ condition
In today’s competitive market, most buyers will not even consider a house that needs fix ups. In contrast, a sparkling showcase home gets top dollar when it comes to the bottom line. What most buyers are looking for is an inviting home in move-in condition, one that looks as good as a model home. Buyers who are willing to tackle the repairs after moving in automatically subtract the cost of needed fix-ups from the price they offer. Either way, you save nothing by putting off fix-ups and likely slow the sale of your house.
Mistake 3: Selling your home with a dull interior
A clean, bright decor is what buyers want. Probably the best dollar-for-dollar investment for selling your home fast is fresh paint. Neutral colors are best. Next to fresh paint, new carpeting–replaced for either condition or color–makes a big difference. Elbow grease can be as effective as spending cash to brighten your home. Start by ruthlessly getting rid of the junk you’ve accumulated. Clean each room top to bottom. Dare to make your home look better than you’ve ever had it looking before. Focus on the three rooms most inspected–kitchen, master bedroom and garage (if you’ve got one). Forget those and you may as well forget the buyer, too. In the kitchen, clear off counters and organize cupboards. Keep in mind, some prospects will judge the whole house by the cleanliness of the oven or refrigerator. In the master bedroom, move or remove furniture to create spaciousness. The ideal garage stores only cars and perhaps an orderly display of garden tools, so throw out your junk to show off room for theirs.
Mistake 4: No ‘Curb Appeal‘
Your house gets only one chance to make a good first impression. That’s why “curb appeal” is one of the most critical points in selling. Buyers are apt to fall in love at first sight–or not at all. If your home lacks curb appeal, chances are the first impression will not be counteracted by the most perfect floor plan or the most tasteful interior. Spruce up the view of the house from the street, including lawn, shrubs, shutters, windows, front door, mailbox. Add potted flowers out front, a wreath on the door, brass outdoor lighting fixtures–whatever will enhance your home’s “buy me” look.
Mistake 5: Over-improving your home
While it’s important to fix whatever needs fixing to get your home ready for sale, undertaking a major project could cost more money than you would recover from the sale. Spending too much on remodelling projects just drains money out of your pocket. If your improvements will push your home’s value more than 20% over the average neighbouring home values, don’t expect to recoup the entire cost. (Some major projects, however, like replacing a roof, should be done if they are needed.)
Mistake 6: Financing Incentives
The more buyers you appeal to in terms of financing, the greater your chances of selling faster. Be flexible, consider paying closing costs or points, providing a decorator’s allowance or other irresistible buyer incentives.
Mistake 7: Stretching out buyer negotiations
One of the most important moves you can make is to reply immediately to an offer. When buyers make an offer they are, right then, in the mood to buy. Moods, as you know, change, and you don’t want to lose a sale because you stall in replying.
Mistake 8: Being Adversarial during negotiations
No one wins if you enter negotiations with boxing gloves on. Instead, approach negotiations in a positive frame of mind, not as an adversary of the buyer. After all, you both want the same thing–a sale. Leave most of the discussion of price, terms, possession and other conditions up to your agent. We’ll make it our business to get you the best deal.
Mistake 9: Not having a presentable house
The presence of your family can make prospective buyers feel like intruders. If you’re at home when your home is being shown, be your usual friendly–but low-key–self and keep children and pets out from underfoot. It’s the agent’s job to show buyers what they need to see. Buyers can better focus on your home’s advantages by viewing them than by socializing. If an open house is scheduled, plan to be away from home, but let us know how to reach you quickly. When you’re not at home at other times, agents accompanying prospects will leave their business card. Please alert us afterward so we can follow up.
Mistake 10: Selling without a professional
Going it alone like General Custer could invite disaster. Without a professional advisor, you probably won’t sell. Even if you do sell, surveys show self-sellers often net less from the sale than sellers who use a real estate agent. Selling a house is a team effort between you and the listing agent. You’ll find agents do a lot more than most people know–from bringing qualified buyers to keeping things on track to settlement.
Where to go from here?
This report is designed to illustrate that selling a home is a complex, and often intricate process. If you’re interested in more information, please contact Your Calgary Home Selling Team for your FREE HOME EVALUATION.
CALGARY RESALE MARKET REACHING NORMAL
2012 saw end to four years of weaker sales activity
Calgary, Jan. 2, 2013 – Residential real estate sales in the City of Calgary ended the year on a high note, with sales volume up 15 percent in 2012 compared to 2011 and benchmark prices up five percent.
Read More: http://www.creb.com/public/seller-resources/monthly-housing-summary.php Click “December 2012”
Does the data support the headlines? The following table shows of Single Family homes sold compared to the available inventory defined as the absorption rate for Single Family homes in Metro Calgary each month since December of last year.
| Month/Year | Single Family Sales | Previous Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| December 2011 | 722 | 3,761 + 760 = 4,521 | 15.97% |
| January 2012 | 773 | 2,761 + 1,739 = 4,500 | 17.18% |
| February 2012 | 1,284 | 2,980 + 1,998 = 4,978 | 25.79% |
| March 2012 | 1,576 | 3,158 + 2,351 = 5,509 | 28.61% |
| April 2012 | 1,582 | 3,367 + 2,285 = 5,652 | 27.99% |
| May 2012 | 1,710 | 3,501 + 2,706 = 6,207 | 27.55% |
| June 2012 | 1,609 | 3,842 + 2,372 = 6,214 | 25.89% |
| July 2012 | 1,386 | 3,817 + 1,878 = 5,695 | 24.34% |
| August 2012 | 1,169 | 3,646 + 1,811 = 5,457 | 21.42% |
| September 2012 | 1,132 | 3,535 + 1,888 = 5,423 | 20.87% |
| October 2012 | 1,174 | 3,486 + 1,616 = 5,102 | 23.01% |
| November 2012 | 1,006 | 3,114 + 1,157 = 4,271 | 23.55% |
| December 2012 | 745 | 2,586 + 626 = 3,212 | 23.19% |
The following table shows 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 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 = 4,631 | 15.85% |
| December 2011 | 722 | 3,761 + 760 = 4,521 | 15.97% |
| December 2012 | 745 | 2,586 + 626 = 3,212 | 23.19% |
The MLS® Home Price Index (HPI) was launched on February 6, 2012 as part of a nationwide rollout involving boards in Canada’s largest cities because average and median price changes can misrepresent changes in market price. We often refer to the median price as being immune from outliers. However, if there have been large movements in either the low end or high end of the price spectrum, the median is unable to reflect the price changes.
The MLS® Home Price Index (HPI) was introduced to provide a better measurement of price and price trends for residential properties. A benchmark home is one that is comprised of a set of specific attributes that is typical for the area where it is located.
The Single Family Benchmark 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 | Previous Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| December 2011 | 310 | 1,676 + 324 = 2,000 | 15.50% |
| January 2012 | 305 | 1,287 + 815 = 2,102 | 14.51% |
| February 2012 | 453 | 1,450 + 886 = 2,336 | 19.39% |
| March 2012 | 591 | 1,641 + 1,001 = 2,642 | 22.37% |
| April 2012 | 618 | 1,725 + 953 = 2,678 | 23.08% |
| May 2012 | 675 | 1,769 + 1,096 = 2,865 | 23.56% |
| June 2012 | 593 | 1,879 + 940 = 2,819 | 21.04% |
| July 2012 | 550 | 1,898 + 782 = 2,680 | 20.52% |
| August 2012 | 556 | 1,784 + 774 = 2,558 | 21.74% |
| September 2012 | 485 | 1,649 + 792 = 2,441 | 19.87% |
| October 2012 | 491 | 1,612 + 696 = 2,308 | 21.27% |
| November 2012 | 451 | 1,491 + 474 = 1,965 | 22.95% |
| December 2012 | 338 | 1,245 + 256 = 1,501 | 22.52% |
The following table shows 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 2008 | 799 | 2,640 + 741 = 3,381 | 21.92% |
| December 2009 | 341 | 1,434 + 444 = 1,878 | 18.16% |
| December 2010 | 320 | 1,882 + 369 = 2,251 | 14.22% |
| December 2011 | 310 | 1,676 + 324 = 2,000 | 15.50% |
| December 2012 | 338 | 1,245 + 256 = 1,501 | 22.52% |
One of the best features of the MLS® Home Price Index (HPI) is the separation of the Condominium data into two categories; Condo Apartments and Condo Townhomes.
The Condominium Median Price has shown the following progression:
The Calgary Real Estate Board offers a Certified Condominium Specialist designation upon completion of a three day course.
Coldwell Banker Your Calgary Home Selling Team offers several Realtors who have earned this designation.
The following table shows the absorption rate of Country Residential each month since December of last year.
| Month/Year | Country Residential Sales | Previous Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| December 2011 | 48 | 894 + 100 = 994 | 4.83% |
| January 2012 | 40 | 703 + 219 = 922 | 4.34% |
| February 2012 | 66 | 783 + 221 = 1,004 | 6.57% |
| March 2012 | 76 | 863 + 306 = 1,169 | 6.50% |
| April 2012 | 90 | 962 + 256 = 1,218 | 7.39% |
| May 2012 | 97 | 1,044 + 350 = 1,394 | 6.96% |
| June 2012 | 96 | 1,190 + 288 = 1,478 | 6.50% |
| July 2012 | 86 | 1,221 + 217 = 1,438 | 5.98% |
| August 2012 | 87 | 1,198 + 198 = 1,396 | 6.23% |
| September 2012 | 69 | 1,138 + 242 = 1,380 | 5.00% |
| October 2012 | 80 | 1,104 + 157 = 1,261 | 6.34% |
| November 2012 | 53 | 973 + 106 = 1,079 | 4.91% |
| December 2012 | 36 | 872 = 72 = 944 | 3.81% |
The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for Country Residential Properties year over year for the month of December for the last five years.
| Month/Year | Country Residential Sales | Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| December 2008 | 28 | 876 + 123 = 999 | 2.80% |
| December 2009 | 37 | 743 + 75 = 818 | 4.52% |
| December 2010 | 28 | 858 + 64 = 922 | 3.04% |
| December 2011 | 48 | 894 + 100 = 994 | 4.83% |
| December 2012 | 36 | 872 = 72 = 944 | 3.81% |
The MLS® Home Price Index (HPI) does not include a Benchmark Price for Country Residential property. Therefore we will continue to report the Country Residential Median Price.
For those of you who are thinking about making a move in 2013 please review the tables above to see when the highest absorption rate occurs for your market segment. Because of all of the factors that affect our real estate market it is impossible to accurately predict future market conditions. However considering that the absorption rates for the Single Family and Condominium markets are much higher than the beginning of 2012, it is reasonable to expect an even better and earlier Spring market this year.
When the time comes we would love to be of service!
Hope this helps,
Susanita de Diego
CALGARY RESALE MARKET REMAINS IN BALANCE
Inventories continue to fall, but sales growth eases to keep market stable
Calgary, Dec. 3, 2012 – Residential sales in the City of Calgary have increased by 15 per cent on a year-to-date basis, and were up 8-per-cent in November compared to the same month in 2011.
Read More: http://www.creb.com/public/seller-resources/monthly-housing-summary.php Click “November 2012”
Does the data support the headlines? The following table shows of Single Family homes sold compared to the available inventory defined as the absorption rate for Single Family homes in Metro Calgary each month since November of last year.
| Month/Year | Single Family Sales | Previous Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| November 2011 | 962 | 4,486 + 1,285 = 5,771 | 16.67% |
| December 2011 | 722 | 3,761 + 760 = 4,521 | 15.97% |
| January 2012 | 773 | 2,761 + 1,739 = 4,500 | 17.18% |
| February 2012 | 1,284 | 2,980 + 1,998 = 4,978 | 25.79% |
| March 2012 | 1,576 | 3,158 + 2,351 = 5,509 | 28.61% |
| April 2012 | 1,582 | 3,367 + 2,285 = 5,652 | 27.99% |
| May 2012 | 1,710 | 3,501 + 2,706 = 6,207 | 27.55% |
| June 2012 | 1,609 | 3,842 + 2,372 = 6,214 | 25.89% |
| July 2012 | 1,386 | 3,817 + 1,878 = 5,695 | 24.34% |
| August 2012 | 1,169 | 3,646 + 1,811 = 5,457 | 21.42% |
| September 2012 | 1,132 | 3,535 + 1,888 = 5,423 | 20.87% |
| October 2012 | 1,174 | 3,486 + 1,616 = 5,102 | 23.01% |
| November 2012 | 1,006 | 3,114 + 1,157 = 4,271 | 23.55% |
The following table shows 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 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% |
| November 2012 | 1,006 | 3,114 + 1,157 = 4,271 | 23.55% |
The MLS® Home Price Index (HPI) was launched on February 6, 2012 as part of a nationwide rollout involving boards in Canada’s largest cities because average and median price changes can misrepresent changes in market price. We often refer to the median price as being immune from outliers. However, if there have been large movements in either the low end or high end of the price spectrum, the median is unable to reflect the price changes.
The MLS® Home Price Index (HPI) was introduced to provide a better measurement of price and price trends for residential properties. A benchmark home is one that is comprised of a set of specific attributes that is typical for the area where it is located.
The Single Family Benchmark 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 | Previous Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| November 2011 | 393 | 1,935 + 562 = 2,497 | 15.74% |
| December 2011 | 310 | 1,676 + 324 = 2,000 | 15.50% |
| January 2012 | 305 | 1,287 + 815 = 2,102 | 14.51% |
| February 2012 | 453 | 1,450 + 886 = 2,336 | 19.39% |
| March 2012 | 591 | 1,641 + 1,001 = 2,642 | 22.37% |
| April 2012 | 618 | 1,725 + 953 = 2,678 | 23.08% |
| May 2012 | 675 | 1,769 + 1,096 = 2,865 | 23.56% |
| June 2012 | 593 | 1,879 + 940 = 2,819 | 21.04% |
| July 2012 | 550 | 1,898 + 782 = 2,680 | 20.52% |
| August 2012 | 556 | 1,784 + 774 = 2,558 | 21.74% |
| September 2012 | 485 | 1,649 + 792 = 2,441 | 19.87% |
| October 2012 | 491 | 1,612 + 696 = 2,308 | 21.27% |
| November 2012 | 451 | 1,491 + 474 = 1,965 | 22.95% |
The following table shows 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 2008 | 741 | 2,640 + 741 = 3,381 | 21.92% |
| November 2009 | 504 | 1,482 + 705 = 2,287 | 22.04% |
| November 2010 | 310 | 2,042 + 632 = 2,674 | 11.59% |
| November 2011 | 393 | 1,935 + 562 = 2,497 | 15.74% |
| November 2012 | 451 | 1,491 + 474 = 1,965 | 22.95% |
One of the best features of the MLS® Home Price Index (HPI) is the separation of the Condominium data into two categories; Condo Apartments and Condo Townhomes.
The Condominium Median Price has shown the following progression:
The Calgary Real Estate Board offers a Certified Condominium Specialist designation upon completion of a three day course.
Coldwell Banker Your Calgary Home Selling Team offers several Realtors who have earned this designation.
The following table shows the absorption rate of Country Residential each month since November of last year.
| Month/Year | Country Residential Sales | Previous Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| November 2011 | 54 | 1,032 + 491 = 1,532 | 3.52% |
| December 2011 | 48 | 894 + 100 = 994 | 4.83% |
| January 2012 | 40 | 703 + 219 = 922 | 4.34% |
| February 2012 | 66 | 783 + 221 = 1,004 | 6.57% |
| March 2012 | 76 | 863 + 306 = 1,169 | 6.50% |
| April 2012 | 90 | 962 + 256 = 1,218 | 7.39% |
| May 2012 | 97 | 1,044 + 350 = 1,394 | 6.96% |
| June 2012 | 96 | 1,190 + 288 = 1,478 | 6.50% |
| July 2012 | 86 | 1,221 + 217 = 1,438 | 5.98% |
| August 2012 | 87 | 1,198 + 198 = 1,396 | 6.23% |
| September 2012 | 69 | 1,138 + 242 = 1,380 | 5.00% |
| October 2012 | 80 | 1,104 + 157 = 1,261 | 6.34% |
| November 2012 | 53 | 973 + 106 = 1,079 | 4.91% |
The following table shows the percentage of properties sold compared to the available inventory or the absorption rate for Country Residential Properties year over year for the month of November for the last five years.
| Month/Year | Country Residential Sales | Month End Inventory + Inventory Added During the Month | Percentage of Available Inventory Sold |
| November 2008 | 28 | 876 + 123 = 999 | 2.80% |
| November 2009 | 57 | 804 + 151 = 955 | 5.97% |
| November 2010 | 52 | 949 + 125 = 1,074 | 4.84% |
| November 2011 | 54 | 1,032 + 491 = 1,532 | 3.52% |
| November 2012 | 53 | 973 + 106 = 1,079 | 4.91% |
The MLS® Home Price Index (HPI) does not include a Benchmark Price for Country Residential property. Therefore we will continue to report the Country Residential Median Price.
As predicted the increased sales activity continued well into November which is reflected in the slight increase of the absorption rate in both the Single Family and Condominium markets.
While December is traditionally our slowest sales month, those who are looking at Real Estate in December are usually very serious Buyers. In addition many corporate relocations occur at the end or beginning of the year.
For those of you who are thinking about making a move in 2013 please review the tables above to see when the highest absorption rate occurs for your market segment. Because of all of the factors that affect our real estate market it is impossible to accurately predict future market conditions. However considering the above data, it is reasonable to expect a similar market next year.
When the time comes we would love to be of service!
Hope this helps!
Susanita de Diego
Susanita's Calgary Real Estate Commentary 