The Calgary and Area Real Estate market had a slow start in January, but the recent activity over the first couple of weeks in February are painting a bit better picture. The numbers are improving versus January!
Here are the key numbers for last month:
Absorption Rate: (0 to 2 months of supply is a seller’s market, 2 to 3.5 months of supply is balance, and 4 or over becomes a buyer’s market)
- City of Calgary – 6.8 months of supply
- Single Family Detached – 5.8 months of supply
- Attached Homes – 7.6 months of supply
- Apartment Condominiums – 9.3 months of supply
Sales to New Listings: (Ratio of under 0.6 indicates more of a buyer’s market, 0.6 to 0.8 indicates a balanced market, and over 0.8 indicates movement towards a seller’s market)
- City of Calgary – 0.31 sales for every new listing
- Single Family Detached – 0.36 sales for every new listing
- Attached Homes – 0.28 sales for every new listing
- Apartments –0.24 sales for every new listing
Year to Date Total Sales: Down 16%
New Listings: Up 5%
Total Inventory: Up 18%
While the January numbers look discouraging, the first couple weeks of February are telling a different story. The last couple of weeks show the sales on par with last year and the new listings coming to the market are staying relatively flat. It looks like we could see some stabilization over the next 30-60 days.
All the money is made in your purchase! We are telling all our clients this right now. Yes, it is true, you won’t get as much for your existing property as you did a few years ago. But there are AMAZING deals in this market. If you want to find the best deals and negotiate a great purchase contract, call us! We can help you achieve your real estate goals. DON’T TRY AND BUY WITHOUT GETTING THE BEST ADVISE AND DON’T BUY WITHOUT YOUR OWN INDEPENDENT REPRESENTATION LOOKING OUT FOR YOUR BEST INTERESTS!
If you are thinking of buying, selling, or investing in Calgary and the Surrounding Area we are here to help you achieve your real estate Goals!