As we move into 2019 the continued slow economic growth and job uncertainty in Alberta are reflected in higher inventories and not enough buyer demand. Any pick up in job growth and economic optimism that equates to increased buyer demand will cause a significant shift in our market.
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 months of supply
- Single Family Detached – 5 months of supply
- Attached Homes – 7 months of supply
- Apartment Condominiums – 9 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 – 0.44 sales for every new listing
- Single Family Detached – 0.5 sales for every new listing
- Attached Homes – 0.4 sales for every new listing
- Apartments –0.33 sales for every new listing
Year to Date Total Sales: Down 13%
New Listings: Down 1.5%
Total Inventory: Up 13%
All the numbers above are better than January! We are moving in the right direction…. slowly, but still moving.
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!