The number of total sales continues to stabilize with total sales this year even with last year. Keep in mind last year was not a good year for sale, but this marks a big improvement from the beginning of 2019. The stabilization in the market is heavily impacted by the decrease in new listings – we have a 13% decline in total inventory, representing about 1,000 fewer homes on the market versus the same time in 2018.
Looking for detailed market insight for your community or on a community you are interested in – just let us know and we will prepare all the information you need to make the right real estate decisions!
Absorption Rate: (0 to 2 months of supply is a seller’s market, 2 to 3.5 months of supply is balanced, and 4 or over becomes a buyer’s market)
- City of Calgary: 2019 – 4.44 versus 2018 – 5.5 months of supply
- Single Family Detached: 2019 – 3.9 versus 2018 – 4.8 months of supply
- Attached Homes: 2019 – 4.7 versus 2018 – 6.3 months of supply
- Apartment Condos: 2019 – 5.8 versus 2018 – 6.9 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: 2019 – 0.57 versus 2018 – 0.49 sales for every new listing
- Single Family Detached: 2019 – 0.6 versus 2018 – 0.51 sales for every new listing
- Attached Homes: 2019 – 0.56 versus 2018 – 0.46 sales for every new listing
- Apartments: 2019 – 0.5 versus 2018 – 0.44 sales for every new listing
August Total Sales: Up 6.2% versus 2018
Year to Date Total Sales: Even!
August New Listings: Down 9% versus 2018
August Total Inventory: Down 13%
August Benchmark Pricing: Down 2.6%
The increase in sales combined with the decrease in new listings is stabilizing the market. If you are looking to buy, invest, or move to a more expensive property – the best opportunity window we have seen in years is starting to close!
Certain markets and price ranges have stabilized, and many others are getting very close. If you are thinking about a move, we would love to hear what your goals are! We are here to make your dreams and goals a reality.
All the money is made in your purchase! We are telling all our clients this right now. 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!