The stabilization of the market continued through September. Year-to-date sales are at the same level as last year. The bigger story is the decrease in new listing coming to market. Overall inventory is down about 13.5% with September new listings down 12% versus last year. Much of this is due to the softening of prices. Benchmark pricing is down over 2% from last September with the year-to-date benchmark pricing down almost 4% and average price down close to 5%.
The combination of stable sale, reduced inventory, low interest rates, and recent price decreases all come to together to create some amazing buying opportunities! All the data points are flashing “BUY!” signals right now.
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 – 5.0 versus 2018 – 6.3 months of supply
- Single Family Detached: 2019 – 4.4 versus 2018 – 5.5 months of supply
- Attached Homes: 2019 – 5.7 versus 2018 – 7.4 months of supply
- Apartment Condos: 2019 – 6.4 versus 2018 – 7.7 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 – 0.5 versus 2018 – 0.41 sales for every new listing
- Single Family Detached: 2019 – 0.54 versus 2018 – 0.44 sales for every new listing
- Attached Homes: 2019 – 0.43 versus 2018 – 0.36 sales for every new listing
- Apartments: 2019 – 0.49 versus 2018 – 0.38 sales for every new listing
September Total Sales: Up 8.2% versus 2018
Year to Date Total Sales: Up 0.6%
September New Listings: Down 12% versus 2018
September Total Inventory: Down 13.5%
September Benchmark Pricing: Down 2.1%
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!