A couple of interesting trends to note. One, the market is far healthier than it was a year ago. As we continue to stabilize with far fewer new listings coming to market, the prices are stabilizing. In addition, we see a 1 to 2 month DECREASE in the absorption rate. Secondly, as we move through the fall, the market is far better for selling. The absorption rate is lower in October than it was in September which is better for selling and the sales to new listing ratio is increasing which is also better for selling.
Conclusion: if you want to get your home sold, now is when you should have your home for sale. The opportunity to sell is better now than in previous months with lower absorption rates and more sales occurring for every new listing coming to market.
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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 – 4.5 versus 2018 – 5.6 months of supply
- Single Family Detached: 2019 – 4 versus 2018 – 4.8 months of supply
- Attached Homes: 2019 – 4.7 versus 2018 – 6.6 months of supply
- Apartments: 2019 – 5.9 versus 2018 – 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 – 0.61 versus 2018 – 0.54 sales for every new listing
- Single Family Detached: 2019 – 0.64 versus 2018 – 0.6 sales for every new listing
- Attached Homes: 2019 – 0.57 versus 2018 – 0.48 sales for every new listing
- Apartments: 2019 – 0.56 versus 2018 – 0.45 sales for every new listing
October Total Sales: Up 9.6% versus 2018
Year to Date Total Sales: Up 1.37%
October New Listings: Down 2.5% versus 2018
October Total Inventory: Down 11.5%
October Benchmark Pricing: Down 2.2%
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!