The trend continues with sales remaining stable and new listing trending fewer than 2018.
The absorption rates versus a year ago are very encouraging sitting at about 2-4 weeks shorter. The exception to this is in the apartment condominium sector which saw a marked drop in sales of over 21% this November versus last November
The number of sales to new listing coming onto the market is also very positive. We are seeing improvements versus last year and month over month improvements as well. These numbers are showing more stable market conditions moving forward. Again, the apartment style condominiums will be one segment to watch. Were the November numbers just a temporary fall off or a trend?
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! Click here now!
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 versus 2018 – 5.6 months of supply
- Single Family Detached: 2019 – 4.1 versus 2018 – 5.2 months of supply
- Attached Homes: 2019 – 5.82 versus 2018 – 6.7 months of supply
- Apartment Condos: 2019 – 7.5 versus 2018 – 5.5 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 – 0.63 versus 2018 – 0.61 sales for every new listing
- Single Family Detached: 2019 – 0.75 versus 2018 – 0.63 sales for every new listing
- Attached Homes: 2019 – 0.57 versus 2018 – 0.53 sales for every new listing
- Apartments: 2019 – 0.42 versus 2018 – 0.70 sales for every new listing
November Total Sales: Down 1% versus 2018
Year to Date Total Sales: Up 1.1%
November New Listings: Down 3.5% versus 2018
November Total Inventory: Down 10.4%
November Benchmark Pricing: Down 2.3%
If you are considering a move, please let us know. We are happy to sit down and discuss your situation. What is your current situation/value of your home, what marketing program is needed to sell it for top dollar, and then what will the new purchase look like for you? What is your goal for buying, selling, or investing? We have the proven track record and experience to help guide you through the Real Estate process!
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! We have connections to the top professionals around the world if you are looking for Real Estate advice outside of the Calgary area.