Market Stays Stable as We Approach Christmas

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?

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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 – 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%

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Calgary Real Estate Stats November 2019