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Real Estate

NEWSLETTER

 

Peter Kusch

Tel.:990-7990

 

 September 2017


 

 

INVENTORY IS RAISING

Inventories rose across all districts in August. The largest number of units added occurred in the City Centre and all North districts. The rise in City Centre inventories was primarily caused by gain in higher density product, while gains in all North districts was mostly due to detached activity. 

Detached prices vary significantly by district, with the highest prices recorded in the West end at $738,900 and the lowest prices in the East district at $356,700. Overall prices appear to be stabilizing in most districts, with stronger price gains recorded in the City Centre and West districts. 

Apartment price declines continue to occur across all districts. Declines averaged from a low of 2.5 per cent in the West district to a high of 6.6 per cent in the North district. The City Centre contains the most apartment style product. Within the City Centre, year-to-date apartment prices have fallen by nearly four per cent compared to 2016, while 2016 recorded an annual decline of nearly 14 per cent below 2014 peak levels.

Attached prices were relatively stable at $336,300 in August. This is similar to last month, but 1.5 per cent higher than last year. Despite recent growth for the row segment, August row prices remain well below peak at 6.8 per cent. Semidetached prices are only 2.9 per cent below peak pricing

 

 Average days on the market (Calgary Meto)

 

 

Average days on the market in 

August 2017

Average days on the market in  

August 2016

 

Detached  

 

40

41

 

Attached

 

62

52

 

Apartments

 

63 60

 

 Attached category includes condominium townhouses and duplexes.

  

Median price (Calgary Metro)

 

 

Median price in  

August 2017

Median price in  

​August 2016

Percentage change

 

Detached

 

  $490,000

$467,500

4.8%

 

Attached

 

$352,250

$333,000

5.9%

 

Apartments

 

$255,000

$271,500

-6.1%

 

The median price is where half sell for more and half for less.

 

Months of supply (Calgary Metro)

 

January 2014 1.57
February 2014 1.47
March 2014 1.26
April 2014 1.55
May 2014 1.57
June 2014 1.82
July 2014 2.05
August 2014 2.07
September 2014 2.13
October 2014 1.97
November 2014 2.16
December 2014 2.99
January 2015 5.31
February 2015 4.57
March 2015 3.19
April 2015 2.85
May 2015 2.44
June 2015 2.32
July 2015 2.53
August 2015 3.16
September 2015 3.85
October 2015 3.93
November 2015 4.21
December 2015 4.94
January 2016 6.57
February 2016 5.04
March 2016 3.83
April 2016 3.54
May 2016 3.20
June 2016 2.95
July 2016 3.26
August 2016 3.61
September 2016 3.97
October 2016 3.30
November 2016 4.06
December 2016 4.04
January 2017 4.36
February 2017 3.35
March 2017 2.71
April 2017 2.90
May 2017 2.95
June 2017 3.12
July 2017 4.08
August 2017 4.13

 

 

 Source: Calgary Real Estate Board

Calgary Metro-within Calgary City Limits