Header Image
403-990-7990
Header Image

 
 

 

 

Real Estate

NEWSLETTER

 

Peter Kusch

Tel.: 403-990-7990

 

 January 2021


 

 

THE HOUSING MARKET ENDS 2020 ON A HIGH NOTE

With December sales of 1,199, this is the highest December total since 2007. Housing demand over the second half of 2020 was far stronger than anticipated. Attractive interest rates along with prices that remain lower than several years ago have likely supported some of the recovery.

Detached: Stronger sales in the second half of the year were enough to offset earlier pullbacks as detached sales totalled 9,950, just slightly higher than last years' levels. Despite the modest gain, detached sales activity remains at the lower levels recorded since the stress test was introduced in 2018. Despite some of the annual shifts seen, prices remain well below previous highs in all districts of the city.

Semi-Detached: Sales growth in the North East, North, West and South East district was offset by declines in the City Centre, North West, South and East districts. Sales this year of 1,663 were similar to levels recorded last year. Citywide semi-detached prices eased by over 1% in 2020, with the largest declines occurring in the City Centre, North West and West areas.

Row: Row sales totalled 2,145 in 2020, nearly 2% higher than last years' levels. Despite the gains, levels continue to remain below long-term averages for the city. The annual prices eased by nearly 2% compared to the previous year and remain nearly 14% below previous highs.

Apartments: Sales number this month was the best December since 2014. However, it was not enough to offset earlier pullbacks as apartment condominium sales eased by 10% in 2020. This is the slowest year for apartment condo sales since 2001 and the only property type to record a significant annual decline in sales. On an annual basis, the benchmark price declined by over 2% this year and is over 16% below the highs set in 2015.

 
 
 

 The average number of days on the market (Calgary Metro)

 

 

Average days on the market in 

December 2020

Average days on the market in 

December 2019

 

Detached  

 

53

65

 

Apartment

 

73

71

 

Row

 

67 64

 

Semi-detached

 

 

61

 

 

66

 

 

Median price (Calgary Metro)

 

 

Median price in  

December 2020

Median price in

December 2019

Percentage change

 

Detached

 

  $458,500

$460,000

-0.3%

 

Apartment

 

$212,500

$248,500

-14.5%

 

Row

 

$272,350

$277,000

-1.7%

 

Semi-detached

 

 

$369,750

 

 

$418,50

 

 

-11.7%

 

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

 

Months of supply (Calgary Metro)

 

January 2018 4.83
February 2018 4.73
March 2018 4.64
April 2018 4.82
May 2018 4.91
June 2018 4.65
July 2018 5.46
August 2018 5.47
September 2018 6.28
October 2018 5.56
November 2018 5.55
December 2018 6.18
January 2019 6.81
February 2019 6.03
March 2019 4.96
April 2019 4.57
May 2019 3.89
June 2019 4.24
July 2019 4.36
August 2019 4.45
September 2019 5.02
October 2019 4.49
November 2019 5.05
December 2019 5.30
January 2020 5.87
February 2020 4.59
March 2020 4.91
April 2020 9.71
May 2020 5.38
June 2020 3.66
July 2020 3.62
August 2020 4.11
September 2020 3.66
October 2020 3.31
November 2020 3.50
December 2020 3.06

 

 

 Source: Calgary Real Estate Board

Calgary Metro-within Calgary City Limits