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403-990-7990
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Real Estate

NEWSLETTER

 

Peter Kusch

Tel.: 403-990-7990

 

 August 2020


 

 

THE SALES ARE IMPROVING BUT ECONOMIC UNCERTAINTY REMAINS

 

 
With higher sales for both detached and semi-detached product, July sales totals rose above last year's level. Despite the improvements in July, year-to-date sales remain 15% lower than last year's levels.

I think that it's too early to say things are shifting back to normal. We are still facing record-high unemployment rates, significant government aid and uncertainty throughout the business community. This will continue in the coming months. Some of the recent real estate gains reflect the action of the people who didn't purchase anything in April and May.

Here are a few numbers showing year-to-date real estate activity:

  • Total sales are 15% lower.
  • New listings are 13% lower.
  • The inventory of homes for sale is down 13%.
  • Months of supply, which is the amount of time to sell the inventory with the current demand, increased by 2.4% to 5 months.
  • The sale to list price ratio dropped very slightly from 96.6% to 96.35%.
  • The median price of $407,000 in 2020 was down1.8% from 414,500 in 2019.
  • The average sale price of $451,832 was down 2.1% from $461,458 last year.
  • 48% of all sales were sales of properties under $500,000.
 
 

 

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

 

 

Average days on the market in 

July 2020

Average days on the market in  

July 2019

 

Detached  

 

46

50

 

Apartment

 

66

76

 

Attached

 

46 69

 

Semi-detached

 

 

57

 

 

63

 

 

 

Median price (Calgary Metro)

 

 

Median price in  

July 2020

Median price in

July 2019

Percentage change

 

Detached

 

  $480,000

$469,000

2.4%

 

Apartment

 

$238,800

$250,000

-4.5%

 

Row

 

$288,600

$288,750

-0.05%

 

Semi-detached

 

 

365,086

 

 

408,750

 

 

-10.7%

 

 

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

 

Months of supply (Calgary Metro)

 

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 4.12
August 2017 4.15
September 2017 4.71
October 2017 4.41
November 2017 4.03
December 2017 4.29
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

 

 

 Source: Calgary Real Estate Board

Calgary Metro-within Calgary City Limits