Real Estate

NEWSLETTER

 

Peter Kusch

Tel.: 403-990-7990

 

 September 2021


MORE BALANCED MARKET

 

The August sales were 37% higher than last year and 25% higher than long-term trends. The eight-month total of 19,516 sales is higher than the annual figures recorded over the past six years.

Detached

August sales totalled 1,300 units, which is 31% higher than levels recorded last year and well above long-term averages. The months of supply remained just above two months. Following several months of strong price gains, August prices remained relatively stable compared with July figures but were more than 10% higher than levels recorded last year.

Semi-Detached

The year-over-year sales are more than 70% higher than last year. The months of supply rose above three months in August for the first time since October of last year. As of August, the semi-detached benchmark price was $430,000, nearly 10% higher than last month.

Row

The row sales have been strong enough to push the year-to-date number to a new record high. The months of supply fell just below three months in August. The row benchmark price in August pushed above $300,000, 8% higher than last year.

Apartment

Sales activity in August was higher than anything recorded over the past six years, but thanks to continued gains in new listings, inventory levels remain elevated. The months of supply remained above five months in August. The benchmark price was just over 2% higher than last year, but it remains nearly 16% lower than previous highs.

 

 

 

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

 

 

Average days on the market in 

August 2021

Average days on the market in 

August 2020

 

Detached  

 

36

46

 

Apartment

 

63

62

 

Semi-detached

 

38 65

 

Row

 

 

47

 

 

59

 

 

Median price (Calgary Metro)

 

 

Median price in  

August 2021

Median price in

August 2020

Percentage change

 

Detached

 

  $515,000

$474,500

8.5%

 

Apartment

 

$225,000

$228,000

-1.3%

 

Semi-detached

 

$434,000

$416,750

4.1%

 

Row

 

 

$297,250

 

 

$288,500

 

 

3%

 

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
January 2021 3.35
February 2021 2.46
March 2021 1.87
April 2021 1.89
May 2021 2.27
June 2021 2.37
July 2021 2.88
August 2021 2.81

 

 

 Source: Calgary Real Estate Board

Calgary Metro-within Calgary City Limits