Here’s how the Calgary real estate market in January stacked up compared to January’s of previous years.
The following chart is combined sales (SFH’s and Condos) as this stat used to be recorded as one by CREB.
The chart below depicts median and average condo prices in January since 2004.
The chart below depicts median and average prices in January for Single Family homes:
Will these YoY gains continue into the spring and summer months, when prices reached MLS record highs in Calgary 2007? Will they approach those highs again? What do you think?
Below are the month-end inventories for the past few years. In October 2007, we had a month-end inventory of 5517 Single Family Homes, and 2329 condos so it shouldn’t be a surprise that the inventory will continue to rise as many of those homes were taken off the market to be relisted later (now, or in spring)
We currently have an approximate 4 month supply of SFH’s, and a 5 month supply of condos listed in Calgary (rough approximation: January sales divided by January active listings). Is that enough supply & demand pressure to affect prices?
