Calgary single family homes sales in September were up over 8% from last year, ending with 1036 transactions. Prices followed suit as both the average and median price were up year-over-year: 1.27% and 2.56% respectively.
Unlike last year, the market slowed from August with sales dropping 6%. However the average price increased nearly 3% as the luxury segment ($1M+) saw more activity both y/y and m/m (see daily stats) The median price edged slightly lower to $400,000.
SFH Weekly Sales (click to enlarge image)
SFH Pending Sales (click to enlarge)
SFH year-over-year price change (click to enlarge image)
SFH Price Range (click to enlarge image)
The condo market was considerably more robust than last September with sales up over 17%. Average prices were up 5.45% to $299,508 and nearly breached the $300k mark for the first time dating back to May 2010. The median slipped approx 2% to $260,000.
Month-over-month the average price was up almost 5% with the median increasing 2%. Sales slowed down 8%.
Condo Weekly Sales (click to enlarge image)
Condo Pending Sales (click to enlarge)
Condo year-over-year price change (click to enlarge image)
Condo Price Range (click to enlarge image)
Good graphs Mike, especially the year over year change for SFH and condos. It would be interesting too see them including 04 and 05 or even further back to see the fluctuations before the booming market in 05.
Thanks, John – the price range and y/y graphs are from CREB so I can’t take credit for those. I’ll ask and see if Ann-Marie Lurie (our economist) can make them show a few additional years.
Quotable from today’s Calgary Herald
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Maybe it’s too early yet for me, but I’m not sure where those quoted stats are coming from. CREB’s September stat package shows an YTD y/y increase of 9.78%.
And is this “definitely” a balanced market?
Bloomberg: October 5, 2011
Canadian Finance Minister Jim Flaherty said he’s not planning further action to cool the country’s housing market.
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Reuters: October 5, 2011
Asked at a news conference in New York what it would take for Canada to act again to cool the market, he said: “It will take clear evidence of a bubble in the housing market in Canada, which we have not seen.”
Given low interest rates, the level of housing demand in Canada is not surprising, Flaherty said. But he added: “We have seen in the past year some softening in the Canadian housing market, in part due to the tightening of the insured mortgage market rules that we did earlier this year… That’s an appropriate result from that tightening.”
Hi John, here are the y/y charts you requested, courtesy of Ann-Marie.
Hi Mike
is there such a thing as a ‘private listing’ where an agent installs a for sale sign on the lawn but does not do an mls listing? How might this impact the sales figures
The reason I asked the above question is that this is occurring on a house I was interested in. The agent, when asked, replied that he ‘wasn’t too serious’ and didn’t want to ‘add too many days on the market’. He implied I would have known this if I was in the industry. I figure this is B.S and the agent is operating disingenuously. Of course the agent took offence to this comment. It just appears to have the hallmark of a failed flip, it was listed for many months, was vacant last winter and rarely shovelled, needs exterior work, etc.
Hi Shenyyc,
Yes, they are also referred to as ‘exclusive listings’. The agent wants the right to sell it himself without having to cooperate with any other brokerages, which he would have to if it were on MLS.
Here is some more info from another agent’s site: click here