October 2012 Calgary Real Estate Statistics

Download CREB’s October 2012 Housing Report: click here 

Single Family Homes
Year-over-Year Comparison, October 2011 in brackets

  • Sales were up 19.31% to 1,174 (984)
  • Average price increased 8.21% to $492,776 ($455,392)
  • Median price was up 8.86%  to $430,000 ($395,000)
  • Active listings were down -29.07% to 3,114 (4,390)
  • New listings were down -8.86% to 1,616 (1,773)
  • Days on market: 43 (51)
  • Inventory Absorption Rate: 2.7

Condominium – Apartments

  • Sales were up 27.7% to 272 (213)
  • Average price was up 5.58% to $289,802 ($274,497)
  • Median price was 2.35% to $250,750 ($245,000)
  • Active Listings were down -18.66% to 985 (1,211)
  • New listings were down -9.76% to 416 (461)
  • Days on market: 55 (60)
  • Inventory Absorption Rate: 3.6

Condominiums – Townhomes

  • Sales were up 42.21% to 219 (154)
  • Average price was up 8.61% to $321,643 ($296,138)
  • Median price was up 6.5% to $295,000 ($277,000)
  • Active Listings were down -28.73% to 506 (710)
  • New listings were down -5.41% to 280 (296)
  • Days on market: 50 (51)
  • Inventory Absorption Rate: 2.3

For more statistics please visit my website at:

FindCalgary

Questions? Ready to buy or sell real estate? I can be contacted at mike@findcalgary.com or 403-554-2284

One response to “October 2012 Calgary Real Estate Statistics

  1. Below is ATB’s comment on the housing market (Nov 2, Weekly Economic Bulletin)


    Calgary’s housing market

    While condo developers might be leaving the market in the Greater Toronto Area because of the brisk downturn in sales activity, the same can’t be said for Calgary. According to the Calgary Real Estate Board, sales in September hit 2,160—a 26.9 per cent jump over October of 2011.

    The average residential price was also up 5 per cent year over year in October, hitting $431,860.Alberta and the rest of the country are clearly on different train tracks when it comes to the housing market. Back when Alberta’s home prices were booming, the explanation was pretty straightforward: very high inmigration combined with strong wage growth and the introduction of 40-year mortgages. In retrospect, the market had clearly fed off itself, forming a slight bubble, but it was pretty hard to see the crash coming. [Mike’s note: That is certainly debatable]

    The same can’t be said today in places like Toronto and Vancouver, where it’s far harder to see the fundamental justifications for the rally in home prices, aside from very cheap financing and rumours of offshore money. A bad crash isn’t a certainty, and hopefully we end up with just flat home prices for a while, but there’s a good reason people are concerned and action is being taken to keep it from truly getting out of hand.

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