October 1-28, 2013 Calgary Real Estate Market Update

Homeowners have finally taken notice that the market is brisk and commanding top dollar.

New listings have surged nearly 9% this month compared to last October, and up from the 4.33% y/y increase in September.  Below  is the month-to-date breakdown per housing category, with the September y/y figure in brackets:

New Listings

  • Single family home:  +5.82% y/y   (+4.66% )
  • Condo-Townhome: +21.34% y/y   (+21.55%)
  • Cond0-Apartment: +13.33% y/y   (-7.26%)

Generally this would point to softening market conditions, but the increase in sales this month has easily absorbed the new inventory and active listings remain -20% below year ago levels.

Year-over-year so far in October, single family home sales are up 14.45%, Condo-Townhome +23.08% and Condo-Apartment +21.49%.  In fact, sales have already surpassed last October’s month-end total.

The sales-to-new-listings ratio remains firmly above 70% for all three housing categories.  Anything above 60% is considered a seller’s market.

Average price appreciation y/y for single family homes has slowed to a  more stable 5% while the condo market has seen price growth accelerate.

Below are the month-to-date  y/y price gains and September’s figures in brackets.

Single Family Homes

  • Average price:  +4.99% (+9.2%)
  • Median:  +5.58% (+9.02%)

Condo-Townhomes

  • Average price: +16.03%  (+2.95%)
  • Median: +9.91% (+6.90%)

Condo-Apartments

  • Average price: +8.87%  (+4.38%)
  • Median: +10.76%   (+9.13%)
Home Sales, Y/Y Comparison

Home Sales, Y/Y Comparison

Weekly Stats

Statistic Summary: Y/Y Comparison

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