March 1-14, 2014 Calgary Real Estate Market Update

Calgary sales are up across all three housing categories with overall transactions up 16.45% y/y month-to-date.

Calgary home sales, Y/Y comparison

Calgary home sales, Y/Y comparison

Luxury home sales continue unabated with 33 properties selling for $1M and above and on pace for a new March record.

Calgary luxury home sales, Y/Y comparison

Calgary luxury home sales, Y/Y comparison

Here’s something to keep an eye on in the coming weeks and months:  condo-apartment new listings have jumped 30% and inventory is now above year ago levels by 4%.

The last time apartment month-end inventory was up on an annual basis was briefly back in February 2012. (see charts below)

Countering the rise of apartment listings are sales which have increased by 31% this month.    The sales-to-new-listings ratio is at 60%, the same as this time last year which means it’s right on the cusp between a seller’s and balanced market.   SFH currently have a ratio of 70% and townhomes are at 72% (see stats summary at the end of post)

Condo-Apartment inventory history

Condo-Apartment inventory history

Condo-Apartment inventory Y/Y percent change

Condo-Apartment inventory Y/Y percent change

Calgary Stats Summary

Calgary Stats Summary (click to enlarge)

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