April 1-14, 2014 Calgary Real Estate Market Update

Calgary real estate remains entrenched in a seller’s market nearly midway through April for all three housing categories.

Single family homes:  sales are up 9% y/y with 798 sales so far this month.  The sales-to-new-listings ratio is  65.88%, inventory absorption rate is 1.3 months and 21.7% of buyers have paid over the asking price.  Inventory remains -23.84% below a year ago.    No matter which way you look at it, single family homes are a hot commodity in Calgary.

Condo-Apartments:  there have been 15 more units sold month-to-date compared to the same period last year which translates into a 7.46% increase.  Interestingly, only April 2007 had more sales at this point of the month.  The 18.97% jump in new listings is helping ease the supply crunch as inventory is now up 2.37% y/y.   The condo market is still leaning in favor of sellers with a 62.61% sales-to-new-listings ratio, but less so than a year ago when the ratio stood at 69.31.   There is currently a 2.1 month supply available.

Condo-Townhomes:  month-to-date sales are flirting with April 2006/2007 levels and are up 8.61% y/y.   The sales-to-new-listings ratio is at a strong 69.2%.  While new listings have risen nearly 5% from last year, inventory remains -18.45% lower.  At this point there is only a 1.2 month supply available, even lower than SFH if you can believe that.

Calgary sales April 1-14 2014

Calgary sales April 1-14 2014

Calgary luxury sales April 1-14 2014

Calgary luxury sales April 1-14 2014

Calgary stats summary, April 1-14 year-over-year comparison

Calgary stats summary, April 1-14 year-over-year comparison

Please feel free to post your comment or question

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s