A total of 1,971 Calgary homes have sold month-to-date, a 19% hike from last May during the same period. That’s off -2% from the May 2006 peak which had 2,012 sales through 3 weeks.
Of the three housing categories tracked, (Single family home, Condo-Townhome, Condo-Apartment) only single family homes currently have inventory below year ago levels, as new listings for Apartments & Townhomes have jumped by 30% this month.
Single family prices are also increasing at a faster clip than condos MTD, with the y/y increase for both the average and median price at 7%+ y/y. (see chart below for median prices)
While the sales-to-new-listings ratio still has all 3 housing categories favoring sellers, market conditions for condominiums have eased compared to last May.
Condo-Apts have a sales-to-new-listings ratio of 61.01% compared to 66.99% a year ago. The ratio for Condo-Townhomes has dropped from 83.16% to 70.73% today. On the other hand, SFH market conditions have tightened from a ratio of 62.46% to 66.58%.
A sales-to-new listing ratio below 40% is considered a buyers’ market, while a ratio in between 40% and 60% is balanced, and a ratio above 60% is a sellers’ market.
Calgary Home Being Auctioned For Charity
On June 3, 2014, at 6pm, a Cedarglen Homes showhome located at 183 Auburn Springs Blvd will be auctioned off and the full value of the sale will be donated to Wellspring Calgary, a cancer support charity.
So far there have been 14 bids with the current high at $413,900. According to the listing, the home has been appraised at $595,000.
From the auction website:
For more information about the charity auction, you can read the following articles: