May 1-21, 2014 Calgary Real Estate Market Update

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.

Single family sales and median prices, Y/Y comparison for May 1-21

Single family sales and median prices, Y/Y comparison for May 1-21

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:

Pre-bidding will be available to help determine the opening bid on June 3rd 2014 and then at 6:45pm the home auction will begin. The home will be sold with the furniture, blinds and all the upgrades that were built into the home. If you haven’t already done so, visit the showhome at 183 Auburn Springs Blvd SE during showhome hours to see this beautiful home. With all proceeds going towards a wonderful organization, this is an opportunity for Cedarglen Homes and a lucky buyer to really make a difference! Call Suzan 403-521-5292 ext 306 for more information.

For more information about the charity auction, you can read the following articles:

Calgary real estate stats summary for May 1-21

Calgary real estate stats summary for May 1-21

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