September 1-7, 2014 Calgary Real Estate Market Update

September is an interesting month for real estate dynamics.   Note the following statistics for the overall Calgary market:

Sales:  Between August & September, sales invariably cool off.  Well, there was one exception in the past decade – in 2010, sales increased m/m by 7.9%.

New Listings:  More people list their home in September than they do in August.  Again, in the past 10 years there was one instance of new listings dropping between August & September and that was back in 2005.

Fewer sales with more new listings doesn’t generally translate into price growth.  Since 2004, the MLS® Home Price Index level for Calgary from August to September was flat five years, declined three years, and only increased twice.

When comparing month-over-month statistics, don’t forget to take the seasonality of real estate into account.

Sales-to-new-listings ratio september 1-7 2014

Calgary home sales sept 1-7 2014

Calgary home sales Sept 1-7, Y/Y comparison

Calgary luxury home sales sept 1-7 2014

Calgary luxury home sales, Sept 1-7, Y/Y comparison

Calgary-Stats-Sept7-2014

Calgary Stats Summary, Sept 1-7, Y/Y Comparison

One response to “September 1-7, 2014 Calgary Real Estate Market Update

  1. So it means the market behaves normal at this time of the year, however, the price does come down?

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