September 1-14, 2015 Calgary Real Estate Market Update

Last week’s “chill in the air” update wasn’t hyperbole.  It’s shaping up to be a frosty September for Calgary real estate.

Through two weeks, home sales backed off further in comparison to last year (-32.3%), the 5-year average (-15.9%), and the 10-year average (-13%).  If this pace continues, it will be the second slowest September in a over a decade.

Calgary home sales Sept 14 2015

Calgary home sales, Sept 1-14, Y/Y comparison

The overall sales-to-new-listing-ratio edged closer to buyer’s market territory, now at a cool 41.3% compared to 57.5% the same time a year ago.

Throughout this year, the pullback in new listings have countered the low sales and averted any significant price declines.  Keep an eye on new listings as the year-over-year gap has narrowed.  A month ago, new listings were down nearly -13%.   Today, the difference has shrunk to only -5.7%.

Winter Is Coming

Sales ratio Sept 14 2015

Sales-to-new-listings ratio, September 1-14, 2015

Calgary luxury home sales Sept 14 2015

Calgary luxury home sales, September 1-14, Y/Y comparison

Calgary New Listings Sept 14 2015

Calgary New Listings, Sept 1-14, Y/Y comparison

Calgary Real Estate Stats Summary -Sept 14 2015

Calgary Real Estate Stats Summary, Sept 1-14, Y/Y comparison

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