all posts marked CREB Market Statistics

HOUSING MARKET FACTS CREB NOV. 2018

Wednesday, December 5, 2018Norm Rousseauposted in CREB Market Statistics

Detached

• Detached sales declined across all districts in November. With citywide sales of 679 units, activity remains 21 per cent below Housing Market Facts for November 2018 with typical levels for the month.

• New listings eased by three per cent compared to last year, due to declines mostly in the North East, North and South East districts. Year-to-date new listings this year have increased in all areas except the North East and East districts.

• Inventories in the detached sector totalled 3,491 units, 26 per cent higher than last year’s levels. Months of supply sits at five months, well above the three-month typical for November.

• Detached benchmark prices totalled $486,000 in November, a one per cent decline over last month and a three per cent decline over last year. This is nearly seven per cent below monthly highs recorded in October 2014.

• Prices have eased across all districts in November. On a year-to-date basis, the largest declines this year have occurred in the North East and North districts. This is likely due to the increased competition from the new-home sector. The districts that remain furthest from price recovery are the North West and South districts.

CREB Stats City of Calgary November, 2018

Wednesday, December 5, 2018Norm Rousseauposted in CREB Market Statistics

Challenging economic conditions continue to impact the resale market

Published December 3, 2018

Sitting below long term Averages

November sales in the city totaled 1,171 units. For the year so far, sales activity has totaled 15,349 units, a 14 per cent decline over last year and nearly 20 per cent below long-term averages. “Recent challenges in the energy sector have weighed on consumer confidence over the past month. Combined with weakness in the employment market and further gains in lending rates, this is impacting ownership demand,” said CREB® chief economist Ann-Marie Lurie.

HOUSING MARKET FACTS

Friday, November 2, 2018Norm Rousseauposted in CREB Market Statistics

Calgary October 2018

Detached

  • Detached sales in October totaled 829 units, for an 8.6-per-cent decline, resulting in a year-to-date decline of 15 per cent. This is the slowest level of detached sales since the late ’90s.
  • Year-to-date, the largest decline in sales occurred in the $600,000 – $999,999 price range, reflecting slow demand coming from move-up buyers.
  • For the second month in a row, new-listing growth eased, helping prevent further inventory gains. However, as this segment remains oversupplied, prices continue to trend down.
  • Detached benchmark prices totaled $490,200 in October. This is below last month and three per cent below last year. On a year-to-date basis, prices remain one per cent below last year’s levels.
  • As of October, year-over-year prices have eased across all districts, with the largest declines occurring in the North East, North West, South and South East districts. This is likely a result of added competition from the new-home sector.

Oversupplied market weighs on prices

Friday, November 2, 2018Norm Rousseauposted in CREB Market Statistics

City of Calgary, November 1, 2018 –

Elevated inventory levels compared to sales, are causing prices to ease further in Calgary’s housing market.
Citywide benchmark prices totaled $426,300 in October, trending down for the fifth consecutive month and resulting in a year-over-year decline of 2.9 per cent.
“Job growth in this city remains a concern, as unemployment levels remain well above levels expected for this year. Rising costs of ownership also continue to weigh on housing demand,” said CREB® chief economist Ann-Marie Lurie.

HOUSING MARKET FACTS

Tuesday, October 2, 2018Norm Rousseauposted in CREB Market Statistics

Attached October 2, 2018

• The attached sector has recorded year-to-date sales of 2,814. This is 15 per cent below last year and 14 per cent below long-term averages.

• With no significant reduction in new listings, inventory levels remained elevated, pushing up months of supply to over seven months.

• Elevated levels of supply compared to demand persisted for both row and semi-detached product types. Like all other sectors, the oversupply has weighed on prices across all districts, except the City Centre, North East and East.

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