Blog

MARCH 2019

We are just a few days past from last day of March, so it is once again time for another look at the market and evaluate what’s happened last month.  Calgary currently has 6595 listings on the market, and at the buyers are buying it will take five months to sell what currently is listed.  In Okotoks, there are 244 active listings on the market, and there at the rate buyers are buying it will take just over five months to sell what currently is listed.  Both Calgary and Okotoks have seen signifcant drop in price of homes, with year over year benchmark being 5.4% lower than last year at this time in Calgary and 6.7% lower than last year in Okotoks.

This of course is not great news for sellers but offers great opportunities for buyers.  For more information about your specific neighbourhood please connect with Andrea directly.

FEBRUARY 2019

With February just behind us, it is time for another look at the market.  CREB’s monthly report’s heading for this month tells the story … “Housing Market Feels The Chill as Oversupply Continues”.  So what does this all mean?  In simplest terms, there are more houses for sale than buyers looking to buy.  When supply is greater than demand, then prices are pressured downward.  This this is not great for sellers, but it does offer great opportunities for buyers.  Months of inventory for detached homes in Calgary remains above five months, while prices are over five percent below levels recorded last February.  Okotoks is a similar story, however with even higher months of supply with just over ten months and year over year price decline of just under 5%.

 

JANUARY 2019

With the month of January behind us, our monthly market report identifying how Calgary area’s real estate sales added up is shown below.  Inventory continues to be high and year over year price is down … see breakdown below.  Months of supply is 6.8 for Calgary and 10.5 for Okotoks.

Want to know the forecast for 2019?  Click on the following articles to gain insight or read the excerpt below:

Excerpts from the articles above:

  • Overall prices are expected to decline in 2019 –> Overall decline: -2.34% across the city; -2.27% in the apartment sector; -2.49% in the attached sector; -2.33% in the detached sector.   (CREBNow)

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DECEMBER 2018

How did December wrap up?  In Calgary, there were 4904 active listings with 794 sold homes, yielding a 6.2 months of inventory on the market.  In Okotoks, there were 201 active listings with only 14 sold homes, yielding a 14.4 months of inventory on the market.  Prices are down 3.5% in detached market from last year at this time, and down 2.5% for the apartments.  See detailed breakdown below.

 

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NOVEMBER 2018

November’s market numbers are shown below for both Calgary and Okotoks.  In Calgary, there were 6501 active listings with 1171 sold homes, yielding a 5.6 months of inventory on the market.  In Okotoks, there were 227 active listings with only 21 sold homes, yielding a 10.8 months of inventory on the market.  Prices are down 3.4% in detached market from last year at this time, and 2.2% and 3.3% down for the apartments and attached homes.

 

It is important to keep in mind that statistics differ for each neighbourhood within Calgary and Okotoks, and numbers below show overall averages and trends only.  To obtain statistics specific to your neighbourhood please connect with Andrea.

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