Calgary Housing Statistics
Calgary Real Estate Statistics: March 2020
- Days on Market: 52 (Down by 14.8% from a year ago)
- Average Price: $448,126 (Down by 2.7% from a year ago)
- Active Listings: 5,782 (Down by 12.5% from a year ago)
- Sold Listings: 1,177 (Down by 11.3% from a year ago)
- New Listings: 2,418 (Down by 18.8% from a year ago)
- Sold to List Price Ratio: 96.39% (Down by 0.18% from a year ago)
- Sold Above Asking Price: 107 (Up by 8.4% from a year ago)
- Months of Inventory: 4.91 (Up by 1.4% from a year ago)
- Odds of Selling: 20.4% (Up by 0.3% from a year ago)
Calgary Housing Prices
|2019 - March||2020 - March||Y/Y - % Change|
|Total Sales Volume||$610,907,837||$527,444,061||-13.66%|
|Months of Supply||4.98||4.91||-1.39%|
|Sales to New Listings Ratio||44.56%||48.68%||4.12%|
|Sales to List Price Ratio||96.57%||96.39%||-0.18%|
|Days on Market||61||52||-14.57%|
Number of Days it Takes to Sell a Home in Calgary (DOM)
In March 2020, the number of days an average property listed on the market was for 52 days. In the same month of 2019, the average MLS® listing in Calgary sold in 61 days. This figure is composed of all listings on the Calgary MLS® System, including condominiums: apartments, townhouses and single-family and attached houses within the boundaries of Calgary city limits.
Average Real Estate Prices in Calgary
The average price of a home in Calgary was $448,126 in March 2020. Currently, it compares to be 27% less than in the same month of 2019 when the combined price of single-family, condominiums and attached homes were recorded at $460,368.
Active MLS® Listings in Calgary
Active listings on the market in Calgary can often be the indication of a shifting market as real estate prices can be influenced by the difference between the supply of inventory and the number of buyers being active in the market.
On the last day of March, the number of active listings in Calgary was recorded at 5,782 units, it is a decrease of 12.5% compared to March of 2019 when 6,611 homes were listed for sale in Calgary, AB.
Number of Homes Sold in Calgary
The number of sold homes in Calgary last month was 1,177 properties. It is reflecting the effects of the COVID-19 pandemics when compared to February's numbers at 1,197 sold units or a decrease of 1.7%. On a year-over-year comparison, the number of sold units decreased by 11.3%.
New Listings in Calgary
When compared to the same month in 2019, the number of new listings in Calgary in March 2020 decreased by 18.8% as CREB has recorded 2,418 new listings coming on the market in Calgary. On a month-to-month comparison, the number of new listings in Calgary has decreased by 4.0% which is a result of the seasonal cycle of the real estate market.
Homes Sold Above the Asking Price
The demand for quality homes in Calgary remains as the number of properties that have sold at or above the asking price in March exceeded 107 listings which represent 9.1% of the total sold listings in Calgary. In the same month of the previous year, 98 homes have sold for equal or higher than the initial asking price.
Months of Housing Supply
The pace of the market or months-of-inventory indicates the level of interest of the homebuyers on the street. A typical balanced market can be characterized by a 2-3.5 month of inventory.
Currently, the number of active listings is sitting at a supply of 4.91 months. It means, that if buyers would be acquiring real estate at the same rate, then it would take this many months to buy up all the available inventory if no new listings were to enter the market. In 2019 March, the housing supply was sitting at an inventory of 4.98 months, meaning that buyers are 1.4% more active today to purchase real estate then they were a year ago.
The Odds of Selling a Home
The odds of selling takes into consideration the amount of sold properties compared to all the available listings in Calgary that were on the market in a given month.
Within the City of Calgary, in March 2020, a total of 20.4% of all MLS® listings were sold when compared to the active listings which were recorded on the last day of the month (excluding expired and terminated listings throughout the month). It also means that almost 80% of homeowners did not succeed at selling and they either became an expired listing or have been terminated at the request of the seller. At the same time in 2019, homeowners were able to sell their properties with a 0.3% lower success rate as approximately only 20.1% of all the listings in Calgary that went up for sale have been sold.