Calgary Housing Statistics
Calgary Real Estate Statistics: April 2020
- Days on Market: 60 (Up by 7.1% from a year ago)
- Average Price: $438,854 (Down by 7.3% from a year ago)
- Active Listings: 5,813 (Down by 22.4% from a year ago)
- Sold Listings: 1,080 (Down by 43.6% from a year ago)
- New Listings: 2,418 (Down by 29.2% from a year ago)
- Sold to List Price Ratio: 95.81% (Down by 0.90% from a year ago)
- Sold Above Asking Price: 84 (Down by 91.7% from a year ago)
- Months of Inventory: 5.38 (Up by 37.7% from a year ago)
- Odds of Selling: 18.6% (Down by 7.0% from a year ago)
Calgary Housing Prices
|2019 - May||2020 - May||Y/Y - % Change|
|Total Sales Volume||$905,853,341||$473,670,685||-47.71%|
|Months of Supply||3.91||5.38||37.67%|
|Sales to New Listings Ratio||56.04%||44.67%||-11.38%|
|Sales to List Price Ratio||96.71%||95.81%||-0.90%|
|Days on Market||56||60||6.76%|
Number of Days it Takes to Sell a Home in Calgary (DOM)
In May 2020, the number of days an average property listed on the market was for 60 days. In the same month of 2019, the average MLS® listing in Calgary sold in 56 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 $438,854 in May 2020. Currently, it compares to be 7.3% less than in the same month of 2019 when the combined price of single-family, condominiums and attached homes were recorded at $473,030.
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 May, the number of active listings in Calgary was recorded at 5,813 units, it is a decrease of 22.4% compared to May of 2019 when 7,487 homes were listed for sale in Calgary, AB.
Number of Homes Sold in Calgary
The number of sold homes in Calgary last month was 1,080 properties. It is reflecting the effects of the COVID-19 pandemics when compared to April's numbers at 573 sold units or an increase of 88.5%. On a year-over-year comparison, the number of sold units decreased by 43.6%.
New Listings in Calgary
When compared to the same month in 2019, the number of new listings in Calgary in May 2020 decreased by 29.2% 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 increased by 69.7% 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 May exceeded 84 listings which represent 7.8% of the total sold listings in Calgary. In the same month of the previous year, 161 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 5.38 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 May 2019, the housing supply was sitting at an inventory of 3.91 months, meaning that buyers are 37.7% less 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 May 2020, a total of 18.6% 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 81.4% 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 7.0% higher success rate as approximately 25.6% of all the listings in Calgary that went up for sale have been sold.