Calgary Housing Statistics
Calgary Real Estate Statistics: March 2018
- Days on Market: 45 (Up by 7.1% from a year ago)
- Average Price: $494,624 (Up by 0.7% from a year ago)
- Active Listings: 6,371 (Up by 24.3% from a year ago)
- Sold Listings: 1,374 (Down by 27.3% from a year ago)
- New Listings: 3,447 (Up by 6.4% from a year ago)
- Sold to List Price Ratio: 97.43% (Up by 0.12% from a year ago)
- Sold Above Asking Price: 171 (Down by 26.9% from a year ago)
- Months of Inventory: 4.64 (Up by 71% from a year ago)
- Odds of Selling: 21.6% (Down by 15.3% from a year ago)
Calgary Housing Prices
|2017 - March||2018 - March||Y/Y - % Change|
|Total Sales Volume||$927,952,974||$679,613,704||-26.76%|
|Months of Supply||2.71||4.64||71.03%|
|Sales to New Listings Ratio||58.33%||39.86%||-18.47%|
|Sales to List Price Ratio||97.31%||97.43%||0.12%|
|Days on Market||42||45||6.36%|
Number of Days it Takes to Sell a Home in Calgary (DOM)
In March 2018, the number of days an average property listed on the market was for 45 days. In the same month of 2017, the average MLS® listing in Calgary sold in 42 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 $494,627 in March 2018. Currently, it compares to be 0.7% more than in the same month of 2017 when the combined price of single-family, condominiums and attached homes were recorded at $490,980.
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.
In the previous month, the number of active listings in Calgary in March 2018 was recorded at 6,371 units, it is an increase of 24.3% compared to March of 2017 when 5,124 homes were listed for sale in Calgary, AB.
Number of Homes Sold in Calgary
The number of sold homes in Calgary last month were 1,374 properties. It is only a modest shift when compared to February's numbers at 1,094 units or an increase of 25.6%. On a year-over-year comparison, sold units had decreased by 27.3%.
New Listings in Calgary
When compared to the same month in 2017, the number of new listings in Calgary in March 2018 increased by 6.4% as CREB had recorded 3,447 new listings coming on the market in Calgary. On a month-to-month comparison, the number of new listings in Calgary had increased by 43.3% which is a result of the seasonal cycle of the real estate market.
Sold Homes Above 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 171 listings which represent about 12.5% of the total sold listings in Calgary. In the same month of the previous year, approximately 26.9% more 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 are sitting at a supply of 4.64 months. It means, that if buyers would be acquiring real estate at the same rate, then it would take these many months to buy up all the available inventory if no new listings were to enter the market. In 2017 March, the housing supply was sitting at an inventory of 2.71 months or buyers were purchasing properties 71% more actively than today.
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 2018, 21.6% of all MLS® listings were sold. It also means that about 78% 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 2017, property owners were able to sell their properties with a 15.3% higher success rate when approximately 36.9% of the listings in Calgary that went up for sale have been sold.