Calgary Housing Statistics
Calgary Real Estate Statistics: September 2018
- Days on Market: 60 (Up by 33.3% from a year ago)
- Average Price: $470,088 (Up by 3.1% from a year ago)
- Active Listings: 7,947 (Up by 15.5% from a year ago)
- Sold Listings: 1,272 (Down by 12.9% from a year ago)
- New Listings: 3,088 (Down by 5.4% from a year ago)
- Sold to List Price Ratio: 97.3% (Down by 0.02% from a year ago)
- Sold Above Asking Price: 90 (Down by 44.4% from a year ago)
- Months of Inventory: 6.25 (Up by 32.5% from a year ago)
- Odds of Selling: 16 (Down by 5.2% from a year ago)
Calgary Housing Prices
|2017 - September||2018 - September||Y/Y - % Change|
|Total Sales Volume||$708,159,996||$597,952,371||-15.56%|
|Months of Supply||4.71||6.25||32.54%|
|Sales to New Listings Ratio||44.74%||41.19%||-3.55%|
|Sales to List Price Ratio||97.32%||97.30%||-0.02%|
|Days on Market||45||60||31.54%|
Number of Days it Takes to Sell a Home in Calgary (DOM)
In September 2018, the number of days an average property listed on the market was for 60 days. In the same month of 2017, the average MLS® listing in Calgary sold in 45 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 $470,088 in September 2018. Currently, it compares to be 3.1% less than in the same month of 2017 when the combined price of single-family, condominiums and attached homes were recorded at $485,041.
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 September, the number of active listings in Calgary was recorded at 7,947 units, it is an increase of 15.5% compared to September of 2017 when 6,882 homes were listed for sale in Calgary, AB.
Number of Homes Sold in Calgary
The number of sold homes in Calgary last month were 1,272 properties. It is reflecting a seasonal shift in when compared it to August's numbers at 1,490 sold units or a decrease of 14.6%. On a year-over-year comparison, the number of sold units had decreased by 12.9%.
New Listings in Calgary
When compared to the same month in 2017, the number of new listings in Calgary in September 2018 decreased by 5.4% as CREB had recorded 3,088 new listings coming on the market in Calgary. On a month-to-month comparison, the number of new listings in Calgary has increased by 0.9% 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 September exceeded 90 listings which represent 7.1% of the total sold listings in Calgary. In the same month of the previous year, approximately 44.4% 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 6.25 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 September, the housing supply was sitting at an inventory of 4.71 months or buyers were purchasing properties 32.5% more actively than they are 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 September 2018, 16% of all MLS® listings were sold. It also means that about 84% 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 5.2% higher success rate when approximately 21.2% of the listings in Calgary that went up for sale have been sold.