You are on page 1of 20

CALGARY REGIONAL HOUSING MARKET STATISTICS

05.12

ACTIVE SPRING MARKET IN THE CALGARY REGION Low supply in the single-family market boosting activity across all sectors Calgary, June 1, 2012 May 2012 residential sales in the City of Calgary increased by 31.8 per cent over last year, to 2,385, making it the highest May activity since the recession. In the past month, easing concerns regarding Calgarys long- term economic prospects combined with continued fulltime job growth and low interest rates, has contributed to the rise in housing demand, pushing sales to levels more consistent with long term trends, says Ann-Marie Lurie, CREBs chief economist. However, we are not out of the woods in terms or economic risks, as recent indicators point towards weak growth in the U.S. economy and increased uncertainty in global markets. Demand growth continues to outpace supply in the single-family market. Monthly sales reached 1,710 units in May, resulting in year-to-date sales 19.1 per cent higher than the same period last year. While new listings recorded a yearover-year increase of 6.7 per cent, this did little to alleviate the supply constraint in the single-family market. Inventories totaled 3,842 in May, keeping months of supply in seller territory, with less than 2.5 months of supply. With less supply in the single-family market, buyers are making their decisions quicker, says Becky Walters, CREBs president-elect. As a result, weve seen a reduction in the amount of time homes stay on the market, and sellers are getting figures closer to their list price. The single-family benchmark price for the month of May 2012 was $427,500, a 6.7-per-cent increase over the previous year. Prices were expected to record modest gains this year and, while the increase is higher than expected, the single-family benchmark price remains 5.3-per-cent below the peak price of $451,400, reached in July 2007. Buyers are also turning to surrounding areas and the condominium markets, both of which have adequate supply levels and price growth that remain below single-family levels, Walters says. After the first five months of the year, condominiumapartment sales totaled 1,518, an 8.7-per-cent increase over the same period last year. New listings for the month rose by 5.4 per cent compared to last year, but on a year-to-date basis, they remain at comparable levels. As the number of sales outpaced new listings, total inventory levels of apartment condominiums have retracted by 3 per cent over May 2011, and with three months of supply, firmly moved into balanced territory. The condominium-apartment market recorded a modest improvement in pricing, with a benchmark price of $245,400 in May 2012, a year-over-year price gain of one per cent. Meanwhile, condominium-townhome benchmark prices appreciated by 3 per cent over last year for a monthly price of $277,000. While there have been some conflicting opinions on the national housing market, particularly with price expectations, the Calgary housing market does not appear to reflect either a boom or a bust scenario, and is simply returning to activity levels consistent with a normal market, says Lurie. The current low supply in the single-family market has pushed up pricing slightly higher than anticipated. However, sufficient supply in the remaining housing industry combined with economic uncertainty will likely prevent a repeat of the price jumps recorded in the not-so-distant past.

CALGARY MAY SALES COMPARISON

CALGARY SINGLE FAMILY ABSORPTION

CREB Calgary Regional Housing Market Statistics

Page 1

CREB SUMMARY STATISTICS

For a list of definitions, see page 20.

Page 2

CREB SUMMARY STATISTICS CITY OF CALGARY

Page 3

MLS HPI SUMMARY

Page 4

COMPARISONS

Benchmark Price - May


500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 1 storey 2 Storey Total SF Townhouse
CREB Towns

Apartment

Total Composite
Source: CREB

CREB Total Residential

CREB City of Calgary

Months of Supply - May


9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 Months of Supply SF Months of Supply Townhouse CREB City of Calgary Months of Supply Apartment

Sales Distribution - May


120% 3.18% 100% 14.23% 80% 60% 40% 71.28% 20% 0% CREB Total Residential CREB City of Calgary CREB Towns 71.70% 11.31% 16.18% 12.12% 8.45% 9.86%

81.69%

CREB Total Residential

CREB Towns

Source: CREB

Single Family

Townhouse

Apartment

CRES

Source: CREB

CALGARY INDEX VALUE


220 210 200

CALGARY YEAR OVER YEAR PRICE CHANGES


60% 50% 40% 30%

190 180 170 160

20% 10% 0% -10% -20%

150

Index Value Single Family Index Value Apartment

Index Value Tonwhouse

SF Y/Y Index Price Change Townhouse Y/Y Price Change Source: CREB

Apartment Y/Y iIndex Price Change Source: CREB

Page 5

CITY OF CALGARY TOTAL

CALGARY YTD SALES BY PRICE RANGE


YTD-MAY
30%

25%

20%

15%

10%

5%

0% < $200,000 $300,000 $350,000 $450,000 $550,000 $700,000 $200,000 - $299,999 -$349,999 - $449,999 - $549,999 - $699,999 +
YTD-2009 YTD-2010 YTD-2011 YTD-2012 Source: CREB

CREB Calgary Regional Housing Market Statistics

Page 6

CITY OF CALGARY

CALGARY YTD TOTAL SALES


16,000 14,000

CALGARY YTD TOTAL NEW LISTINGS


YTD-MAY YTD-MAY
25,000

20,000 12,000 10,000 8,000 6,000 4,000 2,000 0 0 10,000 15,000

5,000

SF Sales TH Sales

Apartment Sales 10 Year Average

Source: CREB

SF New Listings TH New Listings

Apartment New Listings 10 Year Average

Source: CREB

CALGARY INVENTORY AND SALES


7,000 6,000 5,000 300,000 4,000 3,000 2,000 100,000 1,000 50,000 250,000 200,000 150,000 450,000 400,000 350,000

CALGARY MONTHS OF INVENTORY


9 8 7 6 5 4

BALANCED
3 2 1 -

Inventory

Sales

Benchmark Price

Source: CREB

Months of Supply 3 month MA

Source: CREB

CALGARY PRICE CHANGE COMPARISON


440,000 420,000 400,000 380,000 360,000 340,000 320,000 300,000 30% 25%

CALGARY PRICES
460,000 440,000 20% 15% 10% 5% 0% -5% -10% -15% -20% 340,000 320,000 380,000 360,000 420,000 400,000

Average Price Y/Y% Change Index Y/Y% Change

Benchmark Price Source: CREB Average Price Benchmark Price Source: CREB

CREB Calgary Regional Housing Market Statistics

Page 7

CITY OF CALGARY SINGLE FAMILY

CALGARY YTD SINGLE FAMILY SALES BY PRICE RANGE


40% 35% 30% 25% 20% 15% 10% 5% 0% < $300,000 $300,000 - $350,000 - $450,000 - $550,000 - $700,000 + $349,999 $449,999 $549,999 $699,999
YTD-2009 YTD-2010 YTD-2011 YTD-2012 Source: CREB

YTD-MAY

CREB Calgary Regional Housing Market Statistics

Page 8

CITY OF CALGARY SINGLE FAMILY

CALGARY YTD SINGLE FAMILY SALES


12,000 10,000 8,000 6,000

CALGARY YTD SINGLE FAMILY NEW LISTINGS


YTD-MAY
18,000 16,000 14,000 12,000 10,000 8,000

YTD-MAY

4,000 2,000

6,000 4,000 2,000

SF Sales

10 Year Average

Source: CREB

SF New Listings

10 Year Average

Source: CREB

CALGARY SINGLE FAMILY INVENTORY AND SALES


5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 200,000 150,000 100,000 50,000 450,000 400,000 350,000 300,000 250,000

CALGARY SINGLE FAMILY MONTHS OF INVENTORY


9 8 7 6 5 4

BALANCED
3 2 1 -

SF Inventory

SF Sales

SF Benchmark Price

Source: CREB

SF Months of Supply 3 month MA

Source: CREB

CALGARY SINGLE FAMILY PRICE CHANGE COMPARISON


460,000 440,000 420,000 400,000 380,000 5% 360,000 340,000 320,000 300,000 0% -5% -10% -15% 30% 25% 20% 15% 10%

CALGARY SINGLE FAMILY PRICES


530,000 510,000 490,000 470,000 450,000 430,000 410,000 390,000 370,000 350,000

SF Average Price Y/Y% Change Index Y/Y% Change

SF Benchmark Price SF Average Price Source: CREB SF Benchmark Price Source: CREB

CREB Calgary Regional Housing Market Statistics

Page 9

CITY OF CALGARY CONDOMINIUM TOWNHOUSE

CALGARY YTD TOWNHOUSE SALES BY PRICE RANGE


60% 50% 40% 30% 20% 10% 0% < $200,000
YTD-2009

YTD-MAY

$200,000 $299,999
YTD-2010

$300,000 $399,999

$400,000 $599,999

$600,000+
Source: CREB

YTD-2011

YTD-2012

CREB Calgary Regional Housing Market Statistics

Page 10

CITY OF CALGARY CONDOMINIUM TOWNHOUSE

CALGARY YTD TOWNHOUSE SALES


YTD-MAY
2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0

CALGARY YTD TOWNHOUSE NEW LISTINGS


3000 2500 2000 1500 1000 500 0

YTD-MAY

Townhouse Sales

10 Year Average

Source: CREB

Townhouse New Listings

10 Year Average

Source: CREB

CALGARY TOWNHOUSE INVENTORY AND SALES


900 800 250,000 700 600 500 150,000 400 300 200 50,000 100 100,000 200,000 300,000

CALGARY TOWNHOUSE MONTHS OF INVENTORY


9 8 7 6 5 4

BALANCED
3 2 1 -

TH Inventory

TH Sales

TH Benchmark Price

Source: CREB

TH Months of Supply 3 month MA

Source: CREB

CALGARY TOWNHOUSE PRICE CHANGE COMPARISON


340,000 320,000 300,000 280,000 10% 260,000 240,000 220,000 200,000 0% 40% 30% 20%

CALGARY TOWNHOUSE PRICES


360,000 340,000 320,000 300,000 280,000 260,000 -10% 240,000 -20% 220,000

TH Average Price Y/Y % Change Index Y/Y% Change

TH Benchmark Price Source: CREB TH Average Price TH Benchmark Price Source: CREB

CREB Calgary Regional Housing Market Statistics

Page 11

CITY OF CALGARY CONDOMINIUM APARTMENTS

CALGARY YTD APARTMENT SALES BY PRICE RANGE


70% 60% 50% 40% 30% 20% 10% 0% < $200,000
YTD-2009

YTD-MAY

$200,000 $299,999
YTD-2010

$300,000 $399,999
YTD-2012

$400,000 $599,999

$600,000+
Source: CREB

YTD-2011

CREB Calgary Regional Housing Market Statistics

Page 12

CITY OF CALGARY CONDOMINIUM APARTMENTS

CALGARY YTD APARTMENT SALES


3,000 2,500 2,000 1,500 1,000 500 0

CALGARY YTD APARTMENT NEW LISTINGS


YTD-MAY
5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0

YTD-MAY

Apartment Sales

10 Year Average

Source: CREB

Apartment New Listings

10 Year Average

Source: CREB

CALGARY APARTMENT INVENTORY AND SALES


1,400 1,200 1,000 200,000 800 150,000 600 100,000 400 200 50,000 300,000 250,000

CALGARY APARTMENT MONTHS OF INVENTORY


10 9 8 7 6 5 4 3 2 1 -

BALANCED

Apartment Inventory

Apartment Sales

Apartment Benchmark Price Source: CREB

Apartment Months of Supply 3 month MA Source: CREB

CALGARY APARTMENT PRICE CHANGE COMPARISON


320,000 300,000 280,000 260,000 0% 240,000 220,000 200,000 -10% 40% 30% 20% 10%

CALGARY APARTMENT PRICES


340000 320000 300000 280000 260000 240000 -20% 220000 -30% 200000

Apartment Average Price Y/Y% Change Index Y/Y% Change

Apartment Benchmark Price Source: CREB Apartment Average Price Apartment Benchmark Price Source: CREB

CREB Calgary Regional Housing Market Statistics

Page 13

CREB TOWNS

CREB TOWNS YTD SALES BY PRICE RANGE


YTD-MAY
30% 25% 20% 15% 10% 5% 0% < $200,000 $300,000 $350,000 $450,000 $550,000 $700,000 $200,000 - $299,999 -$349,999 - $449,999- $549,999 - $699,999 +
YTD-2009 YTD-2010 YTD-2011 YTD-2012 Source: CREB

CREB Calgary Regional Housing Market Statistics

Page 14

CREB TOWNS

CREB TOWNS YTD TOTAL SALES


YTD-MAY
3,000 2,500 2,000 1,500 1,000 500 0

CREB TOWNS YTD TOTAL NEW LISTINGS


6,000 5,000 4,000 3,000 2,000 1,000 0

YTD-MAY

SF Sales TH Sales

Apartment Sales 10 Year Average

Source: CREB

SF New Listings TH New Listings

Apartment New Listings 10 Year Average

Source: CREB

CREB TOWNS INVENTORY AND SALES


3,500 3,000 2,500 2,000 1,500 1,000 500 350,000 300,000 250,000 200,000 150,000 100,000 50,000 -

CREB TOWNS MONTHS OF INVENTORY


18 16 14 12 10 8 6 4 2 -

BALANCED

Inventory

Sales

Benchmark Price

Source: CREB

Months of Supply 3 month MA

Source: CREB

CREB TOWNS PRICE CHANGE COMPARISON


370,000 360,000 350,000 340,000 330,000 320,000 310,000 300,000 290,000 280,000 270,000 -20% 0% -10% 20% 10% 40% 30%

CREB TOWNS PRICES


430,000 410,000 390,000 370,000 350,000 330,000 310,000 290,000 270,000 -30% 250,000

Average Price Y/Y% Change Index Y/Y% Change

Benchmark Price Source: CREB Average Price Benchmark Price Source: CREB

CREB Calgary Regional Housing Market Statistics

Page 15

CREB COUNTRY RESIDENTIAL

CRES YTD SALES BY PRICE RANGE


YTD- MAY
30% 25% 20% 15% 10% 5% 0% < $500,000 $500,000 - $600,000 - $700,000 - $800,000 - $1,000,000 $1,500,000+ $599,999 $699,999 $799,999 $999,999 - $1,499,999
YTD-2009 YTD-2010 YTD-2011 YTD-2012 Source: CREB

CREB Calgary Regional Housing Market Statistics

Page 16

CREB COUNTRY RESIDENTIAL

CRES YTD TOTAL SALES


YTD-MAY
600 500

CRES YTD TOTAL NEW LISTINGS


YTD-MAY
1600 1400 1200

400 300 200

1000 800 600 400

100 0

200 0

CRES Sales

10 Year Average

Source: CREB

CRES New Listings

10 Year Average

Source: CREB

CRES INVENTORY AND SALES


1,400 1,200 1,000 600000 800 600 400 200000 200 100000 0 500000 900000 800000 700000

CRES MONTHS OF INVENTORY


40 35 30 25 20 400000 300000 15 10 5 -

BALANCED

Inventory

Sales

Median Price

Source: CREB

Months of Supply 3 month MA

Source: CREB

CRES YEAR OVER YEAR PRICE CHANGES


80% 60% 40%

CRES PRICES
1,200,000 1,100,000 1,000,000 900,000

20% 800,000 0% -20% -40% 700,000 600,000 500,000

Average Price Y/Y% Change Average Price Y/Y% Change 3 month MA

Source: CREB

Average Price

Average Price 3 month MA

Source: CREB

CREB Calgary Regional Housing Market Statistics

Page 17

CREB TOTAL RESIDENTIAL

CREB RESIDENTIAL YTD SALES BY PRICE RANGE


YTD-MAY
30% 25% 20% 15% 10% 5% 0% < $200,000 $300,000 $350,000 $450,000 $550,000 $700,000 $200,000 - $299,999 -$349,999 - $449,999 - $549,999 - $699,999 +
YTD-2009 YTD-2010 YTD-2011 YTD-2012 Source: CREB

CREB Calgary Regional Housing Market Statistics

Page 18

CREB TOTAL RESIDENTIAL

CREB RESIDENTIAL YTD TOTAL SALES


18,000 16,000 14,000 YTD-MAY

CREB RESIDENTIAL YTD TOTAL NEW LISTINGS


YTD-MAY
35,000 30,000 25,000

12,000 10,000 8,000 6,000 4,000 2,000 0 5,000 0 20,000 15,000 10,000

SF Sales CRES

Apartment Sales 10 Year Average

TH Sales Source: CREB

SF New Listings CRES New Listings

Apartment New Listings 10 Year Average

TH New Listings Source: CREB

CREB RESIDENTIAL INVENTORY AND SALES


12,000 10,000 8,000 6,000 4,000 2,000 400,000 350,000 300,000

CREB RESIDENTIAL MONTHS OF INVENTORY


12 10 8 250,000 200,000 150,000 100,000 2 50,000 0 6 4

BALANCED

Inventory

Sales

Benchmark Price

Source: CREB

Source: CREB

CREB RESIDENTIAL PRICE CHANGE COMPARISON


440,000 420,000 400,000 380,000 360,000 340,000 320,000 300,000 30% 25% 20% 15% 10% 5% 0% -5% -10% -15% -20%

CREB RESIDENTIAL PRICES


480,000 460,000 440,000 420,000 400,000 380,000 360,000 340,000 320,000 300,000

Average Price Y/Y Change Index Y/Y% Change

Benchmark Price Source: CREB

Average Price

Benchmark Price

Source: CREB

CREB Calgary Regional Housing Market Statistics

Page 19

DEFINITIONS
SF - Single Family TH - Condominium Townhouse Months of Supply - Active Listings (Inventory) / sales Composite - includes single family, apartment and townhouse activity Average DOM - Average Days on Market for Sold properties Sales $ / List $ - sales price to list price ratio Active Listings Total listings on the market as of 4:30am on the first of day of the month LP - List Price SP Sales Price CRES - Country residential properties YTD - Year to Date 3 month MA - 3 month Moving Average Y/Y Year over Year New Listings include listings added for a particular month

HOW THESE STATISTICS ARE CALCULATED


In order to align our data with the MLS Home Price Index (HPI), we made several changes to the data that we report, as well as the monthly statistics. The new package provides more information and data exclusions provide a better residential picture. All the data provided through the monthly statistics package as of March 2012, reflect these adjustments. Please note, historical PDF packages do not include the changes. A summary of these changes is available below: MONTHLY STATISTICS PACKAGE We now provide monthly statistics for: CREB Total Residential, CREB Towns, CREB Country Residential (CRES), City of Calgary, City of Calgary Single Family, City of Calgary Condominium Apartment, City of Calgary Condominium Townhouse.

All categories exclude: vacant lots, time shares, parking stalls and mobile homes on leased land. CITY OF CALGARY Includes sales in Zones A, B, C, D only. Condominium Apartment includes all Condominium title properties that are classified by type as either a lowrise or high-rise apartment. Condominium Townhouse include all Condominium titled properties that are not classified as an Apartment. Historical inventories have been adjusted to best reflect the adjustments made to the data.

TOTAL MLS Changed to CREB Total Residential and excludes the following: Excludes: Rural Land, Country Recreational (CREC), The exclusions applied to the data results in roughly 400 500 less sales per year. Historical inventories have been revised to best reflect the adjustments made to the data, while Mobile Homes, Rural Land and CREC inventories could be pulled out of the total MLS inventory data. No adjustments could be made for Vacant Lots, Time Shares and Parking Stalls, indicating historic figures could be slightly overstated compared to current numbers.

ABOUT CREB
CREB is a professional body of more than 5,100 licensed brokers and registered associates, representing 245 member offices. CREB is dedicated to enhancing the value, integrity and expertise of its REALTOR members. Our REALTORS are committed to a high standard of professional conduct, ongoing education, and a strict Code of Ethics and standards of business practice. For Calgary Metro, CREB statistics include only Zone A, B, C and D for properties located in Calgary. Furthermore, all historical data has been adjusted to the most current information. Any use or reference to CREB data and statistics must acknowledge CREB as the source. The board does not generate statistics or analysis of any individual member or companys market share. All MLS active listings for Calgary and area may be found on the boards website at www.creb.com. CREB is a registered trademark of the Calgary Real Estate Board Cooperative. The trademarks MLS and Multiple Listing Service are owned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR and REALTORS are controlled by CREA and identify real estate professionals who are members of CREA, and subsequently the Alberta Real Estate Association and CREB, used under licence.

CREB Calgary Regional Housing Market Statistics

Page 20

You might also like