december 2012 monthly calgary housing statistics

7/29/2019 December 2012 Monthly Calgary Housing Statistics

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CALGARY REGIONAL HOUSING MARKET STATISTICS 12.12

CALGARY RESALE MARKET REACHING NORMAL2012 saw end to four years of weaker sales activity

Residential real estate sales in the city

of Calgary ended the year on a high note, with sales volume

up 15 per cent in 2012 compared to 2011, and benchmarkprices up five per cent.

Calgarys housing market has finally started to recover, said

Ann-Marie Lurie, CREBs chief economist. While prices

remain shy of the highs recorded in 2007, this is a move in theright direction.

Much of the sustainable recovery is fueled from the growth in

the energy sector, spilling over into all aspects of oureconomy, including housing, said Lurie. There is no question

employment and migration growth has supported housing

demand, a trend that is expected to continue this year, albeitat a slower pace.

The single family market sales growth outpaced increases inthe total condominium market within city limits. Single family

sales rose by 15 per cent in 2012 compared to 2011. New

listings did not keep pace, declining by seven per cent overthe same period. This has significantly reduced the inventory

of single family homes in the market, pushing prices up.

Consumers in the market were looking for value and, if a

home was priced right based on a longer term view of their

CITY OF CALGARY TOTAL SALES

CALGARY ANNUAL PRICES

pa

Consumers in the market were looking for value and, if a

home was priced right based on a longer term view of their

housing needs, they were buying, said 2012 CREB President

Bob Jablonski.

The price spread is expected to narrow as balanced market

conditions support further price growth, he said. But in most

communities, prices remain lower than 2007 levels.

The unadjusted single family benchmark price was $434,800for the month of December, 8.7-per-cent higher than 2011. On

average, single family prices are up by seven per cent for the

year, and remain two per cent below peak pricing in 2007.

Condominium sales are improving, as lower supply levels and

rising prices in the single family market drove consumers to

explore alternatives. Sales in the apartment and townhousesector recorded annual increases of 12 and 16 per cent,

respectively. Meanwhile, listings are declining in both sectors,

keeping both markets in balanced conditions. Price growthhas not been at the same pace as what was recorded in the

single family sector.

Condominium apartment benchmark prices totaled 248,700 in

December, a 5.4 per cent increase over 2011. Annual average

benchmark increases were two per cent, significantly lower

than the five per cent increase in the annual average price.

The average price increase is misleading, as therewere several multimillion-dollar condominium sales

in 2012 that skewed figures up. With more sales

occurring at the higher end of the spectrum,average and median prices are trending higher

than the benchmark, which represents price

growth for the same type of property.Calgarys 2013 housing sector growth will ease

both in terms of sales and price growth, differing

from the declines expected on a national level,

said Lurie.

Calgarys housing market did not recover at the

same pace as other Canadian centres and 2012 wasthe first time resale sales returned to more normal

levels of activity, she said.

It is expected that continued weakness in thenatural gas sector, combined with the more

cautious expansion approach in the oil sector, willpersist this year. While economic activity will be

strong enough to support moderate housing

growth, the notion of an overheated housing

market in 2013 is unlikely, given the economic

backdrop.

CREB Calgary Regional Housing Market Statistics pa


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Dec-11 Dec-12

Dec-11 Dec-12 Y/Y % 2011 2012 Y/Y %

CREB TOTAL RESIDENTIAL

Total Sales 1,289 1,370 6.28% 22,898 27,212 18.84%

Total Sales Volume $528,745,625 $588,618,169 11.32% $9,542,133,433 $11,604,473,474 21.61%

New Listings 1,501 1,302 -13.26% 45,612 44,079 -3.36%

Active Listings 6,613 5,167 -21.87% N/A N/A

Sales to New Listings Ratio 0.86 1.05 22.53% 0.50 0.62 22.97%

Sales $ / List $ 96.17% 96.54% 0.36% 96.68% 97.12% 0.44%

Average DOM 67 64 -3.76% 58 53 -8.62%

Average Price $410,198 $429,648 4.74% $416,723 $426,447 2.33%

Benchmark Price $357,100 $383,400 7.36%

Index 168 181 7.37%

CREB CITY OF CALGARY

Total Sales 1,025 1,083 5.66% 18,496 21,207 14.66%


New Listings 1,076 882 -18.03% 34,068 31,847 -6.52%



Sales $ / List $ 96.43% 96.78% 0.35% 96.86% 97.32% 0.45%

Average DOM 60 54 -9.37% 48 45 -6.25%

Average Price $402,165 $436,784 8.61% $414,391 $428,655 3.44%

Benchmark Price $362,200 $390,100 7.70%Index 169 182 7.70%

CREB TOWNS

Total Sales 186 175 -5.91% 3,293 3,970 20.56%

Total Sales Volume $65,281,779 $59,157,394 -9.38% $1,156,196,540 $1,383,881,210 19.69%

New Listings 271 220 -18.82% 7,378 6,883 -6.71%



Sales $ / List $ 96.37% 96.69% 0.32% 96.89% 97.19% 0.30%

Average DOM 81 89 9.17% 81 78 -3.70%

Average Price $350,977 $338,042 -3.69% $351,107 $348,585 -0.72%

Benchmark Price $311,000 $327,000 5.14%

Index 164 172 5.13%

CREB CRES

Total Sales 47 36 -23.40% 676 873 29.14%Total Sales Volume $38,947,042 $25,739,800 -33.91% $552,058,735 $692,337,706 25.41%

New Listings 98 72 -26.53% 2,589 2,633 1.70%

Active Listings 683 674 -1.32% N/A N/A


Sales $ / List $ 93.33% 91.88% -1.45% 94.06% 94.81% 0.75%

Average DOM 105 108 3.08% 103 108 4.85%

Average Price $828,660 $714,994 -13.72% $816,655 $793,056 -2.89%

Median Price $785,000 $637,000 -18.85%

For a list of definitions, see page 20.

CREB - SUMMARY STATS



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CREB SUMMARY STATISTICS CITY OF CALGARY

Dec-11 Dec-12

Dec-11 Dec-12 Y/Y % 2011 2012 Y/Y %

SINGLE FAMILY

Total Sales 717 745 3.91% 13,120 15,109 15.16%


New Listings 753 626 -16.87% 24,055 22,396 -6.90%



Sales $ / List $ 96.49% 96.84% 0.36% 96.92% 97.38% 0.47%

Average DOM 58 51 -11.87% 46 42 -8.70%

Average Price $454,992 $496,636 9.15% $466,506 $481,236 3.16%

Benchmark Price $399,900 $434,800 8.73%

Index 170 185 8.72%

CONDO APARTMENT

Total Sales 183 219 19.67% 3,139 3,501 11.53%

Total Sales Volume $49,421,489 $66,668,145 34.90% $852,356,955 $996,743,041 16.94%

New Listings 199 143 -28.14% 5,982 5,711 -4.53%



Sales $ / List $ 95.82% 96.41% 0.59% 96.36% 96.79% 0.43%

Average DOM 67 67 0.52% 54 54 0.00%

Average Price $270,063 $304,421 12.72% $271,538 $284,702 4.85%

Benchmark Price $236,000 $248,700 5.38%Index 165 174 5.40%

CONDO TOWNHOUSE

Total Sales 125 119 -4.80% 2,237 2,597 16.09%

Total Sales Volume $36,568,534 $36,375,416 -0.53% $691,657,500 $822,732,420 18.95%

New Listings 124 113 -8.87% 4,031 3,740 -7.22%



Sales $ / List $ 96.75% 96.82% 0.07% 97.01% 97.36% 0.36%

Average DOM 61 51 -16.83% 53 48 -9.43%

Average Price $292,548 $305,676 4.49% $309,190 $316,801 2.46%

Benchmark Price $272,700 $284,100 4.18%

Index 170 178 4.17%



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MLS HPI SUMMARY

Benchmark Price Index (HPI) Nov-12 Jun-12 Dec-11 Dec-09 Dec-07


Single Family 421,400 183 0.2% 0.8% 8.2% 7.5% 0.9%

Townhouse 282,500 178 0.5% 2.3% 4.1% 1.7% -9.1%

Apartment 247,700 173 0.2% 0.9% 5.3% 1.2% -11.1%

COMPOSITE 383,400 181 0.2% 1.0% 7.4% 5.9% -2.2%

CREB TOWNS

Single Family 333,100 172 -0.8% 0.3% 5.3% 4.1% -5.7%

Townhouse 224,200 181 0.7% 4.7% 4.0% 1.9% -13.2%

Apartment 185,900 160 -2.0% -0.7% -1.0% -1.4% -19.1%

COMPOSITE 327,000 172 -0.8% 0.5% 5.1% 3.7% -6.5%

CREB CITY OF CALGARY

Single Family 434,800 185 0.3% 0.9% 8.7% 8.1% 2.1%

Townhouse 284,100 178 0.5% 2.2% 4.2% 1.8% -8.9%

Apartment 248,700 174 0.3% 1.0% 5.4% 1.2% -10.9%

COMPOSITE 390,100 182 0.3% 1.1% 7.7% 6.2% -1.6%

% ChangesDecember 2012



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COMPARISONS

-

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

1 storey 2 Storey Total SF Townhouse Apartment Total Composite

Benchmark Price - December

CREB Total Residential CREB City of Calgary CREB Towns Source: CREB

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

Months of Supply - December

68.54% 68.79%82.29%

11.02% 10.99%

9.14%17.81% 20.22%8.57%

2.63%

20%

40%

60%

80%

100%

120%

Sales Distribution - December

-

2.0

4.0

Months of Supply SF Months of SupplyTownhouse

Months of SupplyApartment

CREB Total Residential CREB City of Calgary

CREB Towns Source: CREB

68.54% 68.79%82.29%

0%

20%

CREB TotalResidential

CREB City ofCalgary

CREB Towns

Single Family Townhouse Apartment CRES Source: CREB

150155

160

165

170

175

180

185

190

195

200

CALGARY INDEX VALUE

Index Value Single Family Index Value Tonwhouse

Index Value Apartment Source: CREB

-20%

-15%

-10%

-5%

0%

5%

10%

15%

CALGARY INDEX YEAR OVER YEAR COMPARISON

SF Y/Y Index Price Change

Apartment Y/Y Index Price Change

Townhouse Y/Y Price Change Source: CREB

CREB Calgary Regional Housing Market Statistics pag


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CITY OF CALGARY

0

5,000

10,000

15,000

20,000

25,000

30,000 ANNUAL

CALGARY YTD TOTAL SALES

SF Sales Apartment SalesTH Sales 10 Year Average Source: CREB

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000ANNUAL

CALGARY YTD TOTAL NEW LISTINGS

SF New Listings Apartment New ListingsTH New Listings 10 Year Average Source: CREB

50 000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

1,000

2,000

3,000

4,000

5,000

6,000

7,000

CALGARY INVENTORY AND SALES

1

2

3

4

5

6

7

89

CALGARY MONTHS OF INVENTORY

BALANCED

-

50,000

100,000

-

1,000

Inventory Sales Benchmark PriceSource: CREB

-

1

Months of Supply 3 month MA Source: CREB

-20%

-15%

-10%

-5%

0%

5%

10%

15%

CALGARY PRICE CHANGE COMPARISON

Average Price Y/Y% Change Y/Y Median Price Change

Index Y/Y% Change Source: CREB

320,000

340,000

360,000

380,000

400,000

420,000

440,000

460,000

CALGARY PRICES

Average Price Median PriceBenchmark Price Source: CREB



8/20


9/20

CITY OF CALGARY SINGLE FAMILY

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000 ANNUAL

CALGARY YTD SINGLE FAMILY SALES

SF Sales 10 Year Average Source: CREB

0

5,000

10,000

15,00020,000

25,000

30,000

35,000ANNUAL

CALGARY YTD SINGLE FAMILY NEW LISTINGS

SF New Listings 10 Year Average Source: CREB

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

CALGARY SINGLE FAMILY INVENTORY AND SALES

2

3

4

5

6

7

8

9

CALGARY SINGLE FAMILY MONTHS OF INVENTORY

BALANCED

-

50,000

100,000

-

500

1,000

SF Inventory SF Sales SF Benchmark Price Source: CREB

-

1

2

SF Months of Supply 3 month MA Source: CREB

-15%

-10%

-5%

0%

5%

10%

15%

CALGARY SINGLE FAMILY PRICE CHANGE COMPARISON

SF Average Price Y/Y% Change SF Median Price Change


350,000

370,000

390,000

410,000

430,000

450,000

470,000

490,000

510,000

CALGARY SINGLE FAMILY PRICES

SF Average Price SF Median PriceSF Benchmark Price Source: CREB



10/20


11/20

CITY OF CALGARY CONDOMINIUM TOWNHOUSE

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000ANNUAL

CALGARY YTD TOWNHOUSE SALES

Townhouse Sales 10 Year Average Source: CREB

-

1,000

2,000

3,000

4,000

5,000

6,000 ANNUAL

CALGARY YTD TOWNHOUSE NEW LISTINGS

Townhouse New Listings 10 Year Average Source: CREB

50,000

100,000

150,000

200,000

250,000

300,000

100

200

300

400

500

600

700

800

CALGARY TOWNHOUSE INVENTORY AND SALES

2

3

4

5

6

7

8

9

CALGARY TOWNHOUSE MONTHS OF INVENTORY

BALANCED

-

50,000

-

100

TH Inventory TH Sales TH Benchmark Price Source: CREB

-

1

2

TH Months of Supply 3 month MA Source: CREB

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

CALGARY TOWNHOUSE PRICE CHANGE COMPARISON

TH Average Price Y/Y % Change TH Median Price Change


220,000

240,000

260,000

280,000

300,000

320,000

340,000

CALGARY TOWNHOUSE PRICES

TH Average Price Median PriceTH Benchmark Price Source: CREB



12/20


13/20

CITY OF CALGARY CONDOMINIUM APARTMENTS

0

500

1,000

1,500

2,000

2,5003,000

3,500

4,000

4,500

5,000ANNUAL

CALGARY YTD APARTMENT SALES

Apartment Sales 10 Year Average Source: CREB

0

1,000

2,000

3,000

4,000

5,0006,000

7,000

8,000

9,000

10,000ANNUAL

CALGARY YTD APARTMENT NEW LISTINGS

Apartment New List ings 10 Year Average Source: CREB

50,000

100,000

150,000

200,000

250,000

300,000

200

400

600

800

1,000

1,200

1,400

CALGARY APARTMENT INVENTORY AND SALES

1

2

3

4

5

6

7

8

910

CALGARY APARTMENT MONTHS OF INVENTORY

BALANCED

-

50,000

-

200

Apartment Inventory Apartment SalesApartment Benchmark Price Source: CREB

-

1

2

Apartment Months of Supply 3 month MA Source: CREB

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

CALGARY APARTMENT PRICE CHANGE COMPARISON

Apartment Average Price Y/Y% ChangeMedian Price ChangeIndex Y/Y% Change Source: CREB

200,000

220,000

240,000

260,000

280,000

300,000

320,000

CALGARY APARTMENT PRICES

Apartment Average Price Median Price Benchmark PriceSource: CREB



14/20


15/20

CREB TOWNS

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

CREB TOWNS YTD TOTAL SALES

SF Sales Apartment SalesTH Sales 10 Year Average Source: CREB

0

1,000

2,000

3,000

4,0005,000

6,000

7,000

8,000

9,000

CREB TOWNS YTD TOTAL NEW LISTINGS

SF New Listings Apartment New ListingsTH New Listings 10 Year Average Source: CREB

50,000

100,000

150,000

200,000

250,000

300,000

350,000

500

1,000

1,500

2,000

2,500

CREB TOWNS INVENTORY AND SALES

2

4

6

8

10

12

14

16

CREB TOWNS MONTHS OF INVENTORY

BALANCED

-

50,000

-

500

Inventory Sales Benchmark Price Source: CREB

-

2


-15%

-10%

-5%

0%

5%

10%

15%

20%

CREB TOWNS PRICE CHANGE COMPARISON

Average Price Y/Y% Change Median Price Change


250,000

270,000

290,000

310,000

330,000

350,000

370,000

390,000

CREB TOWNS PRICES

Average Price Median Price

Benchmark Price Source: CREB



16/20


17/20

CREB COUNTRY RESIDENTIAL

0

100

200

300

400

500600

700

800

900

1000

CRES YTD TOTAL SALES

CRES Sales 10 Year Average Source: CREB

0

500

1000

1500

2000

2500

3000

CRES YTD TOTAL NEW LISTINGS

CRES New Listings 10 Year Average Source: CREB

100 000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

200

400

600

800

1,000

1,200

1,400

CRES INVENTORY AND SALES

5

10

15

20

25

30

35

40

CRES MONTHS OF INVENTORY

BALANCED

0

100,000

200,000

-

200

Inventory Sales Median Price Source: CREB

-

5


-40%

-20%

0%

20%

40%

60%

80%

CRES PRICE CHANGE COMPARISON

Average Price Y/Y% Change

Median Price Change

Average Price Y/Y% Change 3 month MA Source: CREB

500,000

600,000

700,000

800,000

900,000

1,000,000

1,100,000

1,200,000

CRES PRICES

Average Price Average Price 3 month MA Median PriceSource: CREB



18/20


19/20


0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000ANNUAL

CREB RESIDENTIAL YTD TOTAL SALES

SF Sales Apartment Sales

TH Sales CRES Source: CREB

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000ANNUAL

CREB RESIDENTIAL YTD TOTAL NEW LISTINGS

SF New Listings Apartment New Listings

TH New Listings CRES New Listings

10 Year Average Source: CREB

100,000

150,000

200,000

250,000

300,000

350,000

400,000450,000

2,000

4,000

6,000

8,000

10,000

12,000

CREB RESIDENTIAL INVENTORY AND SALES

2

4

6

8

10

12

CREB RESIDENTIAL MONTHS OF INVENTORY

BALANCED

0

50,000

100,000

-

2,000

Inventory Sales Benchmark Price Source: CREB

-20%

-15%

-10%

-5%

0%

5%

10%

15%

CREB RESIDENTIAL PRICE CHANGE COMPARISON

Average Price Y/Y Change Median Price Change


300,000

320,000

340,000

360,000

380,000

400,000

420,000

440,000

460,000

CREB RESIDENTIAL PRICES

Average Price Median Price Benchmark PriceSource: CREB

-

2




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DEFINITIONS

SF - Single Family LP - List Price

TH - Condominium Townhouse Sales $ / List $ - sales price to list price ration

Months of Supply - Active Listings (Inventory) / sales CRES - Country residential properties

Composite - includes single family, apartment and townhouse activity YTD - Year to Date

Average DOM - Average Days on Market for Sold properties 3 month MA - 3 month Moving Average

SP Sales Price

Benchmark Price Price of the typical home, based on the value consumers assign to various attributes

MLSHome Price Index changes in home prices by comparing price levels at a point in time with price levels in a base (reference) period.

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 throughthe monthly statistics package as of March 2012, reflect these adjustments. Please note, historical PDF packages do not include thechanges.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 Apartment, City of Calgary Townhouse.

Median prices have been removed and replaced with the benchmark price and the index.

MLS HPI Summary was added. Several trending graphs and summary stats were added for each category

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 low-rise 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.

ABOUT CREB

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

CREB is a professional body of more than 5,100 licensed brokers and registered associates, representing 245 member offices. CREBis dedicated to enhancing the value, integrity and expertise of its REALTOR members. Our REALTORS are committed to a highstandard 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 datahas 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 oranalysis of any individual member or companys market share. All MLS active listings for Calgary and area may be found on theboards website at www.creb.com.

CREB is a registered trademark of the Calgary Real Estate Board Cooperative. The trademarks MLS and Multiple Listing Service areowned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals whoare members of CREA. The trademarks REALTOR and REALTORS are controlled by CREA and identify real estate professionalswho are members of CREA, and subsequently the Alberta Real Estate Association and CREB, used under licence.

december 2012 monthly calgary housing statistics

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