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CALGARY REGIONAL HOUSING MARKET STATISTICS 07.12
CREB Calgary Regional Housing Market Statistics Pag
CALGARY BUCKS NATIONAL TREND
Double digit year-over-year sales growth demonstrates differences between city and national trends
Calgary continues to buck national
housing sale trends. The 1,936 residential units sold in July
represent a 21.3-per-cent increase over 2011.
Recent mortgage rule changes prompted much discussion of
a national housing correction. While the two largest cities
(Vancouver and Toronto) have started to witness declines in
home sales activity, Calgary continues to record improving
sales and prices, says Ann-Marie Lurie, Chief Economist for
CREB.
The gains were supported from the economic growth in the
region, Lurie says. Last year, Alberta led the country in
economic growth and with Calgary being the energy capital
of the country the city has benefited from growth in full-time
employment, migration and overall improved confidence.
Year-to-date City of Calgary sales totaled 13,684, a 16.5-per-
cent increase over the same time in 2011. Other sectors within
the city limits have also recorded significant growth. The
single-family market recorded the largest gains at 18.9 per
cent, while the condominium apartment posted a 9.4-per-cent
rise year-to-date.
The housing growth positions us with sales activity that is
more consistent with long-term trends, of which we
significantly fell short of since the recession, says Bob
Jablonski, President of CREB. Consumers have been
cautious of the housing market coming out of the recession,
buthousing sales have improved considerably, driven byhome prices that are still below peak, favourable interest rates
and bullish forecasts on the local economy,.
Consumers have delayed adding listings to the market, and, as
a result, there are 7.5 per cent fewer single family listings and
3.1 per cent fewer condominium apartment listings, compared
to this July 2011. July sales activity showed seasonal slowing
over Junes level, providing some relief on the balance
between supply and demand. Citywide months of supply
trended upwards towards 3 months.
With tighter mortgage rules and tighter supply, consumers
planning on moving up may be forced to revaluate what is
within their budget. This may cause some homeowners to
delay listing their homes, contributing to the diminished
number of listings. However, if supply levels remain low, this
will encourage consumers to turn toward the new home
market.
Single family inventory levels were 3,646 units in June, nearly
20-per-cent lower than supply levels recorded in 2011.
Lower inventory, combined with increased sales, has
resulted in stronger-than-anticipated price gains.
The single family benchmark price reached $432,40
in July, a 7.8-per-cent increase over 2011, but on
average only 5 per cent higher on a year-to-date
basis. The increase in price has narrowed the
variance from the peak of the market, but a 4-per-
cent price gap remains.
Both the condominium apartment and townhouse
market recorded year-over-year benchmark price
gains of 2 per cent in July, for respective prices of
$247,600 and $277,400.
While the economic risks continue to weigh on the
market, many consumers continue to see
employment opportunities in the city, says Lurie.
They have a better sense of job security and are
taking advantage of a stable housing market.
CALGARY RESIDENTIAL PRICE
CALGARY SALES COMPARISON
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PagCREB Calgary Regional Housing Market Statistics
Jul-11 Jul-12
Jul-11 Jul-12 Y/Y % Change 2011 YTD 2012 YTD Y/Y % Change
CREB TOTAL RESIDENTIAL
Total Sales 2,010 2,561 27.41% 14,420 17,480 21.22%
Total Sales Volume $829,188,352 $1,082,483,668 30.55% $6,040,707,748 $7,469,634,897 23.65%
New Listings 3,948 3,742 -5.22% 30,152 30,254 0.34%
Active Listings 10,980 9,433 -14.09% N/A N/ASales to New Listings Ratio 0.51 0.68 34.43% 0.48 0.58 20.81%
Sales $ / List $ 96.85% 97.15% 0.30% 96.80% 97.22% 0.42%
Average DOM 56 52 -6.85% 52 51 -1.92%
Average Price $412,532 $422,680 2.46% $418,912 $427,325 2.01%
Benchmark Price $359,600 $381,100 5.98%
Index 170 180 5.96%
CREB CITY OF CALGARY
Total Sales 1,596 1,936 21.30% 11,745 13,684 16.51%
Total Sales Volume $651,130,613 $824,764,957 26.67% $4,901,650,179 $5,870,586,784 19.77%
New Listings 2,856 2,660 -6.86% 22,464 21,779 -3.05%
Active Listings 6,537 5,430 -16.93% N/A N/A
Sales to New Listings Ratio 0.56 0.73 30.24% 0.52 0.63 20.17%
Sales $ / List $ 96.99% 97.27% 0.28% 96.96% 97.40% 0.43%
Average DOM 49 43 -11.87% 46 43 -6.52%
Average Price $407,977 $426,015 4.42% $417,339 $429,011 2.80%
Benchmark Price $364,600 $387,300 6.23%
Index 170 181 6.24%
CREB TOWNS
Total Sales 355 539 51.83% 2,287 3,241 41.71%
Total Sales Volume $128,925,989 $193,078,816 49.76% $812,362,892 $1,161,604,591 42.99%
New Listings 848 863 1.77% 5,941 6,612 11.29%
Active Listings 3,141 2,806 -10.67% N/A N/A
Sales to New Listings Ratio 0.42 0.62 49.19% 0.38 0.49 27.33%
Sales $ / List $ 96.90% 97.30% 0.40% 96.85% 97.14% 0.29%
Average DOM 80 75 -6.23% 77 75 -2.60%
Average Price $363,172 $358,217 -1.36% $355,209 $358,409 0.90%
Benchmark Price $315,000 $326,000 3.49%
Index 166 172 3.50%
CREB CRES
Total Sales 59 86 45.76% 388 550 41.75%
Total Sales Volume $49,131,750 $64,639,895 31.56% $326,694,677 $435,481,522 33.30%
New Listings 243 217 -10.70% 1,740 1,857 6.72%
Active Listings 1,206 1,198 -0.66% N/A N/A
Sales to New Listings Ratio 0.24 0.40 63.23% 0.22 0.30 32.82%
Sales $ / List $ 94.90% 95.19% 0.29% 94.27% 95.14% 0.87%
Average DOM 87 100 15.23% 98 100 2.04%
Average Price $832,742 $751,627 -9.74% $841,997 $791,785 -5.96%
Median Price $830,000 $635,000 -23.49%
CREB SummaRy StatiStiCS
For a list o defnitions, see page 20.
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PageCREB Calgary Regional Housing Market Statistics
CREB SummaRy StatiStiCS City of CalgaRy
Jul-11 Jul-12Jul-11 Jul-12 Y/Y % Change 2011 YTD 2012 YTD Y/Y % Change
SINGLE FAMILY
Total Sales 1,142 1,386 21.37% 8,329 9,903 18.90%
Total Sales Volume $521,178,548 $663,239,532 27.26% $3,915,918,161 $4,754,347,940 21.41%
New Listings 2,031 1,878 -7.53% 15,857 15,305 -3.48%
Active Listings 4,544 3,646 -19.76% N/A N/ASales to New Listings Ratio 0.56 0.74 31.25% 0.53 0.65 23.19%
Sales $ / List $ 97.01% 97.32% 0.31% 97.02% 97.48% 0.46%
Average DOM 49 41 -16.70% 44 41 -6.82%
Average Price $456,374 $478,528 4.85% $470,155 $480,092 2.11%
Benchmark Price $401,100 $432,400 7.80%
Index 170 184 7.81%
CONDO APARTMENT
Total Sales 248 311 25.40% 1,982 2,168 9.38%
Total Sales Volume $67,128,101 $89,017,711 32.61% $543,322,008 $605,498,449 11.44%
New Listings 491 476 -3.05% 3,931 3,917 -0.36%
Active Listings 1,230 1,161 -5.61% N/A N/A
Sales to New Listings Ratio 0.51 0.65 29.36% 0.50 0.55 9.78%
Sales $ / List $ 96.60% 96.75% 0.15% 96.51% 96.84% 0.33%
Average DOM 50 55 9.81% 52 52 0.00%
Average Price $270,678 $286,231 5.75% $274,128 $279,289 1.88%
Benchmark Price $242,600 $247,600 2.06%
Index 169 173 2.07%
CONDO TOWNHOUSE
Total Sales 206 239 16.02% 1,434 1,613 12.48%
Total Sales Volume $62,823,964 $72,507,714 15.41% $442,410,010 $510,740,395 15.45%
New Listings 334 306 -8.38% 2,676 2,557 -4.45%
Active Listings 763 623 -18.35% N/A N/A
Sales to New Listings Ratio 0.62 0.78 26.64% 0.54 0.63 17.72%
Sales $ / List $ 97.26% 97.48% 0.23% 97.05% 97.33% 0.28%
Average DOM 52 45 -12.50% 52 47 -9.62%
Average Price $304,971 $303,380 -0.52% $308,515 $316,640 2.63%
Benchmark Price $272,200 $277,400 1.91%
Index 170 173 1.88%
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PageCREB Calgary Regional Housing Market Statistics
mlS hpi SummaRy
Benchmark Price Index (HPI Jun-12 Jan-12 Jul-11 Jul-09 Jul-07
CREB TOTAL RESIDENTIAL
Single Family 419,800 182 0.4% 7.6% 7.3% 11.0% -4.8%
Townhouse 275,800 173 -0.1% 2.5% 1.8% 3.8% -16.4%
Apartment 246,700 173 0.5% 5.8% 2.1% 4.9% -16.7%
COMPOSITE 381,100 180 0.4% 6.8% 6.0% 9.2% -8.1%
CREB TOWNS
Single Family 332,400 172 0.1% 5.5% 3.7% 5.5% -8.4%
Townhouse 216,500 175 1.2% 0.9% 0.2% 0.2% -15.2%
Apartment 188,500 162 0.7% 1.4% 0.4% 1.1% -22.7%
COMPOSITE 326,000 172 0.2% 5.2% 3.5% 5.1% -9.3%
CREB CITY OF CALGARY
Single Family 432,400 184 0.4% 7.9% 7.8% 11.8% -4.2%
Townhouse 277,400 173 -0.2% 2.6% 1.9% 4.0% -16.4%
Apartment 247,600 173 0.5% 5.9% 2.1% 5.0% -16.6%
COMPOSITE 387,300 181 0.4% 7.1% 6.2% 9.8% -8.0%
% ChangesJuly 2012
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PageCREB Calgary Regional Housing Market Statistics
CompaRiSonS
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000450,000
500,000
1 storey 2 Storey Total SF Townhouse Apartment Total Composite
Benchmark price - July
CREB Total Residential CREB City of Calgary CREB TownsSource: CREB
-
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
Months of Su pply SF M on th s of Supply
Townhouse
Months of Supply Apartment
onths of Suly - July
CREB Total Residential CREB City of Calgary CREB TownsSource: CREB
71.46% 71.59% 82.37%
11.32% 12.35%
9.46%13.86%16.06%
8.16%
3.36%
0%
20%
40%
60%
80%
100%
120%
CREB Total Resident ia l CREB City of Ca lgary CREB Towns
Sales Distribution - July
Single Family Townhouse Apartment CRES Source: CREB
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City of CalgaRy
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PageCREB Calgary Regional Housing Market Statistics
City of CalgaRy ConDominium townhouSE
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PageCREB Calgary Regional Housing Market Statistics
City of CalgaRy ConDominium apaRtmEntS
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PageCREB Calgary Regional Housing Market Statistics
CREB townS
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PageCREB Calgary Regional Housing Market Statistics
CREB CountRy RESiDEntial
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PageCREB Calgary Regional Housing Market Statistics
CREB total RESiDEntial
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DEFINITIONS
SF - Single FamilyTH - Condominium TownhouseMonths of Supply - Active Listings (Inventory) / salesComposite - includes single family, apartment and townhouse activityAverage DOM - Average Days on Market for Sold propertiesSales $ / List $ - sales price to list price ratioActive Listings Total listings on the market as of 4:30am on the first ofday of the month
LP - List PriceSP Sales PriceCRES - Country residential propertiesYTD - Year to Date3 month MA - 3 month Moving AverageY/Y Year over YearNew Listings include listings added for a particulamonth
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 dataprovided through the monthly statistics package as of March 2012, reflect these adjustments. Please note, historicalPDF 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 CalgaryCondominium 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 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.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 bemade for Vacant Lots, Time Shares and Parking Stalls, indicating historic figures could be slightly overstatedcompared to current numbers.
ABOUT CREB
CREB is a professional body of more than 5,100 licensed brokers and registered associates, representing 242 memberoffices. CREB is dedicated to enhancing the value, integrity and expertise of its REALTOR members. Our REALTORSare 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, allhistorical 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 notgenerate statistics or analysis of any individual member or companys market share. All MLS active listings for Calgaryand 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 MultipleListing Service are owned by the Canadian Real Estate Association (CREA) and identify the quality of servicesprovided by real estate professionals who are members of CREA. The trademarks REALTOR and REALTORS arecontrolled by CREA and identify real estate professionals who are members of CREA, and subsequently the AlbertaReal Estate Association and CREB used under licence