August 2020: home sales consistent, but COVID-19 impacts continue

Total residential sales in August were relatively stable compared to last year with year-over-year gains in the detached and row sectors.

These gains offset declines in the apartment and semi-detached sectors.

The 1,573 sales recorded in August are consistent with levels over the past five years. Year-to-date sales activity remains nearly 13 per cent below last year.

Read the full report on the CREB website!

The following data is a comparison between August 2019 and August 2020 numbers, and is current as of September 2020. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable...

July 2020: Detached and semi-detached home sales rise, but economic uncertainty remains

With higher sales for both detached and semi-detached product, July sales totals rose above last year’s levels. Despite the improvements in July, year-to-date sales remain 15% lower than last year’s levels.

COVID-19 shutdowns occurred over the traditionally busiest quarter for real estate sales. Some of the recent gains reflect activity that would have occurred in those months shifting into July. Some demand is returning to the market, but so is the supply.

Inventory levels trended up over the previous month, offsetting some of the sales growth. Higher-density row and apartment products have supply/demand ratios that are well above traditional levels.

Read the full report on the CREB website!...

Sales decline by 2% from last year amidst COVID-19 pandemic

After three months where COVID-19 weighed heavily on the housing market, sales activity in June continued to trend up from the previous month, totalling 1,747 units.

Caution remains necessary, as monthly sales are nearly 2% lower than activity recorded last year. However, this represents a significant improvement compared to the past several months, where year-over-year declines exceeded 40%.

Read the full report on the CREB website!

The following data is a comparison between June 2019 and June 2020 numbers, and is current as of July 2020. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab...

COVID-19’s impact on Calgary housing market continues.

Housing market activity in May remained slow, but sales exceeded the lows from April, which saw less than 600 sales in Calgary.

May sales totalled 1,080 units, a 44% decline from last year’s figures. Sales are down in all price ranges, but a greater share of sales are priced below $500,000.

In the higher price ranges the drop in inventory has not been enough compared to the drop in sales. Additionally, the months of supply is far higher than the already elevated levels seen during the past five years. The shift in sales toward lower-priced product is contributing to steep average price declines in the Calgary market.

Read the full report on the CREB website.

The following data is a comparison between May 2019 and...

Calgary real estate market feeling impact of the pandemic. After the first full month with social distancing measures in place, the housing market is adjusting to the effects of COVID-19.

April sales hit 573 units, a decline of 63% over last year. Sales activity eased across all price ranges, but the largest declines were for homes priced above $600,000.

New listings this month totalled 1,425 units, a decline of 54% compared to last year. Inventories also declined, but with 5,565 units available, they remained high enough to push the months of supply above nine months.

Read the full report over at the CREB website.

The following data is a comparison between April 2019 and April 2020 numbers, and is current as of May 2020. For last month’s numbers, check out our previous infographic...

These are challenging times, and we hope that everyone is healthy and well. For now, here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

As noted in their latest market report, after a strong start to 2020, economic conditions have dramatically changed, as COVID-19 is impacting all aspects of society.

The economic impact is starting to be felt across many industries. This includes the housing market.

March sales activity started the month strong, but quickly changed, as concerns regarding the spread of COVID-19 brought about social distancing measures. This had a heavy impact on businesses and employment.

By the end of March, sales activity had fallen 11% compared to last year. This is 37% lower than long-term averages. The drop in sales pushed...

We are now steadily moving into the month of March, and here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

According to CREB’s latest media release, home sales see a bump and February saw a double-digit gain in sales, but last February was one of the slowest levels of activity since the late ’90s.

With the extra day this February, monthly sales totaled 1,197 units. A combination of these two factors resulted in a 23% improvement over last year, but sales remain well below longer-term trends and consistent with the lower levels reported over the past five years.

As noted by CREB chief economist Ann-Marie Lurie,

“However, this should not diminish the fact that conditions are still improving.

Calgary is continuing to see slow reductions...

Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

In their most recent market update, CREB reports that housing market conditions continue to follow similar trends to last year, with gains in sales.

At the same time, there have been further reductions in new listings, inventory and more declines in prices.

January sales activity was 863 units, nearly 8% higher than last year’s levels. While sales remained well below January activity recorded before 2014, they remain consistent with activity recorded over the past five years.

Citywide unadjusted benchmark prices were $417,100 in January. This is slightly lower than the previous month and nearly 1% lower than last year’s levels.

Benchmark prices eased, but there were some modest ...

Let’s start off the new year on a good note! Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

As CREB has recently announced on their latest media release, December sales improved to levels more consistent with activity recorded over the past five years. This follows weak sales activity last year.

A stronger second half in 2019 was enough to push annual sales up by 1%.

December unadjusted benchmark prices were $418,500. This is just slightly lower than last month and 1% below last year’s levels.

Overall prices in 2019 declined by 3% over last year’s levels. The total adjustment in prices is a 10% decline since the 2014 slowdown in the energy sector.

While there are signs of stabilization, conditions vary significantly by location, price...

Are you as excited as we are for the coming new year? Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

As noted in CREB’s latest media release, year-to-date residential sales in the city remain just above last year’s levels due to improvements in the attached sector so far this year.

However, November sales activity eased over last year’s levels, mostly due to pullbacks in the apartment sector.

Meanwhile, new listings eased enough relative to sales to cause inventories to ease and the amount of oversupply to come down slightly compared to last year’s levels.

According to CREB® chief economist Ann-Marie Lurie,

“Achieving more stable conditions will take time. Sales activity has been settling in at lower levels and is likely being...