Calgary real estate stats continue to be a mixed bag with different property types displaying very different market conditions.
Here are a few snapshot stats for you…
Total number of sales for 2017:
Detached houses: up 5.6% from 2016
Attached houses/townhouses: up 8.2% from 2016
Apartments: up 5.3% from 2016
Benchmark Price in Dec 2017:
Detached houses: up 0.14% from 2016
Attached houses/townhouses: up 0.21% from 2016
Apartments: down 3.3% from 2016
Months of Supply (balanced market is around 3 months, below 3 is seller’s market, above 3 is buyer’s market):
Detached houses: 3.3
Attached houses/townhouses: 5.0
Apartments: 7.0
Within these categories, there are also geographic variations.
For example, apartment prices in the west end of Calgary are down just 1% year over year while apartments in the east end are down 7.3%!
The west end also fared well in the detached sector, with prices up 4.5% year over year. Meanwhile, the east end, deep south, far north and northeast areas all decreased in price year over year.
Overall the market has shown a lot of stability compared to the past two years. All categories saw slight increases in price through the busier spring/early summer months before declining again toward the end of the year, which is quite typical in Calgary.
Months of supply is one of the best markers to watch as it show us how “hot” the market is. Lower numbers mean a hotter market. You can see here the detached market is much hotter than the apartment market. This will likely carry on through 2018.
More stats to come after the Calgary Real Estate Board annual forecast later this month so stay tuned!
For full annual stats for your own neighbourhood, drop us a line!
-Amie
