Market continues to favour the seller in October

Market continues to favour the seller in October

City of Calgary, Nov. 1, 2021 - There were 2,186 sales in October, a record high for the month and over 35 per cent higher than longer-term averages. Year-to-date sales are on pace to hit new record highs and are currently 61 per cent higher than average activity recorded over the past five years and 42 per cent higher than 10-year averages.

“Moving into the fourth quarter, the pace of housing demand continues to exceed expectations in the city,” said CREB® Chief Economist Ann-Marie Lurie.

“Much of the persistent strength is likely related to improving confidence in future economic prospects, as well as a sense of urgency among consumers to take advantage of the low-lending-rate environment.”

New listings have improved relative to last year, but stronger sales caused further easing in inventory levels, which remain 16 per cent lower than last year and longer-term averages for the month. Supply levels have struggled to keep pace with demand, but much of the decline in the months of supply has been related to the strong sales levels. As of October, the months of supply dipped to just over two months.

Persistently tight market conditions did cause some benchmark price gains this month. The benchmark price in October reached $460,100, slightly higher than last month and nearly nine per cent higher than the $422,600 recorded last October.

Date
No. of New Sale
No. of New Listings
Sale Price to List Price Ratio
Median Price
Average Price
AvG. Days on Market
Oct-21
2196
2514
98%
$440,000
$486,360
43
Sep-21
2163
2914
98%
$425,000
$476,621
44
Aug-21
2156
2837
98%
$439,625
$488,143
42
Jul-21
2316
3308
98%
$438,250
$488,798
40
Jun-21
2920
4148
98%
$445,000
$494,678
34
May-21
2997
4578
99%
$458,000
$510,956
32
Apr-21
3206
4694
99%
$455,000
$508,203
33
Mar-21
2895
4449
98%
$460,000
$505,687
35
Feb-21
1825
2857
98%
$440,000
$484,049
45
Jan-21
1205
2254
97%
$418,000
$471,486
57
Dec-20
1199
1173
97%
$402,500
$447,530
59
Nov-20
1438
1733
97%
$415,000
$455,897
55

HOUSING MARKET FACTS

Detached


Thanks to gains in most districts, detached home sales improved by 17 per cent compared to last year. The strongest sales growth this month occurred in the North East and East districts, which are the most affordable districts in the city.

New listings improved relative to last year’s levels, but with 1,350 new listings in October and 1,333 sales, the sales-to-new-listings ratio for detached homes rose to 99 per cent, inventories fell to 2,063 units and the moths of supply dipped below two months.   

Further tightening in the detached market resulted in upward pressure on home prices. In October, the detached price reached $540,900, up nearly one per cent compared with last month and over 10 per cent higher than levels reported last October. On a year-to-date basis, price growth has been the strongest in the North and South East districts, where prices have increased by over 11 per cent.

Date
No. of New Sale
No. of New Listings
Sale Price to List Price Ratio
Median Price
Average Price
AvG. Days on Market
Oct-21
2196
2514
98%
$440,000
$486,360
43
Sep-21
2163
2914
98%
$425,000
$476,621
44
Aug-21
2156
2837
98%
$439,625
$488,143
42
Jul-21
2316
3308
98%
$438,250
$488,798
40
Jun-21
2920
4148
98%
$445,000
$494,678
34
May-21
2997
4578
99%
$458,000
$510,956
32
Apr-21
3206
4694
99%
$455,000
$508,203
33
Mar-21
2895
4449
98%
$460,000
$505,687
35
Feb-21
1825
2857
98%
$440,000
$484,049
45
Jan-21
1205
2254
97%
$418,000
$471,486
57
Dec-20
1199
1173
97%
$402,500
$447,530
59
Nov-20
1438
1733
97%
$415,000
$455,897
55

 

Semi-Detached


Sales continued to improve this month, contributing to the year-to-date record high. However, new listings eased and the sales-to-new-listings ratio rose to 98 per cent as inventories fell. The months of supply, which has trended down over the past several months, once again placed upward pressure on prices in the sector.

The semi-detached benchmark price rose to $427,800 this month, nearly nine per cent higher than last year’s levels. So far this year, sales have improved across every district, but the tightest conditions have been in the South East and North districts. These two districts have also seen the highest year-to-date price gains, which have exceeded 10 per cent.

Date
No. of New Sale
No. of New Listings
Sale Price to List Price Ratio
Median Price
Average Price
AvG. Days on Market
Oct-21
222
226
98%
$405,000
$484,213
39
Sep-21
210
297
98%
$400,000
$465,078
42
Aug-21
177
270
98%
$434,000
$490,464
38
Jul-21
209
320
98%
$410,000
$490,949
37
Jun-21
243
382
98%
$424,900
$509,071
37
May-21
277
376
99%
$425,000
$503,552
30
Apr-21
299
436
99%
$450,000
$537,761
36
Mar-21
269
393
99%
$415,000
$489,967
38
Feb-21
178
254
98%
$462,500
$522,186
41
Jan-21
140
212
97%
$387,750
$478,616
59
Dec-20
127
118
97%
$370,000
$454,596
61
Nov-20
153
165
97%
$390,000
$468,346
61

 

Row


Thanks to improvements across most districts, row sales remained relatively strong in October, contributing to the year-to-date record high. However, unlike other sectors, the row sector did see a significant increase in new listings compared with last year’s levels, preventing a large decline in inventory. This helped push the months of supply back above three months.

The market is not as tight as it was last month, but conditions are still far tighter than levels typically seen during this time of year and vary significantly by district. The months of supply remained below three months in the North, South, South East and East districts in October.

Row prices have not recovered from previous highs, but prices did trend up this month. So far this year, the largest gains have been for row homes in both the East and North East districts, where benchmark prices have averaged less than $200,000 in 2021.

Date
No. of New Sale
No. of New Listings
Sale Price to List Price Ratio
Median Price
Average Price
AvG. Days on Market
Oct-21
271
394
97%
$305,000
$326,783
46
Sep-21
318
418
97%
$295,000
$315,975
52
Aug-21
344
414
98%
$297,250
$319,149
47
Jul-21
351
514
98%
$302,000
$326,475
45
Jun-21
411
612
98%
$313,500
$343,802
39
May-21
417
658
98%
$297,500
$326,820
41
Apr-21
424
633
98%
$305,000
$330,326
45
Mar-21
383
571
98%
$300,000
$327,688
45
Feb-21
258
453
97%
$300,000
$326,171
54
Jan-21
150
373
97%
$290,000
$302,360
67
Dec-20
169
167
96%
$268,000
$301,591
67
Nov-20
191
262
97%
$287,500
$312,655
60


 

Apartment Condominium


Thanks to improvements across the city, October condominium sales were strong relative to both last year’s levels and long-term averages. Nearly half of the condo sales occurred in the City Centre, which was the only district to see monthly sales trend up significantly relative to last month. Some of the sales gains could be related to price adjustments in the district, as October benchmark prices were over three per cent lower than last year’s levels and trended down from last month. The decline in the City Centre prices offset the gains recorded in other parts of the city, causing citywide figures to remain relatively unchanged from levels recorded last October.

Despite some of the monthly shifts on a year-to-date basis, condominium prices have improved by over two per cent compared with last year, with gains ranging from less than one per cent in the City Centre to over six per cent in the West district. Price gains for apartments are far lower than other property types, as the same supply challenges have not existed in this sector.

Date No. of New Sale No. of New Listings Sale Price to List Price Ratio Median Price Average Price AvG. Days on Market
Oct-21 360 531 96% $235,000 $288,118 59
Sep-21 365 632 96% $225,000 $258,051 65
Aug-21 332 572 96% $225,000 $258,609 63
Jul-21 345 642 96% $234,000 $259,793 64
Jun-21 443 748 96% $224,000 $259,103 55
May-21 379 798 97% $244,000 $289,538 53
Apr-21 440 837 96% $234,000 $265,229 57
Mar-21 383 868 96% $230,000 $261,327 54
Feb-21 271 572 96% $238,000 $252,223 70
Jan-21 185 552 95% $220,000 $268,992 66
Dec-20 185 287 95% $212,500 $245,449 73
Nov-20 210 407 95% $215,000 $235,219 66

REGIONAL MARKET FACTS

Airdrie


October was another record-high month for sales. This contributed to year-to-date sales of 2,039, nearly 81 per cent higher than average activity from the past five years. Lifestyle choices, low interest rates and Airdrie’s relatively affordable detached homes compared with Calgary have supported the strong sales.

While new-home starts are ramping up, it has done little to ease the supply shortages facing the resale market. In October, sales outpaced new listings, causing further declines in inventory levels and a months of supply that eased to one month.

Benchmark prices in October were over one per cent higher than last month and over 14 per cent higher than levels reported last year. Gains have been exceptionally strong in the detached segment of the market, where prices are nearly 16 per cent higher than last October.
 

Cochrane


Thanks to a jump in sales for higher-density product, sales this month rose to new record highs. Year-to-date sales have pushed to 1,081 units, which is nearly 95 per cent higher than average activity from the past five years.

There was also a turnaround in new listings, which improved in October after several months of easing. This helped improve some of the supply-demand balances, but the Cochrane housing market continues to struggle with sellers’ market conditions.

While conditions remain tight, there was no additional upward pressure on monthly prices in October compared with previous months. As of October, year-to-date total residential benchmark prices have improved by nearly seven per cent across the entire resale market.  
 

Okotoks


For the second time this year, sales outpaced new listings this month, dropping inventory levels to 74 units. This is nearly 60 per cent lower than traditional levels and resulted in the lowest months of supply ever recorded in October.

Conditions remain exceptionally tight, but prices trended down slightly compared to previous months. However, it is important to note that on a year-to-date basis, total residential prices have improved by over nine per cent.

There were 2,186 sales in October, a record high for the month and over 35 per cent higher than longer-term averages. Year-to-date sales are on pace to hit new record highs and are currently 61 per cent higher than average activity recorded over the past five years and 42 per cent higher than 10-year averages.

“Moving into the fourth quarter, the pace of housing demand continues to exceed expectations in the city,” said CREB® Chief Economist Ann-Marie Lurie.

“Much of the persistent strength is likely related to improving confidence in future economic prospects, as well as a sense of urgency among consumers to take advantage of the low-lending-rate environment.”

Below is a list of current Homes for sale in Calgary, AB

3819 Properties
Page 1 of 319
$630,000
Subdivision: Brentwood
5
Beds
4
Baths
1,652
Sq.Ft.
1959
Year Built
1
Day on Site
A1164347
MLS®
This large gorgeous bungalow is located in one of the best community in Calgary. Close to U of C, shopping center, schools, playgrounds and parks. This 1650 Sqft bungalow features total 5 bedrooms, 2...
$299,900
Subdivision: Silverado
2
Beds
2F11/2
Baths
1,135
Sq.Ft.
2012
Year Built
1
Day on Site
A1164405
MLS®
With open views, lots of privacy in the front and the back, and its proximity to the visitors parking, this is one of the best locations in the complex. The WEST facing patio and front of this home...
$190,000
Condo: Nose Creek Gardens
2
Beds
1
Baths
1,072
Sq.Ft.
1982
Year Built
1
Day on Site
A1164543
MLS®
|| Welcome to #1 201 Grier Terrace NE || This stunning corner unit townhouse has everything to offer. As you enter through the main entrance you are greeted by a lovely seating area to remove your...
$530,900
Subdivision: Point Mckay
3
Beds
2F11/2
Baths
1,271
Sq.Ft.
1980
Year Built
1
Day on Site
A1164532
MLS®
Welcome home to 506 Point Mckay NW! This like new home is located on a quiet street and features 3 generous above grade bedrooms, 2.5 bathrooms, close to 1600 sq ft of fully finished living space and...
$429,900
Subdivision: Pineridge
4
Beds
2F11/2
Baths
1,145
Sq.Ft.
1980
Year Built
1
Day on Site
A1153335
MLS®
*** Back on the market, due to financing*** You ve been given a second chance on this great 4 level split on a quiet street with a big Sunny west facing Pie-lot in Pineridge. This house has seen...
$246,000
Subdivision: Auburn Bay
2
Beds
2
Baths
1,033
Sq.Ft.
2014
Year Built
1
Day on Site
A1164317
MLS®
This bungalow style townhouse in Auburn Bay is perfect for a young family, couple or investment property. At just over 1000 sq.ft , this two bedroom home has a great modern and open floor plan with...
$499,900
Subdivision: Kincora
3
Beds
2F11/2
Baths
1,666
Sq.Ft.
2003
Year Built
1
Day on Site
A1163905
MLS®
Spectacular 2 storey home with a double attached garage in the desirable community of Kincora. This well appointed 3 bed, 2.5 bath home has luxurious hardwood and slate tile flooring throughout the...
$350,000
Subdivision: South Calgary
2
Beds
2
Baths
939
Sq.Ft.
2009
Year Built
1
Day on Site
A1164592
MLS®
THIS IS THE DREAM!! Top floor, corner unit with sweeping VIEWS from downtown and west to the mountains - this is the most desirable unit in the building - SPECTACULAR! This two bed PLUS den/home...
$435,000
Subdivision: Monterey Park
5
Beds
2
Baths
1,089
Sq.Ft.
1984
Year Built
1
Day on Site
A1157889
MLS®
First-Time Home Owner and Investor Alert!! This beautiful bi-level home with 3 bedrooms up and 2 bedrooms down is located in the family-friendly community of Monterey Park. INCLUDES Separate entrance...
$209,900
Subdivision: Braeside
3
Beds
1F11/2
Baths
1,050
Sq.Ft.
1970
Year Built
1
Day on Site
A1162273
MLS®
Affordable living in this convenient SW Calgary community of Braeside...A recently refreshed and renovated home ~ Boasting Fresh Paint, New Vinyl Plank Floors, Updated Light Fixtures, Updated...
$215,000
Subdivision: Bankview
2
Beds
1
Baths
739
Sq.Ft.
1977
Year Built
1
Day on Site
A1164495
MLS®
FALL IN LOVE WITH BANKVIEW LIVING!

This cozy condo located on a beautiful tree-lined street just steps from 17th Ave is not one to miss! This well maintained suite features spacious...
$799,900
Subdivision: Brentwood
4
Beds
3
Baths
1,267
Sq.Ft.
1971
Year Built
1
Day on Site
A1164361
MLS®
Welcome to 3512 Brenner Drive NW, situated on a huge sunny tiered lot, nestled in a small alcove in the NW corner of Brentwood, across from the forest of Brenner park and within steps of the K-6...

Phone(403) 270-7601

Email[email protected]

Address Ray Riley
#115 8820 Blackfoot Trail SE
Calgary, AB T2J 3J1

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