Calgary Real Estate Market - Home Sales Charts - Year-Ending Dec 31, 2021
The first chart is the total home sales for Calgary in all three main categories of home types. The three types in the Calgary MLS Database system are Detached Single Family Homes, Attached Homes and condos. The Calgary Real Estate Market is considered a sellers or a buyers market when we are above or below three months of supply. Look at any chart to see how many properties were sold last month. If we have three times that number in current listings we are in a balanced housing market in Calgary. Less than 3 months favours Sellers over Home Buyers. More than three months and Buyers Rule the day. The supply and demand of homes in the three distinct home types in Calgary are the net effect of everything else happening in the world. Mortgage Interest Rates, Employment, new homes being built, politics, etc. all eventually show up in the actual supply and demand numbers. These are the only charts you ever need to see to get an overall glimpse of today's Calgary Real Estate Market.
Single Family Detached Homes continue to favour Home Sellers
My prediction is this will continue for some time. It's very hard to flood the market with detached single-family homes even in a lousy economy.
Attached Homes Sales have picked up as many Detached house buyers are forced to look elsewhere
Attached homes are second on the list for most home buyers and sales usually reflect that. In the current market attached homes are enjoying the short supply in detached homes
Condos get the least amount of love in the Calgary Real Estate Market
Condos are at the bottom of most people's wish list for a Calgary home and the supply and demand numbers back that up. Condos have got a bit of a bump as the tide of the overall market rises. But still lag badly as a home choice for Calgarians and Real Estate Investors. I wonder if all these buildings that converted to condos years ago might start to revert to rental buildings. If you are buying a condo, don't forget you will own your portion of the entire structure along with its liabilities. Buyer Beware applies to everything and more so to condos in my opinion.