Calgary Home Buyers Getting More Choices Heading Into The Spring Real Estate Market as Sellers Rush Towards the Exit Doors!
106 homes are being sold daily so far in February. That is close to the daily high of April last year. Detached homes account for over 1/2 the daily sales number so far. Attached homes are seeing demand not seen in years with an average of 28 sales per day. That is higher than any month last year. Condo sales are also benefiting from the detached seller's market as daily sales are hitting new highs as well.
Inventory should continue to jump as eager sellers head for the exit doors. Picky and Patient Calgary Home Buyers will be rewarded with more selection soon. Calgary Realtors should also get a bit better at pricing homes which will tighten the spreads between asking and selling prices.
In the charts below you see the % of Listings Sold on a month-to-month basis. A Balanced Calgary Real Estate Market happens around 33%. At 33% we theoretically have three months supply of housing inventory. This means if no new listings came on the market, after three months there would be no houses to buy. Above 33% sales leans towards a Sellers Market because available homes are selling at a faster rate than three months supply. And of course, less than three months or 33% is a home buyers market. Labelling a Real Estate Market can be applied at all levels and within all home types to drill down for more relevant data. These charts start with the Combined Home Types in Calgary, then get divided amongst the major home styles of Detached Homes, Attached Homes & Condos. We can drill down farther to the City of Calgary 4 Quadrants of NW, NE, SW, and SE. Or the 8 MLS® Districts of Calgary. Or down to your community and home type. And then whatever time periods you are interested in. Last 3 years or the last 23 years, we can give you the stats you want to better understand the micro and macro real estate markets in Calgary. Call me anytime Jerry Charlton 403 831 0842 and I will get you the stats that matter most to you.