Single Family Months of Inventory. Condo Months of Inventory. May calgary regional housing market statistics

Transcription

1 May 2011 calgary regional housing market statistics INNER CITY HOUSING MARKET LEADS IN SALES Buyers find value in inner city communities Total Single Family Months of Inventory Calgary, June 1, 2011 According to figures released today by CREB (Calgary Real Estate Board), year-to-date residential sales in the inner city grew nearly 4 per cent, outperforming the city wide average. City of Calgary residential sales totaled 1,816 in May 2011, a 2 per cent increase in volume over May However, slower early spring sales resulted in the overall year-to-date sales being 3 per cent lower than the 2010 spring market Single Family Months of Inventory LR Average As the city grows, improvements in the inner city communities are consistent with changing preferences in lifestyle options. Consumers are looking for shorter commute times to work and easy access to a wider range of services provided by these inner city communities, says Sano Stante, president of CREB. Many of these communities are surrounded by abundant amenities such as parks, mature trees, diverse shopping and transit which appeals to a wide range of consumers; furthermore, inner city homes can be considered a stable real estate investment, as there is significant value in land located near the city s core. Total Condominium Months of Inventory Total Condomnium Months of Inventory Calgary The average price for single family homes in May 2011 was $489,482 and the median price $423,000, comparable to levels recorded last year. Single family home sales were 1,313 in May 2011, a 5 per cent increase over last year, while 2,552 listings came to market, a 14 per cent decline over the same period last year. Condo Months of Inventory LR Average The decline in listings has caused inventory levels to come down to 4,616 units, an 18 per cent decline from last year. Moderate sales and a reduction in inventory have resulted in a decline in months of supply compared to May To date, the single family market has fared better than the condominium market, as prices have come down from peak levels recorded in 2007 providing individuals more options with regard to home ownership, noted Stante. After the first five months of the year, single family home sales were 5,835 units, consistent with sales levels during the same time frame last year. With just under four months supply, we expect single family home prices to remain stable in the coming months, says Stante. Provided that interest rates remain moderated, we are positive about the near term stability and recovery in the Calgary real estate market. While condominiums continue to experience some decline in sales and prices, the rate of decline seems to be easing, indicating signs of improvement in this market adds Stante. The inventory of condominiums continues to remain higher than average, but has declined by 21 per cent from levels recorded in May Condominium sales were 503 for May 2011, 3 per cent lower than last year s figures. Year-to-date condominium sales are 11 per cent lower than last year s levels, however, listings have declined by 19 per cent as well over the same time frame, placing downward pressure on inventories. Full time employment growth has been sluggish in Calgary, with only notable improvements occurring in April, says Stante. All indications point to the trend that as full-time employment growth takes hold in the later portion of the year, so too will improvements in migration, ultimately translating into improvements in the housing market. About CREB CREB is a professional body of more than 5300 licensed brokers and registered associates, representing 244 member offices. CREB is dedicated to enhancing the value, integrity and expertise of its REALTOR members. Our REALTORS are committed to a high standard of professional conduct, ongoing education, and a strict Code of Ethics and standards of business practice. Any use or reference to CREB data and statistics must acknowledge CREB as the source. The board does not generate statistics or analysis of any individual member or company s market share. Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas. All MLS active listings for Calgary and area may be found on the board s website at

2 CREB TOTAL MLS FOR MAY Mth Chg **YTD 2011 **YTD 2010 YTD Chg SINGLE FAMILY(Calgary Metro) Month End Inventory 4,616 5,649 n/a n/a n/a n/a New Listings added 2,552 2, % 11,512 13, % Sales 1,313 1, % 5,835 5, % Avg DOM % % Average Sale Price 489, , % 470, , % Median Price 423, , % 408, , % CONDOMINIUM (Calgary Metro) Month End Inventory 2,092 2,656 n/a n/a n/a n/a New Listings added 1,017 1, % 4,829 5, % Sales % 2,386 2, % Avg DOM % % Average Sale Price 287, , % 286, , % Median Price 268, , % 262, , % TOWNS (outside Calgary) Month End Inventory 3,029 2,897 n/a n/a n/a n/a New Listings added 1, % 4,308 4, % Sales % 1,521 1, % Avg DOM % % Average Sale Price 343, , % 348, , % Median Price 330, , % 325, , % COUNTRY RESIDENTIAL(Acreages) Month End Inventory 1,168 1, % n/a n/a n/a New Listings added % 1,295 1, % Sales % % Avg DOM % % Average Sale Price 803, , % 807, , % Median Price 750, , % 750, , % RURAL LAND Month End Inventory % n/a n/a n/a New Listings added % % Sales % % Avg DOM % % Average Sale Price 437, , % 408, , % Median Price 330, , % 340, , % TOTAL MLS* Month End Inventory 11,650 12, % n/a n/a n/a New Listings added 5,117 5, % 22,545 25, % Sales 2,315 2, % 10,138 10, % Avg DOM % % Average Sale Price 428, , % 416, , % Median Price 370, , % 362, , % *Total MLS includes Mobile Listings **Year-to-date values in the monthly statistics package will accurately reflect our database at that specific point in time.

3 CREB CALGARY METRO BY PRICE May-11 May-10 SINGLE FAMILY Month **Y.T.D. Month **Y.T.D. 0-99, % % % % 100, , % % % % 200, , % % % % 300, , % % % % 350, , % 1, % % 1, % 400, , % % % % 450, , % % % % 500, , % % % % 550, , % % % % 600, , % % % % 650, , % % % % 700, , % % % % 800, , % % % % 900, , % % % % 1,000,000-1,249, % % % % 1,250,000-1,499, % % % % 1,500,000-1,749, % % % % 1,750,000-1,999, % % % % 2,000,000-2,499, % % % % 2,500,000-2,999, % % % % 3,000,000-3,499, % % % % 3,500,000-3,999, % % % % Over 4,000, % % % % 1,313 5,834 1,256 5,786 CONDO 0-99, % % % % 100, , % % % % 200, , % 1, % % 1, % 300, , % % % % 350, , % % % % 400, , % % % % 450, , % % % % 500, , % % % % 550, , % % % % 600, , % % % % 650, , % % % % 700, , % % % % 800, , % % % % 900, , % % % % 1,000,000-1,249, % % % % 1,250,000-1,499, % % % % 1,500,000-1,749, % % % % 1,750,000-1,999, % % % % 2,000,000-2,499, % % % % 2,500,000-2,999, % % % % 3,000,000-3,499, % % % % 3,500,000-3,999, % % % % Over 4,000, % % % % 503 2, ,673 **Year-to-date values in the monthly statistics package will accurately reflect our database at that specific point in time. Older monthly statistics will not reflect up-to-date changes that naturally occur.

4 CREB TOWN AND COUNTRY BY PRICE CATEGORY May-11 May-10 TOWNS Month **Y.T.D. Month **Y.T.D. 0-99, % % % % 100, , % % % % 200, , % % % % 300, , % % % % 350, , % % % % 400, , % % % % 450, , % % % % 500, , % % % % 550, , % % % % 600, , % % % % 650, , % % % % 700, , % % % % 800, , % % % % 900, , % % % % 1,000,000-1,249, % % % % 1,250,000-1,499, % % % % 1,500,000-1,749, % % % % 1,750,000-1,999, % % % % 2,000,000-2,499, % % % % 2,500,000-2,999, % % % % 3,000,000-3,499, % % % % 3,500,000-3,999, % % % % Over 4,000, % % % % 395 1, ,718 COUNTRY RESIDENTIAL (ACREAGES) 0-99, % % % % 100, , % % % % 200, , % % % % 300, , % % % % 350, , % % % % 400, , % % % % 450, , % % % % 500, , % % % % 550, , % % % % 600, , % % % % 650, , % % % % 700, , % % % % 800, , % % % % 900, , % % % % 1,000,000-1,249, % % % % 1,250,000-1,499, % % % % 1,500,000-1,749, % % % % 1,750,000-1,999, % % % % 2,000,000-2,499, % % % % 2,500,000-2,999, % % % % 3,000,000-3,499, % % % % 3,500,000-3,999, % % % % Over 4,000, % % % % **Year-to-date values in the monthly statistics package will accurately reflect our database at that specific point in time. Older monthly statistics will not reflect up-to-date changes that naturally occur.

5 Style Inventory CALGARY METRO CREB SINGLE FAMILY BY STYLE May 2011 Listings Added Sales Avg Price Total Sales Median Price Avg DOM S$/L$ NW BK-SP , , , % BLEVL ,423 15,056, , % BUNG ,013 55,553, , % BUNGH ,850 2,667, , % BUNGS , , , % SPLT ,798 10,709, , % SPLT , , , % SPLT ,096 6,869, , % SPLT ,300 1,512, , % ST ,438 3,699, , % ST , ,754, , % ST ,070,750 4,283, , % ST , , , % VILLA , , , % NE BK-SP % BLEVL ,843 5,276, , % BUNG ,856 12,857, , % BUNGH % SPLT , , , % SPLT ,333 1,682, , % SPLT ,467 4,702, , % ST , , , % ST ,883 19,018, , % SW BK-SP % BLEVL ,588 5,131, , % BUNG ,412 55,684, , % BUNGH ,500 1,862, , % BUNGS % SPLT ,282 17,199, , % SPLT ,667 1,427, , % SPLT ,028 12,069, , % SPLT ,207,917 3,623,750 1,223, % ST ,357 5,140, , % ST , ,829, , % ST ,081 3,704, , % ST , , , % VILLA ,255 1,322, , % SE BK-SP , , , % BLEVL ,536 5,213, , % BUNG ,586 23,216, , % BUNGH % SPLT ,333 10,014, , % SPLT , , , % SPLT ,571 2,965, , % SPLT % ST % ST ,682 58,646, , % ST % VILLA % NOTE: The above sales totals and median prices are for detached homes only.these figures do not include: Residential Attached, Duplex Side by Side, Duplex Up and Down, Townhouse, or Vacant Lot.

6 Style Inventory CREB CALGARY METRO CONDO BY STYLE May 2011 Listings Added Sales Avg Price Total Sales Median Price Avg DOM S$/L$ NW APART ,552 15,915, , % APRTM ,451 1,838, , % BK-SP ,000 88,000 88, % BLEVL ,778 2,293, , % BUNG ,200 1,616, , % BUNGH % PENTH % SPLT , , , % SPLT % SPLT ,667 1,025, , % SPLT , , , % ST ,318 15,375, , % ST % ST , , , % VILLA ,333 1,195, , % NE APART ,056 1,440, , % BLEVL , , , % BUNG , , , % SPLT % SPLT % ST ,542 2,070, , % ST % VILLA % SW APART ,296 50,351, , % APRTM ,250 2,255, , % BK-SP , , , % BLEVL , , , % BUNG ,790 3,407, , % BUNGS % LOFT , , , % PENTH , , , % SPLT , , , % SPLT , , , % SPLT ,400 1,357, , % SPLT , , , % ST , , , % ST ,768 18,577, , % ST , , , % ST ,667 1,610, , % VILLA ,250 3,007, , % SE APART ,923 5,190, , % APRTM % BLEVL % BUNG , , , % LOFT % SPLT , , , % SPLT , , , % SPLT % ST ,150 7,361, , % ST % VILLA %

7 CREB - COMMERCIAL SUMMARY Year to Date May 31, 2011 Type Sold or Leased Sold or Leased Avg Price or Lse / M 2 Avg DOM Total Sales SP / LP IND L OFC L RET L AGR S 3 313, , % BUS S , ,483, % BWP S , ,282, % IND S 8 511, ,090, % LAN S 8 1,069, ,485, % MFC S , ,951, % OFC S 8 533, ,270, % RET S , ,690, % Year to Date May 31, 2010 Type Sold or Leased Sold or Leased Avg Price or Lse / M 2 Avg DOM Total Sales SP / LP IND L OFC L RET L AGR S 11 1,949, ,441, % BUS S 27 85, ,319, % BWP S 6 399, ,397, % IND S , ,498, % LAN S , ,780, % MFC S , ,748, % OFC S , ,521, % RET S 8 610, ,882, %

8 Sales Inventory CREB TOTAL MLS MAY Avg Sale Price Median Sale Price $500, # Sales/Inventory , , , , , , , , , , , , , , , , , , , , , , , , , , $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 Average/Median Sales Price 4000 $100, $50,000 0 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 $0

9 CREB ABSORPTION RATE TOTAL MLS MAY Balanced Market 2 0 May 08 Jul 08 Sep 08 Nov 08 Jan 09 Mar 09 May 09 Jul 09 Sep 09 Nov 09 Jan 10 Mar 10 May 10 Jul 10 Sep 10 Nov 10 Jan 11 Mar 11 May 11 16,000 Inventory Sales CREB TOTAL MLS MAY ,000 12,000 10,000 8,000 6,000 4,000 2,000 0 May 08 Jul 08 Sep 08 Nov 08 Jan 09 Mar 09May 09 Jul 09 Sep 09 Nov 09 Jan 10 Mar 10 May 10 Jul 10 Sep 10 Nov 10 Jan 11 Mar 11May 11

10 CREB TOTAL MLS MAY ,000 New Listings Sales 6,000 5,000 4,000 3,000 2,000 1,000 0 May 08 Jul 08 Sep 08 Nov 08 Jan 09 Mar 09May 09 Jul 09 Sep 09 Nov 09 Jan 10 Mar 10May 10 Jul 10 Sep 10 Nov 10 Jan 11 Mar 11May 11 CREB TOTAL MLS INVENTORY AS OF MAY 2011 MONTH END 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 12,989 11,