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It is no surprise to those watching the housing market that Calgary and surrounding areas continue to see a slowdown in sales activity. Buyers are expecting to see further declines in sale prices, and sellers are responding to the softening market. This makes for a slower market with less inventory. 

 

Here is a summary of some of the top stats from this month.

 

 

• The average year-to-date benchmark price decline within the city districts has ranged from highs of 5.1% (City Centre) to lows of 0.8% (North East). • The pullback in detached new listings helped balance out declining sales.

 

• Detached sales account for around 63% of the entire market this year. Yearto-date, there has been 6,908 sales, which is 22% below the ten year average and the lowest level since 1996;

 

• Year-to-date apartment sales totaled 1,668 units, a 21% decline over last year, which already recorded an 33% annual drop compared to 2014;

 

• Months of supply in the apartment sector has averaged 6.3 months this year, far higher than the 3.0 and 4.2 in detached and attached product;

 

• The average apartment price showed a year-over-year gain of 13%. This does not reflect any change in trend, as the jump was caused by one high end sale that skewed the numbers.

Data supplied by CREB®’s MLS ® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.