Below you will find the Creb summary for April 2015. To see the full report please go to http://bit.ly/1FKNI4w

If you have any questions or wish to learn more about how your property in today's market please do not hesitate to contact me directly (403) 701-7139.


Calgary, May 1, 2015 - After the fifth consecutive monthly benchmark price decline in Calgary, the number of new home listings eased to 3,064 units in April, an 18 per cent decrease over the previous year.

 

“With fewer buyers making purchase decisions and improved selection for resale, new home and rental property, sellers have been either adjusting their expectations on price or delaying their plans about when to list their home,” said CREB® president Corinne Lyall.

 

Sales activity in April totaled 1,957 units, 22 per cent below last year’s levels and nearly 15 per cent below April’s long term averages. Despite weak sales levels, the drop in new listings prevented strong gains in overall inventory levels and helped improve absorption rates in the market.

 

“While conditions continue to favour the buyer, both the months of supply and the sales to new listings ratio, which represent measures of market balance, tightened in April,” said CREB® chief economist Ann-Marie Lurie. “If this trend continues, it should help prevent resale inventories from rising to previous highs and limit some of the downward price pressures we’ve been seeing.”

 

Benchmark prices for detached homes totaled $510,200 in April, which represents an unadjusted decline of 0.7 per cent from last month and 1.9 per cent higher than April 2014 figures. Meanwhile, apartment product recorded a monthly decline of 0.7 and a year-over year decline of 0.2 per cent

 

Year-to-date apartment sales activity has declined by 33 per cent, while new listings have risen by nearly eight per cent. Despite the recent shift in new listings, months of supply in this sector remain elevated, causing steeper monthly price declines and a year-over- year price contraction.

 

“There’s improved selection across all segments of the market, which takes some of the urgency away for buyers as they consider all of their options before making a purchase decision,” said Lyall. “Sellers have more competition and need to be aware of how much product is available in comparable neighborhoods.”

 

The detached sector continues to be the most balanced out of the three market sectors. For the second month in a row, the sales to new listings ratio and the months of inventory moved to levels that are more consistent with balanced conditions. However, the detached market does vary significantly depending on the price range.

 

“Higher priced properties in the detached sector saw a noticeable decline in absorption levels city-wide, indicating there is less demand relative to supply levels,” said Lurie. “This does not come as a surprise as many of the job losses in recent months have occurred in the higher paying sectors.”

 

Meanwhile, areas outside city limits are also impacted by the slower economic conditions. Year-to-date sales activity in the surrounding areas totaled 1,346 units, a 26 per cent decline. Despite positive growth following the first quarter, April benchmark prices totaled $434,800, 0.4 per cent below last month’s figures and 5.8 per cent above April 2014 figures.

 

“Market impacts on pricing are wide ranging and ultimately depend on the location, property type, specific features and amount of comparable supply available,” said Lyall. Both buyers and sellers need to be aware of the local market conditions and adjust their expectations accordingly.”

 

 

 

Read full post
Categories:   Acadia, Calgary Real Estate | Airdrie, Airdrie Real Estate | Altadore River Park, Calgary Real Estate | Applewood Park, Calgary Real Estate | Applewood, Calgary Real Estate | Auburn Bay, Calgary Real Estate | Banff Trail, Calgary Real Estate | Bankview, Calgary Real Estate | Beddington, Calgary Real Estate | Beltline, Calgary Real Estate | Braeside Braesde Est, Calgary Real Estate | Braeside_Braesde Est, Calgary Real Estate | Bragg Creek, Bragg Creek Real Estate | Bridlewood, Calgary Real Estate | Buying | Buying a Home | Buying a Secondary Suite Home | Buying Your First Home | Calgary, Calgary Real Estate | Canyon Meadows, Calgary Real Estate | Capitol Hill, Calgary Real Estate | Castleridge, Calgary Real Estate | Cedarbrae, Calgary Real Estate | Chaparral, Calgary Real Estate | Chestermere, Chestermere Real Estate | Christie Park Estate, Calgary Real Estate | Christie Park, Calgary Real Estate | Citadel, Calgary Real Estate | Coach Hill, Calgary Real Estate | Cochrane, Cochrane Real Estate | Connaught, Calgary Real Estate | Copperfield, Calgary Real Estate | Coral Springs, Calgary Real Estate | Cougar Ridge, Calgary Real Estate | Coventry Hills, Calgary Real Estate | Cranston, Calgary Real Estate | Crescent Heights, Calgary Real Estate | Crossfield, Crossfield Real Estate | De Winton, De Winton Real Estate | Deer Ridge, Calgary Real Estate | Discovery Ridge, Calgary Real Estate | Douglas Rdg Dglsdale, Calgary Real Estate | Douglas Rdg_Dglsdale, Calgary Real Estate | Douglasdale Estates, Calgary Real Estate | Douglasdale/Glen, Calgary Real Estate | Douglasglen, Calgary Real Estate | Dover, Calgary Real Estate | Downsizing Your Home | Downtown West End, Calgary Real Estate | Downtown, Calgary Real Estate | Eastlake Industrial Centre, Calgary Real Estate | Eau Claire, Calgary Real Estate | Erinwoods, Calgary Real Estate | Erlton, Calgary Real Estate | Evergreen, Calgary Real Estate | Falconridge, Calgary Real Estate | Foothills Ind Pk S, Calgary Real Estate | For the first time since December 2014, Calgary’s residential unadjusted benchmark prices improved over the previous month. | Forest Lawn, Calgary Real Estate | Garrison Woods, Calgary Real Estate | Glamorgan, Calgary Real Estate | Glendle Glendle Mdws, Calgary Real Estate | Haysboro, Calgary Real Estate | Heritage Pointe, Heritage Pointe Real Estate | Hidden Valley, Calgary Real Estate | Home Buying | Home Staging | Improved sales to new listings ratio reduces inventory gains | info | infographic | Inforgraphic | Kelvin Grove, Calgary Real Estate | Kincora, Calgary Real Estate | Kingsland, Calgary Real Estate | Lake Bonavista, Calgary Real Estate | Lakeview, Calgary Real Estate | Langdon, Langdon Real Estate | Lincoln Park, Calgary Real Estate | Lower Mount Royal, Calgary Real Estate | Mahogany, Calgary Real Estate | Maple Ridge, Calgary Real Estate | Market | Market U | Market Updates | Marlborough Park, Calgary Real Estate | Marlborough, Calgary Real Estate | Martindale, Calgary Real Estate | Mayland Heights, Calgary Real Estate | McKenzie Lake, Calgary Real Estate | McKenzie Towne, Calgary Real Estate | Midnapore, Calgary Real Estate | Millrise, Calgary Real Estate | Mission, Calgary Real Estate | Montgomery, Calgary Real Estate | Nanton, Nanton Real Estate | New Brighton, Calgary Real Estate | North Glenmore, Calgary Real Estate | Oakridge, Calgary Real Estate | Ogden Lynnwd Millcan, Calgary Real Estate | Ogden, Calgary Real Estate | Okotoks, Okotoks Real Estate | Panorama Hills, Calgary Real Estate | Parkhill Stanley Prk, Calgary Real Estate | Patterson, Calgary Real Estate | Penbrooke, Calgary Real Estate | Prominence Patterson, Calgary Real Estate | Pump Hill, Calgary Real Estate | Queensland, Calgary Real Estate | Radisson Heights, Calgary Real Estate | Ranchlands Estates, Calgary Real Estate | Real Estate Updates & Insights | Redcarpet Mountview, Calgary Real Estate | Renfrew, Calgary Real Estate | Richmond Park Knobhl, Calgary Real Estate | Riverbend, Calgary Real Estate | Royal Oak, Calgary Real Estate | Rundle, Calgary Real Estate | Rural Foothills M.D., Rural Foothills M.D. Real Estate | Rural Rocky View MD, Rural Rocky View County Real Estate | Rural Rocky View MD, Rural Rocky View MD Real Estate | Rural Rocky View MD, Rural Rockyview County Real Estate | Saddle Ridge, Calgary Real Estate | Saddleridge, Calgary Real Estate | Scarboro, Calgary Real Estate | Selling | Selling Advice | Selling Advice & Tips | Selling Your Home | Selling Your Home Tips | Shawnee Slps Evergreen Est, Calgary Real Estate | Shawnee Slps_Evergreen Est, Calgary Real Estate | Shawnessy, Calgary Real Estate | Sherwood Calgary, Calgary Real Estate | Signl Hll Sienna Hll, Calgary Real Estate | Signl Hll_Sienna Hll, Calgary Real Estate | Silverado, Calgary Real Estate | Skyview Ranch, Calgary Real Estate | Somerset, Calgary Real Estate | South Calgary, Calgary Real Estate | South Foothills, Calgary Real Estate | Southwood, Calgary Real Estate | Springbank Hill, Calgary Real Estate | Spruce Cliff, Calgary Real Estate | Strathcona Park, Calgary Real Estate | Sundance, Calgary Real Estate | Sundre, Sundre Real Estate | Sunnyside, Calgary Real Estate | Taradale, Calgary Real Estate | Temple, Calgary Real Estate | Tips from Travis | Tuscany, Calgary Real Estate | Tuxedo, Calgary Real Estate | Upper Mount Royal, Calgary Real Estate | Valley Ridge, Calgary Real Estate | Varsity, Calgary Real Estate | Victoria Park, Calgary Real Estate | Walden, Calgary Real Estate | West Hillhurst, Calgary Real Estate | West Springs, Calgary Real Estate | Whitehorn, Calgary Real Estate | Windsor Park, Calgary Real Estate | Winston Heights/Mountview, Calgary Real Estate | Winston Heights_Mountview, Calgary Real Estate | Woodbine, Calgary Real Estate | Woodlands, Calgary Real Estate
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.