What's New 

 Feb 4, 2012FFeb 4, 2012

“One and two bedrooms that are under $1,000 go pretty quick . . . but any type of apartments that are in a decent area are being snatched up very quickly.” Read more in the Herald: Vacancy rates falling as economy picks up 

Feb 2, 2012

"A judge granted the order on Monday"
As you may already know, I'm proceeding with a defamation lawsuit against an internet blogger who has published untrue statements about me; lies in other words. Here is an ongoing case which parallels what I am doing. It illustrates the procedure in bringing someone to justice Golfer Phil Mickelson fed up with person posting "absolutely untrue" statements

Update Feb 3 in Calgary Herald: 

Golfer Phil Mickelson wins lawsuit to reveal identity of online vicious commenter

. Update Feb 3: http://www.calgaryherald.com/sports/story.html?id=6097658 

Feb 2, 2012

Home sales in Calgary are off to a slow start in 2012 as buyers show continuing caution, says the Calgary Real Estate Board. Read more in the Herald: Calgary home buyers show caution

Jan 2012 Stats Update

The median price was $395,000, an increase of $5,000 from 2011.

The average price was $438,683, a decrease of $15,480 from 2011.

Sales at 773 were down 18, or 2.3% from 2011.

Inventory was up by less than 1%

New listings were down by 226, or 11.6%

Historical Comparisons to the average of the past 3 years:

Sales in Dec were up 10.3%

New listings were down 10.9%

Inventory was down 6%

Median price is up 1.9%

Crash Watch: 6 years and still waiting

Jan 30, 2012
The Jan median price at $395,000 is up $5,000, or 1.3% compared to Jan 2011.

Jan 30, 2012
Sales of million-dollar homes are down dramatically in January compared to last year. So far in Jan 2012, only 12 million-dollar homes have sold. In Jan 2011, 24 were sold.

Jan 30, 2012
Compared to the past three years, new listings are down in January, sales are up.

Jan 26, 2012
Based on pendings, we can expect the SFH median price to drop before the end of the month. The 30-day sold price today is $390,000. The median list price of pending sales is at $386,950.

Jan 25, 2012
Interest rates are predicted to stay low for another 2 years. Fed plans ultra-low rates until end of 2014 

Jan 21, 2012
Sales for the first 20 days of January are higher than any of the previous 3 years. New listings are lower than the previous 3 years. 

Jan 19, 2012
It its annual forecast, CREB predicted single-family home sales would jump 12.2 per cent in 2012 to 14,800 transactions while the average sale price would increase by 2.1 per cent to $476,000.

It also forecasts year-over-year sales growth of 5.9 per cent for condominiums to 5,700 units with the average price increasing by 1.7 per cent to $292,00. Read more Calgary MLS sales and prices to rise in 2012

Jan 18, 2012
Sales to first-time buyers were up 11% in December compared to last year. Overall, sales in December were down 1.5%.

Jan 17, 2012 
Bob Jablonski, incoming president of CREB:“I think the consumers started seeing more confidence in the economy overall and they got off the fence and started buying properties. Well-priced listings were selling. There’s always a market for well-priced listings. So people are moving on those.”

Read more in the Herald: New CREB president forecasts upswing in real estate market

Jan 17, 2012
SFH pending sales are 10% lower than last year on this date, however the list price is almost identical to last year.

Jan 16, 2012 
Inventory shortage looming?
Single family home listings for the opening 15 days of 2012 are down 8% from the same time period last year and off 19% from the average of the previous 10 years. With a total of 801 listings, it's lower than only one year in the past ten. With low inventory and a shortage of new listings, it's no wonder that sales are down 11% compared to last year. Buyers have very little to choose from.  With low inventory and  With

Jan 13, 2012
BMO has announced the lowest 5-year fixed mortgage rate in Candian history Why are mortgage rates hitting record lows? Is it worthwhile to try and break your current mortgage? 

Jan 4, 2012
"All those positive economic indicators include strong economic growth, increased net migration and continued employment growth" Calgary's real estate market poised to turn the corner in 2012 

Jan 3, 2012
The Calgary Herald on the 2011 Calgary housing statistics Calgary's residential real estate market saw increased activity in 2011

Jan 3, 2012
Don't just accept what you hear from the bank regarding your payout penalty...

Lawyer's tip

From Fric, Lowenstein and Co. LLP
Barristers and Solicitors

"GREAT JOB BY A REALTOR"

I see files on which Realtors have done a great job for their clients. From time to time I will pass these on to you. (I will change the names to protect the innocent!)

 “June” was recently asked to list a property. She contacted the mortgage company to confirm the balance due on her clients’ mortgage. The mortgage company gave June the balance which included a penalty of over $9,000.00. June thought this looked too large in light of the rate her clients were paying and the balance of the term. She asked the clients for their mortgage documents, checked them and saw that the penalty didn’t seem to make much sense.

 June pressed the bank for an explanation. She had to call the bank several times before the bank provided the basis of its calculation of the payout penalty. When June reviewed that against the clients’ documents it was clear that the bank was overcharging.

After much resistance, the bank backed off, agreed the realtor was right, and reduced the penalty by $6,400.00.

The clients love June for what she did for them!

Payout penalties amount to an enormous amount of money for financial institutions. They can be complicated. I wonder how often people are overcharged?

Once a deal is signed, everyone is under the gun to close the deal. So its best to take a look at payout penalties at the outset of a listing, as was done here.

Bill Fric 

Dec 31, 2011 Stats Update

The median price for Dec 2011 was $393,750, an increase of $4,750 from 2010.

The average price for Dec 2011 was $453,629, an increase of $12,288 from 2010.

Dec sales at 722 were down 11, or 1.5% from 2010.

Year-to-date sales were up 1095, or 9.1% in 2011.

Year-end inventory was up by 1.8%

New listings in Dec were up by 17, or 2.3%

Historical Comparisons to the average of the past 3 years:

Sales in Dec were up 9.4%

New listings were down 4.5%

Inventory was down 4%

Median price is up $3,750.

******

The year ahead

What will happen in 2012? The blogger named Devil's Advocate has predicted it on the Greater Fool blog:

"If the whole period since 2008 is any indication, we are in a flat-line and will experience neither an up nor down over the course of the year ahead. This is the new norm. This is a return to norm, not a departure from it. And this is good because it is stable and predictable and consumers can be reasonably confident going forward that the ground will not shift so much one way or the other going forward. "

Predictions 2011:

ReMax was most accurate, alberta bubble blog(squidly) was off by 146%

Dec 27, 2011 "Calgary and Edmonton to lead the pack"

Next year is shaping up to be a busy year for real estate sales in Calgary. The stable prices, combined with an upsurge in economic activity will see an influx of people to the city. This economic forecast is predicting better than average growth for Calgary housing in 2012:

TD Economics: "Calgary and Edmonton will come out on the winning side, while price corrections will sap the strength of the powerhouse markets in Toronto and Vancouver. "

Among the 12 major markets profiled in this report, Calgary and Edmonton ought to lead the pack.” Solid economic fundamentals and the absence of a recent run-up in prices support our call."

Read the entire report Year in review and a look ahead 

ReMax: "the average MLS sale price will jump by three per cent in 2012 to $417,000, while sales will rise by five per cent to 23,600 units." Read more: Strong 2012 forecast for city's house prices 

 ""Rhttp://www.td.com/document/PDF/economics/special/sg1211_housing.pdf 

Read the entire reporDec 24, 2011
 
Who do you think was off by 140% in their prediction for Calgary home prices for 2011? Who made the most accurate predictions? How did Garth Turner's weasel predictions turn out? Watch for the Predictions Update coming soon.

Nov 2011 stats summary:

Single Family Homes

Median price at $402,925 is up $7,925, or 2% from Oct. It's up .8% from Nov 2010 when it was $399,900

Year-to-date median price is $406,500, down from $408,000 in 2010.

Average price at $470,665 is up $15,266 or 3.4% compared to Oct. It's up $15,069 or 3.3% from Nov 2010 when it was $455,596

Sales price per sq ft at $296 is up $4 compared to Oct. It’s up $3 compared to Nov 2010.

Sales were up 8.1% compared to Nov 2010.

Sales are up 8.7% compared to the average for the past 3 years.

Year-to-date sales are up 9.7%

Inventory on Nov 30 was 3761, which is 2.8% lower than last year.

New listings at 1285 were down 2.3% compared to last year.

New listings are down 9.3% compared to the average for the past 3 years.

The absorption rate of 3.9 means that we have a 3.9 month, or 117 days, supply of homes on the market. Last year, there was a 4.3 month supply. For homes under $500,000, there is a 3.3 month supply.

Days on Market(DOM)were unchanged at 52 in Nov. Last year, it was also 52.

35 homes sold for $1 million or more. Last year, there were 26.

Price reductions are up 2% compared to last year. We've averaged 42 price reductions per day over the past week. Last year was 41. Last month was 74.

18% of the homes listed in Nov already have a sale or a conditional sale. Last month was 14%. Last year, it was 16%.

Condos

Median price at $250,000 is down $12,625 from Oct.

Median price is down $4,150 compared to Nov 2010.

Sales at 393 are up 26.8% compared to Nov 2010

Nov 30, 2011
With a CC index of 0 in November, we can expect prices to stay reasonably stable for the forseeable future.

CC Index

Nov 30, 2011 Stats
For SFH in November,
Median price was up $3,025(+.8%) compared to last year
Average price was up $15,266(+3.4%)
Sales were up 8.2%
Inventory was down 2.8%
Year-to-date sales are up 9.7%
Pendings are up 13%

Nov 29, 2011
First-time buyers are up 34% compared to Nov 2010.

Nov 26, 2011
Compared to the average of the past three years, sales for Nov are up 13% while new listings are down 8%. This trend usually means we're heading for abnormally low inventory levels. If inventory drops below 3500, a seller's market can't be far behind.

Nov 22, 2011
SFH pending sales are 18% higher than last year. Condos are 22% higher.

Nov 19, 2011
The SFH price usually drops in the fall, goes up in the spring. Last year between June-October, the median price dropped $31,000, or 7.4%. This year the drop was only $22,250. or 5.3%.

Nov 15, 2011
Stats to give the bubble bloggers fits: Condo pending sales are running 38% higher than last year.

Nov 14, 2011
 @ Keystone: "this pipeline wasn’t ever really that much more in the interests of the people of Alberta than it was in those of the people of Nebraska. So let’s build an upgrader right here in Alberta and keep the jobs and the profits in Canada.

We can continue to supply our friends in the United States with a product they need, but one in which the value has been added by Canadian hands, earning wealth that stays in Canada." http://www.albertadiary.ca/ 

Nov 14, 2011
Brand new home sales in the inner-city are up 97% compared to last year. Year-to-date, 134 homes built this year have been sold, compared to 68 last year.   

Nov 14, 2011
Inner-city builders are showing more confidence in the future. Sales of older inner-city homes on 50' lots are up 15% for the past 3 months compared to last year. Many of these homes are tear-downs, with 2 infills being built in their place.

Nov 14, 2011
Pending sales are 21% higher than last year at this time. The median list price of SFH pendings is at $409,900 which forecasts a stable median price over the coming week.

 After all, this pipeline wasn’t ever really that much more in the interests of the people of Alberta than it was in those of the people of Nebraska. So let’s build an upgrader right here in Alberta and keep the jobs and the profits in Canada.

We can continue to supply our friends in the United States with a product they need, but one in which the value has been added by Canadian hands, earning wealth that stays in Canada.
 After all, this pipeline wasn’t ever really that much more in the interests of the people of Alberta than it was in those of the people of Nebraska. So let’s build an upgrader right here in Alberta and keep the jobs and the profits in Canada.

We can continue to supply our friends in the United States with a product they need, but one in which the value has been added by Canadian hands, earning wealth that stays in Canada.
 After all, this pipeline wasn’t ever really that much more in the interests of the people of Alberta than it was in those of the people of Nebraska. So let’s build an upgrader right here in Alberta and keep the jobs and the profits in Canada.

We can continue to supply our friends in the United States with a product they need, but one in which the value has been added by Canadian hands, earning wealth that stays in Canada.
 

Nov 13, 2011
Contrary to anecdotal reports, SFH year-to-date average price in Canmore is up $97,077, or +12% compared to last year. Condo average price is up 10%.

Nov 13, 2011
We probably spend a lot of time confirming our own biases  You probably think you know all about self-delusion

CC Index

Oct 2011 stats summary: 

Single Family Homes

Median price at $395,000 is down $5,000, or 1.3% from Sep. It's up 1.5% from Oct 2010 when it was $387,900.

Year-to-date median price is $407,000, down from $409,000 in 2010.

Average price at $455,399 is down $10,768 or 2.3% compared to Sep. It's up $10,655 or 2.4% from Oct 2010 when it was $444,744.

Sales price per sq ft at $292 is down $2 compared to Sep. It’s up $4 compared to Oct 2010.

Sales were up 11.4% compared to Oct 2010.

Sales are down 1% compared to the average for the past 3 years.

Year-to-date sales are up 9.9%

Inventory on Oct 31 was 4486, which is 1% lower than last year.

New listings at 1797 were up 1.8% compared to last year.

New listings are down 8.7% compared to the average for the past 3 years.

The absorption rate of 4.5 means that we have a 4.5 month, or 135 days, supply of homes on the market. Last year, there was a 5.1 month supply. For homes under $500,000, there is a 3.7 month supply.

Days on Market(DOM) increased to 52 in Oct from 48 in Sep. Last year, it was 50.

33 homes sold for $1 million or more. Last year, there were 25.

Price reductions are up 19% compared to last year. We've averaged 74 price reductions per day over the past week. Last year was 62. Last month was 88.

14% of the homes listed in Oct already have a sale or a conditional sale. Last month was 16%. Last year, it was 14%.

Condos

Median price at 262,625 is up $2,625 from Sep.

Median price is up $6,125 compared to Oct 2010.

Sales at 368 are up 19.9% compared to Oct 2010  

Sep 2011 stats summary:

Single Family Homes

Median price at $400,000 is down $2,250, or .6% from Aug. It's up 2.6% from Sep 2010 when it was $390,000.

Year-to-date median price is $408,000. Last year was $410,000.

Average price at $466,167 is up $12,198 or 2.7% compared to Aug. It's up $5,889 or 1.3% from Sep 2010 when it was $460,278.

Sales price per sq ft at $294 is up $4 compared to Aug. It’s up $9 compared to Sep 2010.

Sales were up 8% compared to Sep 2010.

Sales are down 8% compared to the average for the past 3 years.

Year-to-date sales are up 10%

Inventory on Sep 30 was 4753, which is 3% lower than last year.

New listings at 2327 were up 4% compared to last year.

New listings are up 4% compared to the average for the past 3 years.

The absorption rate of 4.6 means that we have a 4.6 month, or 138 days, supply of homes on the market. Last year, there was a 5.1 month supply. For homes under $500,000, there is a 3.8 month supply.

Days on Market(DOM) decreased to 48 in Sep from 49 in Aug. Last year, it was 52.

40 homes sold for $1 million or more. Last year, there were 34.

Price reductions are up 13% compared to last year. We've averaged 88 price reductions per day over the past week. Last year was 78. Last month was 62.

16% of the homes listed in Sep already have a sale or a conditional sale. Last month was 17%. Last year, it was 12%.

Condos

Median price at 260,000 is up $5,000 from Aug.

Median price is down $5,000 compared to Sep 2010.

Sales at 429 are up 17% compared to Sep 2010  

Sep 28, 2011
Housing sales and prices should remain fairly steady into next year, as a slowing economy is balanced by low mortgage rates and relatively low unemployment, a report to be issued Friday by BMO Capital Markets suggests. Read more: Positives balance negatives; housing market should remain stable in 2012 

Sep 20, 2011
According to the CMHC August had the highest number of monthly apartment starts since May 2008 with 451 units breaking ground. Read more: Another Calgary condo boom coming?

Sep 20, 2011
A new question has been posted. Take my online poll

Sep 16, 2011
The blog is back in business New post.. 

Sep 1, 2011
"We are seeing a lift in sales at boths ends of the market...” Read more Calgary MLS sales rise in August

Sep 1, 2011
Alberta topped all jurisdictions in North America for labour market performance over the last five years. Read more Alberta labour market top performer  

Aug 2011 stats summary:

Single Family Homes

Median price at $402,250 is down $6,750, or 1.7% from Jul. It's up 1.8% from Aug 2010 when it was $395,000.

Year-to-date median price is $410,000, down $2,500 from 2010.

Average price at $453,969 is down $1,880 or .4% compared to Jul. It's  up $8,352 or 1.9% from Aug 2010 when it was $445,617.

Sales price per sq ft at $290 is down $1 compared to Jul. It’s the same as Aug 2010.

Sales were up 28% compared to Aug 2010.

Sales are exactly the same compared to the average for the past 3 years.

Year-to-date sales are up 10%.

Inventory on Aug 31 was 4573, which is 9% lower than last year.

New listings at 2112 were up 8% compared to last year.

New listings are up 3% compared to the average for the past 3 years.

The absorption rate of 4.1 means that we have a 4.1 month, or 123 days, supply of homes on the market. Last year, there was a 5.8 month supply. For homes under $500,000, there is a 3.5 month supply.

Days on Market(DOM)increased to 49 in Aug from 48 in Jul. Last year, it was 50.

32 homes sold for $1 million or more. Last year, there were 25.

Price reductions are down 23% compared to last year. We've averaged 62 price reductions per day over the past week. Last year was 81. Last month was 63.

17% of the homes listed in Aug already have a sale or a conditional sale. Last month was 17%. Last year, it was 14%.

Condos

Median price  at 255,000 is down $14,000 from Jul.

Median price is down $5,000 compared to Aug 2010.

Sales at 468 are up 29% compared to Aug 2010 

Mid-Year Predictions Update

Aug 30, 2011
Calgary is the fifth most liveable city in the world, according to the latest annual ranking compiled by the Economist Intelligence Unit. Calgary ranked 96.6 out of a maximum 100. Vanouver was third, and Toronto fourth. Read more calgary-worlds-5th-most-liveable-city. . Read.

Aug 29, 2011

What were they saying last year? A notorious doomer said in Aug 2010:

"Buyers won’t pony up when prices are eroding, jobs are elusive and the future uncertain. "

"Owning real estate may be the highway to hell. Has anyone told Calgary?"

"HouseAggeddon may await us"

"Ow " Read the stats below for an update. " Read Read the stats below for an update on his accuracy:

• SFH year-to-date sales are 10% higher than in 2010.
   
• SFH 30-day sales are up 24% compared to last year
   
• Median price is up $5,000 compared to last year.
   
• SFH pendings are 17% higher than last year. The median list price of pendings is $15,000 higher. Condo pendings are up 59% compared to last year, and the price is up $10,000.

Aug 20, 2011
The 30-day median price has dropped to $400,000. That's still $5,000 higher than Aug 2010.

Aug 20, 2011
SFH pending sales are 27% higher than last year at this time.

Aug 20, 2011
For the period Aug 1-19, sales are up 5% compared to the 3-year average. Compared to last year, sales are up 33%.  Compared to last year, sales are upC

Aug 19, 2011

No interest rate increases and no recession

BMO Capital Markets senior economist Michael Gregory on interest rates: "the current pause could last a long, long time."

Mark Carney, in the sames story “We're not against borrowing,” he said. “But there needs to be an element of prudence in peoples' personal affairs....while the economy currently needs interest rates to remain low, consumers should not get in over their heads with debt loads they may not be able to afford"  Carney sees no recession. 

Aug 15, 2011
For the period Aug 1-14, sales are up 1% compared to the 3-year average. New listings are up 3%.

Aug 10, 2011

How is all this market turmoil affecting real estate in Calgary? Nothing much yet.

The best indicator to look at is the pending sales. With 314 SFH pendings, that's down from 322 on Aug 1, but it's up 24% over last year. The list price of pendings is at $399,900, so be prepared for a small drop in the sales price over the coming week.

Condo pendings are up compared to the begining of the month, 151 vs 131, and are up 52% compared to last year. The median list price is at $272,400. Shouldn't be much change in the condo sales price over the coming week.

Those who were forecasting no interest rate increase are looking more and more like they'll be correct.

The 30-day median price, at $410,000 is up 3.8% compared to Aug 2010. That's better than the stock market.

Jul 12, 2011
Compared to the average of the past 3 years, sales are down 11% in July. New listings are down 19%.

Jul 12, 2011
The estimated construction value of building permit applications for the month of June 2011, $420 million, is up 21 per cent compared to June 2010 . Read more Up 21%, previously stalled project restarted.

Jul 8, 2011
For the first 7 days of July, SFH sales are up 31% compared to last year. New listings are up 9%.

Jul 5, 2011
For the first six months of this year, SFH inventory increased 75%. Last year, it was 192%. Where's that glut of listings which so many were calling for?

Jul 5, 2011
Just received this notice from a mortgage broker:

Jul 5, 2011
Expect sales to continue to be much higher than last year. Pendings are up 35% compared to last year on this date.

Jul 4, 2011
From the Calgary Herald Calgary MLS sales soar in June.

Jul 4, 2011
Last year, the median price of SFH dropped $31,000(7.4%) between June and October. What will happen this year? Take my online poll

Jul 4, 2011
The median price in June was down 4.9% from its all-time high of $439,000 in June 2007. It's up 68% since Jun 2005.

Jul 4, 2011
SFH inventory is down 33% from the peak in May 2008 when it reached its all-time high of 7,099. Inventory is 21% lower than last year.

Jul 4, 2011
Historical statistics show that when inventory drops below 3500 in Dec, prices rise the following spring. This past year, inventory was 2712 in Dec, and the median price rose $34,000(+8.7%) in the spring. If the present trends continue, we will once again see inventory well below 3500 in Dec.

Jul 3, 2011
Good debt is anything that builds your asset base or gives you the opportunity to build your asset base. Common good debt includes mortgages, investment loans, and student loans, because they have the potential to earn more money, and even a car loan if it is going to lead to a better job. Read more: Canadians owe it to themselves to understand good debt vs bad debt  

June 2011 stats summary:

Single Family Homes

Median price at $417,250 is down $5,750 or 1.4% from May. It's down .2% from Jun 2010 when it was $418,900.

Year-to-date median price at $410,000 is down 1.4% from 2010.

Average price at $479,580 is down $9,902 or 2% compared to May. It's down $2,384 or .5% from Jun 2010 when it was $481,964.

Year-to-date average price at $472,330 is up 1% from 2010.

Sales price per sq ft at $301 is down $4 compared to May. It’s down $7, or 2.3%, from Jun 2010 when it was $308.

Sales are up 32% compared to Jun 2010. Sales are down 11% compared to the historic average for Jun.

Inventory on Jun 30 was 4744, which is 21% lower than last year. It's 7% lower than we normally see at this time of year(compared to 2007-2010, the only years for which I have accurate data).

New listings at 2424 are down 11% compared to last year. New listings are down 1% compared to the historic average for Jun.

The absorption rate of 3.4 means that we have a 3.4 month, or 102 days, supply of homes on the market. Last year, there was a 5.7 month supply. For homes under $500,000, there is a 3 month supply.

Price reductions are down 25% compared to last year. We’ve averaged 77 price reductions per day over the past week. Last year was 102. Last month was 76. That includes SFH and condos.

20% of the homes listed in Jun already have a sale or conditional sale. Last month was 22%. Last year was 13%.

Days on Market(DOM) increased to 42 in Jun from 41 in May. Last year, it was 39.

50 homes sold for $1 million or more. Last year there were 38.

Condos

Median price of condos at $265,000 is down 1.8% from 2010. It's down 1.3% from May.

Sales at 581 are up 31% compared to Jun 2010.  

More stats to obsess over

Jul 1, 2011
I'm thrilled to say I live in the best country on earth. Happy Canada Day, everyone!




Jun 19, 2011
Over the past 30 days, SFH sales are up 18% compared to last year. New listings are down 14%.

Jun 18, 2011
Looking for a realtor with comprehensive market knowledge to help you with all the details of buying a house? Give me a call 403-650-2514.

Jun 18, 2011
Have we reached peak inventory for this year? Take my online poll

Jun 14, 2011
TD Economics no longer ex­pects the Bank of Canada to raise interest rates this year. The tightening of monetary policy is expected to begin in January 2012, and the overnight rate is only expected to increase to 2.00% next year. Read more No rate hikes in 2011: TD

Jun 9, 2011
The wheels of economic growth are in motion in Alberta as the province reclaims its position as one of Canada’s fastest growing economies, says the latest Economic Outlook report released today by RBC Economics. Read more: Alberta economy gaining steam

Jun 7, 2011
Over the past 30 days, SFH sales are up 11% compared to last year. New listings are down 10%.

Jun 4, 2011
Is Calgary's boom back? Take my online poll

Jun 4, 2011
Over the past 30 days, SFH sales are up 8% compared to last year. New listings are down 13%.

Jun 2, 2011
Development permits were approved for 41 new single-family homes in the inner city in May. Last year, 46 were approved.

May 2011 stats summary:

Single Family Homes

Median price at $423,000 is up $3,000 or .7% from Apr. It's up .7% from May 2010 when it was $420,000.

Year-to-date median price is down $7,000(1.7%).

Average price at $489,482 is up $9,827 or 2.1% compared to Apr. It's up $6,162 or 1.3% from May 2010 when it was $483,240.

Year-to-date average price is up $5,558(1.2%).

Sales price per sq ft at $305 is up $7 compared to Apr. It’s down $2, or 1%, from May 2010 when it was $307.

Sales are up 5% compared to May 2010. Sales are down 20% compared to the historic average for May.

Inventory on May 31 was 4616, which is 18% lower than last year. It's 9% lower than we normally see at this time of year(compared to 2007-2010, the only years for which I have accurate data).

New listings at 2552 are down 14% compared to last year. New listings are down 5% compared to the historic average for May.

The absorption rate of 3.5 means that we have a 3.5 month, or 105 days, supply of homes on the market. Last year, there was a 4.5 month supply. For homes under $500,000, there is a 3.2 month supply.

Price reductions are down 41% compared to last year. We’ve averaged 76 price reductions per day over the past week. Last year was 129. Last month was 68. That includes SFH and condos.

22% of the homes listed in May already have a sale or conditional sale. Last month was 21%. Last year was 16%.

Days on Market(DOM) was the same as last month at 41. Last year, it was 38.

52 homes sold for $1 million or more. Last year there were 55.

Condos

Median price of condos at $268,500 is down $11,400 from 2010. It's up $8,500 or 3.3% from Apr.

Sales at 503 are down 3% compared to May 2010. 

*****************************************************************************************

More stats to obsess over

May 31, 2011
The sellers didn't materialize as expected this spring. SFH inventory has increased 73% since Jan 1. Last year, it increased 175%.

May 31, 2011
No interest rate increase. Carney holds rates steady for now.The next Bank of Canada meeting is July 19, 2011. A couple of economists suggest a quarter point increase in July while others predict the BOC will hold off until September. 

May 31, 2011
The bubble bloggers are on a five-year losing streak. See the new post on My blog.

May 28, 2011
Over the past 4 days, homes have sold for list price or higher in Oakridge, Mt Royal, Canyon Meadows, Discovery Ridge, Marlborough Park, South Calgary, Pump Hill, Silver Springs, West Hillhurst(2), Cougar Ridge, Chaparral, Dalhousie, Bridgeland, Silverado(2), Arbour Lake, Temple, and Cedarbrae.

May 25, 2011
The Teranet house price index for March shows Calgary year-over-year prices down 3.3%. CREB stats show the median price was down 5.4%. Teranet 

May 24, 2011
Pending sales are 24% higher than last year on this date. May will show an increase in sales over last year of 9%.

May 20, 2011
An article with erroneous information about Calgary housing data was written in Canadian Business magazine yesterday. See My blog.

May 20, 2011
For the period May 1-19, SFH sales have surpassed last year, 842 compared to 833. New listings are down 15%, 1696 compared to 1995.

May 15, 2011
Over the past week, 10% of SFH sales were for list price or higher.

May 12, 2011
Compared to the averages for the past 3 years, sales are down 3% in May. New listings are down 15%.

May 11, 2011
On average, Canadian homeowners have $222,000 in home equity, equal to 66% of the value of their home. Read more Canadian mortgage data.. 

May 11, 2011
The 30-day SFH average price at $492, 146 is the highest we've seen since July 2007 when it reached it's peak at $505,920.

May 7, 2011
For the past 30 days, sales are down 9% compared to last year. New listings are down 25%.

May 7, 2011
Seven homes sold for over $1 million dollars yesterday.

May 7, 2011
Homes sold yesterday for list price or higher in Silver Springs, Beddington, Harvest Hills, Renfrew, Cougar Ridge, and North Glenmore.

May 6, 2011
Development permits were approved for 50 new single-family homes in the inner city in April. Last year, 40 were approved.

Apr 2011 stats summary:

Single Family Homes

Median price at $420,000 is up $20,000, or 5% from Mar. It's up .7% from Apr 2010 when it was $417,000.

Year-to-date median price is down $15,000(3.6%).

Average price at $479,575 is up $16,628 or 3.6% compared to Mar. It's up $19,197 or 4.2% from Apr 2010 when it was $460,378.

Year-to-date average price is up $5,073(1.1%).

Sales price per sq ft at $298 is up $4 compared to Mar. It’s down $3, or 1%, from Apr 2010 when it was $301.

Sales are down 10% compared to Apr 2010. Sales are down 25% compared to the historic average for Apr.

Inventory on Apr 30 was 4395, which is 12% lower than last year. It's 3% lower than we normally see at this time of year(compared to 2007-2010, the only years for which I have accurate data).

New listings at 2299 are down 25% compared to last year. New listings are down 9% compared to the historic average for Apr.

The absorption rate of 3.6 means that we have a 3.6 month, or 108 days, supply of homes on the market. Last year, there was a 3.7 month supply. For homes under $500,000, there is a 3.2 month supply.

Price reductions are down 35% compared to last year. We’ve averaged 68 price reductions per day over the past week. Last year was 104. Last month was 53. That includes SFH and condos.

21% of the homes listed in Apr already have a sale or conditional sale. Last month was 29%. Last year was 19%.

Days on Market(DOM) increased to 41 in Apr from 39 in Mar. Last year, it was 36.

36 homes sold for $1 million or more. Last year there were 29.

10% of homes sold for list price or higher. Last month was 7%.

Condos

Median price of condos at $260,000 is up $4,000 from Mar. It's down $7,500 or 2.8% from Apr 2010.

Sales at 535 are down 16% compared to Apr 2010.

*******************************************************************************************************

Stats to Obsess Over

April 28, 2011
Economists from Scotia Capital are now suggesting that interest rates won't rise anytime soon. Higher loonie suggest rates won't change

April 27, 2011
The Teranet house price index shows prices in Calgary declining 3.5% Feb over Feb. The CREB statistics show the median price declined 2.8%.

April 26, 2011
The 30-day SFH median price is at $425,000 today. That's $8,000 higher than last year. Sales price per sq ft is down slightly compared to last year. That means people are buying larger houses this year.

April 26, 2011
After declining since March 18, SFH sales will be increasing over the coming week. Pendings are 16% higher today than last year.

April 20, 2011
We've averaged 64 price reductions per day over the past week. That's down considerably compared to last year when it was 104. During the last week in March, the average was 53.

April 20, 2011
For the period April 1-20, sales are down 10% compared to last year. New listings are down 21%.

April 14, 2011
SFH inventory has grown 58% since Jan 1. Last year, it increased by 116%.

April 11, 2011
Over the past 30 days, new listings are down 23% compared to last year. Sales are down 13%. You can see more Calgary Market Trends.

April 8, 2011
Being rich in resources gives a nation an incredible economic advantage in today's world...A good example of this is our neighbor to the north, Canada. Read more Outperforming economy, strong resources.

April 8, 2011
Is Garth Turner ready to throw in the towel? Read my new Blog post, then vote in the Online poll: When will Garth end it?

Mar 2011 stats summary:

Single Family Homes

Median price at $400,000 is the same as Feb. It's down 5.4% from Mar 2010 when it was $423,000.

Average price at $462,947 is up $1,161 or .3% compared to Feb. It's down $8,322 or 1.8% from Mar 2010 when it was $471,269.

Sales price per sq ft at $294 is up $2 compared to Feb. It’s down $14, or 4.6%, from Mar 2010 when it was $308.

Sales are down 3% compared to Mar 2010. Sales are down 15% compared to the historic average for Mar.

Inventory on Mar 31 was 4024, which is .3% higher than last year. It's 3% lower than we normally see at this time of year(compared to 2007-2010, the only years for which I have accurate data).

New listings at 2434 are down 19% compared to last year. New listings are down 4% compared to the historic average for Mar.

The absorption rate of 3.0 means that we have a 3.0 month, or 90 days, supply of homes on the market. Last year, there was a 2.9 month supply. For homes under $500,000, there is a 2.7 month supply.

Price reductions are down 35% compared to last year. We’ve averaged 53 price reductions per day over the past week. Last year was 81. Last month was 49. That includes SFH and condos.

29% of the homes listed in Mar already have a sale or conditional sale. Last month was 24%. Last year was 26%.

Days on Market(DOM) decreased to 39 in Mar from 45 in Feb. Last year, it was 33.

43 homes sold for $1 million or more. Last year there were 33.

7% of homes sold for list price or higher. Last month was 10%.

Condos

Median price of condos at $256,000 is down 4.1% from Feb. It's down 19,000 or 6.9% from Mar 2010.

Sales at 581 are down 4.9% compared to Mar 2010.
*********************************************************************

Stats to Obsess Over

Mar 29
Calgary is rated as the third richest city in the world. Read more in the Herald Calgary among richest cities in the world.

Mar 28
After being substantially higher than last year for 11 consecutive months, inventory at the end of March will barely be above last year's level. Inventory is up 50% compared to Dec. Last year it was up 95%.

Mar 24, 2011
For the period Mar 1-23, SFH sales are up 6% compared to last year. new listings are down 18%.

Mar 24, 2011
Over the past 3 days, homes have sold for list price or higher in Springbank Hill, Hawkwood, Edgemont, Lake Bonavista, New Brighton, Tuscany, Haysboro, Copperfield, Taradale, Forest Lawn(2), Martindale, Ogden, and Penbrooke.

Mar 18, 2011
Beginning today, all new CMHC-insured mortgages will have a maximum amortization of 30 years. Previously it was 35 years. Some believe this will be the start of the real estate crash because it will remove so many buyers from the market.

Mar 12, 2011
For the period Mar 1-11, sales are up 22% compared to last year. New listings are down 12%.

Mar 8
Development permits were issued for 25 new single-family homes in the inner city in Feb.

Mar 8, 2011
For the period Mar 1-7, sales are up 18% compared to last year. New listings are down 7%.

Mar 1, 2011
Why did prices and sales go up in Feb? Take my online poll

Feb 2011 stats summary:

Single Family Homes

Median price at $400,000 is up $10,000 or 2.6% from Jan. It's down 2.7% from Feb 2010 when it was $411,000.

Average price at $461,786 is up $7,623 or 1.7%% compared to Jan. It's up $3,532 or .8% from Feb 2010 when it was $458,254.

Sales price per sq ft at $292 is up $8 compared to Jan. It’s down $12, or 4%, from Feb 2010 when it was $304.

Sales are up 13% compared to Feb 2010. Sales are down 12% compared to the historic average for Feb.

Inventory on Feb 28 was 3504, which is 13% higher than last year. It's 3.2% lower than we normally see at this time of year(compared to 2007-2010, the only years for which I have accurate data).

New listings at 2268 were up 5.3% compared to last year. New listings are up 12% compared to the historic average for Feb.

The absorption rate of 3.0 means that we have a 3.0 month, or 90 days, supply of homes on the market. Last year, there was also a 3.0 month supply. For homes under $500,000, there is a 2.4 month supply.

Price reductions are up 9% compared to last year. We’ve averaged 49 price reductions per day over the past week. Last year was 45. Last month was 39. That includes SFH and condos.

24% of the homes listed in Feb already have a sale or conditional sale. Last month was 21%. Last year was 34%.

Days on Market(DOM) decreased to 45 in Feb from 56 in Jan. Last year, it was 35.

35 homes sold for $1 million or more. Last year was 20.

Condos

Median price of condos at $267,000 is up $12,000 from Jan.

Median price of condos is up $1,100 or .4% from Feb 2010.

Sales at 468 are down 13% compared to Feb 2010.
***********************************************************

Stats to Obsess Over

Sales & new listings compared to the historic average for single family homes
	Sales (A)	New listings (B)	CC Index A-B
2011
Feb	-12	+12%	-24
Jan	-24%	-4%	-20
2010
Dec	-17%	-18%	+1
Nov	-23%	-14%	-9
Oct	-27%	-14%	-13
Sep	-24%	+2%	-26
Aug	-36%	-8%	-28
Jul	-37%	-12%	-25
Jun	-35%	+13%	-48
May	-25%	+12%	-37
Apr	-19%	+25%	-44
Mar	-14%	+20%	-34
Feb	-24%	+3%	-27
Jan	-29%	-15%	-14
CC Index: The lower the number, the more likely we’re heading for lower prices. For more information about the Crash/Confidence Index see Crash/Confidence Index Explained

Feb 28, 2011
Are you following the latest trends in Calgary's housing market? See at a glance where the market is heading at Calgary Market Trends which has just been updated.

Feb 24, 2011
Once the poster child for an overheated market, Alberta is now the most affordable province in the country according to a new report from RBC Economics Research. Read more in the Financial Post: Alberta now home to cheap housing

Feb 22, 2011
Over the past three years, SFH average inventory at the end of Feb was 4148. My esimate for this year is 3700.

Feb 22, 2011
Calgary has been named the world's fifth most livable city. Criteria in the selection included stability, health care, culture and environment, education and infrastructure. Read more
 Vancouver, Toronto, and Calgary named among world's most livable cities

Feb 21, 2011
The SFH Sales/List ratio at 50% is now higher than last year.

Feb 21, 2011
Sales of SFH in Feb are up 14% compared to last year. The median price is down 2.9%.

Feb 21, 2011
Over the past week, SFH have sold for list price or higher in the communities of Bridlewood(2), McKenzie Towne(2), Lake Bonavista, Bowness, Garrison Green, Wildwood, Tuscany, Scenic Acres, Applewood, Beddingtron, Queensland, Taradale, Martindale, Cranston, Country Hills, Coventry Hills, Chaparral, Southwood, Royal Oak, South Calgary, Altadore, Edgemont, Springbank Hill.

Feb 18, 2011
Is it getting close to being a seller's market? Or is it still a buyer's market? Check this page Absorption Rate by Price Range.

Feb 18, 2011
SFH sales for Feb 1-17 are up 18% compared to last year. New listings are up 15%.

Feb 15, 2011
Don't look now, but....This market is hot!

Feb 14, 2011
Updates have resumed to the Calgary Market Trends page. You can see at a glance which way the market is heading.

Feb 13, 2011
Development permits were issued in January for 33 new single family homes in the inner city.

Feb 11, 2011
Over the past 30 days, the absorption rate for SFH priced under $400,000 is 2.3, which means there is a 69-day supply of homes on the market. A 57-day supply is considered a seller's market.

Feb 10, 2011
Over the past 30 days, SFH sales are up 11% compared to last year.

Jan 2011 stats summary:

Single Family Homes

Median price at $390,000 is up $1,000 or .3% from Dec. It's down 2% from Jan 2010 when it was $398,000.

Average price at $454,163 is up $12,822 or 2.9%% compared to Dec. It's up $12,946 or 2.9% from Jan 2010 when it was $441,217.

Sales price per sq ft at $284 is up $3 compared to Dec. It’s down $15, or 5%, from Jan 2010 when it was $299.

Sales are up 3.8% compared to Jan 2010.

Sales of SFH are down 24% compared to the historic average for Jan.

Inventory on Jan 31 was 2958, which is 18% higher than last year. It's 4.9% lower than we normally see at this time of year(compared to 2007-2010, the only years for which I have accurate data).

New listings at 1965 were up 7.9% compared to last year.

New listings are down 4% compared to the historic average for Jan.

The absorption rate of 3.7 means that we have a 3.7 month, or 111 days, supply of homes on the market. Last year, there was a 3.3 month supply. For homes under $500,000, there is a 3.1 month supply.

Price reductions are up 22% compared to last year. We’ve averaged 39 price reductions per day over the past week. Last year was 32. Last month was 11. That includes SFH and condos.

21% of the homes listed in Jan already have a sale or conditional sale. Last month was 21%. Last year was 31%.

Days on Market(DOM) decreased to 56 in Jan from 59 in Dec. Last year, it was 43.

25 homes sold for $1 million or more. Last year was 12.

Condos

Median price of condos at $255,000 is down $3,500 from Dec.

Median price of condos is down $10,000 or 3.8% from Jan 2010.

Sales at 302 are down 20% compared to Jan 2010.

Stats to Obsess Over

Sales & new listings compared to the historic average for single family homes
	Sales (A)	New listings (B)	CC Index A-B
2011
Jan	-24%	-4%	-20
2010
Dec	-17%	-18%	+1
Nov	-23%	-14%	-9
Oct	-27%	-14%	-13
Sep	-24%	+2%	-26
Aug	-36%	-8%	-28
Jul	-37%	-12%	-25
Jun	-35%	+13%	-48
May	-25%	+12%	-37
Apr	-19%	+25%	-44
Mar	-14%	+20%	-34
Feb	-24%	+3%	-27
Jan	-29%	-15%	-14
CC Index: The lower the number, the more likely we’re heading for lower prices. For more information about the Crash/Confidence Index see Crash/Confidence Index Explained

Jan 30, 2011
I've revisd the estimated sales for Jan upwards, to 785. To see what else happened in January, check My Blog.

Jan 21, 2011
We're on schedule to end January with about 750 SFH sales which is about the same as last year, but down approx 25% compared to the historical average. The median price will be down 1-2% compared to Jan 2009.

Jan 20, 2011
Development permits were issued this week for 12 new homes in the inner city.

Jan 19, 2011
Will the change in maximum amortizations from 35 to 30 years affect prices? Take my online poll

Jan 18, 2011
CREB predicts SFH average price will increase 4.1% in 2011, and sales will increase by 19.9%. Read more in the Herald Slow recovery forecast for Calgary real estate. CREB has made fairly accurate price predictions over the past two years. 2010 2009 

Jan 18, 2011
Jan SFH sales are up 2% compared to last year, while new listings are up 8%. The average price is up $2000, and the median price is down by $6,000.

Jan 17, 2011
The government has reduced the maximum amortization from 35 to 30 years on CMHC-insured mortgages. Read more in the Herald Tougher mortgage lending rules.

Jan 13, 2011
So far this year, development permits were issued for 11 new homes in the inner city.

Jan 11, 2011
After 10 days of voting, 77% of respondents to my Online Poll believe there will be very little change to house prices in 2011. 15% believe there will be a large drop.

Jan 10, 2011
Could the hate-filled rantings of the bubble bloggers lead to violence? Read my new blog post "Squidly Loughner."

Jan 10, 2011
For the first nine days of the year, sales are down 25% compared to the long-term average. New listings are also down 25% for the same perod. That results in a CC Index of 0.

Jan 6, 2011
The Crash/Confidence Index predicts a median price in Jan of $382,500.

Jan 6, 2011
If the pending sales are any indication, the median price of SFH should drop over the next week. The median list price of pending sales is at $394,900 today. @96%, the final sale price would be $379,104.

Jan 1, 2011

Happy new year everyone!

On the first day of Jan last year, I posted an online poll asking readers to predict the price change in 2010. 36% predicted a slight increase, and 21% predicted a slight drop. Both were correct, depending on whether you look at the 30-day price or the year-to-date price. A more precisely worded poll has just been posted for 2011: Poll: price change

Jan 1, 2011
Going into the new year, the number of pending sales is approximately the same as last year, however the average list price is up($486,000 compared to $469,000).

Stats to Obsess Over

2010 compared to the historic average(9 yrs) for single family homes
	Sales (A)	New listings (B)	CC Index A-B
Dec	-17%	-18%	+1
Nov	-23%	-14%	-9
Oct	-27%	-14%	-13
Sep	-24%	+2%	-26
Aug	-36%	-8%	-28
Jul	-37%	-12%	-25
Jun	-35%	+13%	-48
May	-25%	+12%	-37
Apr	-19%	+25%	-44
Mar	-14%	+20%	-34
Feb	-24%	+3%	-27
Jan	-29%	-15%	-14
CC Index: The lower the number, the more likely we’re heading for lower prices. For more information about the Crash/Confidence Index see Crash/Confidence Index Explained

Dec 2010 stats summary:

The median price of single family homes(SFH) at $389,000 is down $10,900 or 2.7% from Nov. It's down 3% from Dec 2009 when it was $401,000.

The year-to-date median price at $406,000 is up $14,000, or 3.6% over 2009.

The SFH average price at $441,341 is down $14,119 or 3.1%% compared to Nov. It's down $10,008 or 2.2% from Dec 2009 when it was $451,349.

The year-to-date average price at $461,144 is up $18,817 or 4.3% over 2009.

SFH sales price per sq ft at $281 is down $12 compared to Nov. It’s down $21, or 6.9%, from Dec 2009 when it was $302.

Sales of single family homes were down 8% compared to Dec 2009

Sales of SFH are down 17% compared to the historic average for Dec.

SFH Inventory on Dec 31 was 2712, which is 32% higher than last year. It's 1% lower than we normally see at this time of year(compared to 2006-2009)

New listings at 744 were down 8% compared to last year.

The absorption rate of 3.7 means that we have a 3.7 month, or 111 days, supply of homes on the market. Last year, there was a 2.6 month supply. For homes under $500,000, there is a 3.0 month supply.

Price reductions are up 83% compared to last year. We’ve averaged 11 price reductions per day over the past week. Last year was 6. Last month was 41.

21% of the homes listed in Dec already have a sale or conditional sale. Last month was 16%. Last year was 26%.

Days on Market(DOM) increased to 59 in Dec from 52 in Nov. Last year, it was 47.

20 homes sold for $1 million or more. Last year was also 20.

The median price of condos at $258,500 is up $5,200 from Nov.

The median price of condos is down $6,500, or 2.5% from Dec 2009.

Condo sales at 320 are down 6% compared to Dec 2009.

Dec 31, 2010
Who made the most accurate price predictions for 2010? See the surprising results on my blog.

Dec 29, 2010
SFH pending sales are at 166 today. Last year on this date there were 162. The average list price this year is $502,490. Last year it was $470,830.

Dec 28, 2010
For the period Dec 1-27, SFH sales are down 6% compared to last year. New listings are down 8%.

Dec 28, 2010
SFH inventory will fall below 3000 listings by Jan 1.

Dec 27, 2010
For the period Dec 1-26, the SFH Sales-to-New Listings ratio is at 99%. Last year on Dec 31 the SNL ratio was 99%.

Dec 27
The SFH 30-day median price at $388,000 is down $13,000 or 3.2% compared to Dec 2009. The Year-to-date median price at $390,000 is down $2,000 or .5% compared to Dec 2009.

Dec 21, 2010
For the period Dec 1-20, SFH sales are down 7% and new listings are down 12% compared to last year.

Dec 16, 2010
SFH inventory has dropped below 3500 listings. 25% of the respondents to my online poll predicted it would not drop this low. 44% believe it will lead to higher prices.

Dec 14, 2010
For the period Dec 1-13, SFH sales are down 1% compared to last year, and new listings are down 11%.

Dec 14, 2010
The 30-day median price is 2.2% lower than on Dec 31, 2009.

Dec 12, 2010
For the period Dec 1-11, SFH sales are down 5% compared to last year, and new listings are down 12%. 

Dec 12, 2010
The CC Index prediction for December is a median price of $382,600. Read more Crash/Confidence Index Explained

Dec 12, 2010
For the first time this year, the CC Index is in positive territory.

Dec 7, 2010
In my online poll of Oct 23, 2010, 25% of respondents said inventory WOULDN'T drop below 3500 this year. It now appears there will be fewer than 3000 homes for sale by the end of this month. 44% of respondents said prices WILL INCREASE in the spring if listings drop below 3500.

Dec 2, 2010
Where will prices be on Dec 31? A new question has been posted Take my online poll

Stats to Obsess Over

2010 compared to the historic average(9 yrs) for single family homes
	Sales (A)	New listings (B)	CC Index A-B
Nov	-23%	-14%	-9
Oct	-27%	-14%	-13
Sep	-24%	+2%	-26
Aug	-36%	-8%	-28
Jul	-37%	-12%	-25
Jun	-35%	+13%	-48
May	-25%	+12%	-37
Apr	-19%	+25%	-44
Mar	-14%	+20%	-34
Feb	-24%	+3%	-27
Jan	-29%	-15%	-14
CC Index: The lower the number, the more likely we’re heading for lower prices. For more information about the Crash/Confidence Index see Crash/Confidence Index Explained

Nov 2010 stats summary:

Nov 29, 2010
RBC report concludes that home ownership in Alberta is among the most affordable in Canada. Read more Housing trends and affordability.

Nov 29, 2010
The median price in Nov will be up substantially from Oct. Only 37% of of respondents to my Poll predicted the large increase.

Nov 24, 2010
The Teranet-National Bank House Price Index for Sep shows prices in Calgary are up year-over-year by 1.7%. CREB stats show the median price is down 2.5% and the average price up by .26%.

Nov 21, 2010
The 30-day median price has risen $12,100 this month. The average price is up $18,200.

Nov 21, 2010
SFH inventory is heading for dangerously low levels. It appears that it will drop below 3500 in Dec.

Nov 18, 2010
My Bowness listing sold after being on the market for 16 days. If you want your home to sell, price it realistically because there are buyers out there, and if you are a buyer, don't be lulled into waiting if you see your dream home. Upon going pending, the Bowness listing had a number of calls from realtors whose clients wanted to make an offer if the deal fell through. They didn't act fast enough, thinking they had plenty of time. The average days on market is 52, but that's deceiving. A properly priced listing goes fast.

Nov 13
The 30-day SFH median price has increased by $15,000(3.9%) over the past month.

Nov 12
Development permits were approved this week for 12 brand new homes in the inner city.

Nov 10, 2010
108 new listings have hit the market in the past two days, of which 34% were re-lists.

Nov 9, 2010
Montreal and Calgary were the largest contributors to the increase in the New Housing Price Index between August andSeptember. Read more New home prices increase

Nov 9, 2010
So far this month, homes have sold for list price or higher in Altadore, Aspen Woods, Mount Pleasant, Signal Hill, Edgemont, Cougar Ridge, Riverbend, Silverado, Brentwood, South Calgary, Skyview Ranch(2), Southview, Albert Park, Falconridge, Kincora and West Springs.

Nov 8, 2010
There's been a remarkable improvement is sales over the past week. The CC Index is only 2 notches away from positive territory.

Nov 7
The 30-day SFH median price in Calgary has risen $18,500 since Oct 7. That's 4.9%.

Nov 6, 2010
A new question has been posted Poll: Nov price - What will it be?

Nov 6, 2010
Bernadette tried selling her home by herself using a flat-fee MLS listing. CBC asked her how it went. Read more on My Blog.

Nov 6, 2010
Prices are up across the board in Nov. The 30-day median is at $399,000(Oct was $387,900), average is at $452,475($444,744), and the price per sq ft is at $290($288).

Nov 6, 2010
The CC Index has taken a precipitous drop over the past week and is at -2. Must be the nice weather.

Nov 5
40% of the homes listed yesterday were re-lists.

Nov 5
The SFH absorption rate has dropped below 5 for the first time since May. There's a 4.9-month supply of homes on the market today. For homes priced below $500,000, there is a 4.2-month supply.

Nov 4, 2010
The SFH 30-day median price has risen $10,600 in Nov to $398,500.

Nov 3, 2010
384 condos sold in the past four days, none of which will show up in the MLS sales statistics. Buyers line up for Calgary condo project.

Nov 2, 2010
If the year were to end on Oct 31, CREB would be declared the winner in the predictions game. CREB's forecast was for a 6% increase(year-to-date) over 2009. To Oct 31, the year-to-date SFH price has increased 5.3%. The YTD average price is $462,997 compared to last year's $439,807.

Nov 2, 2010
That notorious real estate pumper, the Calgary Herald, is back at it Calgary Oct MLS sales tumble.

Nov 1, 2010
The CC Index prediction for November is a median price of $387,800. Read more Crash/Confidence Index Explained

Oct 2010 stats summary:

SFH Median price down .5% from Sep

Average price down 3.4%

Price per sq ft up 1.1%

The median price of single family homes(SFH) at $387,900 is down $2,100 or .5% from Sep. It's down 5.4% from Oct 2009 when it was $410,000.

The SFH average price at $444,744 is down $15,534 or 3.4%% compared to Sep. It's down $17,721 or 3.8% from Oct 2009 when it was $462,465.

SFH sales price per sq ft at $288 is up $3 compared to Sep. It’s down $11, or 3.7%, from Oct 2009 when it was $299.

Sales of single family homes were down 31% compared to Oct 2009

Sales of SFH are down 27% compared to the historic average for Oct.

SFH Inventory on Oct 31 was 4528, which is 51% higher than last year. It's 3% higher than we normally see at this time of year(compared to 2006-2009)

New listings at 1766 were down 3% compared to last year.

The absorption rate of 5.1 means that we have a 5.1 month, or 153 days, supply of homes on the market. Last year, there was a 2.3 month supply. For homes under $500,000, there is a 4.3 month supply.

Price reductions are up 41% compared to last year. We’ve averaged 62 price reductions per day over the past week. Last year was 44. Last month was 78.

14% of the homes listed in Oct already have a sale or conditional sale. Last month was 12%. Last year was 27%.

Days on Market(DOM) decreased to 50 in Oct from 52 in Sep. Last year, it was 41.

25 homes sold for $1 million or more. Last year was 28.

The median price of condos at $255,000 is down $10,000 from Sep.

The median price of condos is down $8,500 from Oct 2009.

Condo sales at 310 are down 48% compared to Oct 2009.


 

Stats to Obsess Over

2010 compared to the historic average(9 yrs) for single family homes
	Sales (A)	New listings (B)	CC Index A-B
Oct	-27%	-14%	-13
Sep	-24%	+2%	-26
Aug	-36%	-8%	-28
Jul	-37%	-12%	-25
Jun	-35%	+13%	-48
May	-25%	+12%	-37
Apr	-19%	+25%	-44
Mar	-14%	+20%	-34
Feb	-24%	+3%	-27
Jan	-29%	-15%	-14
CC Index: The lower the number, the more likely we’re heading for lower prices For more information about the Crash/Confidence Index see Crash/Confidence Index Explained

Oct 31
Over the past week, single family homes which sold for list price or higher were located in Cranston, Bankview, McKenzie Towne, New Brighton, Bridlewood, Hamptons, Altadore, Lake Bonavista, Canyon Meadows Estates, and The Slopes.

Oct 31
Over the past three days, 16% of the homes sold were on the market for 7 days or less. 116 sales, 19 were sold in the first week.

Oct 30
They're lining up in Brentwood to buy condos today. Cody Torgerson says "There's a line of at least 50 people waiting for the show suite to open. I assume that suites are now for sale ..." Read more University City.

Oct 29
Regarding the CREA/Competition Bureau agreement, I'd like to direct your attention to New MLS rules...not so new after all. This realtor makes a good point as to why it's important to maintain the integrity of the data. Under the agreement, realtors will continue to ensure all information is accurate.

I agree with  Norm Fisher who says: "I believe in free markets and competition. Availability of the broadest possible range of services is good for consumers and for real estate practitioners alike." It will be fun to watch the myriad of services that pop up.

Best of all, people can stop whining about the "real estate cartel." Finally.

Oct 28
"Today the sale went through. Charlene, after looking at so many homes, knew, within 30 seconds of walking in the door that this was THEE one." See the new posting on My Blog "It pays to know First-Aid" 

Oct 28
Sorry to sound like a broken record, but my prediction last week that the SFH median price would rise has come true and is now up to $389,500. It's now going to drop a few notches before the end of the month and should settle in pretty close to where my Crash/Confidence Index predicted. I might have underestimated the sales, though. It looks like we may do better than 860.

Oct 27
The Teranet House Price Index shows that prices in Calgary went up 5% in August, year-over-year. This is in complete disparity with CREB's statistics which show the median price down 1.3%, and the average down 1.9%. Mike Fotiou has a good recap on his blog Calgary Real Estate Review.

Oct 27
How about a half-duplex on an oversized lot on a quiet street in Bowness for $209,900? With 20% down, your payments could be less than $1000 per month. Call me if you want to view this charming home. 403-650-2514

Oct 27
Over the past week, homes sold for list price or higher in the communities of Bankview(2), Somerset, Bridlewood, The Slopes, Sherwood, West Hillhurst, Skyview Ranch, McKenzie Lake, Temple, and Falconridge.

Oct 27
Bank of Canada governor Mark Carney agreed that an abrupt correction in Canada's housing market is possible. Going on past predictions, is that not a sure sign that we are headed for higher prices? Read more Housing correction possible

Oct 25
One of our regular bloggers, Vinny, has started up a new forum where you can discuss real estate and other investing concerns. http://www.tactfulinvesting.com/.

Oct 25
Check out this page Crash/Confidence Index Explained for an update on the CC Index. I've developed a formula which would have predicted the prices of the last four months very accurately.

Oct 25
With 315 pending SFH sales, that's the highest number of pendings we've had since late May. Last year, on Oct 26, there were 345 pending sales.

Oct 25
How long does it take you to drive to work? The ten worst cities for commute times includes Toronto and Montreal. Read more The world's worst cities for commuting.

Oct 24, 2010
Sales of million-dollar homes will be down this month compared to last year. 14 so far in Oct compared to 28 in the entire month last year.

Oct 24, 2010
15% of the 54 sales on Oct 22 were in 7 days or less. Accurately-priced homes are still moving quickly.

Oct 24, 2010
The median price this month is down $3000(less than 1%) from Sep, but the sales price per sq ft has risen.

Oct 23, 2010
Will SFH inventory drop below the critical level of 3500 by Dec? Will prices increase or decrease in 2011? Take my online poll

Oct 22, 2010

With 10 days to go in Oct, it looks like we'll have about 860 SFH sales this month. That would be down 30% compared to the long-term average.

 
Oct 22, 2010
Short term year-over-year price growth expectations for the Calgary housing market are in the five to seven per cent range, according to the Conference Board of Canada. Read more: Calgary housing price increases forecast    

Oct 21, 2010
With the median price of pending sales at $409,900, you can expect to see the median price increase in the coming week. The 30-day SFH median is at $384,500 today(just as it was predicted on Oct 12).

Oct 19, 2010
Garth Turner says consumers are "tapped out with debt," and Calgary hasn't grown in population to support the real estate market and the oilpatch hasn't seen a big revival. Read more in the Herald Home sales at decade-low levels. Garth Turner has made some good predictions...and some really bad ones. Read more Garth Turner predictions

Oct 18, 2010
Some predictions for 2010 have already been proven wrong, and some have come true. Predictions

Oct 18, 2010
The weekly report from the Real Estate Council of Alberta(RECA) shows 55 new realtors being licenced over the past 7 days.

Oct 16, 2010
Inventory is down 19% since May and continues to decline. There are 4863 active listings today. 

Oct 14, 2010
Nine homes have sold in Oct for more than $1 million. Last year, there were 28 sales during the entire month.

Oct 14, 2010
The Oct SFH average price is down compared to Sep. The median price is down. The sales price per sq ft is up. This is an indication that the homes sold this month are significantly smaller than last month.

Oct 13, 2010
How much do you think house prices should change on a yearly basis? Take my online poll.

Oct 13, 2010
The price of a new home in Calgary was down 0.1% between July and August according to the New Housing Price Index (NHPI) released by Statistics Canada today.  Year-over-year, new house prices in Calgary were up 2.4% from the previous August. Read more Statscan New house Price Index

Oct 12, 2010
For the period Oct 1-11, new listings are down 20% compared to the historical average.

Oct 12, 2010
Based on today's pending sales, look for the 30-day median price to stay in the neighbourhood of $380,000 - $385,000 over the coming week. The median price is at $385,000 today. The median price of pending sales is $399,900.

Oct 12, 2010
When you owe someone a trillion dollars, you don't call them "polluter." You call them "boss." NASA lectures Canada but ignores China.

Oct 9, 2010
My stalker is back. You can give your opinion on My Online Poll

Oct 9, 2010
There were 82 new SFH listings yesterday, of which 18(22%) were re-lists.

Oct 9, 2010
Housing starts in September were down slightly from year-ago levels, but year-to-date are up 45%. Read more Home construction dips in Calgary.
 

Sep 2010 stats summary:

The median price of single family homes(SFH) at $390,000 is down $5,000, or 1.3% from Aug. It's down 2.5% from Sep 2009 when it was $399,900.

The SFH average price at $460,278 is up $14,661 or 3.3%% compared to Aug. It's up $1,193 or .3% from Sep 2009 when it was $459,085.

SFH sales price per sq ft at $285 is down $5 compared to Aug. It’s down $18, or 5.9%, from Sep 2009 when it was $303.

Sales of single family homes were down 24% compared to Sep 2009

Sales of SFH are down 24% compared to the historic average for Sep.

SFH Inventory on Sep 30 was 4880, which is 55% higher than last year.

New listings at 2252 were up 21% compared to last year.

The absorption rate of 5.1 means that we have a 5.1 month, or 153 days, supply of homes on the market. Last year, there was a 2.5 month supply. For homes under $500,000, there is a 4.5 month supply.

Price reductions are up 53% compared to last year. We’ve averaged 78 price reductions per day over the past week. Last year was 51. Last month was 81.

12% of the homes listed in Sep already have a sale or conditional sale. Last month was 14%. Last year was 28%.

Days on Market(DOM) increased to 52 in Sep from 50 in Aug. Last year, it was 40.

34 homes sold for $1 million or more. Last year was 35.

6% of SFH sold for list price or higher. Last month was 5%.

The median price of condos at 265,000 is up $5,000 from Aug.

The median price of condos is the same as Sep 2009.

Condo sales at 366 are down 42% compared to Sep 2009.
 

Aug 2010 stats summary:

The median price of single family homes(SFH) at $395,000 is down $5,000, or 1.3% from Jul. It's down 1.3% from Aug 2009 when it was $400,000.

The SFH average price at $445,617 is down $19,038 or 4.1%% compared to Jul. It's down $8,513 or 1.9% from Aug 2009 when it was $454,130.

SFH sales price per sq ft at $290 is down $4 compared to Jul. It’s the same as Aug 2009

Sales of single family homes were down 32% compared to Aug 2009.

Sales of SFH are down 36% compared to the historic average for Aug.

SFH Inventory on Jul 31 was 5046, which is 53% higher than last year.

New listings at 1960 were up 3% compared to last year.

The absorption rate of 5.8 means that we have a 5.8 month, or 174 days, supply of homes on the market. Last year, there was a 2.6 month supply. For homes under $500,000, there is a 5.3 month supply.

Days on Market(DOM) increased to 50 in Aug from 45 in Jul. Last year, it was 42.

25 homes sold for $1 million or more. Last year, there were 28.

Price reductions are up 103% compared to last year. We've averaged 81 price reductions per day over the past week. Last year was 40. Last month was 78.

14% of the homes listed in Aug already have a sale or a conditional sale. Last month was 12%. Last year, it was 27%.

5% of SFH sold for list price or higher. Last month was 4%.

The median price of condos at 260,000 is down $8,000 from Jul.

The median price of condos is the same as Aug 2009.

Condo sales at 364 are down 42% compared to Aug 2009.

Aug 15
New listings are down 8% compared to the historical average for August, but sales are down 33%. If you're thinking of selling in this market, nothing will help as much as an honest evaluation of your property. Contact me for a factual and realistic market analysis.

July 2010 stats summary:

The median price of single family homes(SFH) at $400,000 is down $18,900, or 4.5% from Jun.  It's up 2.6% from Jul 2009 when it was $390,000.

The SFH average price at $464,655 is down $17,309 or 3.6%% compared to Jun. It's up $27,873 or 6.4% from Jul 2009 when it was $436,782.

SFH sales price per sq ft at $294 is down $14 compared to Jun. It’s up $5, or 1.7%, from Jul 2009 when it was $289.

Sales of single family homes were down 42% compared to Jul 2009. 

Sales of SFH are down 37% compared to the historic average for Jul.

SFH Inventory on Jul 31 was 5525, which is 67% higher than last year. 

New listings at 1942 were down 7% compared to last year.

The absorption rate of 6.0 means that we have a 6 month, or 180 days, supply of homes on the market. Last year, there was a 2.1 month supply. For homes under $500,000, there is a 5.5 month supply.

Days on Market(DOM) increased to 45 in Jul from 39 in Jun. Last year, it was 43.

30 homes sold for $1 million or more. Last year, there were 34.

Price reductions are up 111% compared to last year. We've averaged 78 price reductions per day over the past week. Last year was 39. Last month was 102.

12% of the homes listed in Jul already have a sale or a conditional sale. Last month was 13%. Last year, it was 30%.

4% of SFH sold for list price or higher. Last month was 7%.

The median price of condos at 268,000 is down $1,900 from Jun.

The median price of condos is up $5,000 or 1.9% from Jul 2009.

Condo sales at 396 are down 44% compared to Jul 2009.

Jul 29
Calgary is the only major Canadian market with house prices remaining below their pre-recession peak. Read more Calgary house prices

Jul 20
The Bank of Canada raised its benchmark interest rate by 25 basis points today, the second straight time it has done so after keeping rates at unprecedented lows for more than a year. In raising the rate, the bank moved to lightly hit the brakes on a Canadian economy that has shown signs of significant strength in recent months. Read more: Bank of Canada hikes rates again

Jul 20
The median price is down $8,900 already in July, but be prepared for it to fall further before the month is out. The median price of pending sales at $399,900 is a harbinger of a further decrease.The sales price per sq ft and the average price are all on the way down.

Jul 14
New listings are down 5% in July compared to last year. Read more on My Blog

Jul 13
Despite what anyone thinks their house is worth, market sentiment dictates a home's true value. Read more from MSN How to time the housing market.

Jul 12
Where are prices heading? A new question has been posted Take My Online Poll

Jul 12
Over the past week, homes which sold for list price or higher were located in Strathcona Park(2), Glendale, Altadore, Douglasdale, Capitol Hill, Bridlewood, Monterey Park.

Jul 1
Happy Canada Day everyone! I hope you enjoy this beautiful day, and count your blessings for having the good fortune of living in this great country of ours.

June 2010 stats summary:

The median price of single family homes(SFH) at $418,900 is down $1,100, or .3% from May.  It's up 5% from Jun 2009 when it was $399,000.

The SFH average price at $481,964 is down $1,277 or .3% compared to May. It's up $34,822 or 7.8% from Jun 2009 when it was $447,142.

SFH sales price per sq ft at $308 is up $1 compared to May. It’s up $20 or 6.9%, from Jun 2009 when it was $288.

Sales of single family homes were down 42% compared to Jun 2009. 

Sales of SFH are down 35% compared to the historic average for Jun.

SFH Inventory on Jun 30 was 5991, which is 76% higher than last year. 

New listings at 2733 were up 22% compared to last year.

The absorption rate of 5.7 means that we have a 5.7 month, or 171 days, supply of homes on the market. Last year, there was a 1.8 month supply. For homes under $500,000, there is a 5.4 month supply.

Days on Market(DOM) increased to 39 in Jun from 38 in May. Last year, it was 44.

38 homes sold for $1 million or more. Last year, there were also 38.

Price reductions are up 100% compared to last year. We've averaged 102 price reductions per day over the past week. Last year was 51. Last month was 129.

13% of the homes listed in Jun already have a sale or a conditional sale. Last month was 16%. Last year, it was 34%.

7% of SFH sold for list price or higher. Last month was 6%.

The median price of condos at 269,900 is down $10,000 from May.

The median price of condos is up $4,400 or 1.7% from Jun 2009.

Condo sales at 445 are down 40% compared to Jun 2009.

Jun 28
Over the past week, homes which sold for list price or higher were located in Lakeview, Parkland, Panorama Hills, Sherwood, Killarney, Signal Hill, Lake Bonavista Estatates, South Calgary, Wildwood, Silver Springs, Willow Park, Douglasdale, Highland Park, Glenbrook, Hidden Valley, and Winston Heights.

Jun 25
Condo inventory increased by only 12 listings in the past week. Single family home inventory increased by 151 listings.

Jun 23
24% of the "new" listings yesterday were actually re-lists; ie listings which had recently expired or were terminated and are now back on the market. Last year, on the same date, 10% were re-lists.

Jun 23
Calgary Market Trends has just been updated and shows that SFH new listings have declined for five consecutive weeks. Sales over the past month are down 41% compared to last year.  

Jun 18
As interest rates rise, more people are selling their properties -- and diving into rentals, driving up rents as well. Read more in the Globe and Mail Homeowners sell, start renting instead

Jun 16
Further interest-rate hikes in Canada are not “pre-ordained,” central bank governor Mark Carney said Wednesday.Read more Interest rate hikes in Canada not Pre-ordained

Jun 16
How high will inventory go this year? A new question has been posted Take My Online Poll

Jun 14
We're averaging 126 price reductions per day. That's about the same as last month, and includes both condos and SFH. Last year in June was 51.

Jun 14
The SFH median price is up $21,000(5.3%) compared to June 2009. Inventory is up 78%.

Jun 11
26% of yesterday's "new" listings were actually re-lists.

May 2010 stats summary:

The median price of single family homes(SFH) at $420,0000 is up $3,000, or .7% from Apr.  It's up 7.7% from May 2009 when it was $390,000.

The SFH average price at $483,240 is up $22,862 or 5% compared to Apr. It's up $46,813 or 10.7% from May 2009 when it was $436,427.

SFH sales price per sq ft at $307 is up $6 compared to Apr. It’s up $28, or 10%, from May 2009 when it was $279

Sales of single family homes were down 20% compared to May 2009. 

Sales of SFH are down 25% compared to the historic average for May.

SFH Inventory on May 31 was 5649, which is 46% higher than last year. 

New listings at 2966 were up 33% compared to last year.

The absorption rate of 4.5 means that we have a 4.5 month, or 135 days, supply of homes on the market. Last year, there was a 2.4 month supply. For homes under $500,000, there is a 4.1 month supply.

Days on Market(DOM) increased to 38 in May from 36 in Apr. Last year, it was 45.

55 homes sold for $1 million or more. Last year, there were 36.

Price reductions are up 126% compared to last year. We've averaged 129 price reductions per day over the past week. Last year was 57. Last month was 104.

16% of the homes listed in May already have a sale or a conditional sale. Last month was 19%. Last year, it was 29%.

6% of SFH sold for list price or higher. Last month was 9%.

The median price of condos at 279,900 is up $12,450 from Apr.

The median price of condos is up $24,900 or 9.8% from May 2009.

Condo sales at 518 are down 19% compared to May 2009.

May 30
Condo median prices reached a new 22-month high yesterday at $278,750. The highest ever was in Aug 2007 at $301,000.

May 30
61% of the homes sold in the past 2 days had at least one price reduction.

May 30
There were 54 new SFH listings yesterday of which 14 were re-lists.

May 27
6 homes sold for more than $1 million yesterday. 47 homes have sold for more than $1 million this month. The record is 61 in March 2007.

May 27
The SFH average price has risen $26,000(6%) this month, to $486,394. The median price has risen only $3,000, to $420,000. The sales price per sq ft is up from $301 in April to $308 this month.

May 20
Over the past 3 days, single family homes have sold at list price or higher in Aspen Woods, Altadore, Springbank Hill, Crescent Heights, Royal Oak, Copperfield, Cranston, South Calgary, Parkhill and Richmond Hill. This month, 5% of homes are selling for list price or higher.

May 20
We're averaging 128 price reductions per day over the past week. That includes both condos and single family homes.

May 10
How much will this new listing sell for? How long will it take? Closest guess will win a gift certificate to Rouge Restaurant. Read more on My Blog

May 6
Mortgage fraud is prominent in the news. Are straw buyers innocent victims or greedy fraudsters? A new question has been posted Take My Online Poll

Apr 2010 stats summary:

The median price of single family homes(SFH) at $417,0000 is down $6,000, or 1.4% from Mar.  It's up 9.7% from Apr 2009 when it was $380,000.

The SFH average price at $460,378 is down $10,891 or 2.3% compared to Mar. It's up $34,067 or 8% from Apr 2009 when it was $426,311.

SFH sales price per sq ft at $301 was down $7 compared to Mar. It’s up $29, or 11%, from Apr  2009 when it was $272

Sales of single family homes were up 5% compared to Apr 2009. 

Sales of SFH are down 19% compared to the historic average for Apr.

SFH Inventory on Apr 30 was 4986, which is 21% higher than last year. 

New listings at 3082 were up 53% compared to last year.

The absorption rate of 3.7 means that we have a 3.7 month, or 111 days, supply of homes on the market. Last year, there was a 3.2 month supply. For homes under $500,000, there is a 3.2 month supply.

Days on Market(DOM) decreased to 36 in Apr from 33 in Mar. Last year, it was 52.

29 homes sold for $1 million or more. Last year, there were 23.

Price reductions are up 60% compared to last year. We've averaged 104 price reductions per day over the past week. Last year was 65.

19% of the homes listed in Apr already have a sale or a conditional sale. Last month was 26%. Last year, it was 19%.

9% of SFH sold for list price or higher. Last month was 12%.

The median price of condos at 267,500 is down $7,500 from Mar.

The median price of condos is up $16,500 or 6.6% from Apr 2009.

Condo sales at 639 are up 10% compared to Apr 2009.

Apr 29
Development permits were issued this month for 40 new single family homes in the inner city. In April 2009, 28 were issued.

Apr 29
Price reductions are way up. Over the past 7 days, we've averaged 104 price reductions per day. last month was 81. April 2009 was 65. April 2008 was 166.

Apr 23
Development permits were issued this week for 9 new single family homes in the inner city.

Apr 23
The median price has dropped $4500 this month, but is still up $17,500 since Dec 31.

Apr 19
The new mortgage rules kick in today. The key changes are:

- borrowers must qualify for the 5 year rate even if they opt for a shorter term.

- on refinancing, the maximum amount of equity withdrawal is reduced from 95% to 90%.

- non owner occupied residences bought for investment now require a 20% down payment.

Apr 19
Here's a table which gives the average sales price per sq ft over the last four months, and the increase since April 2009. You can see that bungalows cost a lot more than an equivalent sized 2-storey:

SFH Sales price per sq ft $
Month	2-Storey	Bungalow	All others
Apr 1-18, 2010	$268(8.5%)	$375(13.6%)	$304(7%)
Mar 2010	267	383	319
Feb 2010	270	370	305
Jan 2010	257	366	303
Apr 2009	247	330	284

You can see from the table above that bungalows have increased much more than other styles. Since April 2009, the overall average price has increased 7.6%

Apr 17
Development permits were issued this week for 9 new single family homes in the inner city

Apr 15
The 30-day sales price per sq ft(SP/SF) today at $309 is actually higher than it was in March at $308. When the SP/SF increases but the average and median price decline, it usually means that people are buying smaller homes.

Apr 13
It took a few days longer than expected, but the 30-day median price finally dropped yesterday to $423,500 after hanging on at $425,000 for nine days. (As predicted right here on April 3.) According to the pending sales, it should continue to drop for the upcoming week. You can see the daily progression of the 30-day price SFH Daily/Monthly Summaries.

Apr 13
Have you checked this lately? Homes wanted now!

Apr 9
Homes have sold at list price or higher this month in the following communities: Beddington, Canyon Meadows, Capitol Hill, Christie Park, Coach Hill, Copperfield, Dalhousie, Edgemont, Evanston, Lynnwood, Martindale, McKenzie Towne, Mount Royal, North Glenmore, North Haven, Penbrooke, Rosscarrock, Saddleridge, Scenic Acres, Silverado, Springbank Hill, Temple, Tuscany(2), Valley Ridge, Varsity Acres.

Apr 8
According to a report released Thursday from CIBC's chief economist Avery Shenfeld, interest rates are likely to remain at a very low 2.5 per cent through to 2011 — not the seven to eight per cent forecast by some. Read more in the Herald Interest rates to remain low through 2011: CIBC

Apr 8
Development permits were issued this week for 12 new single family homes in the inner city.

Apr 8
Prospects for Calgary's construction industry continued to improve in March, as the value of building permits rose. Dan Sumner, an economist with ATB says "But if they (developers) are still building, then that's a sign they are still expecting demand to increase." Read more in the Herald City building permits surge 74% in March.

Apr 5
Calgary Market Trends has been updated and shows that 8% of homes are selling for list price or higher. That's down from 14% last week. 6% of all sales in the past week were "under water."

Apr 3
Get ready for a drop in prices. The average price of pending sales today is $453,044. That should mean lower sales prices in the coming week. The average price in March was $471,268.

Apr 2
CREB president says "rising interest rates are motivating buyers to take the plunge." Read more in the Herald Interest rates fuel Calgary housing market

Apr 1
 

Mar 2010 stats summary:

The median price of single family homes(SFH) at $423,000 is up $12,000, or 2.9% from Feb. It's up 12.8% from Mar 2009 when it was $375,000.

The SFH average price at $471,269 is up $13,015 or 2.8% compared to Feb. It's up $50,916, or 12.1% from Mar 2009 when it was $420,353.

SFH sales price per sq ft at $308 was up $4 compared to Feb. It’s up $35, or 13%, from Mar 2009 when it was $273

Sales of single family homes were up 29% compared to Mar 2009.

Sales of SFH are down 14% compared to the historic average for Mar.

SFH Inventory on Mar 31 was 4014, which is 8% lower than last year.

New listings at 2988 were up 48% compared to last year.

The absorption rate of 2.9 means that we have a 2.9 month, or 87 days, supply of homes on the market. Last year, there was a 4.0 month supply. For homes under $500,000, there is a 2.6 month supply.

Days on Market(DOM) decreased to 33 in Mar from 35 in Feb. Last year, it was 48.

33 homes sold for $1 million or more. Last year, there were 18.

Price reductions are up 23% compared to last year. We've averaged 81 price reductions per day over the past week. Last year was 66.

26% of the homes listed in Mar already have a sale or a conditional sale. Last year, it was 19%.

12% of SFH sold for list price or higher. Last month was 11%.

37% of SFH sold during their first 7 days on the market. Last month was 36%.

The median price of condos at 275,000 is up $10,000 from Feb.

The median price of condos is up $15,000 or 5.8% from Mar 2009.

Condo sales at 609 are up 37% compared to Mar 2009.

Mar 30
Is there a real estate bubble in Calgary? Take My Online Poll

Mar 29
Calgary Market Trends has been updated, and shows that 14% of homes sold in the past week went for list price or higher.

Mar 25
So far this month, 67 single family homes have sold on their first day.

Mar 25
Development permits were approved this month for 47 new single family homes in the inner city. Last year was 39.

Mar 23
Are you thinking of selling your house in Douglasglen or Riverbend? Check my Homes wanted now!

Mar 22
Have you purchased a home since June 2006? Are you "under water?" See the data on this situation on My Blog.

Mar 22
Calgary Market Trends has just been updated, and shows that 13% of homes sold in the past week went for list price or higher.

Mar 22
Can't find a house to buy? Don't panic. It looks like we may be heading for a buyer's market. Compared to historic averages, for the first 3 weeks of March, sales of SFH are down 18% and new listings are up 21%. If this trend continues, the absorption rate which is presently a balanced market, will soon slip into buyer's market conditions.

Mar 16
Three homes in West Springs have sold for list price or higher since March 1. A total of seven homes have been sold.

Mar 13
Indications are that we're going to have a good selection of inventory for buyers to choose from this year. For the first 12 days of March, compared to the historical average, new listings are up 31% and sales are down 13%.

Mar 13
11% of SFH have sold for list price or higher this month.

Mar 12
Development permits were approved this week for 13 new homes in the inner city.

Mar 3
The average CDOM(cumulative days on market which factors in re-lists) during the last week in Feb was 39. The median CDOM was 15. With a total of 295 sales, that translates into 147 homes selling in 15 days or less.

Mar 3
In the first two days of March, homes sold for list price or higher in Cambrian Heights, Chinook Park, Acadia, Pump Hill, McKenzie Towne, Mayland Heights, Panorama Hills, West Springs, Meadowlark, MacEwan Glen, Skyview ranch, Pineridge and Saddleridge.

Feb 2010 stats summary:

The median price of single family homes(SFH) at $411,000 is up $13,000, or 3.3% from Jan. It's up 9.6% from Feb 2009 when it was $375,000.

The SFH average price at $458,254 is up $17,036 or 3.9% compared to Jan. It's up $42,685, or 10.3% from Feb 2009 when it was $415,568.

SFH sales price per sq ft at $304 was up $5, or 2% compared to Jan. It’s up $32, or 12%, from Feb 2009 when it was $272

Sales of single family homes were up 25% compared to Feb 2009.

Sales of SFH are down 24% compared to the historic average for Feb.

SFH Inventory on Feb 28 was 3106, which is 29% lower than last year.

New listings at 2154 were up 5% compared to last year.

The absorption rate of 3.0 means that we have a 3 month, or 90 days, supply of homes on the market. Last year, there was a 5.3 month supply. For homes under $500,000, there is a 2.7 month supply.

Days on Market(DOM) decreased to 35 in Feb from 43 in Jan. Last year, it was 51.

20 homes sold for $1 million or more. Last year, there were 15.

Price reductions are down 42% compared to last year. We've averaged 45 price reductions per day over the past week. Last year was 78.

34% of the homes listed in Feb already have a sale or a conditional sale. Last year, it was 14%.

11% of SFH sold for list price or higher. Last month was 14%.

36% of SFH sold during their first 7 days on the market. Last month was 31%.

The median price of condos at 265,900 is up $900 from Jan.

The median price of condos is up $16,050 or 6.4% from Feb 2009.

Condo sales at 536 are up 56% compared to Feb 2009.

Feb 26 Over the past 4 days, homes have sold for list price or higher in Altadore, Aspen Woods, Chaparral, Deer Run, Douglasdale, Discovery Ridge, Edgemont(2), Lake Bonavista, Marlborough, McKenzie Towne, Meadowlark, Oakridge, Panorama, Rosscarrock, Springbank Hill, Westgate, West Springs. Feb 26 37% of the new listings this month have sold during their first seven days on the market. Feb 16 This morning, Federal Finance Minister Jim Flaherty announced prudent changes to mortgage insurance rules intended to come into force on April 19, 2010. The changes are as follows: - All borrowers must meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term - The maximum amount one can withdraw in refinancing their mortgage will be reduced to 90% from the current 95% of the value of one's home; - Non-owner occupied properties will require a minimum down payment of 20%. Read more Tightened mortgage rules could slow home sales Feb 10 As predicted on Feb 3, the median price has risen. Over the past seven days, the median price of sales was $420,000.  The 30-day median price has risen to $402,500. Feb 10 Four homes have sold for higher than list price in Haysboro in the past two weeks. Feb 6 A home in Elbow Park sold yesterday for $5.3 million. Only two homes have ever sold for more on MLS, with one selling last year in Elbow Park for 10.3 million. Feb 4 The Calgary Market Trends page has been updated. It shows that 32% of homes sold during their first week on the market. Feb 4 The average CDOM(cumulative days on market which factors in re-lists) during the last week in Jan was 43. The median CDOM was 15. With a total of 255 sales, that translates into 127 homes selling in 15 days or less. Feb 3 If the pending sales are any indication, the median price of SFH should rise over the next week. The median price of pending sales is at $426,900 today(9:51 a.m.) The 30-day median price on Feb 2 was $398,000. Feb 3 Homes sold for list price or higher on Feb 1-2 in Rocky Ridge, Lakeview, McKenzie Towne, Deer Ridge, Whitehorn, Castleridge and Penbrooke.

Jan 2010 stats summary:

The median price of single family homes(SFH) at $398,000 is down $3,000, or .8% from Dec.  It's up 6.2% from Jan 2009 when it was $374,700.

The SFH average price at $441,217 is down $10,132 or 2.2% compared to Dec. It's up $28,168, or 6.8% from Jan 2009 when it was $413,049.

SFH sales price per sq ft at $299 was down $3, or 1% compared to Dec. It’s up $30, or 11%, from Jan 2009 when it was $269

Sales of single family homes were up 39% compared to Jan 2009. 

Sales of SFH are down 29% compared to the historic average for Jan.

SFH Inventory on Jan 31 was 2513, which is 38% lower than last year. 

New listings at 1822 were down 12% compared to last year.

The absorption rate of 3.3 means that we have a 3.3 month, or 99 days, supply of homes on the market. Last year, there was a 7.4 month supply. For homes under $500,000, there is a 2.6 month supply.

Days on Market(DOM) decreased to 43 in Jan from 47 in Dec. Last year, it was 62.

12 homes sold for $1 million or more. Last year, there were 6.

Price reductions are down 41% compared to last year. We've averaged 32 price reductions per day over the past week. Last year was 54.

31% of the homes listed in Jan already have a sale or a conditional sale. Last year, it was 11%.

14% of SFH sold for list price or higher. Last month was 10%.

31% of SFH sold during their first 7 days on the market. Last month was 21%.

The median price of condos at 265,000 is the same as Dec.

The median price of condos is up $22,000 or 9.1% from Jan 2009.

Condo sales at 376 are up 67% compared to Jan 2009.

Jan 30
Homes sold for list price or higher yesterday in Bowness, Coventry Hills, Acadia, MacEwan, Mount Pleasant, Beddington, Douglasdale, Crescent Heights, and Auburn Bay.

Jan 30
There is a 102-day supply of homes on the market. Last year, it was a 222-day supply.

Jan 29
26% of the homes listed in the past 30 days have already sold or conditionally sold. You can see all the other latest trends here Calgary Market Trends. Just updated today.

Jan 28
Sales of SFH are up 44% compared to Jan last year, but down 30% compared to the historic average.

Jan 23
Single family home inventory is at 61% of last year's level. Condos are 72%.

Jan 20
The Calgary Real Estate Board has made their prediction for 2010:"The board predicts the average price for a single-family home in Calgary in 2009 will jump six per cent to $470,000 from $442,327 last year and the average condo price will rise 4.3 per cent to $296,000 from $283,734 in 2009." Read more in the Herald Modest gains in 2010

Jan 20
14% of sales in January have been for list price or higher.

Jan 20
20% of the homes listed in the past 30 days have already sold or conditionally sold.

Dec 2009 stats summary:

The median price of single family homes(SFH) at $401,000 is down $7,000, or 1.7% from Nov.  It's up 5.5% from Dec 2008 when it was $380,000.

The SFH average price at $451,348 is down $13,096 or 2.8 compared to Nov. It's up $33,950, or 8.1% from Dec 2008 when it was $417,398.

SFH sales price per sq ft at $302 was down $2, or .7% compared to Nov. It’s up $30, or 11%, from Dec 2008 when it was $272.

Sales of single family homes were up 78% compared to Dec 2008. 

Sales of SFH are down 8% compared to the historic average for Dec.

Year-to-date sales at 14,442 were up 7.4% compared to last year.

SFH Inventory on Dec 31 was 2053, which is 47% lower than last year. 

New listings at 806 were down 4% compared to last year.

The absorption rate of 2.6 means that we have a 2.6 month, or 78 days, supply of homes on the market. Last year, there was an 8.6 month supply. For homes under $500,000, there is a 1.7 month supply.

Days on Market(DOM) increased to 47 in Dec from 42 in Nov. Last year, it was 61.

20 homes sold for $1 million or more. Last year, there were 4.

Price reductions are down 64% compared to last year. We've averaged 6 price reductions per day over the past week. Last year was 17.

26% of the homes listed in Dec already have a sale or a conditional sale. Last year, it was 9%.

10% of SFH sold for list price or higher. Last month was 12%.

21% of SFH sold during their first 7 days on the market. Last month was 24%.

The median price of condos at 265,000 is up $100 from Nov.

The median price of condos is up $11,000 or 4.4% from Dec 2008.

Condo sales at 341 are up 66% compared to Dec 2008.

Year-to-date sales of condos were up 11.8% compared to last year.