October 2018 - Calgary Real Estate News Flash

Dated: 10/09/2018

Views: 12

We are in a buyer's market.

Almost 600 listings were taken off the market last month due to being terminated or expired.  That's about 7% of the total listings in Calgary. However, the market is still oversupplied for the current demand (it would take over 6 months for only the current listings to be absorbed by buyers).  

Sales of detached homes are down over 20% compared to the 10-year average.
Sales of apartment condos are down over 20% compared to long-term averages.
Sales of townhouses are down 14% compared to long-term averages.

More specifically:

There are 15.48% more homes for sale right now than at this point last year.  Sales have dropped by 14.21% compared to an already weak 2017.  Average prices are down 0.96%.


Compared to this time last year:

  • Sales of detached homes are down 15%  Average price is up 0.14%. There are 24% more detached homes for sale (over 4,300) this year than at this point in 2017.
  • Sales of townhouses are down 15%.  Average price is down 2.25%. There are 22% more townhouses for sale (over 1,900) this year than at this point in 2017.

  • Sales of apartment condos are down 6%.  Average price is down about 0.32%.  However, there are 8% less apartments for sale (about 1,600) this year than at this point in 2017.
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Casey Owens

My goal is to help my clients sell or purchase their home in Calgary for a favorable price, armed with accurate and impartial market data. I am a keen, loyal and hardworking agent who believes in buil....

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