CALGARY REGIONAL HOUSING MARKET STATISTICS CALGARY SALES COMPARISON CALGARY INVENTORY AND SALES

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1 CALGARY REGIONAL HOUSING MARKET STATISTICS 4.12 A RETURN TO TYPICAL SALES ACTIVITY IN THE CALGARY REGION Improved activity across all sectors Calgary, May 1, 212 For the month of April 212, yearoveryear sales activity improved across all sectors in the city. Calgary residential sales total 2,2 for the month, a 26 per cent increase over levels recorded last year. CALGARY SALES COMPARISON The growth in fulltime employment, combined with improving migration levels, is translating into improved demand for housing, says AnnMarie Lurie, CREB chief economist. While sales growth does seem exceptionally strong, it is important to keep in perspective that the sales activity in Calgary is returning to levels more consistent with the longterm average. The singlefamily market continues to tighten, with months of supply dropping below three months. Sales growth continues to outpace newlistings activity, placing downward pressure on inventories. As the market tightens, singlefamily homes are selling quicker, and there has been some upward pressure on pricing. The MLS Home Price Index for the month of April recorded a yearoveryear price increase of 5.5 per cent for a total benchmark price of $449,5. While the balance between demand and supply in the singlefamily market has shifted towards sellers territory, there are several components that make today s market different from five years ago, says Bob Jablonski, president of CREB. The main difference is there is still significant supply for consumers in surrounding towns and the condominium market in the city, and the newhome builders do have the ability to absorb some of the excess demand, Jablonski adds. After the first four months of the year, the condominium apartment sales totaled 1,133, a 2.2 per cent increase over the same period last year. Tighter supply in the singlefamily market has translated to improved demand for condominium apartments, and consumers active in this market have a sufficient amount of supply and new listings to choose from. New condominium apartment listings for the month of April rose by 5.9 per cent compared to last year, and remain at similar levels on a yeartodate basis. As the gap between inventories and sales narrows, the months of supply continues to trend toward levels that are more consistent with a balanced market. While the condominium apartment market moved into more balanced territory, index prices remain relatively unchanged. The condominium townhouse market is trending in a similar fashion to the single family market, and recorded a yearoveryear index price increase of 2.7 per cent. Overall for the month of April, the condominium townhouse and apartment CALGARY INVENTORY AND SALES markets recorded a benchmark price of 294,5 and 248,3, respectively. While sales activity and the level of new listings continue to remain below longterm trends, the spring market is definitely on the rise over the previous year, says Jablonski. As confidence in the local housing market continues to build, we anticipate a rise in demand, followed by improved listings from those waiting to see some price appreciation prior to listing their home. NOTE: The single family benchmark price has been pushed up to levels comparable to those recorded in 27, but the index continues to remain below peak levels. Why the difference? This is mostly due to the community weighting factor inherent in the benchmark price. The index figure does not have the same bias, and therefore is a better measure of the true price appreciation in the market. CREB Calgary Regional Housing Market Statistics Page 1

2 CREB SUMMARY STATISTICS For a list of definitions, see page 2. Page 2

3 CREB SUMMARY STATISTICS CITY OF CALGARY Page 3

4 MLS HPI SUMMARY Page 4

5 COMPARISONS Benchmark Price April 6, 5, 4, 2, 1, 1 storey 2 Storey Total SF Townhouse Apartment Total Composite CREB Total Residential CREB City of Calgary CREB Towns Months of Supply April Sales Distribution April % 13.92% 15.95% 11.69% 12.14% 7.43% 11.85% % 71.91% 8.72% 2. 2 Months of Supply SF Months of Supply Townhouse Months of Supply Apartment CREB Total Residential CREB City of Calgary CREB Towns CREB Total Residential CREB City of Calgary CREB Towns Single Family Townhouse Apartment CRES CALGARY INDEX VALUE CALGARY YEAR OVER YEAR PRICE CHANGES Index Value Single Family Index Value Apartment Index Value Tonwhouse SF Y/Y Index Price Change Townhouse Y/Y Price Change Apartment Y/Y iindex Price Change Page 5

6 CITY OF CALGARY TOTAL CALGARY YTD SALES BY PRICE RANGE 3 YTDAPRIL 25% 2 15% 1 5% < $2, $ $35, $45, $55, $2, $299,999 $349,999 $449,999 $549,999 $699,999 $7, + YTD29 YTD21 YTD211 YTD212 CREB Calgary Regional Housing Market Statistics Page 6

7 CITY OF CALGARY CALGARY YTD TOTAL SALES CALGARY YTD TOTAL NEW LISTINGS 12, YTDAPRIL 2, YTDAPRIL 1, 18, 16, 8, 14, 12, 6, 1, 4, 8, 6, 2, 4, 2, SF Sales TH Sales Apartment Sales 1 Year Average SF New Listings TH New Listings Apartment New Listings 1 Year Average CALGARY INVENTORY AND SALES 7, 6, 5, 4, 45, 4, 35, 25, CALGARY MONTHS OF INVENTORY , 2, 1, 2, 15, 1, 5, BALANCED Inventory Sales Benchmark Price Months of Supply 3 month MA CALGARY PRICE CHANGE COMPARISON 42, 4, 38, 36, 34, 32, CALGARY PRICES 46, 44, 42, 4, 38, 36, 34, 32, Average Price Y/Y% Change Index Y/Y% Change Benchmark Price Average Price Benchmark Price CREB Calgary Regional Housing Market Statistics Page 7

8 CITY OF CALGARY SINGLE FAMILY CALGARY YTD SINGLE FAMILY SALES BY PRICE RANGE 4 YTDAPRIL 35% 3 25% 2 15% 1 5% < $ $ $349,999 $35, $449,999 $45, $549,999 $55, $699,999 $7, + YTD29 YTD21 YTD211 YTD212 CREB Calgary Regional Housing Market Statistics Page 8

9 CITY OF CALGARY SINGLE FAMILY CALGARY YTD SINGLE FAMILY SALES CALGARY YTD SINGLE FAMILY NEW LISTINGS 9, YTDAPRIL 14, YTDAPRIL 8, 12, 7, 6, 1, 5, 8, 4, 6, 3, 2, 4, 1, 2, SF Sales 1 Year Average SF New Listings 1 Year Average CALGARY SINGLE FAMILY INVENTORY AND SALES CALGARY SINGLE FAMILY MONTHS OF INVENTORY 5, 5, 9 4,5 45, 8 4, 4, 7 3,5 35, 6 3, 2,5 2, 1,5 1, 25, 2, 15, 1, BALANCED 5 5, 1 SF Inventory SF Sales SF Benchmark Price SF Months of Supply 3 month MA CALGARY SINGLE FAMILY PRICE CHANGE COMPARISON CALGARY SINGLE FAMILY PRICES 46, 35% 53, 44, 42, 4, 38, 36, 34, 32, 3 25% 2 15% 1 5% 5% 1 15% 51, 49, 47, 45, 43, 41, 39, 37, 2 35, SF Average Price Y/Y% Change Index Y/Y% Change SF Benchmark Price SF Average Price SF Benchmark Price CREB Calgary Regional Housing Market Statistics Page 9

10 CITY OF CALGARY CONDOMINIUM TOWNHOUSE CALGARY YTD TOWNHOUSE SALES BY PRICE RANGE 6 YTDAPRIL < $2, $2, $299,999 $ $399,999 $4, $599,999 $6,+ YTD29 YTD21 YTD211 YTD212 CREB Calgary Regional Housing Market Statistics Page 1

11 CITY OF CALGARY CONDOMINIUM TOWNHOUSE CALGARY YTD TOWNHOUSE SALES CALGARY YTD TOWNHOUSE NEW LISTINGS 1,6 YTDAPRIL 2,5 YTDAPRIL 1,4 1,2 2, 1, 1, , Townhouse Sales 1 Year Average Townhouse New Listings 1 Year Average CALGARY TOWNHOUSE INVENTORY AND SALES CALGARY TOWNHOUSE MONTHS OF INVENTORY 9 35, , , , 1, BALANCED 1 5, 1 TH Inventory TH Sales TH Benchmark Price TH Months of Supply 3 month MA CALGARY TOWNHOUSE PRICE CHANGE COMPARISON CALGARY TOWNHOUSE PRICES 34, 5 36, 32, 4 34, 3 32, 28, 2 26, 1 28, 24, 26, 22, 1 24, 2, 2 22, TH Average Price Y/Y % Change Index Y/Y% Change TH Benchmark Price TH Average Price TH Benchmark Price CREB Calgary Regional Housing Market Statistics Page 11

12 CITY OF CALGARY CONDOMINIUM APARTMENTS CALGARY YTD APARTMENT SALES BY PRICE RANGE 7 YTDAPRIL < $2, $2, $299,999 $ $399,999 $4, $599,999 $6,+ YTD29 YTD21 YTD211 YTD212 CREB Calgary Regional Housing Market Statistics Page 12

13 CITY OF CALGARY CONDOMINIUM APARTMENTS CALGARY YTD APARTMENT SALES CALGARY YTD APARTMENT NEW LISTINGS 2,5 YTDAPRIL 4, YTDAPRIL 3,5 2, 3, 1,5 2,5 2, 1, 1,5 5 1, 5 Apartment Sales 1 Year Average Apartment New Listings 1 Year Average CALGARY APARTMENT INVENTORY AND SALES CALGARY APARTMENT MONTHS OF INVENTORY 1,4 1 1,2 25, 9 8 1, 8 2, 15, , 4 3 BALANCED 2 5, 2 1 Apartment Inventory Apartment Sales Apartment Benchmark Price Apartment Months of Supply 3 month MA CALGARY APARTMENT PRICE CHANGE COMPARISON CALGARY APARTMENT PRICES 32, 28, 26, 24, 22, 2, , 32, 28, 26, 24, 22, 2, Apartment Average Price Y/Y% Change Apartment Benchmark Price Index Y/Y% Change Apartment Average Price Apartment Benchmark Price CREB Calgary Regional Housing Market Statistics Page 13

14 CREB TOWNS CREB TOWNS YTD SALES BY PRICE RANGE 3 YTDAPRIL 25% 2 15% 1 5% < $2, $ $35, $45, $55, $7, $2, $299,999 $349,999 $449,999 $549,999 $699,999 + YTD29 YTD21 YTD211 YTD212 CREB Calgary Regional Housing Market Statistics Page 14

15 CREB TOWNS CREB TOWNS YTD TOTAL SALES 2,5 YTDAPRIL CREB TOWNS YTD TOTAL NEW LISTINGS 4,5 YTDAPRIL 4, 2, 3,5 1,5 3, 2,5 1, 2, 1,5 5 1, 5 SF Sales Apartment Sales TH Sales 1 Year Average SF New Listings Apartment New Listings TH New Listings 1 Year Average CREB TOWNS INVENTORY AND SALES CREB TOWNS MONTHS OF INVENTORY 3,5 4, 18 3, 2,5 2, 1,5 1, 5 35, 25, 2, 15, 1, 5, BALANCED Inventory Sales Benchmark Price Months of Supply 3 month MA CREB TOWNS PRICE CHANGE COMPARISON CREB TOWNS PRICES 37, 4 43, 36, 35, 34, , 39, 37, 33, 1 35, 32, 33, 31, 29, , 29, 27, 28, 3 25, Average Price Y/Y% Change Index Y/Y% Change Benchmark Price Average Price Benchmark Price CREB Calgary Regional Housing Market Statistics Page 15

16 CREB COUNTRY RESIDENTIAL CRES YTD SALES BY PRICE RANGE 3 YTD APRIL 25% 2 15% 1 5% < $5, $5, $599,999 $6, $7, $699,999 $799,999 $8, $999,999 $1,, $1,5,+ $1,499,999 YTD29 YTD21 YTD211 YTD212 CREB Calgary Regional Housing Market Statistics Page 16

17 CREB COUNTRY RESIDENTIAL CRES YTD TOTAL SALES YTDAPRIL CRES YTD TOTAL NEW LISTINGS YTDAPRIL CRES Sales 1 Year Average CRES New Listings 1 Year Average CRES INVENTORY AND SALES CRES MONTHS OF INVENTORY 1, ,2 1, BALANCED Inventory Sales Median Price Months of Supply 3 month MA CRES YEAR OVER YEAR PRICE CHANGES CRES PRICES 8 1,2, 6 1,1, 4 1,, 9, 2 8, 7, 2 6, 4 5, Average Price Y/Y% Change Average Price Y/Y% Change 3 month MA Average Price Average Price 3 month MA CREB Calgary Regional Housing Market Statistics Page 17

18 CREB TOTAL RESIDENTIAL CREB RESIDENTIAL YTD SALES BY PRICE RANGE 3 YTDAPRIL 25% 2 15% 1 5% < $2, $ $35, $45, $55, $7, $2, $299,999 $349,999 $449,999 $549,999 $699,999 + YTD29 YTD21 YTD211 YTD212 CREB Calgary Regional Housing Market Statistics Page 18

19 CREB TOTAL RESIDENTIAL CREB RESIDENTIAL YTD TOTAL SALES 16, YTDAPRIL CREB RESIDENTIAL YTD TOTAL NEW LISTINGS 25, YTDAPRIL 14, 12, 2, 1, 15, 8, 6, 1, 4, 2, 5, SF Sales Apartment Sales TH Sales CRES 1 Year Average SF New Listings Apartment New Listings TH New Listings CRES New Listings 1 Year Average CREB RESIDENTIAL INVENTORY AND SALES CREB RESIDENTIAL MONTHS OF INVENTORY 12, 45, 12 1, 4, 35, 1 8, 8 6, 4, 25, 2, 15, 6 4 BALANCED 2, 1, 5, 2 Inventory Sales Benchmark Price CREB RESIDENTIAL PRICE CHANGE COMPARISON 42, 4, 38, 36, 34, 32, CREB RESIDENTIAL PRICES 48, 46, 44, 42, 4, 38, 36, 34, 32, Average Price Y/Y Change Index Y/Y% Change Benchmark Price Average Price Benchmark Price CREB Calgary Regional Housing Market Statistics Page 19

20 DEFINITIONS SF Single Family TH Condominium Townhouse Months of Supply Active Listings (Inventory) / sales Composite includes single family, apartment and townhouse activity Average DOM Average Days on Market for Sold properties Sales $ / List $ sales price to list price ratio Active Listings Total listings on the market as of 4:3am on the first of day of the month LP List Price SP Sales Price CRES Country residential properties YTD Year to Date 3 month MA 3 month Moving Average Y/Y Year over Year New Listings include listings added for a particular month HOW THESE STATISTICS ARE CALCULATED In order to align our data with the MLS Home Price Index (HPI), we made several changes to the data that we report, as well as the monthly statistics. The new package provides more information and data exclusions provide a better residential picture. All the data provided through the monthly statistics package as of March 212, reflect these adjustments. Please note, historical PDF packages do not include the changes. A summary of these changes is available below: MONTHLY STATISTICS PACKAGE We now provide monthly statistics for: CREB Total Residential, CREB Towns, CREB Country Residential (CRES), City of Calgary, City of Calgary Single Family, City of Calgary Condominium Apartment, City of Calgary Condominium Townhouse. All categories exclude: vacant lots, time shares, parking stalls and mobile homes on leased land. CITY OF CALGARY Includes sales in Zones A, B, C, D only. Condominium Apartment includes all Condominium title properties that are classified by type as either a lowrise or highrise apartment. Condominium Townhouse include all Condominium titled properties that are not classified as an Apartment. Historical inventories have been adjusted to best reflect the adjustments made to the data. TOTAL MLS Changed to CREB Total Residential and excludes the following: Excludes: Rural Land, Country Recreational (CREC), The exclusions applied to the data results in roughly 4 5 less sales per year. Historical inventories have been revised to best reflect the adjustments made to the data, while Mobile Homes, Rural Land and CREC inventories could be pulled out of the total MLS inventory data. No adjustments could be made for Vacant Lots, Time Shares and Parking Stalls, indicating historic figures could be slightly overstated compared to current numbers. ABOUT CREB CREB is a professional body of more than 5,1 licensed brokers and registered associates, representing 245 member offices. CREB is dedicated to enhancing the value, integrity and expertise of its REALTOR members. Our REALTORS are committed to a high standard of professional conduct, ongoing education, and a strict Code of Ethics and standards of business practice. For Calgary Metro, CREB statistics include only Zone A, B, C and D for properties located in Calgary. Furthermore, all historical data has been adjusted to the most current information. Any use or reference to CREB data and statistics must acknowledge CREB as the source. The board does not generate statistics or analysis of any individual member or company s market share. All MLS active listings for Calgary and area may be found on the board s website at CREB is a registered trademark of the Calgary Real Estate Board Cooperative. The trademarks MLS and Multiple Listing Service are owned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR and REALTORS are controlled by CREA and identify real estate professionals who are members of CREA, and subsequently the Alberta Real Estate Association and CREB, used under licence. CREB Calgary Regional Housing Market Statistics Page 2