November 2019 Calgary Real Estate Board Market Statistics Update

Posted by Jeff Mikolajow on Monday, December 2nd, 2019 at 12:38pm

What's going on in the Calgary real estate market? Which areas and price points are experiencing recovery? Some Calgary neighbourhoods have low inventory and higher sales - what does this mean for buyers? If you're considering selling your home, reach out so we can chat about the best strategies to get your home sold so you can achieve your goals.

Want to learn more about upcoming listings or what homes are selling for in Lake Bonavista

Calgary RE/MAX November 2019 Statistics

FROM CREB®: Year-to-date residential sales in the city remain just above last year’s levels due to improvements in the attached sector so far this year.

However, November sales activity eased over last year’s levels, mostly due to pullbacks in the apartment sector.

Meanwhile, new listings eased enough relative to sales to cause inventories to ease and the amount of oversupply to come down slightly compared to last year’s levels.

“Achieving more stable conditions will take time. Sales activity has been settling in at lower levels and is likely being influenced by the economic conditions and uncertainty weighing on our market,” said CREB® chief economist Ann-Marie Lurie.

“While the amount of supply in the market continues to ease, the persistent oversupply continues to weigh on prices.”

As of November, the citywide unadjusted benchmark price was $419,100. This is just below last month’s levels and two per cent lower than last year’s levels.

Market conditions continue to vary depending on price, location and product type. For example, prices have ranged from a year-to-date decline of nearly eight per cent for row product in the East district to a two per cent increase for semi-detached product in the North district.

Larger price declines are often caused by high supply in the new-home and resale markets relative to demand.

CALGARY HOUSING MARKET FACTS

  • Detached sales improved in November over last year’s levels, mostly due to growth in the $400,000 – $500,000 range. However, sales in November and overall activity remain low by historical standards.
  • Despite some recent gains in sales activity, year-to-date sales remain comparable to last year’s levels and 20 per cent below longer-term trends. However, detached sales have improved in both the North West and South districts this year.
  • Improving sales, combined with further declines in new listings, helped reduce inventories in this sector compared to levels recorded last year. However, supply levels remained elevated based on seasonal comparisons.
  • Like some of the other sectors, the detached market is slowly moving toward more balanced conditions. However, it is still oversupplied, and this trend continues to weigh on prices.
  • The detached unadjusted benchmark price was $481,500 in November, slightly lower than last month’s levels and two per cent below last year’s prices.

Looking for more statistics about attached, Calgary condominiums or any of the areas around Calgary that we also service - Airdrie, Cochrane, Okotoks, Langdon? Contact us today and we'll happily bring you up to speed.

New
172 Lake Wapta Rise Se, Calgary
  • Residential
  • 4 Beds
  • 3 Baths
  • 1,274 SqFt

172 Lake Wapta Rise Se, Calgary

$529,000
New
1503, 11811 Lake Fraser Drive Se, Calgary
  • Residential
  • 2 Beds
  • 2 Baths
  • 877 SqFt

1503, 11811 Lake Fraser Drive Se, Calgary

$267,777
New
1411 Lake Fraser Court Se, Calgary
  • Residential
  • 2 Beds
  • 2 Baths
  • 1,545 SqFt

1411 Lake Fraser Court Se, Calgary

$559,000
New
2607, 11811 Lake Fraser Drive Se, Calgary
  • Residential
  • 2 Beds
  • 1 Bath
  • 751 SqFt

2607, 11811 Lake Fraser Drive Se, Calgary

$215,000
New
360 Lake Bonavista Drive Se, Calgary
  • Residential
  • 4 Beds
  • 3 Baths
  • 1,946 SqFt

360 Lake Bonavista Drive Se, Calgary

$585,900
1072 Acadia Drive Se, Calgary
  • Residential
  • 5 Beds
  • 3 Baths
  • 1,338 SqFt

1072 Acadia Drive Se, Calgary

$695,000 ↓ $24,000
New
216 Lake Bonavista Drive Se, Calgary
  • Residential
  • 5 Beds
  • 3 Baths
  • 1,468 SqFt

216 Lake Bonavista Drive Se, Calgary

$885,000
13132 Lake Crimson Drive Se, Calgary
  • Residential
  • 4 Beds
  • 3 Baths
  • 1,730 SqFt

13132 Lake Crimson Drive Se, Calgary

$764,900
1140 120 Avenue Se, Calgary
  • Residential
  • 5 Beds
  • 3 Baths
  • 1,360 SqFt

1140 120 Avenue Se, Calgary

$799,888 ↓ $12
84 Lake Emerald Road Se, Calgary
  • Residential
  • 4 Beds
  • 3 Baths
  • 1,204 SqFt

84 Lake Emerald Road Se, Calgary

$574,900
1536 Lake Bonavista Drive Se, Calgary
  • Residential
  • 5 Beds
  • 3 Baths
  • 1,255 SqFt

1536 Lake Bonavista Drive Se, Calgary

$635,000 ↓ $14,900
740 Lake Ontario Drive Se, Calgary
  • Residential
  • 4 Beds
  • 3 Baths
  • 1,766 SqFt

740 Lake Ontario Drive Se, Calgary

$699,900
103 Lake Mead Place Se, Calgary
  • Residential
  • 5 Beds
  • 3 Baths
  • 1,779 SqFt

103 Lake Mead Place Se, Calgary

$1,279,999 ↓ $5,000
20 Lake Simcoe Green Se, Calgary
  • Residential
  • 5 Beds
  • 5 Baths
  • 4,326 SqFt

20 Lake Simcoe Green Se, Calgary

$1,875,000 ↓ $50,000
4314, 11811 Lake Fraser Drive Se, Calgary
  • Residential
  • 1 Bed
  • 1 Bath
  • 593 SqFt

4314, 11811 Lake Fraser Drive Se, Calgary

$158,900 ↓ $1,000
2307 Lake Bonavista Drive Se, Calgary
  • Residential
  • 4 Beds
  • 3 Baths
  • 1,345 SqFt

2307 Lake Bonavista Drive Se, Calgary

$569,000
12 Lake Emerald Road Se, Calgary
  • Residential
  • 5 Beds
  • 3 Baths
  • 1,520 SqFt

12 Lake Emerald Road Se, Calgary

$585,000 ↓ $14,000
3304, 11811 Lake Fraser Drive Se, Calgary
  • Residential
  • 2 Beds
  • 2 Baths
  • 882 SqFt

3304, 11811 Lake Fraser Drive Se, Calgary

$269,900 ↓ $10,000
100 Lake Emerald Road Se, Calgary
  • Residential
  • 5 Beds
  • 3 Baths
  • 1,369 SqFt

100 Lake Emerald Road Se, Calgary

$789,900 ↓ $10,000

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