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
627 Lake Linnet Cr Se, Calgary
  • Detached
  • 4 Beds
  • 2 Baths
  • 1,301 SqFt

627 Lake Linnet Cr Se, Calgary

$609,900
New
1540 Acadia Dr Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,445 SqFt

1540 Acadia Dr Se, Calgary

$598,000
New
216 Lake Acadia Gr Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,201 SqFt

216 Lake Acadia Gr Se, Calgary

$619,900
New
#2708 11811 Lake Fraser Dr Se, Calgary
  • Apartment
  • 1 Beds
  • 1 Baths
  • 575 SqFt

#2708 11811 Lake Fraser Dr Se, Calgary

$172,500
New
#5504 11811 Lake Fraser Dr Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 884 SqFt

#5504 11811 Lake Fraser Dr Se, Calgary

$234,900
New
13135 Bonaventure Dr Se, Calgary
  • Detached
  • 3 Beds
  • 3 Baths
  • 1,724 SqFt

13135 Bonaventure Dr Se, Calgary

$632,987
New
927 Lake Christina Wy Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,205 SqFt

927 Lake Christina Wy Se, Calgary

$679,900
New
974 Lake Placid Dr Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 2,119 SqFt

974 Lake Placid Dr Se, Calgary

$799,500
2211 Lake Fraser Gr Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 948 SqFt

2211 Lake Fraser Gr Se, Calgary

$289,900
New
2210 Lake Fraser Co Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 1,420 SqFt

2210 Lake Fraser Co Se, Calgary

$449,900
New
508 Lake Erie Gr Se, Calgary
  • Detached
  • 5 Beds
  • 4 Baths
  • 2,425 SqFt

508 Lake Erie Gr Se, Calgary

$1,425,000
#1311 11811 Lake Fraser Dr Se, Calgary
  • Apartment
  • 1 Beds
  • 1 Baths
  • 581 SqFt

#1311 11811 Lake Fraser Dr Se, Calgary

$162,500
704 Lake Lucerne Dr Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,489 SqFt

704 Lake Lucerne Dr Se, Calgary

$779,000
1579 Lake Bonavista Dr Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,579 SqFt

1579 Lake Bonavista Dr Se, Calgary

$739,900
927 Lake Placid Dr Se, Calgary
  • Detached
  • 5 Beds
  • 5 Baths
  • 3,516 SqFt

927 Lake Placid Dr Se, Calgary

$2,899,900
1302 Lake Fraser Gr Se, Calgary
  • Rental
  • 1 Beds
  • 2 Baths
  • 1,114 SqFt

1302 Lake Fraser Gr Se, Calgary

$1,550
987 Lake Arrow Wy Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,455 SqFt

987 Lake Arrow Wy Se, Calgary

$799,900
156 Lake Linnet Cl Se, Calgary
  • Detached
  • 5 Beds
  • 5 Baths
  • 2,473 SqFt

156 Lake Linnet Cl Se, Calgary

$1,629,000
12335 Lake Moraine Ri Se, Calgary
  • Detached
  • 4 Beds
  • 4 Baths
  • 1,870 SqFt

12335 Lake Moraine Ri Se, Calgary

$680,000
#4617 11811 Lake Fraser Dr Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 1,085 SqFt

#4617 11811 Lake Fraser Dr Se, Calgary

$299,900
1152 Lake Bonavista Dr Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,749 SqFt

1152 Lake Bonavista Dr Se, Calgary

$625,000
8 Lake Wapta Ri Se, Calgary
  • Detached
  • 3 Beds
  • 3 Baths
  • 1,513 SqFt

8 Lake Wapta Ri Se, Calgary

$829,000
1410 Lake Fraser Gr Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 1,253 SqFt

1410 Lake Fraser Gr Se, Calgary

$339,900 ↓ $9,900
12201 Lake Erie Rd Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,937 SqFt

12201 Lake Erie Rd Se, Calgary

$1,274,000
Enhanced
79 Lake Sundance Pl Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,742 SqFt

79 Lake Sundance Pl Se, Calgary

$575,000
728 Lake Ontario Dr Se, Calgary
  • Detached
  • 5 Beds
  • 4 Baths
  • 1,861 SqFt

728 Lake Ontario Dr Se, Calgary

$775,000 ↓ $43,000
384 Lake Bonavista Dr Se, Calgary
  • Detached
  • 4 Beds
  • 4 Baths
  • 1,869 SqFt

384 Lake Bonavista Dr Se, Calgary

$599,900

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