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
13245 Bonaventure Dr Se, Calgary
  • Detached
  • 2 Beds
  • 3 Baths
  • 1,873 SqFt

13245 Bonaventure Dr Se, Calgary

$634,800
New
12215 Lake Erie Wy Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 2,573 SqFt

12215 Lake Erie Wy Se, Calgary

$1,050,000
New
13015 Lake Twintree Rd Se, Calgary
  • Detached
  • 4 Beds
  • 4 Baths
  • 2,037 SqFt

13015 Lake Twintree Rd Se, Calgary

$675,000
New
2311 Lake Fraser Gr Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 948 SqFt

2311 Lake Fraser Gr Se, Calgary

$289,900
New
932 Lake Twintree Cr Se, Calgary
  • Detached
  • 4 Beds
  • 4 Baths
  • 1,453 SqFt

932 Lake Twintree Cr Se, Calgary

$885,000
627 Lake Linnet Cr Se, Calgary
  • Detached
  • 4 Beds
  • 2 Baths
  • 1,301 SqFt

627 Lake Linnet Cr Se, Calgary

$615,000
140 Lake Lucerne Cr Se, Calgary
  • Detached
  • 4 Beds
  • 4 Baths
  • 1,991 SqFt

140 Lake Lucerne Cr Se, Calgary

$969,000
911 Lake Emerald Pl Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,283 SqFt

911 Lake Emerald Pl Se, Calgary

$699,900
#6610 11811 Lake Fraser Dr Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 1,321 SqFt

#6610 11811 Lake Fraser Dr Se, Calgary

$400,000
#1209 11811 Lake Fraser Dr Se, Calgary
  • Apartment
  • 1 Beds
  • 1 Baths
  • 601 SqFt

#1209 11811 Lake Fraser Dr Se, Calgary

$179,900
3105 Lake Fraser Gr Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 1,255 SqFt

3105 Lake Fraser Gr Se, Calgary

$389,900
12532 Lake Fraser Wy Se, Calgary
  • Detached
  • 4 Beds
  • 2 Baths
  • 1,322 SqFt

12532 Lake Fraser Wy Se, Calgary

$599,900
780 Lake Twintree Cr Se, Calgary
  • Detached
  • 3 Beds
  • 4 Baths
  • 1,439 SqFt

780 Lake Twintree Cr Se, Calgary

$599,000
1448 Lake Michigan Cr Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,153 SqFt

1448 Lake Michigan Cr Se, Calgary

$439,900
2211 Lake Fraser Gr Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 948 SqFt

2211 Lake Fraser Gr Se, Calgary

$324,900
#4314 11811 Lake Fraser Dr Se, Calgary
  • Apartment
  • 1 Beds
  • 1 Baths
  • 597 SqFt

#4314 11811 Lake Fraser Dr Se, Calgary

$179,000
704 Lake Lucerne Dr Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,489 SqFt

704 Lake Lucerne Dr Se, Calgary

$799,900
51 Lake Geneva Pl Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,375 SqFt

51 Lake Geneva Pl Se, Calgary

$799,900 ↓ $40,000
1007 Lake Arrow Wy Se, Calgary
  • Detached
  • 4 Beds
  • 4 Baths
  • 1,827 SqFt

1007 Lake Arrow Wy Se, Calgary

$750,000
1472 Lake Michigan Cr Se, Calgary
  • Detached
  • 3 Beds
  • 2 Baths
  • 1,180 SqFt

1472 Lake Michigan Cr Se, Calgary

$474,900 ↓ $20,100
2307 Lake Bonavista Dr Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,345 SqFt

2307 Lake Bonavista Dr Se, Calgary

$569,000
740 Lake Ontario Dr Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,766 SqFt

740 Lake Ontario Dr Se, Calgary

$729,900 ↓ $20,000
#6609 11811 Lake Fraser Dr Se, Calgary
  • Apartment
  • 2 Beds
  • 1 Baths
  • 748 SqFt

#6609 11811 Lake Fraser Dr Se, Calgary

$239,900
120 Lake Bonavista Dr Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,195 SqFt

120 Lake Bonavista Dr Se, Calgary

$579,500 ↓ $19,500
13127 Lake Arrow Rd Se, Calgary
  • Detached
  • 4 Beds
  • 2 Baths
  • 1,756 SqFt

13127 Lake Arrow Rd Se, Calgary

$544,999 ↓ $20,000
13003 Bonaventure Dr Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,616 SqFt

13003 Bonaventure Dr Se, Calgary

$679,900 ↓ $10,000
#5504 11811 Lake Fraser Dr Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 884 SqFt

#5504 11811 Lake Fraser Dr Se, Calgary

$234,900

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