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
147 Lake Tahoe Gr Se, Calgary
  • Detached
  • 4 Beds
  • 5 Baths
  • 2,889 SqFt

147 Lake Tahoe Gr Se, Calgary

$1,350,000
New
987 Lake Arrow Wy Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,455 SqFt

987 Lake Arrow Wy Se, Calgary

$859,900
3202 Lake Fraser Co Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 1,204 SqFt

3202 Lake Fraser Co Se, Calgary

$343,988
1088 Lake Placid Dr Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 2,018 SqFt

1088 Lake Placid Dr Se, Calgary

$839,900
323 129 Av Se, Calgary
  • Detached
  • 4 Beds
  • 4 Baths
  • 2,052 SqFt

323 129 Av Se, Calgary

$1,349,000 ↑ $1,214,100
1120 Lake Wapta Rd Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,319 SqFt

1120 Lake Wapta Rd Se, Calgary

$850,000
2016 Lake Bonavista Dr Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,951 SqFt

2016 Lake Bonavista Dr Se, Calgary

$849,000
281 Lake Lucerne Wy Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,517 SqFt

281 Lake Lucerne Wy Se, Calgary

$864,900 ↓ $10,000
1117 Lake Fraser Gr Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 1,248 SqFt

1117 Lake Fraser Gr Se, Calgary

$365,000 ↓ $23,000
90 Lake Christina Cl Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,466 SqFt

90 Lake Christina Cl Se, Calgary

$938,000
208 Lake Erie Pl Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,811 SqFt

208 Lake Erie Pl Se, Calgary

$788,888 ↓ $19,912
44 Lake Twintree Pl Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 2,044 SqFt

44 Lake Twintree Pl Se, Calgary

$734,900 ↓ $15,000
40 Lake Huron Pl Se, Calgary
  • Detached
  • 4 Beds
  • 2 Baths
  • 948 SqFt

40 Lake Huron Pl Se, Calgary

$479,900 ↓ $20,100
1579 Lake Bonavista Dr Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,579 SqFt

1579 Lake Bonavista Dr Se, Calgary

$775,000
#5609 11811 Lake Fraser Dr Se, Calgary
  • Apartment
  • 2 Beds
  • 1 Baths
  • 737 SqFt

#5609 11811 Lake Fraser Dr Se, Calgary

$225,000
#4501 11811 Lake Fraser Dr Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 1,001 SqFt

#4501 11811 Lake Fraser Dr Se, Calgary

$295,800
#2705 11811 Lake Fraser Dr Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 893 SqFt

#2705 11811 Lake Fraser Dr Se, Calgary

$215,000 ↓ $10,000
927 Lake Christina Wy Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,205 SqFt

927 Lake Christina Wy Se, Calgary

$699,900
1280 Lake Sylvan Dr Se, Calgary
  • Detached
  • 4 Beds
  • 2 Baths
  • 954 SqFt

1280 Lake Sylvan Dr Se, Calgary

$415,000 ↓ $10,000
1252 Lake Twintree Dr Se, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,280 SqFt

1252 Lake Twintree Dr Se, Calgary

$610,000 ↓ $15,000
12207 Lake Erie Wy Se, Calgary
  • Detached
  • 4 Beds
  • 5 Baths
  • 3,419 SqFt

12207 Lake Erie Wy Se, Calgary

$1,295,000 ↓ $30,000
1127 Lake Christina Pl Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,737 SqFt

1127 Lake Christina Pl Se, Calgary

$689,900
1071 Lake Placid Dr Se, Calgary
  • Detached
  • 5 Beds
  • 4 Baths
  • 2,985 SqFt

1071 Lake Placid Dr Se, Calgary

$2,297,000
#3615 11811 Lake Fraser Dr Se, Calgary
  • Apartment
  • 2 Beds
  • 1 Baths
  • 750 SqFt

#3615 11811 Lake Fraser Dr Se, Calgary

$210,000 ↓ $5,000
1435 Lake Bonavista Dr Se, Calgary
  • Detached
  • 3 Beds
  • 3 Baths
  • 1,456 SqFt

1435 Lake Bonavista Dr Se, Calgary

$580,000 ↓ $19,000
1439 Lake Bonavista Dr Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,231 SqFt

1439 Lake Bonavista Dr Se, Calgary

$524,800 ↓ $15,000
3203 Lake Fraser Co Se, Calgary
  • Apartment
  • 2 Beds
  • 2 Baths
  • 1,410 SqFt

3203 Lake Fraser Co Se, Calgary

$409,900 ↓ $20,000

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Disclaimer: Information herein deemed reliable but not guaranteed by CREB®.

Listing information last updated on December 13th, 2019 at 2:00pm MST.

The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. The trademarks MLS®, Multiple Listing Service® and the associated logos 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. Used under license.

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