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
1210 Lake Fraser Court Se, Calgary
  • Residential
  • 2 Beds
  • 2 Baths
  • 1,067 SqFt

1210 Lake Fraser Court Se, Calgary

$329,900
New
740 Lake Ontario Drive Se, Calgary
  • Residential
  • 4 Beds
  • 3 Baths
  • 1,758 SqFt

740 Lake Ontario Drive Se, Calgary

$699,900
New
1008, 11811 Lake Fraser Drive Se, Calgary
  • Residential
  • 1 Beds
  • 1 Baths
  • 595 SqFt

1008, 11811 Lake Fraser Drive Se, Calgary

$184,900
New
3201 Lake Fraser Court Se, Calgary
  • Residential
  • 2 Beds
  • 2 Baths
  • 1,148 SqFt

3201 Lake Fraser Court Se, Calgary

$309,000
New
5609, 11811 Lake Fraser Drive Se, Calgary
  • Residential
  • 2 Beds
  • 1 Baths
  • 737 SqFt

5609, 11811 Lake Fraser Drive Se, Calgary

$222,500
New
207 Lake Ontario Place Se, Calgary
  • Residential
  • 5 Beds
  • 3 Baths
  • 1,151 SqFt

207 Lake Ontario Place Se, Calgary

$514,888
New
412 129 Avenue Se, Calgary
  • Residential
  • 6 Beds
  • 3 Baths
  • 1,806 SqFt

412 129 Avenue Se, Calgary

$767,000
New
31 Lake Twintree Place Se, Calgary
  • Residential
  • 4 Beds
  • 3 Baths
  • 1,674 SqFt

31 Lake Twintree Place Se, Calgary

$589,900
1459 Acadia Drive Se, Calgary
  • Residential
  • 5 Beds
  • 3 Baths
  • 1,323 SqFt

1459 Acadia Drive Se, Calgary

$649,000
11811 Lake Fraser Drive Se, Calgary
  • Residential
  • 1 Beds
  • 1 Baths
  • 694 SqFt

11811 Lake Fraser Drive Se, Calgary

$199,900
1704, 11811 Lake Fraser Drive Se, Calgary
  • Residential
  • 2 Beds
  • 2 Baths
  • 905 SqFt

1704, 11811 Lake Fraser Drive Se, Calgary

$299,000 ↑ $5,200
1483 Lake Michigan Crescent Se, Calgary
  • Residential
  • 5 Beds
  • 2 Baths
  • 1,156 SqFt

1483 Lake Michigan Crescent Se, Calgary

$409,000 ↓ $14,000
5612, 11811 Lake Fraser Drive Se, Calgary
  • Residential
  • 2 Beds
  • 1 Baths
  • 727 SqFt

5612, 11811 Lake Fraser Drive Se, Calgary

$233,900
12124 Lake Louise Way Se, Calgary
  • Residential
  • 5 Beds
  • 4 Baths
  • 2,569 SqFt

12124 Lake Louise Way Se, Calgary

$1,040,000
1135 Lake Sundance Crescent Se, Calgary
  • Residential
  • 5 Beds
  • 4 Baths
  • 1,814 SqFt

1135 Lake Sundance Crescent Se, Calgary

$729,900
2708, 11811 Lake Fraser Drive Se, Calgary
  • Residential
  • 1 Beds
  • 1 Baths
  • 575 SqFt

2708, 11811 Lake Fraser Drive Se, Calgary

$169,900
1107 Lake Fraser Green Se, Calgary
  • Residential
  • 1 Beds
  • 1 Baths
  • 734 SqFt

1107 Lake Fraser Green Se, Calgary

$229,000
1451 Lake Michigan Crescent Se, Calgary
  • Residential
  • 4 Beds
  • 2 Baths
  • 1,076 SqFt

1451 Lake Michigan Crescent Se, Calgary

$499,900
15 Lake Linnet Close Se, Calgary
  • Residential
  • 4 Beds
  • 3 Baths
  • 1,763 SqFt

15 Lake Linnet Close Se, Calgary

$779,900
1411 Lake Fraser Court Se, Calgary
  • Residential
  • 2 Beds
  • 2 Baths
  • 1,545 SqFt

1411 Lake Fraser Court Se, Calgary

$548,800
1116 Lake Wapta Way Se, Calgary
  • Residential
  • 4 Beds
  • 4 Baths
  • 1,521 SqFt

1116 Lake Wapta Way Se, Calgary

$815,000 ↓ $14,000
2207 Lake Fraser Court Se, Calgary
  • Residential
  • 2 Beds
  • 2 Baths
  • 1,345 SqFt

2207 Lake Fraser Court Se, Calgary

$349,900
13127 Lake Crimson Dr Se, Calgary
  • Residential
  • 5 Beds
  • 3 Baths
  • 1,267 SqFt

13127 Lake Crimson Dr Se, Calgary

$575,000
#3617, 11811 Lake Fraser Dr Se, Calgary
  • Residential
  • 2 Beds
  • 2 Baths
  • 1,098 SqFt

#3617, 11811 Lake Fraser Dr Se, Calgary

$297,500
195 Lake Arrow Gr Se, Calgary
  • Residential
  • 4 Beds
  • 3 Baths
  • 1,083 SqFt

195 Lake Arrow Gr Se, Calgary

$799,800 ↓ $50,100
#5604 11811 Lake Fraser Dr Se, Calgary
  • Residential
  • 2 Beds
  • 2 Baths
  • 881 SqFt

#5604 11811 Lake Fraser Dr Se, Calgary

$249,900 ↓ $10,000
360 Lake Bonavista Dr Se, Calgary
  • Residential
  • 4 Beds
  • 3 Baths
  • 1,947 SqFt

360 Lake Bonavista Dr Se, Calgary

$591,900 ↓ $3,000

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