December 2012 Monthly Calgary Housing Statistics
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Transcript of December 2012 Monthly Calgary Housing Statistics
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7/29/2019 December 2012 Monthly Calgary Housing Statistics
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CALGARY REGIONAL HOUSING MARKET STATISTICS 12.12
CALGARY RESALE MARKET REACHING NORMAL2012 saw end to four years of weaker sales activity
Residential real estate sales in the city
of Calgary ended the year on a high note, with sales volume
up 15 per cent in 2012 compared to 2011, and benchmarkprices up five per cent.
Calgarys housing market has finally started to recover, said
Ann-Marie Lurie, CREBs chief economist. While prices
remain shy of the highs recorded in 2007, this is a move in theright direction.
Much of the sustainable recovery is fueled from the growth in
the energy sector, spilling over into all aspects of oureconomy, including housing, said Lurie. There is no question
employment and migration growth has supported housing
demand, a trend that is expected to continue this year, albeitat a slower pace.
The single family market sales growth outpaced increases inthe total condominium market within city limits. Single family
sales rose by 15 per cent in 2012 compared to 2011. New
listings did not keep pace, declining by seven per cent overthe same period. This has significantly reduced the inventory
of single family homes in the market, pushing prices up.
Consumers in the market were looking for value and, if a
home was priced right based on a longer term view of their
CITY OF CALGARY TOTAL SALES
CALGARY ANNUAL PRICES
pa
Consumers in the market were looking for value and, if a
home was priced right based on a longer term view of their
housing needs, they were buying, said 2012 CREB President
Bob Jablonski.
The price spread is expected to narrow as balanced market
conditions support further price growth, he said. But in most
communities, prices remain lower than 2007 levels.
The unadjusted single family benchmark price was $434,800for the month of December, 8.7-per-cent higher than 2011. On
average, single family prices are up by seven per cent for the
year, and remain two per cent below peak pricing in 2007.
Condominium sales are improving, as lower supply levels and
rising prices in the single family market drove consumers to
explore alternatives. Sales in the apartment and townhousesector recorded annual increases of 12 and 16 per cent,
respectively. Meanwhile, listings are declining in both sectors,
keeping both markets in balanced conditions. Price growthhas not been at the same pace as what was recorded in the
single family sector.
Condominium apartment benchmark prices totaled 248,700 in
December, a 5.4 per cent increase over 2011. Annual average
benchmark increases were two per cent, significantly lower
than the five per cent increase in the annual average price.
The average price increase is misleading, as therewere several multimillion-dollar condominium sales
in 2012 that skewed figures up. With more sales
occurring at the higher end of the spectrum,average and median prices are trending higher
than the benchmark, which represents price
growth for the same type of property.Calgarys 2013 housing sector growth will ease
both in terms of sales and price growth, differing
from the declines expected on a national level,
said Lurie.
Calgarys housing market did not recover at the
same pace as other Canadian centres and 2012 wasthe first time resale sales returned to more normal
levels of activity, she said.
It is expected that continued weakness in thenatural gas sector, combined with the more
cautious expansion approach in the oil sector, willpersist this year. While economic activity will be
strong enough to support moderate housing
growth, the notion of an overheated housing
market in 2013 is unlikely, given the economic
backdrop.
CREB Calgary Regional Housing Market Statistics pa
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Dec-11 Dec-12
Dec-11 Dec-12 Y/Y % 2011 2012 Y/Y %
CREB TOTAL RESIDENTIAL
Total Sales 1,289 1,370 6.28% 22,898 27,212 18.84%
Total Sales Volume $528,745,625 $588,618,169 11.32% $9,542,133,433 $11,604,473,474 21.61%
New Listings 1,501 1,302 -13.26% 45,612 44,079 -3.36%
Active Listings 6,613 5,167 -21.87% N/A N/A
Sales to New Listings Ratio 0.86 1.05 22.53% 0.50 0.62 22.97%
Sales $ / List $ 96.17% 96.54% 0.36% 96.68% 97.12% 0.44%
Average DOM 67 64 -3.76% 58 53 -8.62%
Average Price $410,198 $429,648 4.74% $416,723 $426,447 2.33%
Benchmark Price $357,100 $383,400 7.36%
Index 168 181 7.37%
CREB CITY OF CALGARY
Total Sales 1,025 1,083 5.66% 18,496 21,207 14.66%
Total Sales Volume $412,219,504 $473,037,398 14.75% $7,664,579,045 $9,090,476,165 18.60%
New Listings 1,076 882 -18.03% 34,068 31,847 -6.52%
Active Listings 3,989 2,722 -31.76% N/A N/A
Sales to New Listings Ratio 0.95 1.23 28.90% 0.54 0.67 22.65%
Sales $ / List $ 96.43% 96.78% 0.35% 96.86% 97.32% 0.45%
Average DOM 60 54 -9.37% 48 45 -6.25%
Average Price $402,165 $436,784 8.61% $414,391 $428,655 3.44%
Benchmark Price $362,200 $390,100 7.70%Index 169 182 7.70%
CREB TOWNS
Total Sales 186 175 -5.91% 3,293 3,970 20.56%
Total Sales Volume $65,281,779 $59,157,394 -9.38% $1,156,196,540 $1,383,881,210 19.69%
New Listings 271 220 -18.82% 7,378 6,883 -6.71%
Active Listings 1,653 1,134 -31.40% N/A N/A
Sales to New Listings Ratio 0.69 0.80 15.90% 0.45 0.58 29.23%
Sales $ / List $ 96.37% 96.69% 0.32% 96.89% 97.19% 0.30%
Average DOM 81 89 9.17% 81 78 -3.70%
Average Price $350,977 $338,042 -3.69% $351,107 $348,585 -0.72%
Benchmark Price $311,000 $327,000 5.14%
Index 164 172 5.13%
CREB CRES
Total Sales 47 36 -23.40% 676 873 29.14%Total Sales Volume $38,947,042 $25,739,800 -33.91% $552,058,735 $692,337,706 25.41%
New Listings 98 72 -26.53% 2,589 2,633 1.70%
Active Listings 683 674 -1.32% N/A N/A
Sales to New Listings Ratio 0.48 0.50 4.26% 0.26 0.33 26.98%
Sales $ / List $ 93.33% 91.88% -1.45% 94.06% 94.81% 0.75%
Average DOM 105 108 3.08% 103 108 4.85%
Average Price $828,660 $714,994 -13.72% $816,655 $793,056 -2.89%
Median Price $785,000 $637,000 -18.85%
For a list of definitions, see page 20.
CREB - SUMMARY STATS
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CREB SUMMARY STATISTICS CITY OF CALGARY
Dec-11 Dec-12
Dec-11 Dec-12 Y/Y % 2011 2012 Y/Y %
SINGLE FAMILY
Total Sales 717 745 3.91% 13,120 15,109 15.16%
Total Sales Volume $326,229,481 $369,993,837 13.42% $6,120,564,590 $7,271,000,704 18.80%
New Listings 753 626 -16.87% 24,055 22,396 -6.90%
Active Listings 2,705 1,859 -31.28% N/A N/A
Sales to New Listings Ratio 0.95 1.19 24.98% 0.55 0.67 23.69%
Sales $ / List $ 96.49% 96.84% 0.36% 96.92% 97.38% 0.47%
Average DOM 58 51 -11.87% 46 42 -8.70%
Average Price $454,992 $496,636 9.15% $466,506 $481,236 3.16%
Benchmark Price $399,900 $434,800 8.73%
Index 170 185 8.72%
CONDO APARTMENT
Total Sales 183 219 19.67% 3,139 3,501 11.53%
Total Sales Volume $49,421,489 $66,668,145 34.90% $852,356,955 $996,743,041 16.94%
New Listings 199 143 -28.14% 5,982 5,711 -4.53%
Active Listings 805 553 -31.30% N/A N/A
Sales to New Listings Ratio 0.92 1.53 66.54% 0.52 0.61 16.82%
Sales $ / List $ 95.82% 96.41% 0.59% 96.36% 96.79% 0.43%
Average DOM 67 67 0.52% 54 54 0.00%
Average Price $270,063 $304,421 12.72% $271,538 $284,702 4.85%
Benchmark Price $236,000 $248,700 5.38%Index 165 174 5.40%
CONDO TOWNHOUSE
Total Sales 125 119 -4.80% 2,237 2,597 16.09%
Total Sales Volume $36,568,534 $36,375,416 -0.53% $691,657,500 $822,732,420 18.95%
New Listings 124 113 -8.87% 4,031 3,740 -7.22%
Active Listings 479 310 -35.28% N/A N/A
Sales to New Listings Ratio 1.01 1.05 4.47% 0.55 0.69 25.13%
Sales $ / List $ 96.75% 96.82% 0.07% 97.01% 97.36% 0.36%
Average DOM 61 51 -16.83% 53 48 -9.43%
Average Price $292,548 $305,676 4.49% $309,190 $316,801 2.46%
Benchmark Price $272,700 $284,100 4.18%
Index 170 178 4.17%
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MLS HPI SUMMARY
Benchmark Price Index (HPI) Nov-12 Jun-12 Dec-11 Dec-09 Dec-07
CREB TOTAL RESIDENTIAL
Single Family 421,400 183 0.2% 0.8% 8.2% 7.5% 0.9%
Townhouse 282,500 178 0.5% 2.3% 4.1% 1.7% -9.1%
Apartment 247,700 173 0.2% 0.9% 5.3% 1.2% -11.1%
COMPOSITE 383,400 181 0.2% 1.0% 7.4% 5.9% -2.2%
CREB TOWNS
Single Family 333,100 172 -0.8% 0.3% 5.3% 4.1% -5.7%
Townhouse 224,200 181 0.7% 4.7% 4.0% 1.9% -13.2%
Apartment 185,900 160 -2.0% -0.7% -1.0% -1.4% -19.1%
COMPOSITE 327,000 172 -0.8% 0.5% 5.1% 3.7% -6.5%
CREB CITY OF CALGARY
Single Family 434,800 185 0.3% 0.9% 8.7% 8.1% 2.1%
Townhouse 284,100 178 0.5% 2.2% 4.2% 1.8% -8.9%
Apartment 248,700 174 0.3% 1.0% 5.4% 1.2% -10.9%
COMPOSITE 390,100 182 0.3% 1.1% 7.7% 6.2% -1.6%
% ChangesDecember 2012
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COMPARISONS
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
1 storey 2 Storey Total SF Townhouse Apartment Total Composite
Benchmark Price - December
CREB Total Residential CREB City of Calgary CREB Towns Source: CREB
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
Months of Supply - December
68.54% 68.79%82.29%
11.02% 10.99%
9.14%17.81% 20.22%8.57%
2.63%
20%
40%
60%
80%
100%
120%
Sales Distribution - December
-
2.0
4.0
Months of Supply SF Months of SupplyTownhouse
Months of SupplyApartment
CREB Total Residential CREB City of Calgary
CREB Towns Source: CREB
68.54% 68.79%82.29%
0%
20%
CREB TotalResidential
CREB City ofCalgary
CREB Towns
Single Family Townhouse Apartment CRES Source: CREB
150155
160
165
170
175
180
185
190
195
200
CALGARY INDEX VALUE
Index Value Single Family Index Value Tonwhouse
Index Value Apartment Source: CREB
-20%
-15%
-10%
-5%
0%
5%
10%
15%
CALGARY INDEX YEAR OVER YEAR COMPARISON
SF Y/Y Index Price Change
Apartment Y/Y Index Price Change
Townhouse Y/Y Price Change Source: CREB
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CITY OF CALGARY
0
5,000
10,000
15,000
20,000
25,000
30,000 ANNUAL
CALGARY YTD TOTAL SALES
SF Sales Apartment SalesTH Sales 10 Year Average Source: CREB
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000ANNUAL
CALGARY YTD TOTAL NEW LISTINGS
SF New Listings Apartment New ListingsTH New Listings 10 Year Average Source: CREB
50 000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
1,000
2,000
3,000
4,000
5,000
6,000
7,000
CALGARY INVENTORY AND SALES
1
2
3
4
5
6
7
89
CALGARY MONTHS OF INVENTORY
BALANCED
-
50,000
100,000
-
1,000
Inventory Sales Benchmark PriceSource: CREB
-
1
Months of Supply 3 month MA Source: CREB
-20%
-15%
-10%
-5%
0%
5%
10%
15%
CALGARY PRICE CHANGE COMPARISON
Average Price Y/Y% Change Y/Y Median Price Change
Index Y/Y% Change Source: CREB
320,000
340,000
360,000
380,000
400,000
420,000
440,000
460,000
CALGARY PRICES
Average Price Median PriceBenchmark Price Source: CREB
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CITY OF CALGARY SINGLE FAMILY
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000 ANNUAL
CALGARY YTD SINGLE FAMILY SALES
SF Sales 10 Year Average Source: CREB
0
5,000
10,000
15,00020,000
25,000
30,000
35,000ANNUAL
CALGARY YTD SINGLE FAMILY NEW LISTINGS
SF New Listings 10 Year Average Source: CREB
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
CALGARY SINGLE FAMILY INVENTORY AND SALES
2
3
4
5
6
7
8
9
CALGARY SINGLE FAMILY MONTHS OF INVENTORY
BALANCED
-
50,000
100,000
-
500
1,000
SF Inventory SF Sales SF Benchmark Price Source: CREB
-
1
2
SF Months of Supply 3 month MA Source: CREB
-15%
-10%
-5%
0%
5%
10%
15%
CALGARY SINGLE FAMILY PRICE CHANGE COMPARISON
SF Average Price Y/Y% Change SF Median Price Change
Index Y/Y% Change Source: CREB
350,000
370,000
390,000
410,000
430,000
450,000
470,000
490,000
510,000
CALGARY SINGLE FAMILY PRICES
SF Average Price SF Median PriceSF Benchmark Price Source: CREB
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CITY OF CALGARY CONDOMINIUM TOWNHOUSE
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000ANNUAL
CALGARY YTD TOWNHOUSE SALES
Townhouse Sales 10 Year Average Source: CREB
-
1,000
2,000
3,000
4,000
5,000
6,000 ANNUAL
CALGARY YTD TOWNHOUSE NEW LISTINGS
Townhouse New Listings 10 Year Average Source: CREB
50,000
100,000
150,000
200,000
250,000
300,000
100
200
300
400
500
600
700
800
CALGARY TOWNHOUSE INVENTORY AND SALES
2
3
4
5
6
7
8
9
CALGARY TOWNHOUSE MONTHS OF INVENTORY
BALANCED
-
50,000
-
100
TH Inventory TH Sales TH Benchmark Price Source: CREB
-
1
2
TH Months of Supply 3 month MA Source: CREB
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
CALGARY TOWNHOUSE PRICE CHANGE COMPARISON
TH Average Price Y/Y % Change TH Median Price Change
Index Y/Y% Change Source: CREB
220,000
240,000
260,000
280,000
300,000
320,000
340,000
CALGARY TOWNHOUSE PRICES
TH Average Price Median PriceTH Benchmark Price Source: CREB
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CITY OF CALGARY CONDOMINIUM APARTMENTS
0
500
1,000
1,500
2,000
2,5003,000
3,500
4,000
4,500
5,000ANNUAL
CALGARY YTD APARTMENT SALES
Apartment Sales 10 Year Average Source: CREB
0
1,000
2,000
3,000
4,000
5,0006,000
7,000
8,000
9,000
10,000ANNUAL
CALGARY YTD APARTMENT NEW LISTINGS
Apartment New List ings 10 Year Average Source: CREB
50,000
100,000
150,000
200,000
250,000
300,000
200
400
600
800
1,000
1,200
1,400
CALGARY APARTMENT INVENTORY AND SALES
1
2
3
4
5
6
7
8
910
CALGARY APARTMENT MONTHS OF INVENTORY
BALANCED
-
50,000
-
200
Apartment Inventory Apartment SalesApartment Benchmark Price Source: CREB
-
1
2
Apartment Months of Supply 3 month MA Source: CREB
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
CALGARY APARTMENT PRICE CHANGE COMPARISON
Apartment Average Price Y/Y% ChangeMedian Price ChangeIndex Y/Y% Change Source: CREB
200,000
220,000
240,000
260,000
280,000
300,000
320,000
CALGARY APARTMENT PRICES
Apartment Average Price Median Price Benchmark PriceSource: CREB
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CREB TOWNS
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
CREB TOWNS YTD TOTAL SALES
SF Sales Apartment SalesTH Sales 10 Year Average Source: CREB
0
1,000
2,000
3,000
4,0005,000
6,000
7,000
8,000
9,000
CREB TOWNS YTD TOTAL NEW LISTINGS
SF New Listings Apartment New ListingsTH New Listings 10 Year Average Source: CREB
50,000
100,000
150,000
200,000
250,000
300,000
350,000
500
1,000
1,500
2,000
2,500
CREB TOWNS INVENTORY AND SALES
2
4
6
8
10
12
14
16
CREB TOWNS MONTHS OF INVENTORY
BALANCED
-
50,000
-
500
Inventory Sales Benchmark Price Source: CREB
-
2
Months of Supply 3 month MA Source: CREB
-15%
-10%
-5%
0%
5%
10%
15%
20%
CREB TOWNS PRICE CHANGE COMPARISON
Average Price Y/Y% Change Median Price Change
Index Y/Y% Change Source: CREB
250,000
270,000
290,000
310,000
330,000
350,000
370,000
390,000
CREB TOWNS PRICES
Average Price Median Price
Benchmark Price Source: CREB
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CREB COUNTRY RESIDENTIAL
0
100
200
300
400
500600
700
800
900
1000
CRES YTD TOTAL SALES
CRES Sales 10 Year Average Source: CREB
0
500
1000
1500
2000
2500
3000
CRES YTD TOTAL NEW LISTINGS
CRES New Listings 10 Year Average Source: CREB
100 000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
200
400
600
800
1,000
1,200
1,400
CRES INVENTORY AND SALES
5
10
15
20
25
30
35
40
CRES MONTHS OF INVENTORY
BALANCED
0
100,000
200,000
-
200
Inventory Sales Median Price Source: CREB
-
5
Months of Supply 3 month MA Source: CREB
-40%
-20%
0%
20%
40%
60%
80%
CRES PRICE CHANGE COMPARISON
Average Price Y/Y% Change
Median Price Change
Average Price Y/Y% Change 3 month MA Source: CREB
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
CRES PRICES
Average Price Average Price 3 month MA Median PriceSource: CREB
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CREB TOTAL RESIDENTIAL
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000ANNUAL
CREB RESIDENTIAL YTD TOTAL SALES
SF Sales Apartment Sales
TH Sales CRES Source: CREB
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000ANNUAL
CREB RESIDENTIAL YTD TOTAL NEW LISTINGS
SF New Listings Apartment New Listings
TH New Listings CRES New Listings
10 Year Average Source: CREB
100,000
150,000
200,000
250,000
300,000
350,000
400,000450,000
2,000
4,000
6,000
8,000
10,000
12,000
CREB RESIDENTIAL INVENTORY AND SALES
2
4
6
8
10
12
CREB RESIDENTIAL MONTHS OF INVENTORY
BALANCED
0
50,000
100,000
-
2,000
Inventory Sales Benchmark Price Source: CREB
-20%
-15%
-10%
-5%
0%
5%
10%
15%
CREB RESIDENTIAL PRICE CHANGE COMPARISON
Average Price Y/Y Change Median Price Change
Index Y/Y% Change Source: CREB
300,000
320,000
340,000
360,000
380,000
400,000
420,000
440,000
460,000
CREB RESIDENTIAL PRICES
Average Price Median Price Benchmark PriceSource: CREB
-
2
Months of Supply 3 month MA Source: CREB
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DEFINITIONS
SF - Single Family LP - List Price
TH - Condominium Townhouse Sales $ / List $ - sales price to list price ration
Months of Supply - Active Listings (Inventory) / sales CRES - Country residential properties
Composite - includes single family, apartment and townhouse activity YTD - Year to Date
Average DOM - Average Days on Market for Sold properties 3 month MA - 3 month Moving Average
SP Sales Price
Benchmark Price Price of the typical home, based on the value consumers assign to various attributes
MLSHome Price Index changes in home prices by comparing price levels at a point in time with price levels in a base (reference) period.
HOW THESE STATISTICS ARE CALCULATED
In order to align our data with the MLS Home Price Index (HPI), we made several changes to the data that we report, as well as the
monthly statistics.
The new package provides more information and data exclusions provide a better residential picture. All the data provided throughthe monthly statistics package as of March 2012, reflect these adjustments. Please note, historical PDF packages do not include thechanges.A summary of these changes is available below:
MONTHLY STATISTICS PACKAGE
We now provide monthly statistics for: CREB Total Residential, CREB Towns, CREB Country Residential (CRES), City of Calgary,City of Calgary Single Family, City of Calgary Apartment, City of Calgary Townhouse.
Median prices have been removed and replaced with the benchmark price and the index.
MLS HPI Summary was added. Several trending graphs and summary stats were added for each category
All categories exclude: vacant lots, time shares, parking stalls and mobile homes on leased land.
CITY OF CALGARY
Includes sales in Zones A, B, C, D only. Condominium Apartment includes all Condominium title properties that are classified by type as either a low-rise or high-rise
apartment.
Condominium Townhouse include all Condominium titled properties that are not classified as an Apartment. Historical inventories have been adjusted to best reflect the adjustments made to the data.
ABOUT CREB
Condominium Townhouse include all Condominium titled properties that are not classified as an Apartment. Historical inventories have been adjusted to best reflect the adjustments made to the data.
TOTAL MLS
Changed to CREB Total Residential and excludes the following:
Excludes: Rural Land, Country Recreational (CREC), The exclusions applied to the data results in roughly 400 500 less sales per year. Historical inventories have been revised to best reflect the adjustments made to the data, while Mobile Homes, Rural Land and
CREB is a professional body of more than 5,100 licensed brokers and registered associates, representing 245 member offices. CREBis dedicated to enhancing the value, integrity and expertise of its REALTOR members. Our REALTORS are committed to a highstandard of professional conduct, ongoing education, and a strict Code of Ethics and standards of business practice.
For Calgary Metro, CREB statistics include only Zone A, B, C and D for properties located in Calgary. Furthermore, all historical datahas been adjusted to the most current information.
Any use or reference to CREB data and statistics must acknowledge CREB as the source. The board does not generate statistics oranalysis of any individual member or companys market share. All MLS active listings for Calgary and area may be found on theboards website at www.creb.com.
CREB is a registered trademark of the Calgary Real Estate Board Cooperative. The trademarks MLS and Multiple Listing Service areowned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals whoare members of CREA. The trademarks REALTOR and REALTORS are controlled by CREA and identify real estate professionalswho are members of CREA, and subsequently the Alberta Real Estate Association and CREB, used under licence.