Central Alberta Real Estate October 2014 Statistics

Red Deer, November 19, 2014 -Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association remained at record levels in October 2014.

Home sales numbered 454 units in October, an increase of 7.8 per cent from the same month last year. This was the best October sales figure on record and the first time that sales in the month have ever topped the 450 mark.

Sales activity in all of Alberta rose 8.9 per cent from a year earlier in October 2014.

On a year-to-date basis, Central Alberta home sales were running 11.7 per cent ahead of the first 10 months of 2013. With only two months left to go 2014 looks set to post a new annual record.

New residential listings on the Association’s MLS® System numbered 636 units in October, up 5.6 per cent from year-ago levels.

There were 2,380 active residential listings on the Association’s MLS® System at the end of October, down 5.5 per cent from levels at the end of October 2013.

There were 5.2 months of inventory at the end of October 2014, down from 6.0 months reported at the end of October 2013 and below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The dollar value of all home sales in October 2014 was $146.6 million, rising 20.0 per cent from a year earlier and a record for the month. The dollar value of home sales in all of Alberta was up 15.6 per cent from October 2013.

Sales of all types of properties totalled 476 units in October. This was up 7.0 per cent compared to October 2013. The total value of all property sales amounted to $157.8 million in October, up 16.6 per cent from a year earlier.

The Central Alberta REALTORS® Association is an MLS® listing co-operative, representing more than 560 REALTORS® located in Red Deer and throughout Central Alberta. Details and photos of all Central Alberta REALTORS® Association listings can be found on the national public web sites www.carassociation.ca, www.REALTOR.ca (residential properties) and ICX.CA (commercial and investment properties).

CREB® October 2014 Statistics

Calgary, Nov. 3, 2014 – Continued double-digit gains in the condominium apartment sector helped to fuel a 10 per cent increase in Calgary’s residential resale housing market in October. Overall sales for the month totaled 2,147 units, compared with 1,948 during the same period last year.

“Two consecutive years of relatively strong employment and population growth, combined with rising wages and low lending rates, have supported demand growth in our housing sector,” said CREB® chief economist Ann-Marie Lurie.

With a 14 per cent gain, the city’s condominium apartment sector recorded the largest year-over-year growth. It represents the sixth consecutive month that sales in this category have increased by double digits – due, in large part, to better selection of relatively affordable product. More than half of this year’s new listings have been priced below $300,000.

“Tight rental market conditions combined with low mortgage rates have supported demand growth for condominium product in Calgary,” said CREB® president Bill Kirk, noting apartment sales have also set a year-to-date record, totaling 4,202 units. “Much of this demand is coming from both first-time homebuyers and investors.”

While sales improved, year-to-date condominium apartment listings also increased by nearly 30 per cent to 6,528 units. The pace of growth has exceeded sales growth causing a rise in inventory levels.

“Rising listings relative to sales activity has caused apartment inventories to improve,” said Kirk. “This has pushed this sector into more balanced territory, reducing some upward pricing pressures and giving buyers more options.”

Meanwhile, year-over-year condominium townhouse sales growth eased to eight per cent in October compared to the same period last year. Year-to-date sales, however, are still up 19 per cent to 3,303 units. New listings have similarly kept pace, creating access to more inventory for buyers.

Much like the condominium sectors, October sales in the singlefamily market experienced healthy gains, growing by 9.7 per cent to 1,462 units compared to same period last year. Meanwhile, new listings totaled 1,871 units. Year-to-date single-family sales and new listings have totaled 15,301 and 21,890 units respectively.

As of October, only 18 per cent of new single-family listings were priced below $400,000 and only 387 remained in inventory by the end of the month.

“While buyers can still find single-family product priced under this threshold in Calgary, the selection has consistently declined over the past four years,” said Kirk. “As our market moves into more balanced conditions, there has been a notable shift in the composition of the market. Not only do condominiums represent a larger share of total activity, but product availability by price range and property type has shifted.”

Single-family, apartment and townhouse benchmark prices totaled a respective $513,500, $299,800, and $337,800 in October. While all sectors saw unadjusted monthly prices level off and growth ease, year-over-year increases remained above nine per cent across all categories due to gains achieved this past spring.

“All citywide resale segments have recorded a moderate easing of supply constraints, which should help stabilize prices as we approach the end of the calendar year,” said Lurie. “Nonetheless, consumers should be aware that market conditions can vary significantly depending on the location and property type.”

Central Alberta Real Estate September 2014 Statistics

Best September on record for Central Alberta home sales 

Red Deer, October 20, 2014 - Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association remained at very strong levels in September 2014.

Home sales numbered 503 units in September, an increase of 12.3 per cent from the same month last year. This was the best September sales figure on record and the first time that sales in the month have ever topped the 500 mark.

Sales activity in all of Alberta rose 10.3 per cent from a year earlier in September 2014.

On a year-to-date basis, Central Alberta home sales were running 12.1 per cent ahead of the first nine months of 2013 and also stood at a record for the period.

New residential listings on the Association’s MLS® System numbered 709 units in September, up 4.7 per cent from year-ago levels.

There were 2,742 active residential listings on the Association’s MLS® System at the end of September, down 6.5 per cent from levels at the end of September 2013.

There were 5.5 months of inventory at the end of September 2014, down from 6.5 months reported at the end of September 2013 and below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The dollar value of all home sales in September 2014 was $157.8 million, rising 22.2 per cent from a year earlier and a record for the month. The dollar value of home sales in all of Alberta was up 15.6 per cent from September 2013.

Sales of all types of properties totalled 524 units in September. This was up 11.5 per cent compared to September 2013. The total value of all property sales amounted to $166.1 million in September, up 19.2 per cent from a year earlier.

The Central Alberta REALTORS® Association is an MLS® listing co-operative, representing more than 560 REALTORS® located in Red Deer and throughout Central Alberta. Details and photos of all Central Alberta REALTORS® Association listings can be found on the national public web sites www.carassociation.ca, www.REALTOR.ca (residential properties) and ICX.CA (commercial and investment properties).

CREB® September 2014 Statistics

Condominium sector boosts Calgary resale housing activity
Citywide year-over-year sales growth reaches double digits

Click here to access the full monthly statistics package.

Calgary, Oct. 1, 2014 – Calgary’s condo sectors continue to set the pace for the city’s residential resale housing market, which recorded 2,148 sales in September, nearly 12 per cent higher than the same period last year.

“September’s sales growth was stronger than expected, due largely to a surge in condominium apartment and townhouse sales,” said CREB® chief economist Ann-Marie Lurie, who credits Calgary’s strong economy and fewer options in the lower-priced single-family market behind the continued demand.

For the fifth consecutive month, year-over-year condominium apartment sales growth outpaced growth in the single-family sector. Year-to-date condominium apartment sales totaled 3,819, a 21 per cent increase over last year. This compares with a seven per cent increase to 13,842 units in the single-family market over the same time frame.

Added supply in the condominium apartment sector, meanwhile, is providing more choices. New listings increased by 48 per cent in September over last year and nearly five per cent over last month, further improving inventory levels and pushing this market into balanced territory.

In the condominium townhouse market, sales and listings continued its year-to-date trend, rising 20 and 21 per cent, respectively, compared to the same period a year ago. Over the first three quarters, 3,002 units have exchanged hands, relative to the 4,011 new listings.

Despite an increase in new listings, the condominium townhouse market continues to be relatively tight, with absorption rates remaining below two months.

“While overall supply levels have improved, the condominium townhouse sector continues to reflect the tightest market conditions in Calgary,” said CREB® president Bill Kirk.

New listings in the single-family market similarly increased in September, helping to improve inventory levels above two months. A total of 2,148 units entered the market during the month, a jump of nearly nine per cent compared to the same period last year.

“While conditions are now more balanced, the composition of the single-family market has changed,” said Lurie. “One-quarter of year-to-date sales in the sector has been for product priced below $400,000. Last year, it represented 35 per cent of the market share. Two years ago, it accounted for 44 per cent of all single-family sales.”

The single-family benchmark price topped $512,800 in September, similar to August, but a 10.6 per cent increase year-over-year.

Condominium apartment and townhouse benchmark prices grew to respective $298,900 and $330,200, reflecting gains of more than 9.5 per cent relative to last year.

“Calgary’s housing market throughout the spring favoured the seller, resulting in higher-than-expected price gains,” said Kirk. “Now a more balanced market is relaxing some of that upward pressure on home prices, and prices are leveling off relative to the previous month. Year-over-year, however, gains are still in the double-digit range.”

Recent price gains have encouraged listings growth and, ultimately, supply in all sectors, said Lurie.

“However, citywide inventory levels continue to remain below historical norms, and current demand levels continue to point toward healthy absorption rates,” she said.

CARA August 2014 Statistics

Best August on record for Central Alberta home sales

Red Deer, September 17, 2014 – Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association remained at very strong levels in August 2014.

Home sales numbered 511 units in August, an increase of eight per cent from the same month last year. This was the best August sales figure on record and the first time that sales in the month have ever topped the 500 mark.

Sales activity in all of Alberta rose four per cent from a year earlier in August 2014.

On a year-to-date basis Central Alberta home sales were running 12 per cent ahead of the first eight months of 2013, and stood just 26 sales shy of the record for the period set in 2007.

New residential listings on the Association’s MLS® System numbered 816 units in August, up half of one per cent (four listings) from year-ago levels.

There were 2,977 active residential listings on the Association’s MLS® System at the end of August, down six per cent from levels at the end of August 2013.

There were 5.8 months of inventory at the end of August 2014, down from 6.7 months reported at the end of August 2013 and below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The dollar value of all home sales in August 2014 was $167.7 million, rising 15 per cent from a year earlier and a record for the month. The dollar value of home sales in all of Alberta was up eight per cent from August 2013.

Sales of all types of properties totalled 534 units in August. This was up nine per cent compared to August 2013. The total value of all property sales amounted to $180 million in August, up 19 per cent from a year earlier.

The Central Alberta REALTORS® Association is an MLS® listing co-operative, representing more than 560 REALTORS® located in Red Deer and throughout Central Alberta. Details and photos of all Central Alberta REALTORS® Association listings can be found on the national public web sites www.cara.ca, www.REALTOR.ca (residential properties) and ICX.CA (commercial and investment properties).