INFOGRAPHICS: October 2019 CREB City And Region Market Reports
With the winter season just on the horizon, here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!
In their latest market update, CREB reports that homes under $500,000 have been moving to more balanced conditions, and that sales activity in October improved by nearly 10% compared to last year, driven mostly by improvements for apartment and attached product.
New listings also eased, which helped reduce inventory levels and the oversupply in the market. Despite the move to more balanced conditions, the market remains oversupplied and prices continue to remain below last year’s levels.
According to CREB® chief economist Ann-Marie Lurie,
“Employment has shifted in the city, with job growth occurring in our non-traditional sectors and often at a different pay scale. This is consistent with the shift to more affordable housing product. However, at the higher end of the market the amount of oversupply is rising, as supply cannot shift enough to compensate for the reductions in demand. This is likely causing divergent trends in pricing and preventing prices from stabilizing across the city.”
This is a market where signs of improvement are not consistent across all product types and price ranges. Improvements in sales are occurring in the lower price ranges across all product types. This is not yet translating into price shifts, as persistently elevated supply levels continue to place downward pressure on prices.
The following data is a comparison between October 2018 and October 2019 numbers, and is current as of November 2019. For last month’s numbers, check out our previous infographic.
Click on the images for a larger view!
(Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )
Download Printable Version – October 2019 CREB, City of Calgary Report
Download Printable Version – October 2019 CREB, Calgary Region Report