INFOGRAPHICS: September 2019 CREB City And Region Market Reports

Calgary agents, are you ready for the last quarter of the year? Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

As noted in their latest market report, the CREB market appears to be shifting to stability, as for the third consecutive month, sales activity improved over last year’s figures, and year-over-year new listings and inventories eased. This trend will help support more stability in the housing market.

“Price declines have likely brought some buyers back into the market,” said CREB® chief economist Ann-Marie Lurie, noting improvements in the market continue to be driven by homes priced below $500,000.

In the condominium apartment market, sales improved by 16% this month. This represents the segment’s best September since 2015. Year-to-date growth in both the attached and apartment sector were enough to offset the modest decline in the detached sector resulting in year-to-date sales growth of nearly one% in the city.

Despite improving sales and reductions in inventory, the overall market remains oversupplied. This continues to weigh on prices.

“While housing demand is modestly improving, sales activity remains relatively weak,” said Lurie. “The market is moving toward more stable conditions, but this is mostly related to supply adjustments in the city.”

September inventory levels are still elevated at 6,889 units, but this figure represents a decline of 13% compared to last year. The months of supply in the Calgary market currently sits at five months. These conditions continue to favour the buyer, but not to the same degree seen at this time last year.

The following data is a comparison between September 2018 and September 2019 numbers, and is current as of October 2019. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

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! 🙂 )