Understanding Housing Statistics
I’m constantly talking about housing statistics, what the market is doing, and how that impacts buying and selling decisions for my clients. For most Calgarians, buying a house is our largest investment and therefore subject to constant interest – particularly regarding what it is worth. The Calgary Real Estate Board (CREB) makes housing statistics available to Realtors® and the public to help us answer that question and many others related to your investment. Other common housing scenarios statistics can assist with include: 1) determining a home’s value when it doesn’t fit the benchmark or is a unique property in some way; 2) finding geographic areas with the best appreciation and value retention; 3) accessing general information on a particular community or a particular home.
Have a chat with your Realtor®. Most Realtors® are more than happy to have these conversations as a free service and can provide invaluable expertise and connect the dots to create a powerful narrative that will assist you in your decision making.
(CREB) Statistic Highlights
- Detached sales totaled 583 units, similar to last year and 13 per cent below long-term averages. Easing sales were met with rising new listings. Months of supply rose to 3.75, slightly higher than last year’s levels at 3.18 months. Overall detached benchmark prices totaled $499,400, similar to levels recorded both last month and in January 2017.
- Apartment sales eased to 145 units, well below long-term averages, but consistent with the slower activity seen over the past three years. New listings eased modestly compared to last January, but it was not enough to cause any meaningful change in inventory levels. Elevated supply compared to demand continued to weigh on pricing.