Calgary Real Estate Market Stats for September 2018

While economic indicators all continue to improve, and our GDP continues to rise, it has not yet translated over into the Real Estate market. We have seen year over year sales volumes consistently lower through out 2018, and September was no exception to this. The good news is that listing inventory has continued to drop, partly due to sales and partly due to properties being taken off the market. There were approximately 567 listings taken off of the market in September due to being terminated, conditionally terminated or expiring. With inventories totaling 7,941 that means that ~7% of the listings are not selling. The higher inventory does continue to have modest pressure downward on pricing, and we are continuing to see days on market creep up.

We expect to see this trend continue as the markets slow coming into the Winter months. Ideally the inventory lowers through the months that are historically low, to help balance out the market come the busier selling seasons. It remains imperative that sellers are educated on property values, and have realistic expectations of the markets. That said, the buyers also need to have realistic expectations with in the markets they are shopping.