Calgary Housing Market | September 1, 2013 Single Family Report
Let's take a look at the Calgary housing market statistics specifically the single family market. Currently there are 293 houses for sale pending in the single family housing market in Calgary overall, leaving 2948 listings still for sale. The resulting pending ratio is 9.0% (293 divided by 3,241). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked!
The pending ratio indicates the supply & demand of the real estate market in Calgary. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.
"Current inventory is described as somewhat slow."
Taking a closer look, we notice that the $400K - $600K price range has a relatively large number of contracts pending sale.
We also notice that the $400K - $600K price range has a relatively large inventory of properties for sale at 1083 listings. The median list price (or asking price) for all properties on sale in this market is $569,900.
A total of 9453 contracts have closed in the last 6 months with a median sold price of $450,000. Breaking it down, we notice that the $400K - $600K price range contains the highest number of sold listings.
Alternatively, a total of 3,109 Calgary MLS listings have failed to sell in that same period of time. MLS listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. The $400K - $600K price range has the highest number of off-market listings at 1,064 properties.
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