Calgary Single Family Market Stats
January 16, 2012
Let’s take a look at the real estate market especially the single family market housing stats. Currently there are 206 sales pending in the market overall, leaving 2924 listings still for sale. The resulting pending ratio is 6.6% (206 divided by 3,130). 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 market. 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 $300K – $400K price range has a relatively large number of contracts pending sale.
We also notice that the $300K – $400K price range has a relatively large inventory of properties for sale at 733 listings. The average list price (or asking price) for all properties in this market is $583,703.
A total of 5690 contracts have closed in the last 6 months with an average sold price of $459,036. Breaking it down, we notice that the $300K – $400K price range contains the highest number of sold listings.
Alternatively, a total of 5285 listings have failed to sell in that same period of time. 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 – $500K price range has the highest number of off-market listings at 1,452 properties.
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Jared & Rebecca
About The Chamberlain Group:
Jared and Rebecca Chamberlain are Calgary REALTORS® who are changing how real estate is done in Calgary by utilizing online marketing and advanced tools to sell your house in Calgary faster and for far more money. They would be honored to have the chance to work with you and earn your business. ____________________________________________________
January 16, 2012
Tags: Calgary Housing Market Stats, Single Family Stats
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