EDMONTON VS. CALGARY
Comparing the markets
SHOVELS IN THE GROUND
Both Calgary and Edmonton had fewer construction starts for single-family homes between Jan. 1 and the end of June.
Starts in the city of Calgary eased to 1,068 from 1,426, says Canada Mortgage and Housing Corp. Meanwhile, in Edmonton, new construction cooled to 1,378 from 2,140.
Last month, there were 1,673 single-family homes under construction in Edmonton. For Calgary, the count was 1,419.
HOMES CHANGING HANDS
In the first half of 2016, there were new owners for 5,189 singlefamily homes through the resale market in the Alberta capital, says the Edmonton Real Estate Board. That’s down from 5,569 a year ago.
In Calgary, 5,799 single-family homes were sold through the resale market. During the same time in 2015, 6,196 were sold, says the Calgary Real Estate Board.
SELECTION
Six months into 2016, new listings in both centres dialed back.
There were 10,326 additions to the single-family segment of Calgary’s resale market, easing four per cent from 10,756 during the same days in 2015.
In Edmonton, new listings slipped to 9,988 from 10,444.
RESALE PRICES
Calgary and Edmonton have had more affordable prices for singlefamily homes through the resale market this year.
The median price on singlefamily homes in Calgary was $489,250, says CREB. This is a downtick of just more than $4,000 from $493,400 a year ago. In Edmonton, the median price was $404,000, down from $415,000 during the same time in 2015.
SELECTION ON THE NEW HOME MARKET
There were 490 constructed but unabsorbed single-family homes in Edmonton last month.
CMHC says this typically refers to spec and show homes.
A year earlier, the city had 306 unabsorbed homes.
In contrast, Calgary’s new single-family inventory took a step back. The city had 254 homes ready for possession in June, after 267 were on the market during the same month in 2015.
NEW HOME PRICES
The average value on constructed but unabsorbed single-family homes in Calgary last month was $776,816, says CMHC.
This was led by $1,364,418 in the city’s southwest.
In June 2015, the citywide average was $738,508.
Edmonton’s average was $606,103, which is up from $536,713 in June 2015.