Sin­gle-fam­ily home sales drop 22% year over year

Calgary Sun - - HOMES - Myke Thomas CAL­GARY SUN

The sin­gle-fam­ily home is still far and away the most pop­u­lar style of home with buy­ers in Cal­gary.

Here’s how the seg­ment per­formed on the MLS Sys­tem in Novem­ber 2018.*

Sales de­clined across all dis­tricts in Cal­gary, reach­ing 679 units, 22.31 per­cent be­low Novem­ber 2017. Year to date, sin­gle-fam­ily home sales are at 9,448, down from 11,215 sales to the end of Novem­ber last year.

Sales vol­ume by dol­lars was $361,405,664 in Novem­ber, a 23 per­cent de­cline from $467,112,452 in Novem­ber 2017.

Sales dol­lar vol­ume year to date is $5,289,086,644, com­pared to $6,275,292,181 in the first 11 months of 2017.

New list­ings pulled back three per­cent from last year, due to de­clines mostly in the north­east, north and south­east dis­tricts.

Year-to-date new list­ings this year have in­creased in all ar­eas ex­cept the north­east and east dis­tricts.

The sin­gle-fam­ily home in­ven­tory reached 3,491 units, 26 per­cent higher than last year’s lev­els. Months of sup­ply sits at five months, well above the three-month typ­i­cal for Novem­ber.

The benchmark price for sin­gle-fam­ily homes was $486,000 in Novem­ber, a one per­cent de­cline from Oc­to­ber and a three per­cent de­cline from Novem­ber over last year. This is close to seven per­cent be­low monthly highs recorded in Oc­to­ber 2014, just prior to the re­ces­sion.

Prices have eased across all dis­tricts in Novem­ber. On a year-to­date ba­sis, the largest de­clines this year have oc­curred in the north­east and north dis­tricts. This is likely due to the in­creased com­pe­ti­tion from the new-home sec­tor. The dis­tricts that re­main fur­thest from price re­cov­ery are the north­west and south dis­tricts.

Days on the mar­ket in­creased to 60, up sig­nif­i­cantly from 48 in Novem­ber 2017.

* Statis­tics com­piled by the Cal­gary Real Es­tate Board

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