Single-family home sales drop 22% year over year
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