Five things about Calgary’s housing market

By the numbers

Deciphering all the information coming out of Calgary’s housing market can be difficult at the best of times. And with the number of homes changing hands under more scrutiny than ever, it’s a good time to dig a little deeper.

CREB®Now takes a look at five figures surrounding Calgary’s housing market.

$7.9 billion
Through the first 10 months of 2015, the total value of Calgary homes sold in the city sits at 7.9 billion. While still a staggering figure, the number is already $3 billion shy of the value of homes sold through the first 10 months last year, a drop of 39.2 per cent.

$453,100
As of October, the benchmark price of a Calgary home stood at $453,100. Despite much of the negative numbers elsewhere in Calgary’s housing market, the number represents a drop of just 1.16 per cent over the figure seen last October.

-32.2 per cent
Apartment-style condo sales have bore the brunt of the current slowdown in Calgary’s housing market. In comparison to the first 10 months of 2014, year-to-date apartment sales have fallen from 4,252 to 2,882 — a drop of nearly 33 per cent.

41
The average number of days a Calgary home spent on the market this October was 41. While the number has increased by nearly 10 per cent compared to last year, the jump represents an increase of just four days.

5.3 per cent
A far cry from the 1.4 per cent seen last Fall, Canada Mortgage and Housing Corp.’s (CMHC) latest rental survey showed Calgary’s rental vacancy rate has nearly quadrupled since then to 5.3 per cent, putting far less pressure on would-be renter to contemplate entering the housing market.

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