Thanks again to Mr. Stef Lukas for keeping me on top of what’s going on in the market, here are some of the current numbers.
Calgary Metro – Single Family 2009 2008
Sales 622 393
New Listings Added 881 1,049
Inventory 2,871 5,400
Sales to New Listings 75% 37%
Sales to Inventory 23% 7%
You can see the sales are significantly higher this year than last year which is very promising, but the number that is always interesting to me is new listings added. Once again the gap between units sold and new listings is staying fairly close. If this gap becomes to large we end up with excess inventory, if it stays close we remain relatively balanced all other factors considered.
Some other interesting stats from Stef’s update is that currently there are 46 single family three bedroom homes available for under $300,000 and 15 of those have double garages. Now five years ago, there were hundreds of properties under $300,000 similar to these, but in the current market this is still great and these types of properties generally make great rentals!
Great news.