Understanding Real Estate Trends in Calgary – Sale Price to List Price Ratio
In the past 2 years Calgary has transitioned from a buyer’s market to a seller’s market. In the past 8 months some market segments in Calgary have homes selling over list price regularly. As a Realtor® in Calgary and Okotoks I am interested in explaining the things my clients experience in the buying and selling process through Calgary Real Estate Statistics. Below I unpack the trend of buyers paying over list price and examine it further.
This chart displays the averaged data for the entire single family real estate market in SE Calgary. You will note that in December 2021 the average single family home began selling at full asking price. The peak of the properties that sold over list price happened shortly after in February and has stabilized somewhat since. Some price ranges experienced this change earlier and have seen larger swings than the chart indicates. This does however confirm that this segment as a whole was the first to move deep into sellers market territory based on Calgary Real Estate Statistics. This is also the market segment that has seen the most aggressive competition as displayed by the high sold to list price ratio.
Just behind the single family market was the Townhouse market. Anyone in the market to buy a new townhouse in SE Calgary these days can attest to the fact that this market is very competitive at the moment. Calgary Real Estate Statistics for this market segment also show strong competition.
Although the apartment segment is not a competitive warzone at the moment, it has seen a significant recovery from the depths of the oversupply conditions over the past few years.
Combined Chart For Comparison
This chart displays the overlay of these three market segments. Looking at this you can see how the first market segment to that began selling over list price was Single Family Detached, followed by Townhouse. The apartment segment is still recovering from its years-long oversupply, but that line looks like it is getting close to the 1.0 mark now. This indicates a positive trend in the Calgary Real Estate Statistics across different property types.