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Last week, the Calgary Real Estate Board (CREB) released their monthly housing statistics: 

 

Persistently high inventory levels within Calgary’s residential resale housing market, combined with weak sales activity, contributed to buyers' conditions in November.


Monthly sales totaled 1,263 units, a 28 per cent decline from last year and nearly 20 per cent below the 10-year average. Meanwhile, the amount of new listings in the market increased by five per cent over last November, and moved five per cent above 10- year average.


The combination of both soft sales and elevated listings caused months of supply to rise above four months. It represents the third consecutive month that housing supply in the city has remained near four months, which is an indicator that supports buyers' conditions. [CREB]

 

The problem with an overall look at statistics in Calgary, is that certain sectors or areas can skew the average results for the whole city, not leaving you with an accurate depiction of the marketplace. In looking at the monthly numbers from specific SW Calgary communities, I can see that it's still a buyer's market, but some communities are performing far better than others, and some remain very affordable right now. 

 

A look at SW Calgary communities I work in, for November 2015 (as per CREB): 

 

  • Elbow Park: monthly sales are down 67% from last year; average listing price is $1,425,000, down 32% from last year.
  • Garrison Woods: monthly sales are down 60% from last year; average listing price is $579,375, down 6% from last year. Current listings in Garrison Woods here
  • Richmond Hill: monthly sales are down 29% from last year; average listing price is $460,000, down 6% from last year. Current listings in Richmond Hill here
  • Signal Hill: monthly sales are up 150% from last year; average listing price is $534,200, up 9% from last year. Current listings in Signal Hill here
  • Springbank Hill: monthly sales are down 81% from last year; average listing price is $460,800, down 55% from last year. Current listings in Springbank Hill here
  • West Springs: monthly sales are down 14% from last year; average listing price is $857,583, up 37% from last year. Current listings in West Springs here

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Data supplied by CREB®’s MLS ® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.