Overview of single-family homes activity on MLS in November

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-to-date 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

from Calgary Sun https://ift.tt/2zYvu2z

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