Dan Welyk Realtor®  Since 1999

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It's that time again - Stats have come out!  November has been a very interesting month to say the least.  There has been a little seller frustration in the air and buyers seem to be getting the upper hand. 
 

Despite sales being up 5.45% from the same time last year - they are down by 14.4% from October.  Seller's who entered the market at the tail end of October or the beginning of November seem to have missed a short stint in a fall rush in sales.   
 

There are lots of active buyers looking for homes, but they are not jumping at just anything.  They are taking their time, some doing loads of research.  Seller's are left with their homes sitting on the market contemplating reducing their prices. 

 

Low inventory levels and lots of buyers - who currently are not really doing a whole lot - just looking - may drum up a very busy January taking a turn from the past month.  Unless we see a significant jump in new listings, I anticipate January a good month for home sellers.  If you're a seller and have been sitting on the market for 60 days - hang tight. I think your time is coming.

 

Calgary house pricing index nov 2012

Calgary's Home Price Index (HPI)


As you notice, I'm mentioning the Calgary House Pricing Index or HPI.  What does HPI mean?   

 

In short, this is a way to monitor housing trends in an area - like Calgary.  How is it calculated? 

 

HPI tracks changes in home prices by comparing price levels at a point in time with price levels in a base (reference) period. The base period value is always 100. 

 

For example, if the base period for single-family homes is 2005,  HPI value for single-family homes in December 2011 is 154.2, you know that the value of single-family homes is up 54.2%, compared with 2005 (154.2 − 100 = 54.2%).  

 

It's just a really easy way to see the difference in a market now compared to a few years ago or a few months ago.  See the chart below.

 

Market Snapshot

Single Family

Condo/Apartment

Condo/Townhouse

Monthly

Nov/11

Nov/12

%Chg

Nov/11

Nov/12

%Chg

Nov/11

Nov/12

%Chg

Total Sales

954

1006

5.45

241

253

4.98

150

198

32.0

New Listings

1275

1157

-9.25

338

286

-15.38

224

188

-16.07

Average Price

468,861

488,311

4.15

255,267

310,496

21.64

304,115

315,381

3.70

Active Listings

3674

2586

-29.61

1052

819

-22.15

612

426

-30.39

Days on Market

52

49

-5.55

56

58

3.81

59

50

-14.23



MLS HPI

November  2012

% of Changes

 

Benchmark $

HPI

Oct/12

May/12

Nov/11

Nov/09

Nov/07

Single Family

433,600

184

0.1

1.4

8.5

8.4

0.0

Condo/TH

282,800

177

1.4

2.1

4.1

2.3

-10.5

Condo/Apt

248,000

173

0.4

1.1

4.2

2.1

-12.8

Download the full package here

If you have any questions or concerns, feel free to comment or contact me.

 

About the Author

Dan Welyk

Dan Welyk has been a Licensed Real Estate Professional since 1999 and has grown up in the Real Estate Industry. FindNewDigs.com brings home buyer's and home owners together to find useful information, tools and ideas.

 

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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.
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