creb – Demand down with net migration

City of Calgary, August 2, 2016

In step with City census data on declining net migration levels, housing sales activity totaled 1,746 units in July, a 12.3 per cent decrease over last year and the 20th consecutive month of year- over-year sales declines.


  • The average year-to-date benchmark price decline within the city districts has ranged from highs of 5.1 per cent (City Centre) to lows of 0.8 per cent (North East).
  • The pullback in detached new listings helped balance outdeclining sales.
  • Detached sales account foraround 63 per cent of the entire market this year. Year- to-date, there has been 6,911 sales, 22 per cent below the ten year average and the lowest level since 1996;
  • Year-to-date apartment sales totaled 1,669 units, a 21 per cent decline over last year,which already recorded an 33 per cent annual drop compared to 2014;
  • Months of supply in the apartment sector has averaged 6.3 months this year, far higher than the 3.0 and 4.2 in detached and attached product;
  • The average apartment price showed a year-over-year gain of 13 per cent. This does not reflect any change in trend, as the jump was caused by one high end sale that skewed the numbers.

Read the full report here: July 2016 Monthly Housing Statistics

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