Warren Shouldice

Cell: 403-461-8103 |

June Real Estate Update

Sales growth in May along with a decline in new listings helped to ease pressure on inventory levels, which finished the month at 7,467 units, a decline of 12 per cent compared to last year. Improving sales relative to inventory levels caused the months of supply to ease to just under four months. While still oversupplied, this is an improvement from the five months of supply recorded last May. Citywide sales in May totalled 1,921 units, 11 per cent higher than last year’s levels. However, sales remain 10 per cent below longer-term trends. This sales growth was primarily driven by homes prices under $500,000. Citywide benchmark prices totalled $424,600 in May. While prices have shown some signs of improvement month-over-month, they still remain four per cent lower than 2018 levels.


Quick Stats:

 

May. 2018

May. 2019

Y/Y% change

Detached

     

Total sales

1,059

1,182

11.61%

Inventory

4,504

3,921

-12.94%

Months of supply*

4.25

3.32

-22.00%

Average DOM

40

50

24.35%

Benchmark price**

$507,800

$487,900

-3.92%

       

Attached

     

Total sales

384

424

10.42%

Inventory

2,030

1,893

-6.75%

Months of supply*

5.29

4.46

-15.55%

Average DOM

51

61

20.95%

Benchmark price**

$333,900

$316,800

-5.12%

       

Apartment

     

Total sales

282

315

11.70%

Inventory

1,924

1,653

-14.09%

Months of supply*

6.82

5.25

-23.09%

Average DOM

59

70

17.61%

Benchmark price**

$255,600

$248,200

-2.90%

 

*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

 

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.


Flexible Dumpsters for Home Renos

New synthetic fabric dumpsters offer a flexible method of holding and disposing of renovation waste - without the need to order a large and unsightly metal bin that sits on your front lawn or driveway for weeks on end. The industry calls them FIBC’s, or Flexible Intermediate Bulk Containers, but they’re more commonly known as big bags, bulk bags, bagsters and super sacks.


These durable trash containers can be purchased and taken home (or delivered) for indefinite use, then picked up for a preset fee when full. When the bag is picked up, another bag is dropped off. Available through specialty suppliers or through some home renovation stores, these “soft bins” are easy to move when empty, and they take up much less space than large metal dumpsters. They also take much less time to fill up, so you’ll have a tidier renovation site and less of an eyesore on your property.

Comments:
No comments

Post Your Comment:

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.