Weekly Market Update – Week of May 5, 2009
Filed Under Weekly Market Update · Tagged: Calgary Real Estate Statistics, Calgary stats, Weekly Market Update
Over the past week the number of listings has dropped, as did the number of sales. As we head further into the spring market, we may see the listing count decrease even further. The monthly statistics report came out from CREB this last week, and it showed that the Absorption Rate is down to 4.4 months. What this means is that if no other properties came onto the market, and we just sold all current listings in Calgary at the rate of current sales, it would take 4.4 months to sell everything. Over Christmas and into 2009 we were at over 11 months Absorption Rate. A balanced market is between 2.5 and 4 months, and we are almost at a balanced market, which is a good thing.
Comments