Bōde gives you the data you need to see what’s on the market and what’s sold as well as key market dynamics using our new Market Data and Sold Data dashboards. We used these dashboards ourselves to dive into the sales data to understand the impact Coronavirus has had on the Calgary real estate market.
To do this, we compared figures Pre-Covid (January 1 – March 15, 2020) and During-Covid (March 15 – present) with the same periods from 2019. Here are our findings.
The Calgary Market – Pre-Covid & During-Covid vs 2019
Most media/commentators have been focused on the impact of Covid-19 at a citywide level.
Prior to the Covid lock-down both listings and sales were up in Calgary by 20% and 13% respectively in 2020 year over year. After the lock-down on March 15th (when daycares and schools closed) there has been a significant decline in both new listings (-48%) and sales volume (-50%) vs 2019. Given supply and demand both dropped similarly, prices were down just 1% in April, however data from the first week of May shows the ratio of sold:list price is down 4% vs last year.
However there is no “single” Calgary property market, instead there are number of smaller market segments.
People should look at their: community, price band, and property type (i.e. apartment, detached, attached) to see how Covid has impacted their specific market segment. Bōde’s dashboard allows anyone to see this up-to-date information and choose their own communities and filters.
The impact has been very different across different market segments.
For example in the $1m+ range sales volume was down by 75% vs 59% in the <$600K price range. Similarly, certain communities, like Bankview and Acadia have faired better than others (e.g. South Calgary and the Beltline). You can see the data for your community & property type here.
Looking to the future there are reasons to be optimistic.
New listings and sales volume in the first week of May have improved year over year relative to April. After an initial drop in traffic to the major listing sites, buyer traffic has now mostly recovered.
The market is evolving quickly and each stage of Alberta’s phased re-launch strategy will likely have a significant impact on listings and sales.
We’ll keep you up to date as the market evolves and give you the data you need to track your own market segment.
Search by city or community to see what’s happening in the areas you’re interested in. You can also search by property type and features to get more specific. This information helps you understand the market in which you’re buying or selling a home.
Bōde empowers home buyers and sellers with all the tools and information they need to go through a home transaction themselves. We have been transparently providing market data and sold data to our users, but think it is so much more powerful to just put the data in your hands.
