The total inventory of properties listed for sale at the end of May 2008 was 14,960. Compared with 7,065 at the same time last year. There are more than twice as many listings for buyers to view.

There were 2,455 sales during May, 2008 and 3,633 in May 2007. Last year was very active with record sales, making it difficult to draw a direct comparison to today’s numbers.

The “Absorption Rate” is a good way to determine the characteristics of the market. It tracks the number of months necessary for the current inventory to be sold at the current sales rate. A “Balanced Market” is characterized by an absorption rate of between 2.5 and 4. Rates above this indicate a buyer’s market while rates below indicate a seller’s market. The chart below shows the change in the absorption rate over the past year and is a good indicator of our transition from a seller’s market to a buyer’s market.


There is still an excess of homes for sale but the inventory is not increasing as fast as it was earlier this year.

Of the current listing inventory, 7,099 are single family homes in the Calgary Metro Area (up 91% from last year) and 3,308 are condominiums in Calgary Metro (up 182% from last year).

For tips on how to sell in a buyer’s market visit www.MichaelBladon.com and click on the ‘tips’ channel or search for ‘Buyer’s Market’.

*Information and charts provided by the Calgary Real Estate Board based on MLS sales and listings. For more information visit www.creb.com