Calgary Real Estate Price Elasticity of Supply June 16, 2008Posted by DustinRJay in Calgary real estate, supply and demand.
Tags: Calgary real estate, supply and demand
The supply of residential construction in Calgary has been tightly correlated with house prices over the past 30+ years. High house prices lead to high levels of residential construction as increased margins encourage more market participants.
The following graph compares the amount of units under construction to house prices:
I believe this graph demonstrates that the Calgary real estate market is capable of oversupplying the market at the current price point and will continue to do so until developers margins are thinner. Feel free to post your own interpretation below.
Condo Crazy June 2, 2008Posted by DustinRJay in Calgary real estate, condos, supply and demand.
Tags: Adora, Akoya, Alberta Boots, Arriva, Assured on 14th, Astoria, Aura, Bluffs, Castello, Centuria on the Park, City Centre, Colours, Concord Pacific Calgary, CPA Lands II, Cristal, Destiny, Douglas Glen Condo Village, Eau Claire, Eden, Encore, Exchange, Five West, Gateway Beltline, Gateway Southcentre, Giffels at Stampede Station, Grand Haras, Grand Royal, Grosvenor on 15th, Grosvenor on 5th, Habitat for Humanity, Highbury, Horizon Housing Society, Hotel Arts East, International House, Kahanoff Expansion, Kai Towers, Keynote, LaCaille on 4th, LaCaille on 8th, Lake Placid Eau Claire, LaRive, Le Germain, London at Heritage, Luna, Marda Loop Mixed Use, Midtown Towers, Mission Crossing, Mode, Montana, National Condos, Nova, Nuera, Oscar, Ovation, Quarry Park, Ramsay Exchange, Renoir Suites, Riverfront Pointe, Riverside Quays, Skytower, The Crossings, The Seed, Triangle Lands, Tweed, Union Square, Varsity Landing, Verana, Vetro, Viva, Vox, WAM Chinook, Waterfront, Xenex
There are massive levels of new construction about to hit the condo market. There are a record 3,000+ condo units for sale in the resale market. This is relatively small in comparison to the whopping 20,000+ multi-family residential units that are in construction, approved or proposed for Calgary.
The following mosaic and slideshow was compiled based on condo construction due for Calgary.
Hat tip to Boris2K7 for providing detailed information on the Calgary Construction Forum.