Archive for September, 2013

October 2013, Calgary Real Estate Market Snapshot

Monday, September 30th, 2013

Want to know what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   In summary the Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales. It is important to note that for the first time in more than 6 months the absorption rate increased above 2.0 so we are seeing a slight shift.

Below are the details along with a few comments, all numbers were taken  from the Calgary Real Estate Boards Stats package for Realtors.

Calgary Listing Inventory:  Inventory levels for all categories remained almost flat this month.

Inventory 

August  2013      

September  2013   

Change

Single Family Home

2791

2789

-2

Condo    Townhouse

417

450

33

Condo    Apartment

690

683

-7

Total

3898

3922

24

 

Calgary Sales: 

Sales decreased marginally in all categories except townhouses which saw a small increase this month.   This is very normal as sales typically start slowing at this time of year.   To look at another perspective even though sales slowed this month they were 19% higher than in August 2012.

Sales

August  2013  

September  2013  

Change

% Change

Single   Family Home

1517

1354

-163

-10.7

Condo  Townhouse

282

245

37

13.6

Condo   Apartment

397

324

-73

-18.4

Total

2196

1923

-273

-12.4

 

Calgary Real Estate Sales Prices:  

In September, the benchmark price stayed almost flat for all categories with apartment condo’s showing the largest increase.

Sales Prices

August  2013

Benchmark Price

September  2013

 Benchmark Price  

Change

Single   Family Homes

464,700

463,700

-1,000.

Condo   Townhouse

298,500

299,100

600

Condo  Apartment

270,600

272,900

2,300

 

Sales Prices  “Year to Date”   

Year to date prices have increased in all categories.

Sales Prices Dec  31 2012    Benchmark Price 

September  2013

Benchmark Price 

Change

% Change

Single   Family Homes

434,800

463,700

28,900

6.65

Condo   Townhouse

284,100

299,100

15,000

5.27

Condo  Apartment

248,700

272,900

24,200

9.73

  

Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market

>4.0

Balanced Market

Between 2.8 to 4.0

Seller’s Market

<2.8

Absorption Rate:  Throughout September our absorption rate increased in all categories.  This could be the start of a shift as this is the first time in several months that the absorption rate has exceeded 2.0.  Of course we have a long way to move still to move into a buyers market.

Absorption Rate  

August 2013  

September 2013  

Change

Single   Family Homes

1.84

2.06

.22

Condo   Townhouse

1.47

1.84

.37

Condo  Apartment

1.74

2.1

.36

Total   Calgary

1.78

2.04

.26

**Please note that these numbers do change on a community basis and more so for towns.  If you would like to find stats on your community just let me know.  If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us.

Interest Rates are on the rise – if you are even considering making a move get to your bank and get a mortgage commitment locked in at today’s rates. It looks like they may even go higher.

 

FORUM FOR A FLOOD FREE CALGARY

Thursday, September 19th, 2013
  Bruce asked if we would pass this on and I think its fantastic.                    Special Meeting Notice: Sunday, September 22nd.
What if the June floods occur again next     year  – and are worse?


FORUM FOR A FLOOD FREE CALGARY            “How to Prevent or Minimize the Risk of Future Floods”
In a city that has experienced the recent flooding crisis, the opportunity     to meet, discuss, question and impact future policy development related to     flood control is essential. To ensure the citizens of Calgary are informed     and can have meaningful input into policy development, the Calgary     Leadership Forum have assembled a faculty of world class experts     speaking to our Mission “How to Prevent or Minimize the Risk of Future     Floods” and avoid the nightmare scenario – ‘What if it happens again next year?’
The Forum will be convened by Mr. Richard Westbury C.     Geologist,
FRGS, and Consulting Geologist who has     world-wide experience.

Faculty Experts Include:

– R. W. (Bob) Sandford, Director of the Western Watersheds     Climate
Research Collaborative and Associate Centre for Hydrology – Global     Water
Institute at the University of Saskatchewan, EPCOR Chair, and the     Canadian
Partnership Initiative in Support of United Nations “Water for     Life” Decade.
– Dr Jerry Osborn     P.Geol., University of Calgary, Dept. of Geology, FRGS,
Consulting Geologist, Historical storm     flooding

– David Hill, Director Centre Institute Research Advocacy University
of Lethbridge – Water Basin Measurement Management
– Emma Hays – Chair, Calgary River Communities Action Group

Also Invited
– City of Calgary – Flood Committee
– Province of Alberta – Prov. Advisory Panel on Community Flood     Mitigation
Representatives from the City of Calgary, The Province of Alberta     will also
be in attendance.

This free public forum will be held on September 22nd, 2013 at
The Croation Cultural Centre, 3010-12th Street N.E., Calgary.

The agenda for the forum is:
12:00 – 1:00 p.m.     – Registration and Meet and     Greet
1:00 – 3:30 p.m.     – Faculty     Presentations
3:30 – 4:30 p.m.     – Public Q & A     /Discussion
4:30 – 5:00 p.m.     – Plan of Action &     Wrap Up

You can     pre-register at:        floodfreecalgary.eventbrite.comor RSVP     to:     https://www.facebook.com/#!/events/167650836763248/


A Proceedings Report with recommendations  ill be prepared and presented to Governments and Flood committees.

The Calgary Leadership Forum is a 1600 member non-partisan think tank,     dedicated to improving the quality of life for the citizens of Calgary, for     this and future generations. The Flood Forum Committee is being     chaired by Dennis Little 

I would greatly     appreciate if you would pass this on to friends and     colleagues who might benefit hearing this information in order to be     better prepared for the next flood or natural disaster.
Best regards,
Bruce

Bruce Lee

403 – 241 – 6212Speaker, Strategist,     MC

bruceleespeaker@shaw.ca

www.bruceleespeaker.comStretching     Performance & Maximizing Productivity

 

4 Royal Birch Mount Calgary Ab. T3G 5W9

Wednesday, September 11th, 2013

Excellent investment with this  fantastic Townhouse, Priced at $339,000

Spacious well maintained townhouse with a functional open floor plan.   Upon entry you cannot help but appreciate the large entrance.  As you proceed you will find the kitchen that overlooks the living room.  Kitchen features stainless steel appliances and plenty of counter space.  There is a separate dining room.  Living room boasts a wall of windows, gas fireplace and a door to your private deck and fenced backyard.  Upstairs you will find the huge master with a 4 piece ensuite bath and safe.  Two other generous bedrooms and the main bath complete the upper floor.  The unspoiled basement is waiting for your personal touch.  Complex offers open space and visitor parking.  Fantastic location in the desirable “0utlook” situated close to shopping at Royal Oak Centre, school and public transit.  MLS C3585077.

Check out the full video tour here: https://www.youtube.com/watch?v=-xZ3uINZQF8

 

001 - Open2view ID3666 - 4 Royal Birch Mt_ (1) 28d

 

 

 

 

 

 

 

 

Check out the full video tour here: https://www.youtube.com/watch?v=-xZ3uINZQF8

Sept 2013 Calgary Real Estate Market Snapshot

Monday, September 2nd, 2013

Want to know what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   In summary the Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales.

Below are the details along with a few comments, all numbers were taken  from the Calgary Real Estate Boards Stats package for Realtors.

Calgary Listing Inventory:  Inventory levels for all categories except townhouses decreased again throughout August.

Inventory 

July  2013    

August  2013   

Change

Single Family Home

2917

2791

-126

Condo    Townhouse

407

417

10

Condo    Apartment

768

690

-78

Total

4092

3898

-194

Calgary Sales: 

Sales decreased marginally in all categories this month.  This is very normal as many people are focused on summer vacations, back to school etc.  The other reason for this is that listings are so low that good homes are challenging to find.

Sales

July  2013 

August  2013  

Change

% Change

Single   Family Home

1575

1517

-59

-3.6%

Condo  Townhouse

295

282

-13

-.44%

Condo   Apartment

398

397

-1

Total

2268

2196

          -72

-3.2%

 

Calgary Real Estate Sales Prices:  

In August, the benchmark price increased slightly for all categories.  This is simply a reflection of demand outpacing supply Mens andre nettsider hovedsakelig fokuserer pa norske spilleautomater pa nett, onsker vi ogsa a servere deg informasjon om de ekte maskinene. and this trend will continue until the inventory starts to increase faster than sales.

Sales Prices

July 2013

Benchmark Price

August  2013

 Benchmark Price  

Change

Single   Family Homes

461,600

464,700

3,100

Condo   Townhouse

294,500

298,500

4,000

Condo  Apartment

267,600

270,600

3,000

 

Sales Prices  “Year to Date”   

Year to date prices have increased in all categories.

Sales Prices Dec  31 2012    Benchmark Price 

August 2013

Benchmark Price 

Change

% Change

Single   Family Homes

434,800

464,700

29,900

6.9%

Condo   Townhouse

284,100

298,500

14,400

5.1%

Condo  Apartment

248,700

270,600

21,900

8.8%

 Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market

>4.0

Balanced Market

Between 2.8 to 4.0

Seller’s Market

<2.8

Absorption Rate:  Throughout August our absorption rate decreased in all categories except townhouses. With inventory shrinking faster than sales are slowing it is now pushing us into a stronger “Sellers market position”.

Absorption Rate  

July 2013 

August 2013  

Change

Single   Family Homes

1.85

1.84

-.01

Condo   Townhouse

1.37

1.47

.1

Condo  Apartment

1.93

1.74

-.19

Total   Calgary

1.80

1.78

-.02

**Please note that these numbers do change on a community basis and more so for towns.  If you would like to find stats on your community just let me know.  If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us.

In Other News:

Rumor on the street is that CMHC has hit their annual $ limit for mortgage insurance so getting this product might be a little more difficult.

Interest Rates are on the rise – if you are even considering making a move talk  to your bank or mortgage broker  and get a mortgage commitment locked in at today’s rates.

Sign up for your personalized Market Report for your Community : http://www.calgaryareasolds.com/

Gord Piper