Archive for October, 2018

3 Not-So-Obvious Indicators it’s Time to Sell

Saturday, October 6th, 2018

There are many good reasons to put your property on the market. Some examples include a relocation, the kids leaving the nest, the need for something bigger or smaller, and the list goes on and on.

However, there are also some less-than-obvious indicators that it may be time to sell. Consider the following:             1. Your Property is no longer a Good “Fit” Your home may have been perfect for you when you bought it. But things change. Families grow. Needs evolve. For any number of reasons, your property may no longer be a good fit for you. If that’s the case, it makes sense to at least take a look at what’s available on the market. Who knows? Your next “perfect” home may be for sale right now — within your price range!                                                                                       2. The Neighbourhood is Changing.  You may have been in love with the neighborhood when you first moved in. But, over time, the characteristics of any area can change. Those changes don’t necessarily mean the neighborhood is getting worse. In fact, it may be changing in a positive way; perhaps becoming more urban. But, “more urban” may not be what you want. So take a look at the direction your neighborhood is heading. Ask yourself, “Do I still want to be living here in two years?”                                                                                                                                                                3. You’re Ready for Your Dream Home Remember when you purchased your current property? Did it have every feature you wanted? Was it your dream home? Or, did you have to compromise on a few things, such as the size of the kitchen? If you had to make some tough choices back then, it might be time for you to finally get the home of your dreams.

Those are just three indicators it may be time for you to make a move. Of course, there are many others. If you’ve been entertaining the idea of selling your property and finding your next dream home,  give me a shout, I can show you what’s available on the market, and keep you informed of new listings that match what you’re looking for. Contact me anytime.

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Calgary Real Estate Market Snapshot Oct 1, 2018

Tuesday, October 2nd, 2018

Months of Inventory for the Calgary Real Estate Market

What is really happening in the Calgary Real Estate Market?

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

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Current Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.  In September we saw every category increase quite substantially in the number of months of inventory putting the entire Calgary market into a buyer’s market position.

End of Aug 2018    Sept 2018    Change
Detached 4.78 5.49 0.71
Semi Detached 6.45 7.09 0.64
Attached – Row 6.22 7.58 1.36
Apartment 6.86 7.68 0.82
Total City 5.45 6.25 0.80

 

 Calgary Listing Inventory

In September, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector followed by the apartment condo sector.  This is normal at this time of year and we should expect this trend to continue for the rest of the year.

***One interesting note is that in the last 2 days of September the inventory decreased by almost 500 listings. I believe this is listings expiring and some of these will get re-listed as this is exactly what happened last month.

Inventory Aug 2018    Sept 2018    Change
 Detached 4433 4348 -85
Semi Detached 909 872 -37
Attached – Row 1113 1107 -6
Apartment 1666 1620 -46
Total Calgary 8121 7947 -174

 

Calgary Sales:

Sales were down in all categories. This is normal for September as we will now tread down every month until the new year.

Calgary Sales  Aug 2018    Sept 2018    Change % Change
Detached 927 792 -135 -14.56%
Semi Detached 141 123 -18 -12.77%
Attached – Row 179 146 -33 -18.44%
Apartment 243 211 -32 -13.17%
Total City 1490 1272 -218 -14.63%

 

Sales Compared to last year:  Thought this is a number that deserves a look as the trend is changing. This chart shows this year’s sales as a percentage of last years so yes,  sales are down but they are down less than at the beginning of the year.

Jan Feb Mar Apr May June July Aug Sept Oct Nov  Dec
102% 82% 72% 80% 82% 89% 95% 93% 85.9      

 

Calgary Real Estate Sales Prices:

September saw prices decrease in all sectors which is expected with the high number of months of inventory on the market.  Unless something changes we can expect to see this trend for a few more months.

  Sales Prices Aug 2018     Benchmark Price   Sept 2018   Benchmark Price Change
Detached 497,000 493,100 -3,900
Semi Detached 411,300 407,400 -3,900
Attached – Row 296,700 294,200 -2,500
Apartment 258,100 257,200 -900
Total City 432,000 428,700 -3,300

 

Sales Prices “Year to Date”  

Same as monthly number

Sales Prices Jan 1, 2018    Benchmark Price  Sept 2018   Benchmark Price Change

$

% Change
Detached 499,600 493,100 -6,500 -1.30%
Semi Detached 416,600 407,400 -9,200 -2.21%
Attached – Row 299,500 294,200 -5,300 -1.77%
Apartment 257,700 257,200 -500 -0.19%
Total City 433,200 428,700 -4,500 -1.04%

 **Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or about Real Estate in general, please feel free to contact us.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Just Listed 1628 Copperfield Blvd

Tuesday, October 2nd, 2018

Just listed this great home in Copperfield.

MLS C4209515

List Price $425,000

You tube: https://youtu.be/P2S4WJ-oJcw

 

Just listed this beautiful home on the market for the first time.

Just listed this beautiful home on the market for the first time.

Beautiful one owner home in a Copperfield.  Home has been well taken care of and has upgraded flooring on main and includes Central Air.  Living room features a large island with eating bar, pantry, and a gas stove.  Large dining area is great for family get togethers.  Living room features new laminate flooring and a gas fireplace.  Main floor also includes laundry and a guest bath.  Upstairs you will enjoy the size of the bonus room with vaulted ceilings, Master Bedroom features 5-piece ensuite and walk-in closet. Complete the upstairs with 2 bedrooms. Downstairs has large windows and is waiting for you creative touches.  On those hot summer days enjoy you yard with deck and awning (included) and fire pit. Located minutes away from the pond and walking paths, close to schools. For more info or to view this listing contact us.

 

 

 

 

 

 

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