The Gord Piper & Associates Real Estate Blog

Stay ahead of the curve 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 the effect on the price of Calgary Real Estate. A simple way to keep up to date and ahead of most!

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

Find out what your Neighbor’s home sold for – Our market report is set up based on your community! Register for our Market Report at http://www.calgaryareasolds.com/

June showed very little change to inventory, sales or prices.  Supply is tightening a little and we have moved back into a sellers market.

Calgary Listing Inventory:   Inventory went down in all categories this month.  This is typical for June as we approach the summer and holiday season and therefore see less listings.

Calgary Sales:

Sales changed very little in all categories. The only significant category change is apartment condo’s  where sales went up by 11.1%.  A nice improvement as Condo sales have been slower that the other categories.

Calgary Real Estate Sales Prices:  

Prices in all categories increased marginally this month.  Based on the absorption rate below my prediction is that detached and attached homes will see small price increases while apartment condos should stay flat.

Sales Prices “Year to Date”   

Year to date prices – All categories have decreased.

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

*** Absorption Rate:   

The absorption rate decreased again for all categories.  What this means is that the relation to sales over inventory decreased.  This puts detached homes and attached homes into a seller’s market, while apartment condos have stayed in a balanced market but are inching their way back into sellers market territory.

**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.

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows 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. A simple way to keep up to date and ahead of most!

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

Find out what your Neighbor’s home sold for – Register for our Market Report at http://www.calgaryareasolds.com/

Calgary housing market is changing again.  May saw a decrease in inventory and an increase in Sales tightening up the supply and moving us into a sellers’ market.

Calgary Listing Inventory:   It is interesting to see that the inventory went down in all categories this month.  This is partially due to not as many new listings hit the market and that sales increased.   This is opposite of what I would normally expect for May as typically people list in May as the summer is approaching.

Calgary Sales:

Sales in all categories increased this month.  This is a normal trend where getting near the summer the sales increase.

Calgary Real Estate Sales Prices:  

Prices in all categories increased marginally this month.  Apartment condos showed the largest increase.

Based on the absorption rate below my prediction is that detached and attached homes will stay fairly stable or see small price increases while apartment condos should see slight decreases or stay flat.

Sales Prices “Year to Date”   

Year to date prices – All categories have decreased.

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

*** Absorption Rate:   

The absorption rate decreased again for all categories.  What this means is that the relation to sales over inventory decreased.  This puts detached homes and attached homes into a seller’s market, while apartment condos have stayed in a balanced market.

If this trend continues we are going to start seeing a lack of homes for buyers causing multiple offers and larger price increases.

**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.

If you know anyone else who might enjoy seeing our monthly summary please feel free to pass this on. Gord, Eric, Brent

TSW Real Estate Group

It should come as no surprise that we love real estate, but we also love the history of real estate, especially in a city as diverse as Calgary! We recently sold a condo in this beautiful building and couldn’t help but take a peek into it’s past. The Athlone is a building located in Mission, and was built in 1940. Originally the land was occupied by Castel Aux Pres, home to Judge and Lady Winter beginning in 1895.

This home was demolished in 1939 and the Athlone was born. Built by Arthur Cumming LTD. It was the largest and one of the most interesting apartment complexes built in the 1940s. It features elements of classical revised architecture, such as the pilasters, and the decorative lintels over the windows and doorway, but breaks with classical tradition in its lack of a cornice. The main entrance has two features that were considered innovative at the time: a wall of glass blocks surrounding the door; and vitrolite paneling. Built with high quality materials and set back from the street with a spacious front lawn, the 46 suite apartment building was more luxurious than others in the neighbourhood. Quote by Jim Bowman in the Heritage Highlight.

It’s more than just the architecture that makes this building unique. The property has been restored and maintained to keep that 1940’s feeling. In the main entrance you will find a vintage Art Deco pendant light, one of four, circa 1925. The building’s hallways and stairwells feature glass light shades of the type originally found in the building. Even the incinerator chutes have been refinished with layers of paint removed to reveal the original red brick. The incinerator was retired decades ago but the care taken to preserve the buildings history just adds to its charm.

In 2008 the cliff Bungalow – Mission Community association recognized the Athlone as a community heritage site. If you are interested in seeing this wonderful building it is featured in the Calgary Historical Walking Tour of Mission. Click here to get more information on the walking tour and to get your own self-guided tour. Click here for more information on the Athlone.

Foreclosure can either be a great deal or your worst nightmare. If you are considering taking one on, there are some things to know…

Foreclosures:

• Are sold as is, so there’s an increased risk
• Come with no history of sellers
• May appear to be a good deal, but most are sold at market value and often above list price
• Offers are sometimes stacked to generate competing offers
• Provide no history of how the seller lives

Before you make a rash decision that could result in years of work and disappointment, seek professional help to assist you. Gord Piper and Associates

A newly elected provincial government in Alberta will create ripple effects as government priorities shift and new relationships and opportunities for advocacy efforts present themselves. In case you missed it, one element of the NDP platform was a promise to repeal the increases to mortgage registration/land title registration fees that were put forward in the PC budget in March 2015 and restore the current 2014/15 fees. Click here for the announcement of the campaign promise.

Recent statements from the NDP indicate that the government will be pushing forward in eliminating these increases. There is no official timeline yet for this to take place, as the election result represents a significant change and the NDP will require time to transition into office and be prepared to take real action on campaign promises.