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What’s really happening in the Calgary Real Estate Market?

Tuesday, February 4th, 2020

The market is simply a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each Sector.  Looking at a 2 year trendline gives you and indication of where things are really heading.

Calgary Real Estate Board  Summary of Key Stats

 

Following is a summary of what I deem to be the most important numbers.  Again, we look at Total Inventory, Sales for the past 30 days, Months of Inventory and of course the benchmark price.  All numbers are taken from the Calgary Real Estate boards monthly stats package.

Key Stats for the Calgary Real Estate Market

 

Gord’s commentary for the month (just my opinion).

 

Current Months of Inventory (Absorption Rate): 

Through January our Absorption rate increased for all housing sectors. The smallest increase was in the detached sector at +.25 and the largest was in the Attached Row Sector at +1.34

This means the listing increase is outpacing the sales increase  and it is putting us in a stronger buyers market for all sectors.

Calgary Listing Inventory

Inventory increased in every sector in January.  Most sectors increased somewhat equally except the Apartment condo sector that increased by 16.1% compared to the total increase of 11.6%

Increasing inventory is normal as many people wait till the holidays are over to list.  This is a trend that we expect to see for the next several months.

 Calgary Sales:

Sales in Detached homes and Apartment Condos increased marginally over December which is a normal trend.  Sales in the Semi-Detached and Attached Row homes declined ever so slightly. We also had about 10 Days of bitter weather which keeps buyers indoors.

Sales Compared to 2018:

Sales in all sectors increased over 2018 for a total increase of 8% over 2019.

 Calgary Real Estate Sales Prices:

Prices in all sectors declined a little this month.  The lowest decrease was in the Detached home sector and the largest decline was in the Apartment Condo Sector

Calgary Real Estate Benchmark Prices Year to Date – Same as for the month.

It’s  also important to note that these numbers vary by community, and also by price range.  If you would like numbers for your community contact us.

 

 

 

 

 

 

 

 

 

 

 

 

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Alberta Condominium Act Changes and how they affect you.

Thursday, January 9th, 2020

The Alberta government changed the Condominium act which became law in Jan 2020.  If you own your condo there are a few key points that you need to know.

Insurance:  Effective Jan. 1, 2020, condominium corporations will be able to seek recovery of the deductible portion of the corporation’s insurance claim — up to a maximum of $50,000 — from a condo owner for any damage that originates in their suite or private area.

“That means that if something happens in the unit and it’s not your fault — the toilet explodes, there’s water loss, water damage goes through to the floors below — and there’s a $50,000 deductible or a $25,000 deductible, the owners are now responsible for the deductible,”

Why this is critical now is that insurance rates for Condo Corporations has skyrocketed and so many boards are increasing their deductible.

Recommended Action

  • Find out from your condo board what their insurance deductible is
  • Call your insurance company and make sure your personal policy covers paying the condo boards deductible if something happens.

Insurance tip: When talking to your insurance company also make sure your policy covers any renovations that have been done to your unit as the standard insurance policy normally covers only original finishing. 

Condominium Documents

The other large change is that the government has put a cap on the cost for owners to obtain documents.  This only becomes relevant when you go to sell but at that time it will save you some money.

 

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What’s really happening in the Calgary Real Estate Market?

Friday, January 3rd, 2020

What’s really happening in the Calgary Real Estate Market?  The market is simply a result of Supply and Demand therefore we look at both supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

First here is a graph that shows the months of inventory for each Sector.  Looking at a 2 year trendline gives you and indication of where things are really heading.

 

Following is a summary of what I deem to be the most important numbers.  Again we look at Total Inventory, Sales for the past 30 days, Months of Inventory and of course the benchmark price.  All numbers are taken from the Calgary Real Estate boards monthly stats package.

 

Gord’s comments – Just my opinion

A few comments on this month. 

Merry Christmas and Happy new year.  Yes, you will see major change this month, but this is 100% normal as everyone is focused on the holidays and not on Real Estate.  Here are my comments.

 

Current Months of Inventory (Absorption Rate): 

The larger changes were semi-detached decreasing by .72 and Apartment Condos which increased by .96   Every other sector was less than .25 of a change so fairly stable.

 

Calgary Listing Inventory

Every sector declined giving us 1327 less listings today than a month ago.  As above this is a seasonal trend and starting January, we will start to see these numbers rise again.

 

Calgary Sales:

Sales for December declined in all sectors, and again this is to be expected.  Sales declines were the highest in the Detached home and Apartment Condo sectors and were much lower in the Semi-Detached sector.

 

Sales Compared to 2018: 

Although sales from Nov to Dec dropped, the sales for Dec 2019 were 8% higher than sales in Dec 2018.  This in my opinion is important as we are starting to show more stability in the Market.

 

Calgary Real Estate Sales Prices:

Prices in the Attached – Row and Apartment condo sectors increased marginally (by 1,300 & 900 respectively).

Prices in Detached and Semi-Detached decreased marginally (1,400 & 2,200 respectively)

 

Calgary Real Estate Benchmark Prices Year to Date

As might be expected, all sectors saw a decrease in prices in 2019.

Detached homes:  Declined by $1.900 or .27%

Semi-Detached:  Decreased by $6,200 or 2.34%

Attached Row: Decreased by $1,400 or 1.87%

Apartment: Decreased by $2,300 or 1.07%

Overall Calgary Market:  Decreased by $2,600 or .6%

 

It’s also important to note that these numbers vary by community, and also by price range.  If you would like numbers for your community contact us.

 

 

 

 

 

 

 

 

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What’s happening in the Calgary Real Estate Market?

Monday, December 2nd, 2019

What is really happening in the Calgary Real Estate Market?

 

Graph shows the 2 year trend of Months of Inventory for all housing categories in the Calgary Real Estate Market.

  

Current Report: December 1, 2019

Below see all the stats (Info taken from the Calgary Real Estate Boards Monthly Stats Package.

Gord’s Commentary 

A few comments on this month. 

Overall the market softened a little in November.

 Current Months of Inventory (Absorption Rate): 

November saw a different picture for each Sector although they all saw increases:

Detached homes increased by .14

Semi-Detached increased by 1.37

Attached Row increased by .88

Apartment increased by 1.61

Total Market increased by .56

Calgary Listing Inventory

Calgary listing inventory decreased in all sectors this month for a total of 635 listings less than one month ago. The largest decrease came in the Detached Sector with a decrease of 463 listings. Typically, this is the trend we will see until the end of the year.

Calgary Sales:

Sales for November decreased 287 or 19.83% down from October sales.  Every sector decreased a little with the largest decrease being in the Detached sector of 142 less.  Sales decreasing in November is a very typical for the month.

Sales Compared to 2018: 

November Sales were 98.9% of last years sales so we are down by only 12 sales from November 2018.

 Calgary Real Estate Sales Prices:

Prices for Detached homes showed an increase in Benchmark price of $100.  Semi-Detached, Attached Row, and Apartments all saw decreased this month.

Semi-detached decreased by 7,100

Attached Row decreased by 6,700

Apartment Condos decreased by 3,600

 

Months of Inventory/Absorption Rate: What does this mean you might ask?

The inventory divided by the number of sales in the last month).

 

**Please note that these numbers include only Calgary and do change on a community basis, and more so for towns. This report does not include rural properties and does not consider differences in different price ranges.  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 44 Evanscrest Way NW

Friday, November 8th, 2019

Just listed this great starter home in Evanston.

Full Listing Details:  Click here

MLS: C4275196

Like new, Bright & Beautiful 2017 Pacesetter home with an open concept layout, a large lot and located on a quiet street.  Did I mention the 24 x 24 double garage to keep your vehicles warm? Great Curb appeal with the front porch. Upon entry you will notice all the extra windows making the living room very bright.  Main floor offers an open concept with Living Room, Dining room and Kitchen featuring granite, stainless appliances and large Island.  Head upstairs and you will notice the wide staircase.  Upper level features Master with spacious walk in closet and 5- piece ensuite with granite.   Two other bedrooms and the main bath complete upstairs.  Downstairs is untouched, awaiting your creative touch. Bmst is well laid out and provides 2 windows so you can have a bedroom and a family area with windows.  Step out back and relax on your 10 x11 Deck. Features an oversized double garage (24×24) with plenty of room to play in your yard.   Fully Fenced and landscaped with stone patio.

 

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Taking the Stress Out of Selling your Home

Tuesday, November 5th, 2019

For some people, the thought of listing their home for sale is stressful. They worry about all the things they have to do — and all the things that might go wrong. Luckily, it doesn’t have to be that way. Here are some tips for making your home sale go smoothly:

· Give yourself time to prepare. If you’re thinking of selling six months from now, start preparing your property     now. Do any necessary staging, and get it looking its best. Avoid doing these tasks at the last minute.

· Set the right price. Pricing your property too high will likely result in few, if any, buyers coming to see it. You     might end up having to lower your price later, causing your home to linger even longer on the market. That’s stress   you don’t need!

· Have a flexible viewing schedule.  Buyer’s view homes on their schedule – not yours. If you make it too difficult  for buyers to see your property, they might lose interest or simply choose to buy another home. Be as flexible as possible when a buyer wants to view your property.

· Plan get-away activities. When a buyer comes for a scheduled viewing, don’t be home. Instead, plan some fun activities for your family. Think: playground, shopping, cycling, the zoo, etc.

· Accept the ups and downs. Prospective buyers might say they love your home and plan to make an offer. Then you don’t hear from them again! It happens! Accept the inevitable ups and downs of selling your home.

· Get help with repairs. You’ll probably have things that need to be fixed around the home, like a dripping faucet that needs repair or a room that needs painting. If possible, hire a professional to do some of that work.

· Finally, work with a great real estate agent. That will make the biggest difference in ensuring your move goes smoothly and stress-free. Looking for a real estate agent like that? Call me!

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What is really happening in the Calgary Real Estate Market?

Friday, November 1st, 2019

Calgary Real Estate Market Snapshot at a glance!

This graph shows the 2 year trend of months of Inventory for all sectors in the Calgary Real Estate Market.

Notice this month how everything trended downwards making it a stronger market.

Current Report: November 1, 2019

 A slightly new format this month and moving forward due to technology challenges with reading the graphs on a cell phone.  This should help.

Below see all the stats (Info taken from the Calgary Real Estate Boards Monthly Stats Package.

 

Just a few comments on this month – These are my comments and my opinions. 

 It’s interesting how we are bucking the trend and October saw a stronger market in all Sectors.

 Current Months of Inventory (Absorption Rate): 

The good news is that we reversed what we lost in momentum last month. This month every sector saw a decline in the months of inventory (Absorption Rate) with the lowest decrease being Detached homes at -.39 and the largest with Attached Row homes at -.95.

Once again Detached homes moved into a balanced Market Position.

Calgary Listing Inventory

Calgary listing Inventory decreased in all sectors this month for a total of 396 listings less than one months ago. Typically, this is the trend we will see until the end of the year.

 Calgary Sales:

Sales for October increased over September sales.  Every sector increased a little for an increase of 76 sales over September.  While this in not a big number it is substantial as typically October sees less sales than September.

Sales Compared to 2018: 

October Sales compared to last year were 9.6% higher.

Last month we were 8.2% higher so this is a very good trend and hope it continues.

 Calgary Real Estate Sales Prices:

Prices for Detached homes, Attached Row Homes declined by $3,200 and $2,700 respectively.

Prices for Semi- detached remained flat while Apartment Condos increased by $2,600

Months of Inventory/Absorption Rate: What does this mean you might ask?

The inventory divided by the number of sales in the last month).

 **Please note that these numbers include only Calgary and do change on a community basis, and more so for towns.  This report does not include rural properties and does not consider differences in different price ranges.  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: 6 Chisholm Cres NW Calg, T2L 0Z1

Thursday, October 17th, 2019

Price Reduced – Just listed this Bright and Beautiful 4 level split with 4 bedrooms in sought after Charleswood.

MLS # C4282754

Virtual Tour:  https://youtu.be/7z5LTzfDOU8


Bright and Beautiful 4 level split with 4 bedrooms in sought after Charleswood.  Has seen substantial upgrades over the years including exterior Stucco, soffits & shingles. Interior has been freshly painted, and has an updated kitchen, baths, most windows & furnace. In 2015 sellers spent $68K on landscaping including a pad for a 24 x 24 garage.  This home offers a unique open floor plan with Vaulted ceilings on main.  Living room features an electric fireplace, gleaming hardwood and large windows bringing lots of natural light.  Kitchen offers plenty of cabinets & a large breakfast bar. Upper offers 2 bedrooms and a full bath.  3rd level offers a Walk Out, 2 more bedrooms and a 1/2 bath.  Basement if fully developed with Rec room and 3-piece bath.  Front carport, Huge yard was custom designed with a Paving stone patio, a 24 x 24 garage pad, rundle stone boulders, trees, shrubs and a sprinkler system.  All of this in the desirable community of Charleswood. Close to schools, public transportation.

For more information or a viewing contact me

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What is really happening in the Calgary Real Estate Market?

Wednesday, October 2nd, 2019

Graph shows the 2 year trend of months of inventory for every Sector of the Calgary Real Estate Market.

Current Report: October 1, 2019

 Below see all the stats (Info taken from the Calgary Real Estate Boards Monthly Stats Package).

Gord’s commentary – Just my opinion 

Current Months of Inventory (Absorption Rate): 

A substantial change this month. Every sector increased by about.5 except Semi Detached increased even more at 1.44. One month does not make a trend but this is the opposite direction that we have been going in so let’s keep watching.

Calgary Listing Inventory

Through September our total listing inventory decreased by 169 listings.  Of this 118 were in the detached sector and the rest remained flat. This is to be expected as after the summer listings always slow down.

Calgary Sales:

Sales for September were 210 less than in August.  Of this 118 were in the detached sector again.  This again is a normal trend as sales always go down in September and you will see this trend until the new year.

Sales Compared to 2018: 

September Sales compared to last year were 8.2% higher.

Last month we were 6.0% higher so this is a very good trend and hope it continues.

 Calgary Real Estate Sales Prices:

September saw an overall decrease in Benchmark price of $1100.  The sector that got hit the worst was the Attached row house which lost $3,800.  The only sector that showed an increase was the detached home sector and this was driven by homes under $500,000.

Months of Inventory/Absorption Rate: What does this mean you might ask?

The inventory divided by the number of sales in the last month).

 

**Please note that these numbers include only Calgary and do change on a community basis, and more so for towns.  This report does not include rural properties and does not consider differences in different price ranges.  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 234, 728 Country Hills Road NW:

Friday, September 13th, 2019

                               

                                                            55 plus living at its finest

C4267641

Only $324,900

Check out our Video at https://youtu.be/OHHMWbaSYoc

Bright and beautiful describe this 1161 Sq. Ft. 2 Bed + Den condo in the desired 55+ Sierra’s of Country Hills (Medican building).  An open layout, hardwood floors throughout (except bathroom’s) and a wall of windows provide lots of natural light, & offers great views looking over a green area.  Kitchen offers a functional layout with pantry and Stainless Appliances.  Living room offers view of green area and a gas fireplace. Large dining room for entertaining.  Master Bedroom offers a 4 pce ensuite, walk in closet and large bay window.  Flex Room offers French doors, and a door to east facing deck with BBQ.  Den offers laundry and plenty of room for an office.  Comes with Central Air, underground parking and seperate storage (aprox 9ft x 3.5ft).  Building provides amenities galore including Pool & Hot Tub, Carwash, Workshop, Crafts Room, Social Room, Media Room, Library, Exercise Room, Billiards.  Excellent location with easy proximity to major roads, shopping, Restaurants and public transportation.

For more info contact us here 

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