Archive for the ‘Blog’ Category

What is happening in the Calgary Real Estate Market- Sept 1, 2019

Wednesday, September 4th, 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: September 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.

 

Gord’s Commentary

 Current Months of Inventory (Absorption Rate): 

The big change here is that Semi-Detached homes months of inventory decreased by 59.  This is a large change and is moving closer toward a balanced market.

Detached homes increased by .26 but are still sitting in a balanced market.  Of interest if you look at this number for detached homes under $500,000 it puts us into a Sellers market in many communities.  Apartment and Attached-Row homes moved up but only by .14

 

Calgary Listing Inventory

Through August our Listing Inventory decreased slightly in all housing sectors for a total of 127 less listings on Sept 1st than on Ang 1st.   In my opinion this is a seasonal trend with less people selling due to back to school etc.

 Calgary Sales:

Sales for August decreased for detached homes by 87, Attached Row homes and Apartment Condos decreased by 10 and 9.  Semi Detached homes increased by 14.

Overall change is 62 less sales which is identical to last year so I’m going to call it a seasonal adjustment.

 Sales Compared to 2018: 

August sales over 2019 were 106.3% on August sales in 2018.  This is the exact same number as last month.

Calgary Real Estate Sales Prices:

August saw detached homes increase by $7000 – I believe this is driven by homes under $500,000 where we are seeing a Seller’s market.  All other sectors were within $1000 so really no change.

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

What is happening in the Calgary Real Estate Market? August 1, 2019 Snapshot

Thursday, August 1st, 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.

 Calgary Real Estate Market Months of Inventory

 

August 1, 2019  Market Snapshot Report 

 Highlights:  

Detached homes move into a balanced market position.

Apartment Condos Months of Inventory drops by 1.11

Semi Detached Months of Inventory Increases by 1.02

Here are the number’s for July 2019

 

A short explanation of the above numbers including highlights.

Current Months of Inventory: 

Through July our Months of Inventory is all over the map.   Apartment Condo’s dropped by 1.11 which is a large change.  At the same time Semi – Detached homes increased by 1.02 again a big jump.  Detached homes, Attached Row and the total for Calgary all increased marginally.

 

Calgary Listing Inventory

In July, our inventory decreased in all sectors.  The decreased inventory is due to less new listings hitting the market and stronger sales.

 

Calgary Sales:

Sales for July decreased in all categories except Apartment Condos which increased only marginally.  This to me is an interesting number as sales normally trend downward from June to July as we have the Calgary Stampede and Summer Vacations are getting underway.  This in my opinion is a sign that the strength of Calgary Real Estate Market is getting better.

 

Sales Compared to 2018: 

June 2019 was 93.9% of  June 2018 sales

July 2019 was 106.4% of July 2018 Sales so a very good improvement.

 

Calgary Real Estate Sales Prices:

July prices remained very similar to June’s prices.  The largest change is in Attached-Row houses which increased by $2,100

 

 

**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.

Just Listed 1, 7 Blackthorn Bay NE Calgary

Thursday, July 11th, 2019

We are proud to present this fully renovated townhouse in Thorncliffe.

List Price Only $230,000

C4257947

View You Tube video at  https://youtu.be/RLEg9EYeen8

 

Pet friendly, fully Renovated, 3-bedroom, 1081 Sq. Ft.  Townhouse in Thorncliffe.   Upon entry this townhouse will amaze you.  New renovations include the Kitchen with new custom cabinets, quartz countertops and Stainless-Steel appliances. Both Bathrooms have been redone from top to bottom.  In the last several years the following were replaced:  Windows, hardwood flooring in living room and kitchen, furnace, fence and porch with Trex composite decking.  Upstairs features 3 good sized bedrooms and the main bath.  Downstairs is awaiting your finishing touches. Yard is fully fenced allowing room for your pet to roam.  Location is great as it allows easy access to Deerfoot and a quick commute to Downtown and is only a 2 min walk to the Thorncliffe Off Leash dog park. Close to Transit, Schools and plenty of shopping.   Condo fees are only $80.00 month.

Calgary Real Estate Market Snapshot July 1, 2019

Tuesday, July 2nd, 2019

What is really happening in the Calgary Real Estate Market?

Lets look at the number of months of Inventory AKA Absorption Rate

 

 

 Current Report: July 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.  New format shows all numbers first and then my comments.

 

Current Months of Inventory: 

Through June our Months of Inventory increased in all categories except Attached Row houses.   The only Substantial increase is in Apartment Condos which increased by 1.58, Attached Row decreased by .38

Interesting to note that Detached Homes and Semi- Detached homes are trending in a Balanced Market.  Attached Row Houses is in a buyer’s Market and Apartment Condos are still very much in a buyer’s market.

Calgary Listing Inventory

In June, our inventory rose in all Detached homes and Apartment Condos and we saw decreases in Semi Detached and Attached Row Houses.  Overall increase was just 74 listings so not substantial.

 Calgary Sales:

Sales for June decreased in all categories except Attached Row which increased only marginally.

The largest decrease was in the Apartment condo sector which decreased by 16.83%.  Overall sales decreased by 7.34% for the month.

 Sales Compared to 2018: 

In May we were 11.4% above last May’s sales.  In June we are 6.1% down from last year so things seem to be settling out a bit.

 Calgary Real Estate Sales Prices:

June saw price increases in Detached and Semi Detached and we saw decreases in Attached Row houses and Apartment Condos.  Note the price increases in the detached sector is being driven by homes under $500,000.  Which are moving very quickly.

Months of Inventory/Absorption Rate – What does this mean you might ask? It’s 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.

 

Calgary Real Estate Market Snapshot: June 1, 2019

Tuesday, June 4th, 2019

What is really happening in the Calgary Real Estate Market?

 

If you are new to our Monthly Snapshot please scroll to bottom for explanation.

________________________________________________________________________ 

 

                                                  Current Report: June 1, 2019

 

Current Months of Inventory: 

More good news for the Real Estate Market this month.  All housing sectors decreased in the months of inventory with the highest decrease being in the Apartment Condo sector and a close 2nd for Semi- Detached. Of Special note both Detached Homes and Semi-Detached homes moved into balanced market territory.

 

End of April 2019 May 2019 Change
Detached 3.97 3.32 -0.65
Semi Detached 4.63 3.91 -0.72
Attached – Row 5.29 4.98 -0.31
Apartment 6.16 5.25 -0.91
Total City 4.57 3.89 -0.68

 

 Calgary Listing Inventory

In May, our inventory rose in all categories which is very normal for this time of year.

 

Inventory (End of) April 2019 May 2019 Change
Detached 3691 3921 230
Semi Detached 773 793 20
Attached – Row 1053 1100 47
Apartment 1546 1653 107
Total City 7063 7467 404

 

 Calgary Sales:

Sales for May increased in all sectors compared to April.   Sales increasing is again an expected change as we move into the spring market. The good news is that sales increases are outpacing listing inventory moving the entire market closer to balanced.

 

Calgary Sales  April 2019 May 2019 Change % Change
Detached 930 1182 252 27.10%
Semi Detached 167 203 36 21.56%
Attached – Row 199 221 22 11.06%
Apartment 251 315 64 25.50%
Total City 1547 1921 374 24.18%

 

 

***Sales Compared to last year***

In April our sales showed an increase over last April which is the first time in a few years that this has happened.  Hoping the trend continues.

 

  Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2018 102% 82% 72% 80% 82% 89% 95% 93% 85.9% 89.9% 83.0 78.6
2019 83.8% 89.6% 97.1% 102.2% 111.4

 

 Calgary Real Estate Sales Prices:

May saw price increases in all sectors except Apartment Condos.  Being that apartment condos have the highest months of inventory of all sectors, this is an expected result.

  Sales Prices Apr 2018     Benchmark Price  May 2019   Benchmark Price Change
Detached 478,700 487,900 9,200
Semi Detached 395,300 397,700 2,400
Attached – Row 284,900 286,500 1,600
Apartment 250,400 248,200 -2,200
Total City 415,900 424,600 8,700

 

 

Sales Prices “Year to Date”  

This is a positive month as the Detached sector moved into positive territory for the year, Semi-detached are almost break even while apartment Condos and Row Houses still have a ways to go.

Sales Prices Jan 2019    Benchmark Price  May 31, 2019    Benchmark Price Change

$

% Change
Detached 481,400 487,900 6,500 1.35%
Semi Detached 397,500 397,700 200 0.05%
Attached – Row 288,400 286,500 -1,900 -0.66%
Apartment 251,500 248,200 -3,300 -1.31%
Total City 418,500 424,600 6,100 1.46%

 

  

Explanation of our Calgary Real Estate Market Snapshot.

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:  If we did not list any more homes this is how many months it would take to deplete inventory.

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

 

 **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.

 

Just Listed 312 Hampstead Way NW Calgary T3A 6E6

Friday, May 17th, 2019

Just listed this awesome home in the Hamptons.

MLS #C4274461

You Tube Video:  https://youtu.be/0Tlcu_QWnzc


PRICE REDUCED on this Beautiful 2542 Sq. Ft. 4-bedroom home in a great location backing onto a south green space.  Gleaming hardwood on main and upper floors. Upon entry you will be amazed with the grand entry, spiral staircase leading to your living room with open ceiling and large windows providing plenty of natural light.  Main floor also boasts den-office, kitchen with a 3-sided fireplace, open to family room. Step onto the 12 x 19 deck with gorgeous open views of the green space making home perfect for entertaining.  Yard extensively landscaped with retaining wall, Waterfall & Pond, and mature decorative trees. Upstairs you will find hardwood, 3 large bedrooms and the master featuring a 4- piece ensuite with corner jetted tub and a massive walk-in closet.  Down is fully developed with 2 bedrooms and boasts in-floor heating and new carpet.  Large Rec room with corner gas stone fireplace. Main, Upstairs and large down windows replaced in 2018. Oversized garage.

To View entire listing click here

Calgary Real Estate Market Snapshot – May 1, 2019

Thursday, May 2nd, 2019

What is really happening in the Calgary Real Estate Market?

Current Months of Inventory: 

Good news for the Calgary Real Estate Market.  Three months in a row we have a trend with the months of inventory decreasing. April saw all sectors decrease with the largest decrease in Apartment Condos which decreased by 1.71 months.  Detached and Attached-Row houses.  Noteworthy is that Detached homes are nearing a balanced market again.

End of Mar 2019 Apr 2019 Change
Detached 4.15 3.97 -0.18
Semi Detached 5.32 4.63 -0.69
Attached – Row 5.44 5.29 -0.15
Apartment 7.87 6.16 -1.71
Total City 4.96 4.57 -0.40

 

Calgary Listing Inventory

In April, our inventory increased in all categories except Semi-Detached which saw a small decrease.  This increase is totally expected as we starting to enter the spring market.  If the increase is balanced with an increase in sales the market will continue to get healthier.

Inventory (End of) Mar 2019 Apr 2019 Change
 Detached 3393 3691 298
Semi Detached 787 773 -14
Attached – Row 947 1053 106
Apartment 1488 1546 58
Total Calgary 6595 7063 468

 

Calgary Sales:

Sales for April increased in all sectors compared to March.   Sales increasing is again an expected change as we move into the spring market. The good news is that sales increases are outpacing listing inventory moving the entire market closer to balanced.

Calgary Sales  Mar 2019 Apr 2019 Change % Change
Detached 818 930 112 13.69%
Semi Detached 148 167 19 12.84%
Attached – Row 174 199 25 14.37%
Apartment 189 251 62 32.80%
Total City 1329 1547 218 16.40%

 

 ***Sales Compared to last year***

In April our sales showed an increase over last April which is the first time in a few years that this has happened.  Hoping the trend continues.

  Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2018 102% 82% 72% 80% 82% 89% 95% 93% 85.9% 89.9% 83.0 78.6
2019 83.8% 89.6% 97.1% 102.2%

 

Calgary Real Estate Sales Prices:

April saw a small increase in prices in all sectors except for Apartment Condo’s which decreased by only $200.

  Sales Prices Mar 2018     Benchmark Price  Apr 2019   Benchmark Price Change
Detached 475,800 478,700 2,900
Semi Detached 391,000 395,300 4,300
Attached – Row 284,900 284,900 0
Apartment 250,600 250,400 -200
Total City 413,900 415,900 2,000

 

Sales Prices “Year to Date”  

Although prices are up a little in April, we have some catch up to do as the earlier months saw losses.

Sales Prices Jan 2019    Benchmark Price  Apr 30, 2019    Benchmark Price Change

$

% Change
Detached 481,400 478,700 -2,700 -0.56%
Semi Detached 397,500 395,300 -2,200 -0.55%
Attached – Row 288,400 284,900 -3,500 -1.21%
Apartment 251,500 250,400 -1,100 -0.44%
Total City 418,500 415,900 -2,600 -0.62%

  

Explanation of our Calgary Real Estate Market Snapshot.

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:  If we did not list any more homes this is how many months it would take to deplete inventory.

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

  

**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.

Just Listed 4872 Vandoos Place NW Calgary

Friday, April 19th, 2019

Outstanding opportunity in Varsity Acres

View our video tour here 

MLS C4240963 – See Full Details

Location! Location! Location!  Bungalow situated on a quiet Cul-De-Sac with green space in front, a huge 762 sq. m. pie lot on one of the nicest streets in Varsity.  Well-maintained home has good bones and offers an opportunity to get into highly sought-after Varsity.  Features an L shaped LR/DR and a wood fireplace.  Main offers the kitchen, large master bedroom with 2-piece ensuite & 2 additional bedrooms.  Downstairs updated with flooring and large newer windows.  Boasts a large Rec Room, bedroom with walk in closet, 3-piece bath, laundry area and storage room/workshop.  Tons of room to play in your yard that features an oversized double garage (furnace as-is), RV parking pad, 2 sheds, firepit and a dog run.  Updates to the home include a new hot water tank, furnace (2018), Central Air and updated electrical panel.  Also includes Vacuum System, Water softener and a paved lane.  Excellent quiet location with only an 13-minute walk to LRT and minutes to Market mall.

Just Listed 107 Shawglen Rise SW

Monday, April 15th, 2019

Just listed this fantastic starter home/investment property.

View You tube Video here 

MLS # C4239095

More Details or Book a viewing here 

Bright Bungalow located across from a large park and playground. Great Starter home or investment property. Living room features vaulted ceilings with lots of windows for natural light. Separate Dining room.  Laminate flooring through living room, dining room and kitchen.  3 Bedrooms up with the master featuring a 2-piece ensuite.  Functional kitchen with dining nook. Downstairs features a large open rec room, and bar area along with a 4th bedroom with a large window, a 3-piece bath and loads of storage.  Shingles replaced in 2013 and high efficiency furnace in 2012.  As a bonus you get a large Sunroom.  Rear yard features a maintenance free deck, along with room to park 4 vehicles or to add a garage in future.  Back lane is paved.  Location is fantastic with an 11-minute walk to LRT and less to shopping or movies.

Calgary Real Estate Market Snapshot – April 1, 2019

Tuesday, April 2nd, 2019

What is really happening in the Calgary Real Estate Market?

2 year trend of months of inventory for the Calgary Real estate Market.

If you are new to our Monthly Snapshot please scroll down for my explanation.

 Current Report : April 1, 2019

Current Months of Inventory: 

Good news for the Calgary Real Estate Market.  Two months in a row we have a trend of the months of inventory decreasing. March saw all sectors decrease with the largest decrease in Semi-Detached and Attached-Row houses.  Noteworthy is that Detached homes are nearing a balanced market again.

End of Jan 2019 Feb 2019 Change
Detached 5.04 4.15 -0.89
Semi Detached 6.63 5.32 -1.31
Attached – Row 6.98 5.44 -1.54
Apartment 8.73 7.87 -0.86
Total City 6.03 4.96 -1.07

Calgary Listing Inventory

In March, our inventory increased in all categories.  This increase is totally expected as we starting to enter the spring market.  As long as the increase is balanced with an increase in sales the market will continue to get healthier.

Inventory (End of) Jan 2019 Feb 2019 Change
 Detached 2987 3393 406
Semi Detached 689 787 98
Attached – Row 908 947 39
Apartment 1301 1488 187
Total Calgary 5885 6595 710

 

Calgary Sales:

Sales for March increased in all sectors compared to February.   Sales increasing is again an expected change as we move into the spring market. In my opinion the % increase is quite substantial with an overall increase over February of 36.2%.

Calgary Sales  Jan 2019 Feb 2019 Change % Change
Detached 593 818 225 37.94%
Semi Detached 104 148 44 42.31%
Attached – Row 130 174 44 33.85%
Apartment 149 189 40 26.85%
Total City 976 1329 353 36.17%

 

***Sales Compared to last year***

In March our sales were 97.1% of last years sales so a decrease of 2.9%.  I am also starting to see and hear from clients who are getting ready to take advantage of the low prices which may kickstart things a little.  Of interest we are also starting to see competing offers again.

  Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2018 102% 82% 72% 80% 82% 89% 95% 93% 85.9% 89.9% 83.0 78.6
2019 83.8% 89.6% 97.1%                  

 

Calgary Real Estate Sales Prices:

March saw a small decrease in prices in Semi-Detached and Apartments while Detached and Attached Row houses showed slight increases in prices.

  Sales Prices Jan 2018     Benchmark Price  Feb 2019   Benchmark Price Change
Detached 475,600 475,800 200
Semi Detached 392,500 391,000 -1,500
Attached – Row 284,600 284,900 300
Apartment 252,300 250,600 -1,700
Total City 414,400 413,900 -500

 

 Sales Prices “Year to Date”  

Sales Prices Jan 2019    Benchmark Price  Feb 1, 2019    Benchmark Price Change

$

% Change
Detached 481,400 475,800 -5,600 -1.16%
Semi Detached 397,500 391,000 -6,500 -1.64%
Attached – Row 288,400 284,900 -3,500 -1.21%
Apartment 251,500 250,600 -900 -0.36%
Total City 418,500 413,900 -4,600 -1.10%

 

 Explanation of our Calgary Real Estate Market Snapshot.

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:  If we did not list any more homes this is how many months it would take to deplete inventory.

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

  

**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 take into account 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.

Courtesy of TSW Real Estate Group

Gord Piper & Brent Wilcox