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Variable Rate Mortgage Watch March 6, 2019

Friday, March 8th, 2019

No Change to Prime 

The Bank of Canada is opting to hold off on further interest rate increases, at least for now.
While the Bank projected a temporary slowdown at the end of 2018 and into 2019, the slowdown has been much more pronounced than anticipated. According to the Bank, this is because–in addition to the fallout from last year’s drop in oil prices–Canada is also suffering from softer consumer spending, an under performing housing market, and lower-than-expected exports and business investment.

We’re not alone. Countries across the world are dealing with trade tensions, low economic confidence and slow economic activity. As a result, many central banks–including the Bank of Canada–are being forced to acknowledge that global economic growth and financial conditions are a little slower than previously predicted, and the future remains a little uncertain at the moment.

All that being said, core inflation measures remain close to the Bank’s 2% target, while CPI inflation eased to 1.4 per cent in January, but is expected to increase to slightly below the 2% target through most of 2019. With inflation in check, the Bank judges that, for now, the policy interest rate should stay below the neutral range. It will continue to monitor the data to determine the timing of future rate increases.

My advice is to stay with your current existing variable rate mortgage. However, if your existing variable rate discount is Prime less .75% or less, then please contact me for further discussions.

 The date for the Bank of Canada’s next announcement is scheduled for April 24 2019.
This information was provided by one of our Preferred Suppliers – The Mortgage Doctor
To Contact Bob visit www.mortgagedoctors.ca 

 

 

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March 1, 2019 Calgary Real Estate Market Snapshot

Friday, March 1st, 2019

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:  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

 

Current Report:  March 1, 2019

This graph shows the 2 year Trend of the number of months of inventory for a housing sectors.

Graph shows the 2 year trend of months of Inventory of all sectors of homes in the Calgary Market.

Current Months of Inventory: 

In February our months of inventory decreased in every housing sector in Calgary.  Although we are certainly in a Buyer’s market this month all sectors moved toward a more balanced market which in my opinion is a great sign.

End of Jan 2019 Feb 2019 Change
Detached 5.83 5.04 -0.79
Semi Detached 7.64 6.63 -1.01
Attached – Row 7.64 6.98 -0.65
Apartment 9.31 8.73 -0.58
Total City 6.81 6.03 -0.78

 

 Calgary Listing Inventory

In February our months of inventory increased in all categories.  This increase is totally expected as we move further away from the holiday season.

Inventory (End of) Jan 2019 Feb 2019 Change
 Detached 2834 2987 153
Semi Detached 649 689 40
Attached – Row 817 908 91
Apartment 1173 1301 128
Total Calgary 5473 5885 412

 

 Calgary Sales:

Sales for February increased in all sectors compared to January.   Although the increase was not substantial it is good to see a change of direction.

Calgary Sales  Jan 2019 Feb 2019 Change % Change
Detached 486 593 107 22.02%
Semi Detached 85 104 19 22.35%
Attached – Row 107 130 23 21.50%
Apartment 126 149 23 18.25%
Total City 804 976 172 21.39%

 

***Sales Compared to last year***

In Feb our sales were 89.6% of last years sales so a decrease of 10.4%.  This trend in my opinion is expected to continue until our economy and consumer confidence change direction.  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.

  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%

 

Calgary Real Estate Sales Prices:

February saw a very small decrease in prices in detached and Semi-Detached homes.   Attached (Row) houses and Apartment condos showed a slight gain.  Based on our absorption rate (months of inventory) we can expect prices to continue to trend downward.

  Sales Prices Jan 2018     Benchmark Price  Feb 2019   Benchmark Price Change
Detached 476,500 475,600 -900
Semi Detached 393,100 392,500 -600
Attached – Row 284,300 284,600 300
Apartment 251,300 252,300 1,000
Total City 414,800 414,400 -400

 

 Sales Prices “Year to Date”  

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

$

% Change
Detached 481,400 475,600 -5,800 -1.20%
Semi Detached 397,500 392,500 -5,000 -1.26%
Attached – Row 288,400 284,600 -3,800 -1.32%
Apartment 251,500 252,300 800 0.32%
Total City 418,500 414,400 -4,100 -0.98%

 **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.

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Guaranteed Sold – My personal opinion!

Tuesday, February 19th, 2019

If it sounds too good to be true then it probably is!

In my opinion the program is simply a lead generating tool that earns Realtors business.  They use “Guaranteed Sale” on their marketing to attract leads but when the consumer finds out the “Terms and Conditions” there is not a chance they will use the program but they often end up listing with the Realtor anyways.

Why do I say this:  I looked into a Real Estate Website development company and here is what I found.   This company creates web sites for Realtors and below are a couple of clips from their site.

Here is another clip selling this to Realtors.


This quote I found on an agents website.  “Many homeowners are not initially pleased with the guaranteed price of their home because it does not reflect the true value of the property”

I was able to get my hands on a couple of agreements from different Brokerage’s and here are just some Terms and Conditions you might see. It is important to know there are other agreements out there that may be substantially different – this is just one example.

  • How is Price determined? They complete a Comparative Market Analysis and then deduct the Realtor commission and then deduct up to 10%.  In other words a house with a market value of $400,000 the Guaranteed Sales Price would be less than $350,000
    • As a Realtor I know that if you put any property on the market for even 5% under true market value it will most likely be sold in a day and most often with competing offers.
  • No One Ended Guarantees – It is a requirement that the seller purchase another property of equal or greater purchase price.
  • If you cancel the contract then you must still pay full real estate commissions.
  • The contract will be conditional to a home inspection at Sellers cost and seller shall be responsible for fixing all defects identified. If not completed the brokerage can terminate the entire agreement

Just my opinion it’s no wonder consumers would not sign an agreement like this.

Here is what the Real Estate Council of Alberta has to say about Guaranteed sales programs.

RECA

In summary, If it sounds too good to be true then it probably is!  The Brokerages offering this Guarantee want nothing to do with buying your home – it is simply a lead generating tactic.

As a Realtor, I do not and would not ever use this program as I feel that it deceives the public and in my opinion that is not right!

As a consumer if I called a company to sell my home based on Guaranteed Sale advertising,  I would feel tricked once I learned the details and that is not how I run my business.

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Calgary Real Estate Market Snapshot Feb 1, 2019

Friday, February 1st, 2019

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:  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

 

Current Report: Feb 1, 2019 

Months of Inventory Trend Last 2 Years

 

Current Months of Inventory: 

In January our months of inventory increased in all categories except Apartment Condo’s which decreased a little.  This puts every segment of the market into a substantial buyers market.

End of December 2018    January 2019 Change
Detached 5.23 5.83 0.60
Semi Detached 6.50 7.64 1.14
Attached – Row 6.81 7.64 0.83
Apartment 9.69 9.31 -0.38
Total City 6.16 6.81 0.65

  

Calgary Listing Inventory

In January our months of inventory increased in all categories.  An increase of inventory in January is 100% expected as many people do not want to sell over the holidays and wait until Jan.

Inventory December 2018    January 2019 Change
 Detached 2598 2834 236
Semi Detached 572 649 77
Attached – Row 715 817 102
Apartment 1027 1173 146
Total Calgary 4904 5473 569

Calgary Sales:

Sales for January were almost equal to December’s sales.  In my opinion this is not a good sign as sales in January should be starting to pick up.

Calgary Sales  December 2018    January 2019 Change % Change
Detached 497 486 -11 -2.21%
Semi Detached 88 85 -3 -3.41%
Attached – Row 105 107 2 1.90%
Apartment 106 126 20 18.87%
Total City 796 804 8 1.01%

 

***Sales Compared to last year***

Although only doing 83.8% of last years sales sounds terrible if we look at the numbers from last year Jan sales equaled the year before – ie: The big decrease in sales started in February 2018.  Therefore I would predict that starting in February sales should be close to last years.

  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%

 

Calgary Real Estate Sales Prices:

December saw prices decrease in all sectors with the largest decrease being in the Detached home sector.  This 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 Dec 2018     Benchmark Price   Jan 2019   Benchmark Price Change
Detached 481,400 476,500 -4,900
Semi Detached 397,500 393,100 -4,400
Attached – Row 288,400 284,300 -4,100
Apartment 251,500 251,300 -200
Total City 418,500 414,800 -3,700

 Sales Prices “Year to Date”  

Numbers are same as above for this month only!

Sales Prices Jan 1, 2018    Benchmark Price  Feb 1, 2019    Benchmark Price Change

$

% Change
Detached 481,400 476,500 -4,900 -1.02%
Semi Detached 397,500 393,100 -4,400 -1.11%
Attached – Row 288,400 284,300 -4,100 -1.42%
Apartment 251,500 251,300 -200 -0.08%
Total City 418,500 414,800 -3,700 -0.88%

 **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.

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Real Estate Sold Data – big news about nothing!

Thursday, January 10th, 2019

Home Sales Price Data will soon be available to the public, a Realtor perspective.

Background:  The competition bureau recently won in it’s ruling that VOW Websites are allowed to show Sold Real Estate data.  The opposing position from Toronto Real Estate Board argued that doing this is a breach of privacy.  Since the competition board won in Toronto it is felt that any further challenges will be won by the competition board so I believe most boards across Canada including the Calgary Real Estate Board have decided to allow this data to be put on VOW Websites.

What makes this change ironic is that in 15 years of Real Estate if anyone asked me for sold data I would give it to them so it has always been available, just now it will be on websites.

Moving Forward:  Realtor.ca has announced that it will include Sold data on it’s website – what that looks like nobody knows yet.  As for this data being put on Realtor websites my opinion is that it will happen but will take some time.

In Calgary we are waiting for instructions from the Calgary Real Estate Board  to determine what we are allowed to do.  Even after a decision is announced it will take some time as a change of this magnitude  is a huge project in Web-site redesign and there is a huge cost.

What effect will this have on Real Estate in Calgary? 

In my opinion little to none.  People do not hire Realtors for Sold Data.  Even with sold data people will still need Realtors expertise to sort through the data, figure out what is relevant and what is not to help homeowners determine the value of their home.  This opinion is based on my experience in the industry and even when we give people the sold data many still have a hard time figuring out a competitive price resulting in all the overpriced listings you see sitting on the market.

Lastly, if you have sold a home you know the value a Realtor brings to the table including advice on pricing, staging, fixing items, renovating,  resale value, marketing strategies that work, what attracts buyers ect ect ect.

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Calgary Real Estate Market Snapshot for Jan 1, 2019

Wednesday, January 2nd, 2019

What is really happening in the Calgary Real Estate Market?

First Explaining my report: 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

 

Current Monthly Report 

 

 

Current Report

Current Months of Inventory: 

In December our months of inventory increased in all categories except Semi-Detached which decreased a little.  Of note is that apartment condos increased 4.15 months – this is important as last month condos decreased by 1.63 leaving a net 2 month gain of 2.54 months which is still substantial.  All housing categories are now in a “buyer’s market position”.

 

End of Nov 2018    Dec 2018    Change
Detached 5.16 5.23 0.07
Semi Detached 6.97 6.59 -0.39
Attached – Row 6.58 6.81 0.23
Apartment 5.51 9.66 4.15
Total City 5.57 6.18 0.60

 

 

Calgary Listing Inventory

In December, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector followed by the Apartment Condo sector. This decrease is normal at this time of year as people often take their home off the market during the Holiday Season and many will relist in January.

 

Inventory Nov 2018    Dec 2018    Change
 Detached 3507 2592 -915
Semi Detached 753 573 -180
Attached – Row 948 715 -233
Apartment 1323 1024 -299
Total Calgary 6531 4904 -1627

 

Calgary Sales:

In December we saw a decrease in sales in all Categories.  Again, this is very normal as people are busy during the holidays and Real Estate moves often get put off until people are settled in after the holidays.  I speculate that in January these numbers will start to increase.

 

Calgary Sales  Nov 2018    Dec 2018    Change % Change
Detached 680 496 -184 -27.06%
Semi Detached 108 87 -21 -19.44%
Attached – Row 144 105 -39 -27.08%
Apartment 240 106 -134 -55.83%
Total City 1172 794 -378 -32.25%

 

***Sales Compared to last year***

As you can see from the chart below comparing sales to last year’s sales there have been some substantial changes.  In the first half of the year we were trending up and in the last 6 months we are trending down rather quickly.  My belief is that this is due to the Economic conditions in Calgary and declining consumer confidence.

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

 

 

Calgary Real Estate Sales Prices:

December saw prices decrease in all sectors with the largest decrease being in the Detached home sector.  This 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 Nov 2018     Benchmark Price   Dec 2018   Benchmark Price Change
Detached 486,000 481,400 -4,600
Semi Detached 400,700 397,500 -3,200
Attached – Row 292,900 288,400 -4,500
Apartment 252,800 251,500 -1,300
Total City 422,600 418,500 -4,100

 

 

Sales Prices “Year to Date”  

Well the numbers are finally in for 2018 with all categories showing a loss in the Benchmark price.

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

$

% Change
Detached 498,700 481,400 -17,300 -3.47%
Semi Detached 412,500 397,500 -15,000 -3.64%
Attached – Row 296,700 288,400 -8,300 -2.80%
Apartment 256,400 251,500 -4,900 -1.91%
Total City 432,400 418,500 -13,900 -3.21%

 **Please note that these numbers include only Calgary and  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 contact us.  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 175 Mapleburn Drive SE

Thursday, December 27th, 2018

Just listed in Mapleridge.

1444 sq. ft. solid Bungalow with oversized double garage is looking for an update.  Gain some equity with your ideas and renovations.

MLS: C4220488

List $470,000

You tube Video:  https://youtu.be/NzgptvzCxFo

Just listed in Mapleridge

Solid bungalow awaiting your ideas and finishing touches. This mostly original 4-bedroom home boasts 1444 Sq. ft. and an oversized double garage on a large lot located on a beautiful mature street in sought after Maple Ridge. Main floor is laid out well with living room with wood fireplace, dining room, Kitchen with refaced cabinets and updated countertops. Master bedroom is large and offers a 2-piece ensuite, 3 other bedrooms and full bath complete the main floor.  Downstairs is partially finished with a large recreation room and a bedroom (no egress window).  Plenty of storage space.

 

 

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Calgary Real Estate Market Snapshot for Dec 1, 2018

Tuesday, December 4th, 2018

What is really happening in 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

Current Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.  In November there were some ups and some downs with the most significant being the Apartment Condo sector that went from 7.12 months to 5.49 months, which is a significant drop and is now the lowest Apartment Condos have been in well over a year.  One month does not make a trend and I speculate that this is largely do to listings expiring and people are leaving them off till the new year. All categories are still in a “Buyers Market” position.

End of Oct 2018    Nov 2018    Change
Detached 4.80 5.14 0.35
Semi Detached 6.53 6.94 0.40
Attached – Row 6.59 6.56 -0.04
Apartment 7.12 5.49 -1.63
Total City 5.56 5.55 -0.01

  

Calgary Listing Inventory

In November, 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 as consumers move their focus to Christmas.

 

Inventory Oct 2018    Nov 2018    Change
 Detached 3976 3491 -485
Semi Detached 823 749 -74
Attached – Row 1009 944 -65
Apartment 1509 1317 -192
Total Calgary 7345 6501 -844

 

Calgary Sales:

In November we saw a slight increase in Sales in the Apartment Condo Sector over last month while other sectors saw a decrease in sales. Sales decreasing at this time of year is normal with Christmas approaching.

Calgary Sales  Oct 2018    Nov 2018    Change % Change
Detached 829 679 -150 -18.09%
Semi Detached 126 108 -18 -14.29%
Attached – Row 153 144 -9 -5.88%
Apartment 212 240 28 13.21%
Total City 1322 1171 -151 -11.42%

 

***Sales Compared to last year:

As you can see from the chart below comparing sales to last year there have been some substantial changes.  In the first half of the year we were trending up and in the last 6 months we are trending down rather quickly.  My belief is that this is due to the Economic conditions in Calgary and declining consumer confidence.

Jan Feb Mar Apr May June July Aug Sept Oct Nov  Dec
102% 82% 72% 80% 82% 89% 95% 93% 85.9% 89.9% 83.0

 

Calgary Real Estate Sales Prices:

November saw prices decrease in all sectors with the largest decrease being in the Detached home sector.  This 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 Oct 2018     Benchmark Price   Nov 2018   Benchmark Price Change
Detached 490,200 486,000 -4,200
Semi Detached 403,400 400,700 -2,700
Attached – Row 293,400 292,900 -500
Apartment 257,200 252,800 -4,400
Total City 426,300 422,600 -3,700

  

Sales Prices “Year to Date”  

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

$

% Change
Detached 499,600 486,000 -13,600 -2.72%
Semi Detached 416,600 400,700 -15,900 -3.82%
Attached – Row 299,500 292,900 -6,600 -2.20%
Apartment 257,700 252,800 -4,900 -1.90%
Total City 433,200 422,600 -10,600 -2.45%

  

**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 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 TSW Real Estate Group here.

 

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Calgary Real Estate Market Snapshot for Nov 1, 2018

Thursday, November 1st, 2018

What is really happening in the Calgary Real Estate Market?

Months of Inventory for last 2 years.

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

_______________________________________________________________________

Current Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.  In October we saw every category decrease in the number of months of inventory, however all categories are still in a Buyers Market position.

End of Sept 2018    Oct 2018    Change
Detached 5.49 4.80 -0.69
Semi Detached 7.09 6.53 -0.56
Attached – Row 7.58 6.59 -0.99
Apartment 7.68 7.12 -0.56
Total City 6.25 5.56 -0.69

  

Calgary Listing Inventory

In October, our inventory decreased in all sectors and overall, the highest decrease was in the Detached home sector followed by the Apartment Condo sector and then Attached-Row.  This is normal at this time of year and we should expect this trend to continue for the rest of the year.

 

Inventory Sept 2018    Oct 2018    Change
 Detached 4348 3976 -372
Semi Detached 872 823 -49
Attached – Row 1107 1009 -98
Apartment 1620 1509 -111
Total Calgary 7947 7345 -602

 

Calgary Sales:

An interesting twist, normally we see sales drop in October over Sept,  yet this year we saw an increase.  Not a large increase but an increase.

Calgary Sales  Sept 2018    Oct 2018    Change % Change
Detached 792 829 37 4.67%
Semi Detached 123 126 3 2.44%
Attached – Row 146 153 7 4.79%
Apartment 211 212 1 0.47%
Total City 1272 1322 50 3.93%

 

Sales Compared to last year:  Thought this is a number that deserves a look as the trend is changing. 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% 90.1%    

 

Calgary Real Estate Sales Prices:

October saw prices decrease in all sectors except Apartment Condos which did not change. This 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 Sept 2018     Benchmark Price   Oct 2018   Benchmark Price Change
Detached 493,100 490,200 -2,900
Semi Detached 407,400 403,400 -4,000
Attached – Row 294,200 293,400 -800
Apartment 257,200 257,200 0
Total City 428,700 426,300 -2,400

  

Sales Prices “Year to Date”  

Same as monthly number

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

$

% Change
Detached 499,600 490,200 -9,400 -1.88%
Semi Detached 416,600 403,400 -13,200 -3.17%
Attached – Row 299,500 293,400 -6,100 -2.04%
Apartment 257,700 257,200 -500 -0.19%
Total City 433,200 426,300 -6,900 -1.59%

 

**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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Posted in Blog, Market Snapshot, Property Values | Comments Closed

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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Posted in Blog, Home Buyers, Home Sellers, Home Sellers | Comments Closed

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