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Aug 2013 Calgary Real Estate market snapshot

Thursday, August 1st, 2013

Want to know 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. In summary the Calgary housing market is still very strong and we are moving even deeper into a Sellers Market.

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

Calgary Listing Inventory: Inventory levels for all categories decreased again throughout July. If you have been following my reports the Inventory levels had been increasing a little every month until last month. This may very well be due to the flooding disaster in Calgary where some listings were taken off the market.

Inventory	June 2013	July 2013	Change
Single Family Home	3199	2917	-282
Condo Townhouse	489	407	-82
Condo Apartment	896	768	-128
Total	4584	4092	-492

Calgary Sales:

Sales decreased in all categories except apartment condos this month. Following the trends of the last few years we are getting into summer vacations when people take holidays and therefore the sales numbers drop a little. A very normal change.

Sales	June 2013	July 2013	Change	% Change
Single Family Home	1638	1575	-63	-3.8%
Condo Townhouse	317	295	-22	-.7%
Condo Apartment	362	398	36	1.0%
Total	2317	2268	-49	-2.1%

Calgary Real Estate We used another online defensive driving school school for our other son. Sales Prices: Please note that we are now using the Benchmark price for this comparison.

In July, the benchmark price increased slightly for all categories except townhouses which saw a small drop. This is simply a reflection demand outpacing supply and will continue until the inventory starts to increase faster than sales.

Sales Prices	June 2013 Benchmark Price	July 2013 Benchmark Price	Change
Single Family Homes	459,700	461,600	1900
Condo Townhouse	295,000	294,500	(500)
Condo Apartment	264,000	267,600	3600

Sales Prices “Year to Date”

Year to date prices have increased in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	July 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	461,600	26,800	6.1%
Condo Townhouse	284,100	294,500	10,400	3.66
Condo Apartment	248,700	267,600	18,900	7.6%

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

Buyer’s Market	>4.0
Balanced Market	Between 2.8 to 4.0
Seller’s Market	<2.8

Absorption Rate: Throughout July our absorption rate decreased in all categories. With inventory shrinking faster than sales are slowing it is now pushing us into a stronger “Sellers market position”.

Absorption Rate	June 2013	July 2013	Change
Single Family Homes	1.95	1.85	-.1
Condo Townhouse	1.54	1.37	-.17
Condo Apartment	2.48	1.93	-.55
Total Calgary	1.98	1.80	-.18

**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.

Tags:Calgary, Calgary Home Prices, calgary real estate, Calgary Real Estate Stats, Condominium, Demand, Northwest Calgary Real Estate Prices, Townhouse
Posted in Blog, Property Values, Real Estate Board's Statistics | Comments Closed

116 Silver Springs Drive NW, Calgary Alberta T3B 3G4

Monday, July 22nd, 2013

A little sweat equity will go along way here! MLS listing C3578405

Opportunity knocks, original solid bungalow in the desirable mature community of Silver Springs. This 3 bedroom, 3 bath bungalow comes with a double garage and is ready for your decorating ideas. Located close to Silver Springs park and tennis courts, Silver springs plaza and transit. Upstairs you will find the L shaped living http://www.phpaide.com/forum.php?langue=fr room & dining room, Kitchen, bath, master bedroom with ensuite and 2 other bedrooms. Downstairs you will find a large recreation room with wet bar, pool table (included), library, bedroom and 3 piece bath. Furnace, HWT and shingles were replaced around 2008. Complete video tour avail at:

http://www.youtube.com/watch?v=EXgyoe-R2AQ

Tags:Calgary MLS Listing, calgary real estate, nw calgary, sell my home calgary, Silver Springs Home for sale
Posted in Blog, Listings | Comments Closed

301, 4506 4th Street NW Calgary Ab. T2K 1A2

Thursday, July 18th, 2013

Just listed a great condo in Highland Park. Only $269,900

Adult Building 50+ Pride of ownership shows in this lovely 2 bedroom & 2 bath corner unit with over 1000 square feet. You will love the open layout and the extra windows for sunlight. Living room provides newer carpet and is bright and features a sliding door to your private balcony. Large kitchen with newer countertops, Island, pantry and lots of cupboards and countertop space. Master bedroom has a 3 piece ensuite, and second bedroom is a good size. Features Insuite laundry and storage room, heated tandem garage is aprox 30 feet deep allowing for 2 small cars or a larger car and plenty of extra storage space. The building provides a passenger elevator lift and visitor parking. Great central location with easy access to downtown, amenities, transit and shopping.

Check out the full video at

301, 4506 4th Street NW Calgary Ab. T2k 1A2

Tags:Calgary MLS Listing, calgary real estate, moving to calgary
Posted in Blog, Listings | Comments Closed

Bank Prime Rate Remains the same

Wednesday, July 17th, 2013

This article is written by our associate Bob Alexander, An Accredited Mortgage Professional with Verico Maximum Mortgage Inc. The Bank of Canada announced today that it will not be changing its overnight rate. Therefore the Prime lending rate remains at 3.00%.

Global Economic growth remains modest although the pace varies across the major economies.

The US economic expansion is also continuing modestly .

In Canada, economic growth is expected to be choppy in the near term. Inflation is low and is expected to remain subdued in the near term.

This is the first pronouncement by the new Governor, Stephen Poloz. It is interesting in that he indicates, between the lines, that the current Prime rate will be unchanged for some time.

The date of the Bank of Canada’s next announcement is scheduled for September 4, 2013.

Tags:Bob Alexander, Economics, Interest, Mortgage loan, Stephen Poloz, Verico Maximum Mortgage Inc.
Posted in Bank Of Canada, Blog, Mortgage News | Comments Closed

Spring 2013 edition of CMHC’s Housing Market Outlook – Calgary

Thursday, July 4th, 2013

The Canadian Mortgage and Housing Corporation produces some great information on what”s happening with the housing market in Calgary. Please keep in mind this australia online casinos report was produced prior to the Calgary Flood 2013. The Spring 2013 edition of CMHC”s Housing Market Outlook – Calgary is now available and can be accessed by clicking on the link below.
http://www.cmhc-schl.gc.ca/odpub/esub/64339/64339_2013_B01.pdf

Tags:Calgary, Canada Mortgage and Housing Corporation, CMHC Housing Outlook
Posted in Blog, CMHC | Comments Closed

June 2013, Calgary Real Estate Market Snapshot

Tuesday, July 2nd, 2013

Want to know 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. In summary the Calgary housing market is still very strong. Sales are strong and our inventory is on the low side making it a strong Seller’s market.

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

Calgary Listing Inventory: Inventory levels for all categories decreased throughout June which is a little bit of a twist. If you have been following my reports the Inventory levels have been increasing a little every week until last week when they went down by 240 listings. This is most likely due to the flooding disaster in Calgary where some listings were taken off the market. I believe that the trend of increasing inventory will start back next week.

Inventory	May 2013	June 2013	Change
Single Family Home	3311	3199	-112
Condo Townhouse	503	489	-14
Condo Apartment	929	896	-33
Total	4743	4584	-159/-3.4%

Calgary Sales:

Sales decreased in all categories this month. Following the trends of the last few years we are getting into summer vacations when people take holidays and therefore the sales numbers drop a little.

What is important to note here is that our sales decreased a higher percentage than our inventory decreased moving us a little closer to a buyer’s market (although we have a long way to go) to get there. Interestingly enough sales each week in June we about the same with no drop at all during the flood and early stages of clean up.

Sales	May 2013	June 2013	Change	% Change
Single Family Home	1766	1638	-128	-7.2%
Condo Townhouse	365	317	-48	-13.1%
Condo Apartment	413	362	-51	-12.3%
Total	2544	2317	-227	-8.9%

Calgary Real Estate Sales Prices: Please note that we are now using the Benchmark price for this comparison.

In June, the benchmark price increased slightly for all categories. This is simply a reflection demand outpacing supply and should continue until the inventory starts to increase faster than sales.

Sales Prices	May 2013 Benchmark Price	June 2013 Benchmark Price	Change
Single Family Homes	456,900	459,700	+2800
Condo Townhouse	292,100	295,000	+2900
Condo Apartment	263,600	264,000	+400

Sales Prices “Year to Date”

Year to date prices have increased in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	June 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	459,700	+24,900	+5.7%
Condo Townhouse	284,100	295,000	+10,900	+3.8%
Condo Apartment	248,700	264,000	+15,300	+6.2%

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

Buyer’s Market	>4.0
Balanced Market	Between 2.8 to 4.0
Seller’s Market	<2.8

Absorption Rate: Throughout June there was little change in the absorption rate although the direction is moving towards a more balanced market.

Absorption Rate	May 2013	June 2013	Change
Single Family Homes	1.87	1.95	+.08
Condo Townhouse	1.37	1.54	+.17
Condo Apartment	2.25	2.48	+.23
Total Calgary	1.86	1.98	+.12

**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.

Gord, Eric, Brent & Jason

Tags:Calgary, Calgary Condos, calgary real estate, calgary real estate prices, Calgary Real Estate Stats, Consumer theory, Inventory, Northwest Calgary Real Estate Prices
Posted in Blog, Property Values, Real Estate Board's Statistics | Comments Closed

How to tell if a neighbourhood is improving?

Monday, June 10th, 2013

When you’re looking for a new home, you want to find one in a great

neighbourhood – or, at least, in a neighbourhood that is on the upswing.

How can you tell if a particular area is improving? Here are some common

indicators:

Pride of ownership. Take a walk around the neighbourhood. Do you get a

sense that people take good care of their homes? Are the lawns mowed?

Is the landscaping trimmed? Are flowers planted? Make sure you take a walk

down the alley’s as they really tell a story. Homeowners are more

likely to look after their properties when they like where they are living.

Home improvements. Are people investing in their homes? Are they

getting their driveways re-done? Their windows replaced? Are there signs

of home improvement projects? If so, this is a clear indication that

homeowners like the area enough to invest in their properties.

Infills. If you are looking in the inner city in Calgary then check out where

builders are investing in infills. This is a huge indicator of how the community is changing.

Real estate sales activity. Do homes tend to sell quickly in the area? Do

they sell for a good price? If so, the neighbourhood is probably in demand.

If people want to live there, it”s a desirable area.

Business investment. Are businesses investing in the surrounding area?

Is there an increase in the number of upscale shops, health clubs,

restaurants, and other commercial enterprises that often locate near

desirable neighbourhoods?

Community involvement. Are there signs that the community plays an

active role in the look and lifestyle of the neighbourhood? Are there

neighbourhood picnics, yard sales and other get-togethers? Check

Facebook.com to see if the neighbourhood casino online has a community page.

City plans. Find out what plans the city has for the area. Will there be road

improvements done in the near future? Are there any major construction

projects on the schedule, such as a new school or community centre, LRT.

Although such projects can be disruptive in the short term, they may

improve the neighbourhood – and, as a result, boost the value of any home

you buy – in the long-term.

Future Investment. One key question I always ask about any neighbourhood is

“What will attract people to buy in this neighbourhood? if the answers are obvious chances are

community will continue to be in demand.

Of course, the best way to find out the desirability of a neighbourhood is to

talk to a good REALTOR® who knows the area. Contact us today.

Posted in Blog, Communities | Comments Closed

Outstanding starter home in Hidden Valley. 25 Hidden Hills Way NW

Friday, June 7th, 2013

Are you looking for a home for a growing family? Pride of ownership shows throughout this fully developed 4 level split that features an open concept and large windows providing natural light. New carpet, paint, granite and more. Main floor boasts hardwood floors throughout living room, kitchen with huge island with granite counter tops, new backsplash, lots of cupboards, and a dining nook. Upstairs you will find a loft which overlooks the main floor (perfect for an office), the master bedroom with cheater door to bath and a second bedroom. Third floor features a large living room with fireplace, another bedroom, 2 pce bath and is a walk up to your yard with deck and garage. Downstairs you will find a large family room and 3 pce bath with large shower. Located on a quiet street only a minute walk to the park. Location provides excellent access to Shaganappi trail, Stoney, Beddington Blvd and 14 Street. Minutes from schools and close to Creekside for your shopping needs.

Posted in Blog, Listings | Comments Closed

May’s Calgary Real Estate Market Snapshot

Monday, June 3rd, 2013

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

Calgary Listing Inventory: Inventory levels for all categories except townhouses increased throughout May. The Townhouse inventory dropped only marginally. Seeing our inventory increase is very normal at this time of year as many people wait until spring to list their homes. This trend of increasing inventory should continue for the next few months.

Inventory	April 2013	May 2013	Change
Single Family Home	2977	3311	+334
Condo Townhouse	518	503	-15
Condo Apartment	871	929	+58
Total	4366	4743	+377

Calgary Sales:

Sales increased in all categories except apartment Condo’s this month. Apartment condo sales dropped but by very little. What is important here is that our sales increased at a lower rate than our inventory moving us towards a balanced market (although we have a long way to go). We are still challenged to find good Single Family homes for buyers as there is little choice so many buyers are moving into the townhouse market, the condominium market and surrounding towns.

Sales	April 2013	May 2013	Change	% Change
Single Family Home	1611	1766	+155	+9.6%
Condo Townhouse	341	365	+24	+7.0%
Condo Apartment	429	413	-16	-3.8%
Total	2381	2544	+163	+6.8%

Calgary Real Estate Sales Prices: Please note that we are now using the Benchmark price for this comparison.

In May, the benchmark price increased slightly for all categories. This is simply a reflection demand outpacing supply and should continue until the inventory starts to increase faster than sales.

Sales Prices	April 2013 Benchmark Price	May 2013 Benchmark Price	Change
Single Family Homes	452,900	456,900	+$4,000
Condo Townhouse	288,900	292,100	+$3,200
Condo Apartment	261,300	263,600	+$2,300

Sales Prices “Year to Date”

Year to date prices have increased in all categories.

Sales Prices	Dec 31 2012 Benchmark Price	May 2013 Benchmark Price	Change	% Change
Single Family Homes	434,800	456,900	+$22,100	+5.1%
Condo Townhouse	284,100	292,100	+$8,000	+2.8%
Condo Apartment	248,700	263,600	+$14,900	+5.99%

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

Buyer’s Market	>4.0
Balanced Market	Between 2.8 to 4.0
Seller’s Market	<2.8

Absorption Rate: Throughout May there was little change in the absorption rate except for the apartment condo market which softened a little.

Absorption Rate	April 2013	May 2013	Change
Single Family Homes	1.85	1.87	+.02
Condo Townhouse	1.52	1.37	-.15
Condo Apartment	2.03	2.25	+.22
Total Calgary	1.83	1.86	+.03

**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 please contact us.

If you have any questions about this summary 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

Tags:Calgary, calgary real estate, calgary real estate prices, Calgary Real Estate Stats, Condominium, moving to calgary
Posted in Blog, calgary realtor, Real Estate Board's Statistics | Comments Closed

How to make your home appear larger

Wednesday, May 22nd, 2013

When selling your home or condo in Calgary you want to show off the space your have. Most of us accumulate stuff and our living spaces get full. Make any room bigger by simply taking things out of the room,however finding storage space in the home can be challenging.

These days, we all just seem to have more stuff!

Fortunately, you don’t necessarily need to rent a storage locker or add a new room to your home to fit everything. One of the things I do annually is look around and if I have not used the item in the last year then I ask myself “Do I really still need this?”

There are many innovative ways to increase the capacity of the storage space you’re already using. For example, there are storage bins you can buy that are designed to fit neatly under a bed. Some have wheels, making the bins easy to pull out and access.

You’ve probably seen closet organizers at your local home improvement centre. These can easily double the storage capacity of a closet, while making the space look neater and more organized.

Finally, there are storage units available that are camouflaged as something else, such as an ottoman.

Visit your local Home Depot. There are many more innovative storage solutions available for your home.

If all else fails, renting a storage pod can be an excellent investment when selling your home.

Posted in Blog, Home Staging | Comments Closed

The Gord Piper & Associates Real Estate Blog

Archive for the ‘Blog’ Category

Aug 2013 Calgary Real Estate market snapshot

116 Silver Springs Drive NW, Calgary Alberta T3B 3G4

301, 4506 4th Street NW Calgary Ab. T2K 1A2

Bank Prime Rate Remains the same

Spring 2013 edition of CMHC’s Housing Market Outlook – Calgary

June 2013, Calgary Real Estate Market Snapshot

How to tell if a neighbourhood is improving?

Outstanding starter home in Hidden Valley. 25 Hidden Hills Way NW

May’s Calgary Real Estate Market Snapshot

How to make your home appear larger

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