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
Archive for the ‘Blog’ Category
Spring 2013 edition of CMHC’s Housing Market Outlook – Calgary
Thursday, July 4th, 2013June 2013, Calgary Real Estate Market Snapshot
Tuesday, July 2nd, 2013Want 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
How to tell if a neighbourhood is improving?
Monday, June 10th, 2013When 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.
Outstanding starter home in Hidden Valley. 25 Hidden Hills Way NW
Friday, June 7th, 2013Are 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 sh
opping needs.
May’s Calgary Real Estate Market Snapshot
Monday, June 3rd, 2013Want 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 Seller’s market.
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
How to make your home appear larger
Wednesday, May 22nd, 2013When 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.
How to Discourage Buyers from Buying Your Home
Thursday, May 16th, 2013Selling a home in Calgary is very competitive. If you’re listing your home
for sale, then of course you’ll want to make the best impression possible
for potential home buyers. But, just to have a little fun, say you don’t want
to sell your property. What could you do to discourage those who view
your home?
Well, you could have your pets in the home during showings. That will
certainly make it uncomfortable for some buyers – especially those
with pet allergies.
You could also leave personal items around, such as family pictures
and trophies. That will make it more difficult for a buyer to imagine
himself and his family living there. It might even make him feel a bit
like an intruder!
Clutter in bedrooms, closets and other areas of the home will make
those spaces feel less spacious than they really are, as well as make
visitors feel uncomfortable.
If you really want to turn off a buyer, then put off doing any minor
repairs. A dripping tap, torn carpet, flickering lights, dent in the wall,
or other maintenance issues are certain to gain a buyer’s attention.
If all that doesn’t shoo away a buyer from your home, then stick
around during a viewing and follow him and his family from room to
room telling them everything you can about your home. That will
certainly make him feel uneasy.
Of course, we’re just having a bit of fun here. When you put your
home on the market, you want to sell it!
It’s easy to avoid all the pitfalls described above and ensure potential
buyers appreciate the full value of your home.
So when you’re preparing for showings, think of ways you can make
your property appear its best, and make the buyer feel welcomed and
comfortable viewing it.
April’s Calgary Real Estate Market Snapshot
Tuesday, April 30th, 2013Want to know what is really happening in Calgary’s Real Estate Market. Bottom line Real Estate is all about supply and demand so that is our focus here. Below you will find a summary of some key Factors with a few short comments. In summary the Calgary housing market is very strong. Sales are strong and our inventory is on the low side making it a Seller’s market. All numbers below are taken from the Calgary Real Estate Boards Stats Package for Realtors.
Calgary Listing Inventory: Inventory levels for all categories increased throughout April. 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 |
March 2013 |
April 2013 |
Change |
|
Single Family Home |
2727 |
2977 |
+250 |
|
Condo Townhouse |
484 |
518 |
+34 |
|
Condo Apartment |
796 |
871 |
+75 |
|
Total |
4007 |
4366 |
+359 |
Calgary Sales:
Sales increased in all categories this month. What is important here is that our sales increased at a higher rate than our inventory putting us into an even stronger sellers market than last month. What I am seeing is that good single family homes in the lower price ranges are harder to find and therefore we are seeing more buyers moving into the townhouse market, the condominium market and surrounding towns.
|
Sales |
March 2013 |
April 2013 |
Change |
% Change |
|
Single Family Home |
1480 |
1611 |
+131 |
+8.8% |
|
Condo Townhouse |
283 |
341 |
+58 |
+20.4% |
|
Condo Apartment |
347 |
429 |
+82 |
+23.6% |
|
Total |
2110 |
2381 |
+271 |
+12.84 |
Calgary Real Estate Sales Prices: Please note that we are now using the Benchmark price for this comparison.
In April the benchmark price increased slightly for all categories. This is simply a reflection demand outpacing supply and may continue until the inventory starts to increase faster than sales.
|
Sales Prices |
March 2013 Benchmark Price |
April, 2013 Benchmark Price |
Change |
|
Single Family Homes |
446,500 |
452,900 |
+$6,400 |
|
Condo Townhouse |
286,800 |
288,900 |
+$2,100 |
|
Condo Apartment |
257,700 |
261,300 |
+$3,600 |
Sales Prices “Year to Date”
Once again we saw increases in all categories.
|
Sales Prices |
Dec 31 2012 Benchmark Price |
April 2013 Benchmark Price |
Change |
% Change |
|
Single Family Homes |
434,800 |
452,900 |
+18,100 |
+4.2% |
|
Condo Townhouse |
284,100 |
288,900 |
+4,800 |
+1.7% |
|
Condo Apartment |
248,700 |
261,300 |
+12,600 |
+5.1% |
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 |
March 2013 |
April 2013 |
Change |
|
Single Family Homes |
1.84 |
1.85 |
+.01 |
|
Condo Townhouse |
1.71 |
1.52 |
– .19 |
|
Condo Apartment |
2.29 |
2.03 |
– .26 |
|
Total Calgary |
1.90 |
1.83 |
– .07 |
Yes, we are in a Sellers Market
As you can see above we are in a Seller’s market for all categories and it is getting stronger in favour of sellers. Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just let me know.
If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us.
If you know anyone else who might enjoy seeing our monthly summary please feel free to share.
Gord, Eric & Brent
Calgary’s March Real Estate Market Snapshot
Monday, April 1st, 2013Below is a short summary of what is really happening in the Calgary Real Estate Market. It cuts through all the extra and provides key information on supply and demand which is what drives prices. For each area I have also included a few comments. All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. In summary the Calgary housing market is starting off 2013 with very strong sales and our inventory is on the low side putting us in a Seller’s market.
Calgary Listing Inventory: Inventory levels for all categories increased throughout March. 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 |
February 2013 |
March 2013 |
Change |
|
Single Family Home |
2408 |
2727 |
+13.2% |
|
Condo Townhouse |
427 |
484 |
+13.3% |
|
Condo Apartment |
704 |
796 |
+13.1% |
|
Total |
3539 |
4007 |
+13.2% |
Calgary Sales:
Sales increased in all categories this month. The trend seems that buyers are coming to the market a little earlier every year. I am also finding that good single family homes in the lower price ranges are harder to find and therefore we are seeing more buyers moving into the condominium market.
|
Sales |
Feb 2013 |
March 2013 |
Change |
% Change |
|
Single Family Home |
1209 |
1480 |
+271 |
+22.4% |
|
Condo Townhouse |
223 |
283 |
+60 |
+25.6% |
|
Condo Apartment |
279 |
347 |
+60 |
+24.4% |
|
Total |
1711 |
2110 |
+399 |
+23.3% |
Calgary Real Estate Sales Prices: Please note that we are now using the Benchmark price for this comparison.
In March the benchmark price increased slightly for all categories. This is simply a reflection of demand outpacing supply and may continue until the inventory starts to increase faster than sales.
|
Sales Prices |
Feb 2013 Benchmark Price |
March, 2013 Benchmark Price |
Change |
|
Single Family Homes |
442,500 |
446,500 |
+4,000 |
|
Condo Townhouse |
283,000 |
286,800 |
+3,800 |
|
Condo Apartment |
252,900 |
257,700 |
+4,800 |
Sales Prices “Year to Date”
Once again we saw increases in all categories.
|
Sales Prices |
Dec 31 2012 Benchmark Price |
March 2013 Benchmark Price |
Change |
% Change |
|
Single Family Homes |
434,800 |
446,500 |
+11,700 |
+2.7% |
|
Condo Townhouse |
284,100 |
286,800 |
+2,700 |
+.95% |
|
Condo Apartment |
248,700 |
257,700 |
+9,000 |
+3.62% |
Absorption Rate (Months of Inventory) (the inventory divided by the number of sales in the last month). What does this mean you might ask?
Below 3.0 indicates a Seller’s Market
Between 2.8 to 4.0 indicates a Balanced Market
Above 4.0 indicates a Buyer’s Market.
|
Absorption Rate |
Feb 2013 |
March 2013 |
Change |
|
Single Family Homes |
1.99 |
1.84 |
-.15 |
|
Condo Townhouse |
1.91 |
1.71 |
-.2 |
|
Condo Apartment |
2.52 |
2.29 |
-.23 |
|
Total Calgary |
2.07 |
1.90 |
-.17 |
= “ Seller’s Market”
As you can see above we are in a Seller’s market for all categories and it is getting stronger in favour of sellers. Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just let me know.
If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us.
If you know anyone else who might enjoy seeing our monthly summary please feel free to pass this on.
Gord, Eric & Brent
Calgary’s February Real Estate Market Snapshot
Monday, March 4th, 2013Here is a summary of some key areas with a few short comments. In summary the Calgary housing market is starting off 2013 with very strong sales and our inventory is on the low side making it a Seller’s market. All numbers are taken from the Calgary Real Estate Boards stats package for Realtors.
Calgary Listing Inventory: Inventory levels for all categories increased throughout February. 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 |
January 2013 |
February 2013 |
Change |
|
Single Family Home |
2075 |
2408 |
+333 |
|
Condo Townhouse |
369 |
427 |
+58 |
|
Condo Apartment |
640 |
704 |
+64 |
|
Total |
3084 |
3539 |
+455 |
Calgary Sales:
Sales increased in all categories this month. Although the increase seems extremely high it is comparable to what happened last year. The trend seems that buyers are coming to the market a little earlier every year. It also seems to me that as good single family homes in the lower price ranges are harder to find we are seeing more buyers moving into the condominium market.
|
Sales |
Jan 2013 |
Feb 2013 |
Change |
% Change |
|
Single Family Home |
879 |
1209 |
+330 |
38% |
|
Condo Townhouse |
147 |
223 |
+76 |
52% |
|
Condo Apartment |
204 |
279 |
+75 |
37% |
|
Total |
1230 |
1711 |
+481 |
39% |
Calgary Real Estate Sales Prices: Please note that we are now using the Benchmark price for this comparison.
In February the benchmark price increased slightly for single family homes and apartment condos and decreased slightly for townhouses.
|
Sales Prices |
Jan 2013 Benchmark Price |
Feb 28, 2013 Benchmark Price |
Change |
|
Single Family Homes |
436,900 |
442,500 |
+1% |
|
Condo Townhouse |
283,400 |
283,000 |
– |
|
Condo Apartment |
251,300 |
252,900 |
+1% |
Sales Prices “Year to Date” Same as above for this month
Once again we saw increases in Single Family homes and Apartment Condos and a slight decrease in Townhouses.
|
Sales Prices |
Dec 31 2012 Benchmark Price |
Feb 2013 Benchmark Price |
Change |
% Change |
|
Single Family Homes |
434,800 |
442500 |
+7,700 |
+2% |
|
Condo Townhouse |
284,100 |
283,000 |
(1,100) |
– |
|
Condo Apartment |
248,700 |
252,900 |
+4,200 |
+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?
Below 3.0 indicates a Seller’s Market
Between 3.0 to 4.0 indicates a Balanced Market
Above 4.0 indicates a Buyer’s Market.
|
Absorption Rate |
Jan 2013 |
Feb 2013 |
Change |
|
Single Family Homes |
2.36 |
1.99 |
-.37 |
|
Condo Townhouse |
2.51 |
1.91 |
-.60 |
|
Condo Apartment |
3.14 |
2.52 |
-.72 |
|
Total Calgary |
2.51 |
2.07 |
-.44 |
As you can see above we are in a Seller’s market for all categories and it is getting stronger in favour of sellers. Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just let me know.
If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us.
If you know anyone else who might enjoy seeing our monthly summary please feel free to pass it on.
Gord, Eric & Brent