Beautiful one bedroom 753 Sq foot condo overlooking the Shaganappi golf course in SouthWest Calgary for only $329,900. Check out the video at https://www.youtube.com/watch?v=SRRVOIZa1z8
Archive for the ‘Blog’ Category
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Wednesday, January 2nd, 2013CMHC’s Calgary Housing Market Outlook
Monday, November 5th, 2012The Fall 2012 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_2012_B02.pdf
This report show some great info on the Calgary Housing Market. If you have any questions about Calgary Real Estate feel free to contact me.
What is really happening in the Calgary Real Estate Market?
Thursday, November 1st, 2012Our Market Snapshot gives you information on a few key areas in Calgary Real Estate, in minutes you will have a clear picture of what is really happening in the Calgary Real Estate Market. We have condensed 20 pages of the Realtor’s report from the Calgary Real Estate Board into this simply easy to read format.
Calgary Listing Inventory: Inventory levels for all categories decreased slightly in October. Seeing our inventory decrease is very normal at this time of year as many people like to wait until after Christmas and into spring to list their homes. In my opinion this is not always the best strategy but it seems to happen every year.
| Inventory |
Sept 2012 |
Oct 2012 |
Change |
| Single Family Home |
3486 |
3114 |
-372 |
| Condo Townhouse |
548 |
506 |
-42 |
| Condo Apartment |
1064 |
985 |
-79 |
| Total |
5098 |
4605 |
-493 |
Calgary Home Sales:
Sales increased slightly in all categories except apartment condos this month. This, I find a little surprising as the normal trend for this time of year is to see sales decrease slightly. What I am seeing (especially in Single Family homes) is that it’s hard to find good homes for clients due to low inventory levels.
| Sales |
Sept 2012 |
Oct 2012 |
Change |
% Change |
| Single Family Home |
1132 |
1174 |
+42 |
+3.7% |
| Condo Townhouse |
209 |
219 |
+10 |
+4.8% |
| Condo Apartment |
276 |
272 |
-4 |
-1.5% |
| Total |
1617 |
1665 |
+48 |
+3.0% |
Calgary Real Estate Sales Prices: Please note that we are now using the Benchmark price for this comparison.
As the chart below demonstrates the benchmark price for all categories stayed flat this month. In my opinion this is a very healthy market with good activity level and prices showing modest increases.
| Sales Prices | Sept 2012 Benchmark Price |
Oct 2012 Benchmark Price |
Change |
| Single Family Homes |
432,900 |
433,300 |
+$400. |
| Condo Townhouse |
277,700 |
279,000 |
+$1300. |
| Condo Apartment |
249,300 |
247,000 |
-$2300. |
Absorption Rate (Months of Inventory)
The absorption rate is the inventory divided by the number of sales in the last month. What does this mean you might ask?
A rate of below 3.0 indicates a Seller’s Market
A rate of between 3.0 to 4.0 indicates a Balanced Market
A rate of above 4.0 indicates a Buyer’s Market.
| Absorption Rate |
Sept 2012 |
Oct 2012 |
Change |
| Single Family Homes |
3.08 |
2.65 |
-.43 |
| Condo Townhouse |
2.62 |
2.31 |
-.31 |
| Condo Apartment |
3.85 |
3.62 |
-.23 |
| Total Calgary |
3.15 |
2.76 |
-.39 |
Calgary has made the shift from a balanced market to a definite sellers market with the exception of apartment condos and they are still in a balanced market.
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 anytime.
If you know anyone else who might enjoy seeing our monthly summary please feel free to pass it on.
Gord, Eric & Brent
Sept 2012 Calgary Real Estate Market Snapshot
Thursday, October 4th, 2012Here is a quick summary of some key areas including inventory, sales, prices and absorption rate with a few short comments about the Calgary real estate market for September 2012. All numbers are taken from the statistics package created by the Calgary Real Estate Board for Realtors.
Calgary Listing Inventory: Inventory levels for all categories decreased slightly again in September. Last year this was the time when our inventory was increasing rapidly so seeing a slight decline is a good sign and shows stability in the Calgary market.
| Inventory |
Aug 2012 |
Sept 2012 |
Change |
| Single Family Home |
3535 |
3486 |
-49 |
| Condo Townhouse |
584 |
548 |
-36 |
| Condo Apartment |
1065 |
1064 |
-1 |
| Total |
5184 |
5098 |
-86 |
Calgary Sales:
Sales decreased marginally in all categories this month. In my opinion this is simply a seasonal adjustment. What I am seeing (especially in Single Family homes) it is hard to find good homes for clients due to low inventory levels. Last year’s sales in September were 1461 and this year we sold 1617 homes showing a 10.6% increase this year over last.
| Sales |
Aug 2012 |
Sept 2012 |
Change |
% Change |
| Single Family Home |
1169 |
1132 |
-37 |
-3.2% |
| Condo Townhouse |
241 |
209 |
-32 |
-1.3% |
| Condo Apartment |
315 |
276 |
-39 |
-1.3% |
| Total |
1725 |
1617 |
-108 |
-6.2% |
Calgary Real Estate Sales Prices: Please note that we are now using the Benchmark price for this comparison.
As the chart below demonstrates the benchmark price for all categories stayed flat this month. In my opinion this is a very healthy market with good activity level and prices showing modest increases.
| Sales Prices | Aug 2012 Benchmark Price |
Sept 2012 Benchmark Price |
Change |
| Single Family Homes |
432600 |
432,900 |
+$300.00 |
| Condo Townhouse |
278200 |
277,700 |
-$500.00 |
| Condo Apartment |
248700 |
249,300 |
+$600.00 |
Absorption Rate (Months of Inventory) – Yes a new category!
The absorption rate is the inventory divided by the number of sales in the last month.
What does this mean you might ask?
An absorption rate of below 3.0 indicates a Seller’s Market
An absorption rate of between 3.0 to 4.0 indicates a Balanced Market
An Absorption rate of above 4.0 indicates a Buyer’s Market.
| Absorption Rate | Aug 2012 |
Sept 2012 |
Change |
| Single Family Homes |
3.02 |
3.08 |
+.06 |
| Condo Townhouse |
2.42 |
2.62 |
+.2 |
| Condo Apartment |
3.38 |
3.85 |
+.47 |
| Total Calgary |
3.01 |
3.15 |
+.14 |
Overall we are in a balanced market and leaning towards a seller’s market. Please note that these numbers do change by community. 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 anytime.
If you know anyone else who might enjoy seeing our monthly summary please feel free to pass it on.
Gord, Eric & Brent
Calgary Housing Market August 2012
Monday, September 3rd, 2012We have included a snapshot of what is happening in the Calgary Real Estate Market. Below you will find a summary of some key areas including inventory, sales numbers and of course prices. We have taken the information directly from the Stats package from The Calgary Real Estate Board . Overall the Calgary housing market has slowed but is still in good shape and we are still exceeding last years sales.
Calgary Listing Inventory: Inventory levels for all categories decreased slightly again in August. Last year this was the time when our inventory started increasing rapidly so seeing a slight decline is a good sign and shows stability in the Calgary market.
| Inventory |
July 2012 |
Aug 2012 |
Change |
| Single Family Home |
3646 |
3535 |
-111 |
| Condo Townhouse |
623 |
584 |
-39 |
| Condo Apartment |
1161 |
1065 |
-96 |
| Total |
5390 |
5184 |
-206 |
Calgary Residential Sales:
Sales decreased in Single family homes but increased a little in townhouses and apartment style condos. In my opinion this was expected and is more of a seasonal adjustment as we are following the same trend as last year when our sales peaked in June. The other reason I see for the decrease in Single Family homes is some of my clients are having a hard time finding what they are looking for due to the low inventory levels. Last year’s sales in August were 1569 and this year we sold 1725 showing a 9.9% increase this year over last.
| Sales |
July 2012 |
Aug 2012 |
Change |
% Change |
| Single Family Home |
1386 |
1169 |
-217 |
-18.5% |
| Condo Townhouse |
239 |
241 |
+2 |
+.01% |
| Condo Apartment |
311 |
315 |
+4 |
+1.2% |
| Total |
1936 |
1725 |
-211 | -12.2% |
Calgary Real Estate Sales Prices: Please note that we are now using the Benchmark price for this comparison.
As the chart below demonstrates the benchmark price for all categories stayed flat this month. In my opinion this is a very healthy market with good activity level and prices showing modest increases.
| Sales Prices | July 2012 Benchmark Price |
Aug 2012 Benchmark Price |
Change |
| Single Family Homes |
432400 |
432600 |
+200 |
| Condo Townhouse |
277400 |
278200 |
+800 |
| Condo Apartment |
247600 |
248700 |
+1100 |
Absorption Rate (Months of Inventory) – Yes a new category!
The absorption rate is the inventory divided by the number of sales in the last month.
What does this mean you might ask?
An absorption rate of below 3.0 indicates a Seller’s Market
An absorption rate of between 3.0 to 4.0 indicates a Balanced Market
An Absorption rate of above 4.0 indicates a Buyer’s Market.
| Absorption Rate | July 2012 |
Aug 2012 |
Change |
| Single Family Homes |
2.63 |
3.02 |
+.39 |
| Condo Townhouse |
2.61 |
2.42 |
-.19 |
| Condo Apartment |
3.73 |
3.38 |
-.35 |
| Total Calgary |
2.78 |
3.01 |
+.23 |
Therefore overall we are coming out of a seller’s market and entering a more balanced market. Please note that these numbers do change on a community basis. 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 anytime.
If you know anyone else who might enjoy seeing our monthly summary please feel free to pass it on.
Gord, Eric & Brent
Is Free Market Snapshot for me?
Monday, August 20th, 2012Here is a neat new tool to help you keep on top of whats happening in your Community in the Calgary Real Estate Market.
Our new Market Snapshot gives you a report once a month or you can choose how often. Here is what the report includes:
- Current Listings
- Sold Listings – yes, you can now see what your neighbour’s house sold for
- Average Price
- Median Price
- Days on Market
- Sold price compared to list price . What is awesome about this report is that it is based on whatever you enter as your postal code so you can create one report for your home and another for an investment property or for an area you interested in buying in.
To see a sample report click here Click here to see the report This is a report I set up for myself for Charleswood in NW Calgary.
If you like the idea and want to sign up, click here – your only a few steps away
Any questions please contact me.
What’s happening in the Calgary Real Estate Market!
Wednesday, August 1st, 2012Here is a snapshot of what is really happening in the Calgary Real Estate Market. Real estate are based on supply and demand so the key numbers we look at here are Inventory, Sales, absorbtion Rate and of course Prices which is simply a reflection of the above categories. All numbers below are from the Calgary Real Estate Boards Monthly stats package produced for realtors.
Many of you are aware that the Mortgage rules recently changed and everyone was wondering what effect that would have on the market. Well the biggest change was that 30 year amortization are no longer available as the maximum is now 25 years. As you will see from the stats below these changes did not have much impact so far in Calgary.
Calgary Listing Inventory: Inventory levels for all categories decreased slightly in July. Last year this was the time when our inventory started increasing rapidly so seeing a slight decline is a good sign.
| Inventory |
June 2012 |
July 2012 |
Change |
| Single Family Home |
3817 |
3646 |
-171 |
| Condo Townhouse |
693 |
623 |
-70 |
| Condo Apartment |
1205 |
1161 |
-44 |
| Total |
5715 |
5390 |
-325 |
Calgary Sales:
Sales decreased in all categories this month. In my opinion this was expected and is more of a seasonal adjustment as we are following the same trend as last year when our sales peaked in June. Last year sales in June were 2200 and in July were 1936 – a 13.6% decrease. Total Calgary residential sales for July were 21.3% higher than in 2011.
| Sales |
June 2012 |
July 2012 |
Change |
% Change |
| Single Family Home |
1609 |
1386 |
-223 |
-16.1 |
| Condo Townhouse |
253 |
239 |
-14 |
-5.8 |
| Condo Apartment |
340 |
311 |
-29 |
-9.3 |
| Total |
2202 |
1936 |
-266 | -13.7 |
Calgary Real Estate Sales Prices: Please note that we are now using the Benchmark price for this comparison.
As the chart below demonstrates the benchmark price for all categories stayed flat this month. In my opinion this is a very healthy market with good activity level and prices showing modest increases.
| Sales Prices | June 2012 Benchmark Price |
July 2012 Benchmark Price |
Change |
| Single Family Homes |
430,800 |
432400 |
+1200. |
| Condo Townhouse |
278,000 |
277400 |
-600. |
| Condo Apartment |
246,300 |
247600 |
+1300. |
Absorption Rate (Months of Inventory) – Yes a new category!
The absorption rate is the inventory divided by the number of sales in the last month.
What does this mean you might ask?
An absorption rate of below 3.0 indicates a Seller’s Market
An absorption rate of between 3.0 to 4.0 indicates a Balanced Market
An Absorption rate of above 3.0 indicates a Buyer’s Market.
| Absorption Rate | June 2012 |
July 2012 |
Change |
| Single Family Homes |
2.37 |
2.63 |
+.26 |
| Condo Townhouse |
2.73 |
2.61 |
-.12 |
| Condo Apartment |
3.54 |
3.73 |
+.19 |
| Total Calgary |
2.60 |
2.78 |
+.18 |
Therefore overall we are in a balanced market. Please note that these numbers do change on a community basis. 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 anytime.
If you would like the full stats package just let me know.
Gord, Eric & Brent
June 2012, Calgary Housing Market Snapshot
Tuesday, July 3rd, 2012Want to know what’s really happening in the Calgary Real Estate Market. Below you will find a summary of some key areas with a few short comments. All stats are taken from the Realtors June stats package from the Calgary Real Estate Board.
Calgary housing market continues to perform!
Calgary Listing Inventory: Inventory levels for all categories remained almost flat for June.
| Inventory |
May 2012 |
June 2012 |
Change |
| Single Family Home |
3842 |
3817 |
-25 |
| Condo Townhouse |
675 |
693 |
+18 |
| Condo Apartment |
1222 |
1205 |
-17 |
| Total |
5739 |
5715 |
-24 |
Calgary Sales:
Sales decreased slightly in all categories this month. In my opinion this was expected as we are following the same trend as last year when our sales peaked in June. Total Residential sales however were 16% higher for the first half of this year compared to last year.
| Sales |
May 2012 |
June 2012 |
Change |
% Change |
| Single Family Home |
1710 |
1609 |
-101 |
-5.9 |
| Condo Townhouse |
289 |
253 |
-36 |
-12.4 |
| Condo Apartment |
386 |
340 |
-46 |
-11.9 |
| Total |
2385 |
2202 |
-183 | -7.7 |
Calgary Real Estate Sales Prices: Please note that we are now using the Benchmark price for this comparison.
As the chart below demonstrates the benchmark price for all categories increased marginally this month. In my opinion this is a very healthy market with good activity level and prices showing modest increases.
| Sales Prices | May 2012 Benchmark Price |
June 2012 Benchmark Price |
Change |
| Single Family Homes |
427,500 |
430,800 |
+3,300 |
| Condo Townhouse |
277,000 |
278,000 |
+1,000 |
| Condo Apartment |
245,400 |
246,300 |
+900 |
The absorbtion rate is the number of listings divided by the number of sales in the last month. absorbtion rates are as follows:
Single Family Homes: 2.24
Townhouses: 2.33
Apartment Condos: 4.23
This tells me that single family homes and townhouses are moving quicker than apartment style condos.
Overall the market is now in a balanced market position It is interesting as there are still many communities that are in a buyer’s market position as they have a higher inventory. If you want to know how your community sit’s let me know.
If you have any questions about this summary, or any general Real Estate questions please feel free to contact us anytime.
If you find this info useful please pass on to others who will benefit.
Gord, Eric & Brent