This Outlook report for Calgary is published semi-annually and offers forecasts and analyses of trends in the new, resale and rental housing markets. For the new home market, housing starts and price changes are examined in detail, while the resale section presents sales activity, average prices, and listings. Analysis of the rental market focuses on vacancy rates, average rents and related forecasts. An overview and forecast of key economic indicators is also detailed, along with other factors affecting the local economy and housing market. Check out their report at http://www.cmhc-schl.gc.ca/odpub/esub/64339/64339_2013_B01.pdf?fr=1376766245407 or visit their website at http://www.cmhc-schl.gc.ca
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CMHC Housing Market Outlook – Calgary
Friday, August 16th, 2013Aug 2013 Calgary Real Estate market snapshot
Thursday, August 1st, 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 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.
116 Silver Springs Drive NW, Calgary Alberta T3B 3G4
Monday, July 22nd, 2013A 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
301, 4506 4th Street NW Calgary Ab. T2K 1A2
Thursday, July 18th, 2013Just 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
Bank Prime Rate Remains the same
Wednesday, July 17th, 2013This 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.
Spring 2013 edition of CMHC’s Housing Market Outlook – Calgary
Thursday, July 4th, 2013The 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
June 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