Archive for the ‘Blog’ Category

« Older Entries
Newer Entries »

Calgary Real Estate Market Snapshot for Feburary 2021

Monday, March 1st, 2021

 What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector.  Looking at a 2-year trendline gives you an indication of where things are really heading.

2 year trend of Months of Inventory for the Calgary Real Estate market for all Housing Sectors.

2 year trend of Months of Inventory for the Calgary Real Estate market for all Housing Sectors.

Gord’s commentary for the month (just my opinion).

With Detached homes setting the pace the Calgary Real Estate Market is seeing sales numbers we have not seen since 2014.  I have had a lot of people ask the question WHY?

Following are just my thoughts on the why:

  1. Low-Interest Rates According to Rate Hub a 5-year mortgage can be had at 1.64% – Crazy Low.
  2. According to data from ATB the Job losses Alberta has seen have been in the lower wage groups. Higher wage jobs are in positive territory compared to a year ago.
  3. There has recently been some positive news in the Oil & Gas Sector.
  4. With Vaccine’s coming there is a little more of a positive vibe out there.

Calgary Listing Inventory

We saw an increase in all Sectors in listing inventory.  This is very normal and as we approach spring the listing inventory will continue to rise.

Calgary Sales:

Calgary Sales were the highest they have been since 2014. The highest increases were in

Attached Rowhomes: 73.33% increase over last February.

Detached homes 53.63% increase over last February.

Apartment Condo:  46.24% Increase over last February

Sales Compared to 2020:

This is where it gets interesting.  As you can see sales in February 2021 beat sales in February 2020 by 54.4%

 

  Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2020 861 1190 1175 573 1080 1747 1835 80 1702 1764 1437 1199
2021 1208 1836                    
Change +347 +646                    
% change +7.49 +54.4                    

 

 Calgary Real Estate Benchmark Sales Prices:

Overall, the Benchmark Price for all sectors increased by $8,800.  Detached homes increased by $12,000 (the largest) and the smallest which was Apartment Condos which still increased by $2,899.

 Current Months of Inventory (Absorption Rate): 

The months of inventory decreased in all housing sectors.   From the smallest to largest decrease the change was:

Semi-Detached   -.38 Now in Seller Market Territory

Detached -.59   Now in Seller Market Territory

Attached Row: -1.6 Now in Balanced market territory.

Apartment:  – 1.81 Still in Buyer’s market territory

Sales compared to last February are up by 54.4% so even though inventory is rising the increase in sales is much higher than the increase in listings pushing us to lower months of inventory and into a seller’s market for some sectors.

 It is also important to note that these numbers vary by community, and by price range.  If you would like numbers for your community contact us.

Below is a summary of numbers in chart form.  All numbers are taken from the Calgary Real Estate Boars monthly Stats package.

Stats from the Calgary Real Estate Board's Monthly Stats package for February 2021

Stats from the Calgary Real Estate Board’s Monthly Stats package for February 2021

Tags:, , ,
Posted in Blog, Real Estate Board's Statistics | Comments Closed

Just Listed

Friday, February 26th, 2021

Outstanding opportunity to own this 2 bedroom, 2 bath renovated condo for only $165,000

Check out full listing here: https://www.tswrealestategroup.com/for-sale/12-3212-edenwold-heights-nw–61872682

MLS A1077327

Outstanding opportunity in Edgecliffe Estates.  This main floor open concept 2 bedroom – 2 bath, newly renovated unit is priced to sell and is a great starter home or investment opportunity.  The living room is open to the kitchen which features an eating bar. The living room features a gas fireplace and leads to your covered east-facing patio to enjoy your morning coffee.  The primary bedroom is spacious and features a 3-piece ensuite.  2nd bedroom is spacious and can double as an office.  The main floor has the advantage of being just a few steps to bring in your groceries.  The unit provides In-Suite laundry with room for storage.  The complex features the Edgecliffe Club which boasts an indoor pool, hot tub, steam room, exercise room and a social room with a pool table, fireplace, and kitchenette.  Fantastic location just minutes to Nose Hill Park, perfect for your outdoor walk, close to U of C, Children’s hospital, Market mall and public transit.

Tags:, , ,
Posted in Blog, Listings | Comments Closed

Just Listed: 132 Tuscany Hills Close NW

Thursday, February 11th, 2021

Just listed this awesome family home in Tuscany.

MLS # A1068881

For full details:  https://www.tswrealestategroup.com/for-sale/132-tuscany-hills-close-nw–61676623

 

Photos

Bright, beautiful family home in an excellent Tuscany location, walking distance to schools.  This move-in ready home offers an open concept, hardwood floors on the main and plenty of upgrades.   The living room is bright, open to the kitchen and features a gas fireplace for those chilly Calgary nights. The kitchen features a gas stove, breakfast bar, pantry, and dining nook.  Separate dining room offers mountain views.  Home is perfect for entertaining with the large deck, and the beautifully landscaped, large pie lot.  Upstairs you will find the bonus room offering a fireplace, vaulted ceilings, and mountain views. The primary bedroom offers a walk-in closet and a 4-piece ensuite with jetted tub.  Complete the upstairs with 2 additional bedrooms and main bath.  Professionally finished lower level with the fourth bedroom, full bath, and recreation room with wet bar.   Location is excellent, a quiet street, walking distance to schools, close to Sobeys, Starbucks, restaurants, public transportation, and parks.  The home features air conditioning and a sprinkler system.

Tags:,
Posted in Blog, Listings | Comments Closed

Calgary Real Estate Market Snapshot Feb 1, 2021

Monday, February 1st, 2021

What is really happening in the Calgary Real Estate Market?

The market is a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector.  Looking at a 2-year trendline gives you an indication of where things are really heading. On the right it indicates if we are in a sellers or buyers market in that sector.

Graph shows 2 years on Months of Inventory for all sectors within the Calgary Real Estate Market.

 

Gord’s commentary for the month (just my opinion).

Calgary had another very busy month in the Real Estate world.  It feels like we are in the spring market already. Sales of detached homes, especially in the lower price ranges are booming and we are seeing multiple offers. Currently in the single-family home sector what is holding people back from buying is the lack of inventory so they cannot find what they want.

 COVID-19: Even though we are in a similar lockdown situation as we were in March there does not seem to be the same result in the market falling.  I believe that the public is now aware of the many protocols Realtor’s have put in place to keep both Buyers and Sellers safe. On top of that, I believe people are seeing that there is a light at the end of the tunnel with the recent Vaccine announcements.

Calgary Listing Inventory

Every housing sector saw an increase in Inventory, and this is to be expectedin January.  In November/December people often hold off for the holiday season and are now listing.

Calgary Sales:

Overall Calgary sales increased in January over December but only by a small margin. The only sector that saw a decrease was the Attached-Row Sector and sales were only down by 19.

Sales Compared to 2020:

This is where it gets interesting.  January saw 347 more sales than in January of 2020.  This makes me believe that there is still a pent-up demand and with the interest rate so low we are going to see some higher numbers this year than we have seen in a while.

 

  Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2020 861 1195 1175 573 1080 1747 1835 80 1702 1764 1437 1199
2021 1208
Change +347
% change +7.49

 

 Calgary Real Estate Benchmark Sales Prices:

Overall, the Benchmark Price for all sectors increased by $1500.   All sectors showed an increase except Semi-Detached which showed a small decrease of 2,000.

 

Current Months of Inventory (Absorption Rate): 

The months of Inventory increased marginally in all Sectors except the Semi-Detached sector where months of inventory declined by .13.

Detached homes at 2.17 put us solidly into a seller’s market.

Semi-Detached is at 2.53 so borderline between Sellers and Balanced market position.

Attached Row and Apartment sectors are both in Buyer’s Market positions with 4.65 and 7.08 Months of Inventory respectively.

It is also important to note that these numbers vary by community, and by price range.  If you would like numbers for your community contact us.

Below is a summary of numbers in chart form.  All numbers are taken from the Calgary Real Estate Boars monthly Stats package.

 

CREB Stats for January of 2021

 

 

 

 

 

 

 

Tags:, , , , , ,
Posted in Blog, Real Estate Board's Statistics | Comments Closed

Calgary Real Estate Board announces Forecast for 2021

Wednesday, January 27th, 2021

Welcome to the Calgary Real Estate Board’s forecast for 2021.

2021 Calgary and Area Real estate Market Prediction

Media release: Modest gains in Calgary housing market expected in 2021  

Calgary, Jan. 26, 2021 – In 2020, housing markets across the country surprised many with a stronger-than-expected rebound in the second half of the year despite record-high unemployment rates and significant job losses.

Calgary did not hit record-high sales or prices in the third or fourth quarters, but still posted some of the strongest sales relative to the past five years. This was nearly enough to offset the initial losses recorded during the first shutdown caused by the pandemic.

“It is expected some of the momentum recorded at the end of 2020 will continue into 2021, fueled by exceptionally low lending rates and pent-up demand,” said Ann-Marie Lurie, CREB® Chief Economist.

“While sales are expected to rise by nearly five per cent on an annual basis in 2021, persistent economic challenges are expected to prevent stronger growth in our housing market.”

Reduction in supply relative to sales is the primary reason the Calgary housing market returned to more balanced conditions by the end of 2020. The pullback in new listings relative to sales activity resulted in inventory levels falling to the lowest levels seen in the past several years.

As we move into 2021, we anticipate new listings will start to rise, as COVID-19 likely caused many homeowners to delay listing their homes. We could start to see some supply come back in 2021, as concerns regarding the spread of the virus ease. Persistently high unemployment rates could also weigh on some existing homeowners who may need to sell their homes.

Growth in supply is expected to offset some of the gains in sales, pushing our market to the upper bounds of balanced conditions and slowing price recovery. However, the price gains that occurred at the end of 2020 are not expected to be eroded and 2021 annual prices are forecasted to improve by over one per cent.

“This year has been filled with twists and turns all over the world. The Calgary housing market was no exception,” said Alan Tennant, CREB® President and CEO.

“However, our local REALTORS® continued to serve at a high level by connecting homebuyers and sellers through this difficult period in a safe and timely manner.”

Click here for the full 2021 Economic Outlook and Regional Housing Market Forecast report.

 

 

 

 

Tags:, ,
Posted in Blog, Real Estate Board's Statistics | Comments Closed

Just Listed: 237 Edgedale Gardens NW Calg. T3M4M8

Thursday, January 14th, 2021

Just listed this awesome Townhouse in Edgemont.  I love that the layout is unique with high Ceilings, Ceilings and Tons of windows.

MLS: A1060281 

Welcome to Edgedale Gardens, a hidden gem in Edgemont.  This 1398 Sq Ft townhouse offers a unique open layout with 3 bedrooms, 2.5 baths and a double garage.   Home has been extremely well maintained with many updates over the years.  Upon entry you cannot help but love the living room with soaring vaulted ceilings and a fireplace, living room and dining room feature a wall of windows giving an abundance of natural light to the main floor.  Upstairs you will find the large master bedroom with walk in closet and a 4-piece ensuite along with 2 additional bedrooms and the main bathroom.  Downstairs is undeveloped and awaits your creative finishing ideas.  Offers a newer concrete patio for your relaxation and BBQ’s.   Edgedale Gardens is Pet Friendly, professionally managed and has a strong reserve fund.  Location is excellent being next to an off-leash park, minutes to Dalhousie C-Train, Nose Hill Park and Crowfoot or Market Mall for shopping. Virtual Showings available!

For more photos or to book a viewing click here. 

 

Tags:, ,
Posted in Blog, Listings, Northwest Condos | Comments Closed

Calgary Real Estate Market Snapshot: Jan 2021

Monday, January 4th, 2021

 What is really happening in the Calgary Real Estate Market?

The market is simply a result of Supply and Demand therefore we look at both Supply (inventory) and Demand (Sales) and the relationship between the two.  We also update you on the current benchmark price for all housing sectors.

Following is a graph that shows the months of inventory for each housing sector.  Looking at a 2-year trendline gives you and indication of where things are really heading.

Months of Listing Inventory

Months of Listing Inventory

 

Following is a summary of what I deem to be the most important numbers.  Again, we look at Total Inventory, Sales for the past 30 days, Months of Inventory and of course the benchmark price.  All numbers are taken from the Calgary Real Estate boards monthly stats package.

Show Listing inventory, Sales, and Benchmark prices for all sectors of the Calgary Real Estate Market.

Gord’s commentary for the month (just my opinion).

Listing inventory decreased by 27% in all Sectors combined while sales also decreased but by only 16.5% from November lowering our months of Inventory and putting Detached and Semi-Detached homes into a seller’s market position.

Covid: Even though we are in a similar lockdown situation as we were in March there does not seem to be the same result in the market falling.  I believe that the public is now aware of the many protocols Realtor’s have put in place to keep both Buyers and Sellers safe. On top of that I believe people are seeing that there is a light at the end of the tunnel with the recent Vaccine announcements.

Calgary Listing Inventory

Listing inventory decreased by 27% in all Sectors combined which is a normal trend for this time of year.  How many people really want their home listed during the holiday season.   by which is 100% normal for the Holiday Season.

 Calgary Sales:

Sales in all sectors dropped in December compared to November – again 100 % normal for December as peoples focus turns on Christmas and away from Real Estate.  It is worth noting that compared to last December sales are up by over 40%.

 Sales Compared to 2019:

It is critical to note that in all my other numbers I look at month over month.  This chart below shows us the numbers this year compared to last year.   Although December sales slowed, we were still 343 sales higher than last year or 40.7% higher.

 

  Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2019 801 973 1327 1544 1915 1775 1642 1580 1365 1438 1146 858
2020 861 1195 1175 573 1080 1747 1835 80 1702 1764 1437 1199
Change +60 +222 -152 -971 -835 -28 +194 -7 337 +326 +327 +343
% change +7.49 +22.8 -11.4 -62.8 -45.5 -1.6 +11.82% N/A 24.87% +22.67% +25.4% =40.7

  

Calgary Year to Date Sales

2019:  16,344 Sales

2020:  16,152 Sales

Therefore, at the end of the Year sales are down only 1.17% from 2019.

 

Calgary Real Estate Benchmark Sales Prices:

All sectors decreased slightly from last month.  Decreases were from $1,300 to $1,800 so very marginal.

 

Calgary Real Estate Sales Prices Year to Date: 2020

Detached homes increased by $10,400

Semi-Detached homes decreased by $800

Attached Row houses decreased by $2,500

Apartment Condos decreased by $4,800

 

Current Months of Inventory (Absorption Rate): 

The months of Inventory decreased in all Sectors.  December saw a large decrease in listings and saw a small decrease in sales.  We are moving into Sellers Market territory in the Detached and Semi-Detached sectors.  Attached Row and Apartment Condo are still in strong Buyers Market Conditions.

 

It is also important to note that these numbers vary by community, and by price range.  If you would like numbers for your community contact us.

 

Tags:, , , , ,
Posted in Blog, Home Sellers, Market Snapshot, Property Values, Real Estate Board's Statistics | Comments Closed

Should I Buy or Sell my home first?

Wednesday, December 30th, 2020

Should I Buy or Sell my home first?

One of the most frequent questions I get as a Realtor is “Should I buy first or should I sell first?   Unfortunately there is no correct answer as it will really depend on your circumstances.  As I cannot simply answer the question for you here I will highlight 3 critical things you may want to consider to help you make your decision.

First is your finances, can you qualify for a  mortgage on a second home? Even if you can qualify for a second mortgage is this something you want to carry?  A catch 22 here is if you want to use the equity out of your current home to buy the new home then financing becomes a challenge as banks will want to sign you up for a full term mortgage. There are other option and this is where you need to speak to a mortgage professional.  Often once clients look at their finances the choice to sell first becomes very clear.

Your second consideration is what is happening in the market?

  •  In a Sellers market you may lean towards buying first as you may have a challenge securing the perfect property with the limited inventory on the market and if priced correctly your home should sell in a very reasonable amount of time.
  • On the other hand if its a strong buyers market then you might lean toward selling first.  In a buyers market homes are harder to sell while buying you have plenty of choice.
  • In a balanced market many will lean towards selling first as this gives you more control of the timing.

Your third consideration is,  how much stress are willing to handle?   In my years of experience there is typically a lot less stress on clients when the sell first and then buy.  You may ask what sort of things might cause stress. Here are just a few:

Having 2 mortgage payments

  • Having to  move twice
  • Your home does not sell as quickly as you thought
  • The market can change in the middle of a transaction

When I have clients asking this question, I first ask them to consider their finances, the market and how much stress they want to manage. If this does not make them 100% clear on their choice here is what we do next.

Knowing the state of the market I will be able to give them a clear picture of what the market is like and how challenging the sale might be.  The other variable is how challenging will it be to find their new home. I will then spend some time probing on the buying side.  Once I get clarity on the specific must haves and like to have in their new home then I can complete a search to determine if there is 1 home that meets their criteria of if there is 100 homes that meet their criteria.  If there are many homes available then I might suggest selling first and if they are looking for something very unique that may be hard to find then for them buying first may be the best strategy.

As there is no answer that is correct for everyone it is important to know whatever choice you make we have several proven strategies to ensure your transaction goes smoothly and stress free.  If you would like a free no obligation consultations simply contact us.

Tags:, , , , ,
Posted in Articles, Blog, Home Sellers | Comments Closed

TSW Real Estate Group Announcement

Tuesday, December 15th, 2020

New Designations 

At TSW Real Estate Group we take our business seriously and understand that the more education we have the better we are able to Serve our Clients.  We are happy to announce that all Agents with TSW Real Estate Group have now received the following 2 new Designations.

SRS:  Sellers Representative Specialist

Seller Representative Specialist

Seller Representative Specialist

ABR: Accredited Buyers Representative

Accredited Buyers Representative

Accredited Buyers Representative

 

This adds to our list of current Designations:

CCS: Certified Condo Specialists

Certified Negotiation Expert

At TSW Real Estate Group – It’s all about you!

 

 

Tags:, ,
Posted in Blog, Condos, Home Buyers, Home Sellers | Comments Closed

Just Listed: 3033 Edenwold Heights NW

Thursday, December 3rd, 2020

Outstanding opportunity in Edgecliffe Estates.  This top floor unit is priced to sell and is a great starter home or  investment.  Open Concept living, a corner kitchen with newer appliances. Living room features a gas fireplace and leads to your covered balcony that faces the mountains.  Bedroom is spacious.  Unit provides In Suite laundry with room for storage.  Complex offers great amenities including a pool, hot tub, exercise room and a social room with a pool table. Fantastic location just 2 minutes to Nose Hill Park, perfect for your outdoor exercise, close to U of C, Children’s hospital, Market mall.

MLS # A1052766

More Information Here 

Attention First Time Home Buyers & Investors

Tags:, , ,
Posted in Blog, Investing, Listings | Comments Closed

« Older Entries
Newer Entries »