Calgary Real Estate Market Snapshot Jan 1, 2018

January 2nd, 2018

What is really happening in the Calgary Real Estate Market?

Absorption Rate

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

Current Absorption Rate

The Absorption rate for November increased in all categories for December.  The number of listings dropped but the number of sales dropped even more.  My concern is that a lot of inventory came off for the holiday season and we may see a ton of listings hit the market in January.  

Nov  2017  Dec  2017  Change
Detached 3.15 3.30 0.15
Semi Detached 4.40 4.64 0.24
Attached – Row 4.60 5.22 0.62
Apartment 6.69 6.99 0.31
Total City 4.01 4.28 0.26

 

Calgary Listing Inventory

In December all categories saw a decrease in the number of listings.  This is normal for this time of year where people will let their listing expire and then put it back on in the new year.

Inventory Nov  2017  Dec  2017  Change
Detached 2758 2033 -725
Semi Detached 555 441 -114
Attached – Row 861 658 -203
Apartment 1491 1182 -309
Total City 5665 4314 -1351

 

Calgary Sales:

Sales for December decreased in all categories.   Of interest our sales in all categories exceeded the sales for Dec 2016.

Total sales Dec 2016:  929

Total sales Dec 2017: 1006

Increase of 8.3%

 

Calgary Sales  Nov  2017  Dec  2017  Change % Change
Detached 875 616 -259 -29.60%
Semi Detached 126 95 -31 -24.60%
Attached – Row 187 126 -61 -32.62%
Apartment 223 169 -54 -24.22%
Total City 1411 1008 -403 -28.56%

 

Calgary Real Estate Sales Prices:

Prices in December dropped a little in all categories.   The highest decreases were in detached and attached-row houses.

  Sales Prices Nov  2017  Benchmark Price   Dec  2017  Benchmark Price Change
Detached 504,000 499,600 -4,400
Semi Detached 417,800 416,600 -1,200
Attached – Row 303,100 299,500 -3,600
Apartment 258,300 257,700 -600
Total City 436,700 433,200 -3,500

 

Sales Prices “Year to Date”  

Well, here is the summary for the year 2017.   Small gains in Detached and Semi-Detached homes and a small reduction in Attached Row with a larger decrease in Apartment Condos.  If you have been watching my report for the year the absorption rate for apartment condos has been very high all year.

Sales Prices Jan 1, 2017    Benchmark Price  Dec  2017  Benchmark Price Change

$

% Change
Detached 498,900 499,600 700 0.14%
Semi Detached 406,200 416,600 10,400 2.56%
Attached – Row 303,100 299,500 -3,600 -1.19%
Apartment 266,500 257,700 -8,800 -3.30%
Total City 434,100 433,200 -900 -0.21%

  **Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

My Prediction for 2018

The big news is that as of yesterday the mortgage rules changed and people will be able to qualify for less mortgage due to the new “Stress Test”

When the government made the same change for 5% Down mortgages we saw little impact in the market so I am predicting little impact on the market due to this.  If anything we will see less sales activity in Detached homes and some buyers will move into attached homes or Townhomes.  Some who could previously qualify for a townhouse may now move into the Apartment Condo sector.  For Calgary if this prediction comes true it could be good as it may balance out the market categories.  Overall I believe that the Calgary Market will continue to pick up momentum through 2018.

Happy New Year, we hope you have an awesome 2018.

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Should You Buy the Latest Home Automation Gadgets?

December 19th, 2017

You’re at work when the thought hits you, “Did I lock the door when I left this morning?”

You check your smartphone, see that you didn’t, and click the “LOCK” button. Now your house is secure. That’s home automation for you! But, is home automation a good idea?

That depends on a number of factors. On the pro side, home automation can improve your quality of life. There are automation products that will adjust heating/cooling depending on whether or not you’re home, make your morning coffee when you get out of bed, and the list goes on and on. These conveniences save you time. Home automation can also give you peace-of-mind. It’s comforting to be able to remotely see the inside of your home and check that everything’s okay.

Home automation can also make your property more appealing to buyers. Traditionally, buyers like homes with security systems, and will appreciate other automation gizmos, too. The only downside is the cost. Like most new technology, home automation products can be pricey and may become out-of-date within just a few years.

Thinking about it? Experts advise you to do your research first. Check out product reviews online. Then, if you determine that a particular product is going to benefit you, go for it!

 

 

 

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Radon Gas Awareness

December 19th, 2017

What Is Radon Gas? 

Radon is an invisible, odourless, and tasteless radioactive gas  found naturally in soil and rock from the breakdown of uranium.   Radon gas may be inside your home and can be a health risk to you and your family.  Long term exposure can lead to lung cancer making it the leading cause of lung cancer among non-smokers.

Why is this important to me? 

In a recent study done by the University of Calgary researchers found that radioactive radon gas exceeds safe levels in one in eight Calgary Homes.   The study found that homes built in the past 25 years had a 31.5% higher average Radon Levels as they are built with tighter seals and have less ventilation than older homes.

How do I know if my home has high levels of Radon gas? 

The only way to know for sure is to have your home tested.  You can buy the test kits anywhere from home depot to The Lung Association.  The Kit from the Lung Association is only $34.99 +$11.95 shipping and includes the kit, instructions and Lab testing fees.  Order your kit here Lung Association

What if my home has high levels of Radon Gas? 

This is the easy part,  home venting to migate high levels of radon usually costs between $2000 to $2500.

If you would like to learn more about Radon Gas here is a great article from the Calgary Herald

 

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Calgary Real Estate Market Snapshot – Dec. 1, 2017

December 2nd, 2017

Absorption Rate Dec. 2017

What is really happening in the Calgary Real Estate Market?

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

What is 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 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

Current Absorption Rate

The Absorption rate for November decreased in all categories except Semi – Detached which rose a little.  In my opinion this is mainly due to listings expiring and not due to sales.  Either way this is good as it is keeping the market fairly balanced. 

Oct  2017  Nov  2017  Change
Detached 3.57 3.15 -0.42
Semi Detached 4.27 4.40 0.13
Attached – Row 5.28 4.60 -0.68
Apartment 7.03 6.69 -0.35
Total City 4.41 4.01 -0.39

 

Calgary Listing Inventory

In November all categories saw a decrease in the number of listings.  This is normal for this time of year where people will let their listing expire and then put it back on in the new year.

Inventory Oct  2017  Nov  2017  Change
Detached 3246 2758 -488
Semi Detached 611 555 -56
Attached – Row 967 861 -106
Apartment 1639 1491 -148
Total City 6463 5665 -798

 

 

Calgary Sales:

Sales for November saw a small decrease overall.  Attached Row homes are the only category to show an increase.  Semi-Detached saw a rather large decrease and it’s my belief that this is simply listings expiring that will be relisted in January.

Of interest Calgary year to date sales are 15% above last year’s sales.

Calgary Sales  Oct  2017  Nov  2017  Change % Change
Detached 908 875 -33 -3.63%
Semi Detached 143 126 -17 -11.89%
Attached – Row 183 187 4 2.19%
Apartment 233 223 -10 -4.29%
Total City 1467 1411 -56 -3.82%

    

Calgary Real Estate Sales Prices:

Prices for November showed a slight decrease in Calgary.  This in my opinion is mainly due to consumer confidence or lack of it.

  Sales Prices Oct  2017  Benchmark Price   Nov  2017  Benchmark Price Change
Detached 506,200 504,000 -2,200
Semi Detached 419,000 417,800 -1,200
Attached – Row 305,000 303,100 -1,900
Apartment 261,600 258,300 -3,300
Total City 438,900 436,700 -2,200

 

Sales Prices “Year to Date”  

Sales Prices Jan 1, 2017    Benchmark Price  Nov  2017  Benchmark Price Change

$

% Change
Detached 498,700 504,000 5,300 1.06%
Semi Detached 406,800 417,800 11,000 2.70%
Attached – Row 302,600 303,100 500 0.17%
Apartment 265,000 258,300 -6,700 -2.53%
Total City 433,400 436,700 3,300 0.76%

 **Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.

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Calgary Real Estate Market Snapshot – Nov. 1, 2017

November 2nd, 2017

Aborsption Rate Trend – Supply Vs Demand 

What is really happening in the Calgary Real Estate Market?

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

Absorption Rate’s Explained  (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 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

Current Absorption Rate

The Absorption rate for October stayed almost flat with the exception of Apartment Condos which decreased by 1.38 which is the first sizable decrease we have seen in this sector in a while.  It’s important to note that last month went up by 1.29 so part of this can be just timing of listing coming on and off the market.

  Sept  2017  Oct  2017  Change
Detached 3.79 3.57 -0.21
Semi Detached 4.31 4.27 -0.04
Attached – Row 5.25 5.28 0.03
Apartment 8.42 7.03 -1.38
Total City 4.69 4.41 -0.29

 

Calgary Listing Inventory

In October all categories stayed flat except for detached homes which saw an decrease of 233 listings and apartment condos which decreased by 129 listings.

Inventory Sept  2017  Oct  2017  Change
Detached 3479 3246 -233
Semi Detached 621 611 -10
Attached – Row 993 967 -26
Apartment 1768 1639 -129
Total City 6861 6463 -398

 

Calgary Sales:

Sales for October were almost identical to September. Last year sales from Sept to Oct increased by 168 so were a little behind last year.

Calgary Sales  Sept  2017  Oct  2017  Change % Change
Detached 919 908 -11 -1.20%
Semi Detached 144 143 -1 -0.69%
Attached – Row 189 183 -6 -3.17%
Apartment 210 233 23 10.95%
Total City 1462 1467 5 0.34%

 

 Calgary Real Estate Sales Prices:

I find these numbers interesting as again if in a balanced market prices should remain fairly stable.  In reality every sector showed a slight decrease.  One variable that these numbers do not show is consumer confidence and I think this may have something to do with prices holding.

  Sales Prices Sept  2017    Benchmark Price   Oct  2017  Benchmark Price Change
Detached 508,900 506,200 -2,700
Semi Detached 419,400 419,000 -400
Attached – Row 306,900 305,000 -1,900
Apartment 263,700 261,600 -2,100
Total City 441,500 438,900 -2,600

 

 Sales Prices “Year to Date”  

Our Year to date numbers are very in alignment with the absorption rate changes.

Sales Prices Jan 1, 2017    Benchmark Price  Oct  2017  Benchmark Price Change

$

% Change
Detached 498,700 506,200 7,500 1.50%
Semi Detached 406,800 419,000 12,200 3.00%
Attached – Row 302,600 305,000 2,400 0.79%
Apartment 265,000 261,600 -3,400 -1.28%
Total City 433,400 438,900 5,500 1.27%

 

Looking Forward – Again just Gord’s opinion.

Based on the absorption rate we should see stability in the Detached & Semi Detached sectors while we may seem more losses in the Row House & Apartment sectors

However

You may have heard by now that the Fed’s are changing mortgage qualifying rules as of Jan 1, 2018.  This can cause a wide range of changes.

  • In the short term it can push people to buy before the end of the year.
  • When they changed the qualifying process for insured mortgages we saw little change in sales numbers.
  • I heard from one mortgage broker that most banks are already doing this for many types of mortgages so again the impact may be smaller than what some expect
  • If there is an impact and people are able to qualify for less, then this may push some people from detached homes to attached homes and from row housing to the apartment condo sector which in Calgary could bring more balance to our market.
  • Really only time will tell the whole story

 

**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let us know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

 

 

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Housing Market Outlook, Fall of 2017 Produced by Canadian Mortgage and Housing Corp (CMHC)

October 27th, 2017

Every quarter CMHC provides a housing outlook report.  In the report you will find

  • New home market
  •  Resale Market
  • Rental Market
  • Economic Trends

The report show stats from the past and future predictions, In my opinion it is a great report.

To see full report click here

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Tips to Winterize your home

October 3rd, 2017

To ensure your home is ready for the winter follow our tips to winterize. Most items you can do yourself but some will require a professional.

  1.  Hose bibs:  Turn off the water to all exterior hose bibs to prevent freezing.  Once water is off open the tap slightly to let water drain.   If you are in a newer home you will likely have a valve inside to drain all the water from the pipes.
  2. Irrigation systems:  If you have an irrigation system it is imperative that you have the lines blown out to remove all moisture from the lines. This again will prevent freezing of the pipes and ensures your system works next year.
  3.  Clean or replace your furnace filter.  Dirty filters make your furnace work harder and reduce its efficiency.
  4.  Have your heating system professionally inspected.  Atco gas will come out and check your system (I believe at no charge).
  5. If you have not done so recently have someone in to clean your vents.  This will reduce dust and give you better quality air inside your home.
  6. Clean your gutters and eavestroughs.  Clean eaves allow for proper flow of water so it does not just run over the gutters and land near your foundation.
  7. Do an  inspection of your windows and doors, are there any cracks or gaps that you can fill to reduce the amount of air that comes in cooling your home.
  8. *** Ensure the grade of your lot is sloping away from your foundation.  Grading towards the home is the number 1 cause of water seeping into basement.
  9. If you have a fireplace, get your Chimney professionally cleaned.  A dirty chimney is a fire hazard.

 

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Calgary Real Estate Market Snapshot – Oct 1, 2017

October 2nd, 2017

Calgary Absorption Rate

What is really happening in the Calgary Real Estate Market?

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

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 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

Absorption Rate

The Absorption rate for September increased in all categories except attached-row homes where it dropped marginally.   The one to note is apartment condos which increased by 1.29 putting us at 8.42 months of inventory.  

  Aug  2017  Sept  2017  Change
Detached 3.32 3.79 0.46
Semi Detached 3.27 4.31 1.04
Attached – Row 5.27 5.25 -0.02
Apartment 7.13 8.42 1.29
Total City 4.13 4.69 0.56

 Calgary Listing Inventory

In September all categories stayed flat except for detached homes which saw an increase of 199 listings.

Inventory Aug  2017  Sept  2017  Change
Detached 3280 3479 199
Semi Detached 585 621 36
Attached – Row 991 993 2
Apartment 1769 1768 -1
Total City 6624 6861 237

 

Calgary Sales:

Sales for September saw a decrease in all categories except attached-row homes which increased by 1.  A decrease at this time of year is fairly normal and I would classify this as simply seasonal.

Of interest Calgary year to date sales are 7% above last year’s sales.

Calgary Sales  Aug  2017  Sept  2017  Change % Change
Detached 987 919 -68 -6.89%
Semi Detached 179 144 -35 -19.55%
Attached – Row 188 189 1 0.53%
Apartment 248 210 -38 -15.32%
Total City 1602 1462 -140 -8.74%

  

Calgary Real Estate Sales Prices:

Okay, I will eat my words here.  Last month I predicted that prices would remain fairly even except for attached – row houses and apartment condos which I said should drop.  As you can see below I was wrong however with the absorption rates I again will predict all categories will remain fairly flat with the exception of apartment condos where a decrease is likely.

  Sales Prices Aug   2017Benchmark Price   Sept  2017  Benchmark Price Change
Detached 510,900 508,900 -2,000
Semi Detached 419,600 419,400 -200
Attached – Row 307,000 306,900 -100
Apartment 263,300 263,700 400
Total City 442,300 441,500 -800

  

Sales Prices “Year to Date”  

Sales Prices Jan 1, 2017    Benchmark Price  Sept  2017  Benchmark Price Change

$

% Change
Detached 498,700 508,900 10,200 2.05%
Semi Detached 406,800 419,400 12,600 3.10%
Attached – Row 302,600 306,900 4,300 1.42%
Apartment 265,000 263,700 -1,300 -0.49%
Total City 433,400 441,500 8,100 1.87%

 **Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

 

TSW Real Estate Group

 

 

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3 Reasons to Talk to a Realtor Today

October 1st, 2017

You might naturally assume that it is most important to talk to a Realtor when you’re selling or buying a home. But there are many other circumstances in which it makes sense to give me a call. Here are a few examples.

1. When you’re at the “thinking about it” stage.  If you’re just thinking about selling your home, and haven’t made a firm decision yet, you might feel uncomfortable calling a Realtor. Don’t be. It’s better to gather the facts to assist you in your decision making,  I welcome your call.  We can discuss what your current property will likely sell for in today’s market, and determine the type of home you qualify to buy. That way, you’ll have some clarity and be able to make a more informed decision.

2. If you’re nervous about the selling process.   If you haven’t sold a home before, you might be concerned about what’s involved in the process. You might even worry that putting your home on the market is going to be a lot of work and create a lot of turbulence for you and your family. Fortunately, selling your home doesn’t need to be scary. In fact, a big part of my job as a Realtor is to make the process as smooth and trouble-free as possible. So if you have concerns about selling your home, you should give me a call.

3. If you have questions You likely have questions about the local real estate scene from time to time. You might have questions like: “How much did that home around the corner sell for?  How is the Market?  Is a condo or a house a better investment.  How much does it cost to build a house in Calgary? There are many types of questions and we will do our best to get you the answers you need.

Contact us

 

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What Do Interior Designers Do?

September 22nd, 2017

If you want to transform a room into something that’s functional, beautiful and perfectly matched to your taste, then you might want to hire an interior designer. It’s an interior designer’s job to come up with imaginative ideas that will wow you. It’s a myth that interior designers just deal with paint colours, décor and furnishings. In fact, according to the Interior Designers Institute, these professionals have the training needed to handle all aspects of a renovation or remodeling project, including selecting and managing contractors. They can direct a project from beginning to end.

If you want to renovate your basement into a stunning home theatre and gathering place, an interior designer can:

• Draw out several concepts for you to choose from

• Purchase the best building materials

• Hire the contractors

Manage the project. He or she can even pick out classic movie pictures for the walls!

If you would like to speak to a local interior designer I would be happy to refer you to one of our partners.

Refer me to a interior designer 

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