Calgary Real Estate Market Snapshot for Nov 1, 2023

November 1st, 2023

What is really happening in the Calgary Real Estate Market?

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

Graph of Months of Inventory

Months of Inventory

 

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

October 2023 Highlights

The Calgary Market appears to be slowing a bit, but is it?

  • New listing in October were down 15.9% from September.
  • Sales declined by 11.06%
  • Listing Inventory declined by 5.51%
  • Prices increased moderately.
  • Seller’s market continues….

Calgary Listing Inventory

Our listing inventory remains very low with a total of 3190 listings on the market. This number decreased by 5.31% since September.  It is quite normal that the number of new listings declines at this time of year.

Calgary Sales:

Sales in October were down by 179 or 5.31% from September.  The sectors that saw the largest decreases were Apartment Condos at -76 and Detached Homes at -80.  As I have said many times what is keeping our sales down is our Inventory if there were more listings we would certainly sell more.

Sales Compared to 2022: 

It is also important to look at sales compared to the Previous year. Sales for October were up by 17.1% from last year.  The demand is still very strong so the more we can list the more we sell.

 

  Jan Feb Mar Apr May June
2022 2004 3305 4091 3401 3071 2837
2023 1199 1740 2432 2690 3120 3146
Change -805 -1565 -1659 -711 +57 +309
% Change -40.1% -47.4% -40.55% -20.9% +1.9% +10.9%

 

  July Aug Sept Oct Nov Dec
2022 2249 2133 1893 1855    
2023 2647 2729 2441 2171    
Change +398 +596 +548 316    
% Change +17.7% 27.9% +28.9% +17.1%    

 

Calgary Real Estate Benchmark Sales Prices:

The overall benchmark price saw a slight increase in all sectors this month. The highest increase was $7400 in the Semi-Detached sector followed by $5,800 in the Attached-Row sector.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

For all of Calgary we have so far seen an increase in all sectors of 10.18% or $52,800.

The lowest dollar increases so far has been apartment condos at $41,800 and the highest is Detached homes at $78,000.  It is important to note that this is a Calgary number and each community within Calgary will be different – some higher and some lower.

 

Current Months of Inventory (Absorption Rate): 

Sales numbers decreased more than our listing inventory decreased moving our months of inventory slightly higher for the second month in a row.  All sectors remain in a seller’s market position.

 

My Prediction for what is ahead:  Based on what I am seeing, I believe we are going to see more of the same – so a little less intense competition for the next 2 months.  I predict that once January hits we will increase the number of sales and move into a deeper seller’s market.  This prediction is largely based on what is driving demand (immigration) and I do not see that changing any time soon, I predict sales are going to remain strong and prices are going to continue to trend upwards.

 

Calgary Real Estate Board Stats

Calgary Real Estate Board Stats

 

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October 1, 2023: Calgary Real Estate Market Snapshot

October 5th, 2023

What is really happening in the Calgary Real Estate Market?

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

Calgary Real Estate Board Stats

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

September 2023 Highlights

The Calgary Market is maintaining its strength, with no substantial change.

  • September sales recorded another high at 2441 Sales.
  • New listings increased over August preventing our inventory from declining more.
  • Inventory is 24% lower than last year.
  • Seller’s market continues….

 

Calgary Listing Inventory

Our listing inventory remains very low with a total of 3369 listings but did show a slight increase of 115 listings.  Its important to note that new listings are up, but they are being absorbed so the inventory is not increasing rapidly. Typically, in September we would see inventory rising but that is just not happening.

 

Calgary Sales:

Sales in September were down by 288 or 10.55% from August.  The sectors that saw the largest decreases were Apartment Condos at -170 and Attached Row houses at -60.  As I have said many times what is keeping our sales down is our Inventory if there were more listings we would certainly sell more.

 

 

 

Sales Compared to 2022: 

It is also important to look at sales compared to the Previous year. Sales for September were up by 28.9% from last year.  I attribute this to an increase in listings.  The demand is certainly still large so the more we can list the more we sell.

 

  Jan Feb Mar Apr May June
2022 2004 3305 4091 3401 3071 2837
2023 1199 1740 2432 2690 3120 3146
Change -805 -1565 -1659 -711 +57 +309
% Change -40.1% -47.4% -40.55% -20.9% +1.9% +10.9%

 

  July Aug Sept Oct Nov Dec
2022 2249 2133 1893      
2023 2647 2729 2441      
Change +398 +596 +548      
% Change +17.7% 27.9% +28.9%      

 

Calgary Real Estate Benchmark Sales Prices:

Surprise, the overall benchmark price remained almost flat this month showing a decrease of $400.  In my opinion we should have seen a rise since we are still in a seller’s market position.  I Believe this may have been just a little bounce back from last month.

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

For all of Calgary we have so far seen an increase in all sectors of 9.93% or $51,500.

The lowest dollar increases so far has been apartment condos at $38,000 and the highest is Detached homes at $76,500.  It is important to note that this is a Calgary number and each community within Calgary will be different – some higher and some lower.

 

Current Months of Inventory (Absorption Rate): 

Months of Inventory increased a little in all sectors.  The largest increase is in apartment condos (.35) and Semi-Detached (.29) while detached homes and Row Homes stayed flat.

My Prediction for what is ahead:  Based on what is driving demand (immigration) and I do not see that changing any time soon, I predict sales are going to remain strong and prices are going to continue to trend upwards although based on trends I see us slowly climbing out of the seller’s market, but it will likely take months.

 

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

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

Months of Inventory

 

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Sept 1, 2023 Calgary Real Estate Market Snapshot

September 2nd, 2023

What is really happening in the Calgary Real Estate Market?

 

Months of Inventory

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

August 2023 Highlights

The Calgary Market is maintaining its strength, with no substantial change.

  • August sales reached a record high with 2729 sales.
  • August inventory dropped to a record low of 3254 units, well below the 6000 units typically available.
  • Prices continue to increase.
  • Seller’s market continues.

Calgary Listing Inventory

Our listing inventory remains very low with a total of 3254 listings on the market, a decrease of 234 units since August 1st.   Its important to note that new listings are up, but they are being absorbed so the inventory is not increasing. Typically, in August we would see inventory rising but that is just not happening.

Calgary Sales:

Sales in August were up by 82 or 3.1% over July.  The largest sales increase was in the Apartment condo sector at 13.47%.

Sales Compared to 2022: 

It is also important to look at sales compared to the Previous year. Sales for August were up by 27.9% from last year.  I attribute this to an increase in listings.  The demand is certainly still large so the more we can list the more we sell.

 

  Jan Feb Mar Apr May June
2022 2004 3305 4091 3401 3071 2837
2023 1199 1740 2432 2690 3120 3146
Change -805 -1565 -1659 -711 +57 +309
% Change -40.1% -47.4% -40.55% -20.9% +1.9% +10.9%

 

  July Aug Sept Oct Nov Dec
2022 2249 2133        
2023 2647 2729        
Change +398 +596        
% Change +17.7% 27.9%        

 

Calgary Real Estate Benchmark Sales Prices:

The overall benchmark price continues to increase. The overall benchmark price increased by$3000 or .53%.   The increase in Benchmark was consistent across all Sectors.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

For all of Calgary we have so far seen an increase in all sectors of 10% or $51,900.

The lowest dollar increases so far has been apartment condos at $34,300 and the highest is Detached homes at $77,100.  It is important to note that this is a Calgary number and each community within Calgary will be different – some higher and some lower.

 

Current Months of Inventory (Absorption Rate): 

Months of Inventory has decreased in all but the Semi-Detached sector which saw a very small increase. This decrease is a change from last month when months of inventory rose.

My Prediction for what is ahead:  Based on what is driving demand (immigration) and I do not see that changing any time soon, I predict sales are going to remain strong and prices are going to continue to trend upwards although based on trends I see us slowly climbing out of the seller’s market, but it will likely take months.

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

 

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

Calgary Real Estate Board Stats

Calgary Real Estate Board Stats

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Getting Your Home Ready to Shine: Seller’s Guide to Preparing for a Successful Sale

August 29th, 2023

Selling your home is a significant step, and making a great first impression is key to attracting potential buyers. By preparing your home properly, you can increase its appeal and potentially secure a faster sale at the best possible price. As a seasoned Realtor in Calgary, Alberta, I’m here to guide you through the process of getting your home ready to shine. Let’s dive into some essential tips for preparing your home for a successful sale:

1. Start with a Fresh Perspective: Take a step back and look at your home through the eyes of a potential buyer. Notice areas that could use improvement and address them proactively.

2. Declutter and Depersonalize: Remove excess items and personal touches. A clutter-free and neutral space allows buyers to envision themselves living in the home.

3. Deep Clean Every Nook and Cranny: A sparkling clean home sends a strong message to buyers. Clean carpets, windows, appliances, and all surfaces thoroughly.

4. Enhance Curb Appeal: The exterior is the first thing buyers see. Trim bushes, mow the lawn, repaint the front door, and add potted plants to create an inviting entrance.

5. Tackle Repairs and Maintenance: Fix leaky faucets, squeaky doors, and any other minor issues. Addressing these repairs shows that your home has been well-maintained.

6. Neutralize and Paint: Consider painting rooms with neutral colors. This helps buyers visualize their belongings in the space and gives a fresh, clean look.

7. Stage for Success: Staging can transform your home, making it more appealing and helping buyers imagine its full potential. Arrange furniture to showcase the room’s function and create a warm atmosphere.

8. Maximize Natural Light: Open blinds and curtains to let in natural light. Well-lit spaces appear larger and more welcoming.

9. Minimize Odors: Unpleasant odors can be a turnoff for buyers. Use air fresheners, bake cookies before showings, and keep pet areas clean and odor-free.

10. Highlight Key Features: If your home has standout features like a fireplace, vaulted ceilings, or a stunning view, make sure these are showcased prominently during showings.

11. Organize Storage Spaces: Buyers will open closets and cupboards, so ensure these spaces are tidy and well-organized to give the impression of ample storage.

12. Consider Professional Photography: High-quality photos are essential for online listings. Consider hiring a professional photographer to capture your home’s best angles.

13. Gather Documents: Compile important documents related to your home, such as warranties, manuals, and utility bills. Buyers appreciate having this information readily available.

14. Be Flexible with Showings: Try to accommodate potential buyers’ schedules as much as possible. The more flexible you are, the easier it will be for interested parties to view your home.

15. Consult a Realtor: Enlist the help of a skilled Realtor like myself who knows the local market. A Realtor can provide valuable insights, pricing guidance, and marketing strategies.

By following these steps, you’ll be well on your way to preparing your home for a successful sale. Remember that first impressions matter, and investing time and effort into presenting your home in the best possible light can significantly impact its appeal to potential buyers. If you’re ready to take the next step, don’t hesitate to reach out to me for personalized guidance and support throughout the selling process. Together, we’ll work towards a smooth and lucrative sale in Calgary’s dynamic real estate market.

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Just Listed – Richmond Calgary

August 25th, 2023

Check out this new listing in Richmond, Calgary

MLS : A2076149

List Price: $575,000

Sneak Peek Video: https://youtube.com/shorts/M0BNG_AOHx8

Open House Saturday & Sunday August 26 & 27 from 2:00 to 5:00

 

Awesome Value in the Inner city property.

 

Proudly Presenting 2642 25A Street SW, a meticulously maintained 2-storey residence that exudes pride of ownership in every corner. This captivating home, located just minutes away from downtown Calgary, offers over 2300 square feet of thoughtfully developed living space. From the moment you step through the entrance, you’ll be captivated by the warmth and elegance that radiate throughout. As you enter, the inviting living room welcomes you with its exquisite hardwood flooring and abundant natural light streaming through the large windows. The living room serves as a comfortable gathering space for family and friends to enjoy quality time. Adjacent to the living room, the spacious dining room beckons, perfect for hosting memorable family dinners or entertaining guests. The generously sized kitchen boasts ample space and features an additional dining nook, creating a cozy spot for casual meals. From here, step out to your private yard, complete with a deck and natural gas hookup for your BBQ, an idyllic setting for outdoor gatherings and relaxation. Venture upstairs to discover the expansive primary bedroom, where vaulted ceilings add an air of grandeur. The primary bedroom also boasts a well-appointed 4-piece ensuite and a substantial walk-in closet. To enhance your living experience, the primary bedroom offers access to a private balcony, allowing you to bask in the beauty of Calgary’s evenings. Completing the upper level are two more inviting bedrooms, perfect for family members, guests, or a home office. The main bathroom, conveniently equipped with laundry facilities, adds a touch of practicality to this level. The lower level of this remarkable home features an illegal suite with a separate entrance, offering versatile options for your living needs. A spacious living room welcomes you, accompanied by a full kitchen that allows for self-sufficient living. The bedroom (please note that the window might not meet code regulations), a four-piece bathroom, and in-suite laundry facilities round out the suite’s offerings. The property includes a single garage and an additional parking pad, ensuring ample space for your vehicles. The furnace was thoughtfully replaced in 2013. Situated mere minutes from downtown Calgary, this residence enjoys close proximity to transit options, LRT stations, and vibrant destinations like Marda Loop, where shopping, dining, and entertainment abound. With easy access to recreational facilities, swimming, golf, and more, this home offers a balanced and fulfilling lifestyle. Don’t miss the opportunity to make this elegant house your new home. Schedule a viewing today.

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Calgary Real Estate Market Snapshot – Aug 1, 2023

August 1st, 2023

What is really happening in the Calgary Real Estate Market?

 

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

Months of Inventory

 

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

July 2023 Highlights

The Calgary Market is maintaining its strength, although there are signs of change on the horizon.

  • Sales were the strongest July on record.
  • Months of Inventory increased by .22 for the month.
  • We remain in a deep seller’s market.

Calgary Listing Inventory

Our listing inventory remains very low with a total of 3488 listings on the market, an increase of 30 since July 1, 2023.  Its important to note that new listings are trending slightly up, but they are being absorbed so the inventory is not increasing at a pace we typically expect at this time of the year.

Calgary Sales:

Sales in July were 2647 making this the best July on record with the Calgary Real Estate Board.   Sales were down by 499 compared to June but it is normal that once we hit July sales decline every month until the end of the year.  What’s interesting is that sales were 309 higher than last year.

 

Sales Compared to 2022: 

It is also important to look at sales compared to the Previous year. Sales for April were 711 less than last year. Again, in my opinion this is simply due to not having enough Inventory on the market.

  Jan Feb Mar Apr May June July
2022 2004 3305 4091 3401 3071 2837 2249
2023 1199 1740 2432 2690 3120 3146 2647
Change -805 -1565 -1659 -711 +57 +309 +398
% Change -40.1% -47.4% -40.55% -20.9% +1.9% +10.9% +17.7%

 

Calgary Real Estate Benchmark Sales Prices:

The overall benchmark price continues to increase. The overall benchmark price increased by $3000 or .53%. The largest gain was in the Attached -Row sector with an increase of $7,500 which happens to be the same sector that saw the smallest increase in months of inventory.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

For all of Calgary we have so far seen an increase in all sectors of 9.43% or $48,900. The lowest dollar increases so far has been apartment condos at $31,100 and the highest is Detached homes at $70,900.

 

Current Months of Inventory (Absorption Rate): 

Months of Inventory has increased for the second month in a row, which tells me that the direction is changing.  Our overall months of inventory is 1.32. Months of inventory below 2.5 indicates a seller’s market so we are still deep in a seller’s market.  The largest increase in Months of Inventory was in the Detached sector increasing by .35. Note the Attached-Row sector saw the smallest increase of .10.

 

My Prediction for what is ahead:  Based on what is driving demand (largely immigration) and I do not see that changing any time soon, I predict sales are going to remain strong and prices are going to continue to trend upwards although based on trends I see us slowly climbing out of the seller’s market.

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

See Stats from the Calgary Real Estate Market Below

Calgary Real Estate Board Stats

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Calgary Real Estate Market Snapshot, July 1, 2023

July 4th, 2023

What is really happening in the Calgary Real Estate Market?

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

Months of Inventory

 

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

May 2023 Highlights

The Calgary Market is continuing at a blistering pace!

  • Another new sales Record – 3146 Sales
  • Prices continue the upward trend.
  • New listings increased resulting in a sale increase.
  • Listing inventory remains very low.

 

Calgary Listing Inventory

Our listing inventory remains very low with a total of 3457 listings on the market, an increase of 251 since June 1, 2023.  Its important to note that new listings are trending slightly up, but they are being absorbed so the inventory is not increasing like we typically expect at this time of the year.

 

Calgary Sales:

Sales in June set another new record high with 3146 sales, an increase of 26 sales from May.  What is interesting is that sales in June were 309 above June sales which is 10.9% higher than last year. I still believe that one of the largest reasons for the continuous increase in sales in the increased level of immigration. For the time being I do not see anything that is going to change that trend so I predict we will continue to see strong sales at least through the end of this year.

 

Sales Compared to 2022: 

It is also important to look at sales compared to the Previous year. Sales for April were 711 less than last year. Again, in my opinion this is simply due to not having enough Inventory on the market.

 

  Jan Feb Mar Apr May June July
2022 2004 3305 4091 3401 3071 2837  
2023 1199 1740 2432 2690 3120 3146  
Change -805 -1565 -1659 -711 +57 +309  
% Change -40.1% -47.4% -40.55% -20.9% +1.9% +10.9%  

 

 Calgary Real Estate Benchmark Sales Prices:

The overall benchmark price continues to increase. The overall benchmark price increased by $7,700 or 1.38% All sectors increased fairly equally.

 

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

For all of Calgary we have so far seen an increase in all sectors of 8.85% or $45,900. The lowest dollar increases so far has been apartment condos at $28,400 and the highest is Detached homes at $65,500.

 

 Current Months of Inventory (Absorption Rate): 

Months of Inventory has finally started to turn the corner with an overall increase from 1.03 to 1.10 which still leaves us in a deep Sellers Market.

My Prediction for what is ahead:  Based on what is driving demand (immigration) and the fact I do not see that changing any time soon, I predict sales are going to remain strong and prices are going to continue to trend upwards.  One thing I am seeing on the street is even though we are still in a very strong sellers market, the  buyers are starting to act much more cautiously and while their offers are still often coming in above list price they are coming in only a little above list compared to what I was seeing a few months ago.

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

*All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

 

Calgary Real Estate Board Stats

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Calgary Real Estate Market Snapshot – June 1, 2023

June 1st, 2023

What is really happening in the Calgary Real Estate Market?

 

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

Months of Inventory

Months of Inventory

 

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

May 2023 Highlights

The Calgary Market is continuing at a blistering pace!

  • Months of Inventory declines again
  • Prices continue the upward trend.
  • New listings increased resulting in a sale increase.

 

Calgary Listing Inventory

There were only small changes in the listing inventory for the month resulting in 31 less listings as of today compared to May 1, 2023

 

Calgary Sales:

Sales increased in all sectors this month.  The overall increase was 15.99% The different sectors ranged from 13.78% for detached homes to 19.47% for Attached-Row.  In my opinion the cause of the increase in sales is because we had substantially more new listings hit the market this month. New listings went from 3132 in April to 3652 in May.  Sales should continue to be strong as the demand seems to be much higher than the supply.

 

Sales Compared to 2022: 

It is also important to look at sales compared to the Previous year. Sales for April were 711 less than last year. Again, in my opinion this is simply due to not having enough Inventory on the market.

  Jan Feb Mar Apr May June July
2022 2004 3305 4091 3401 3071 2842 2254
2023 1199 1740 2432 2690 3120
Change -805 -1565 -1659 -711 +57
% Change -40.1% -47.4% -40.55% -20.9% +1.9%

 

 Calgary Real Estate Benchmark Sales Prices:

The overall benchmark price increased by $6,200 in May.  The largest increase was in the detached sector at $12,100 and the smallest increase was in the Apartment Condo sector at $4,500.  My predictions are that this trend will continue as the months of inventory is still very low putting us in deep seller’s market territory.

Calgary Real Estate Benchmark Year to Date Sales Price:  See chart below.

For all of Calgary we have so far seen an overall increase of 7.36% or $38,200. The lowest dollar increases so far has been apartment condos at $23,800 and the highest is Detached homes at $54,400.

 

Current Months of Inventory (Absorption Rate): 

Months of Inventory decreased again in all sectors making things even tighter.

My Prediction for what is ahead:  Being that we are in a deep Sellers Market, we will continue to see prices increasing. As we have seen all new inventory get sold right away and no net gain, I still have to say this trend is going to continue for the next several months.

 

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

 

All numbers vary by community and price ranges, if you would like stats specifically for your neighbourhood, please contact us.

 

 

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Just listed: 28 Copperstone Gardens SE Calgary, Ab. T2Z 0R6

May 26th, 2023

Just listed this awesome family home in Copperfield Calgary

List Price only 539,000

Full Brochure at https://www.tswrealestategroup.com/for-sale/28-copperstone-gardens-se–82543387

Just Listed

 

For more information or to view this home please contact us 

 

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Just Listed – Great family home at 5004 Nanton Drive NW Calgary Ab. T2K 2N2

May 26th, 2023

Just Listed this Gem in North Haven Calgary.

List Price only: $530,000

Full Brochure: https://www.tswrealestategroup.com/for-sale/5004-nanton-road-nw–82508822

You Tube Video: https://youtu.be/mwPZNP4wxuc

Just Listed

Just Listed

For more details or to view this great home contact us

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