Nov 2014, Calgary Real Estate Market Snapshot

December 2nd, 2014

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows 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. A simple way to keep up to date and ahead of most!

Below are the details along with a few comments, all numbers were taken from the Calgary Real Estate Boards Stats package for Realtors.

Want to see stats specific to your Community? Register for our Market Report at http://www.calgaryareasolds.com/

Find out what your Neighbor’s home sold for – Register for our Market Report at http://www.calgaryareasolds.com/

Calgary housing market softens slightly as we approach Christmas. Single family homes and apartment Condos moved slightly toward a balanced market while the Townhouse market went slightly deeper into a Sellers market. Below is a summary of some key areas with a few short comments.

Calgary Listing Inventory: As I would expect all Inventory levels decreased this last month. Inventories typically decrease at this time of year as some people now wait until the New Year to list. Interestingly the decrease was about 40% less than our decrease in November last year.

Inventory	Oct 2014	Nov 2014	Change
Single Family Home	2780	2373	-408
Condo Townhouse	568	511	-57
Condo Apartment	1088	985	-103
Total	4436	3869	-567

Calgary Sales:

Typically at this time of year we also see sales numbers decreasing. Sales in November decreased in all categories. Compared to last year sales from October to November decreased slightly more than last year however sales numbers are still higher than November 2013.

Sales	Oct 2014	Nov 2014	Change	% Change
Single Family Home	1462	1181	-281	-.19
Condo Townhouse	300	277	-23	-.07
Condo Apartment	385	324	-61	-.16
Total	2147	1782	-365	.17

Calgary Real Estate Sales Prices:

In November the benchmark price decreased for single family homes and increased for Townhouses and apartment condos. The change is so small it’s insignificant. December pricing should remain fairly stable. Based on what I am seeing my early prediction for the New Year is for prices to continue to increase for Single family homes, and less so for Townhouses. Apartment condo prices should remain fairly stable as we are in a balanced market state.

Sales Prices	Oct 2014 Benchmark Price	Nov 2014 Benchmark Price	Change
Single Family Homes	513,500	511,300	-2,200
Condo Townhouse	337,800	338,600	+800
Condo Apartment	299,800	300,700	+900

Sales Prices “Year to Date”

Year to date prices – Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices	Dec 31 2013 Benchmark Price	Nov 2014 Benchmark Price	Change $	% Change
Single Family Homes	472,200	511,300	39,100	+9.3%
Condo Townhouse	307,100	338,600	31.500	+10.25%
Condo Apartment	278,600	300,700	22,100	+7.9%

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:

This month the absorption rate increased for Single Family homes and Apartment Condos while Townhouses decreased slightly. This moves Single family homes closer towards a balanced market, Townhouses in a deeper Sellers market and apartment condos move stronger into a balanced market.

Absorption Rate	Oct 2014	Nov 2014	Change
Single Family Homes	1.90	2.01	+.11
Condo Townhouse	1.89	1.84	-.05
Condo Apartment	2.83	3.04	+.21
Total Calgary	2.06	2.17	+.11

**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.

Tags: Calgary Home Prices, calgary real estate, Calgary Real Estate Market, Calgary Real Estate Statitics, CREB STATS
Posted in Blog, Real Estate Board's Statistics | Comments Closed

October 2014, Calgary Real Estate Market Snapshot

November 3rd, 2014

Below are the details along with a few comments, all numbers were taken from the Calgary Real Estate Boards Stats package for Realtors.

Want to see stats specific to your Community? Register for our Market Report at http://www.calgaryareasolds.com/

An interesting month in the Calgary Real Estate market. Apartment Condos and Townhouses continued to slowly shift away from a seller’s market towards a more balanced market. I find it interesting that Single Family homes moved slightly deeper into a Seller’s market. Attached please find a copy of the stats package from the Calgary Real Estate Board for the month of Oct 2014. Below is a summary of some key areas with a few short comments.

Calgary Listing Inventory: Inventory levels typically decrease at this time of year as some people now wait until the New Year to list. That was the case for Single Family homes. Townhouses and Apartment condos increased very slightly but not big enough to make any substantial difference.

Inventory	Sept 2014	Oct 2014	Change
Single Family Home	2961	2780	-181
Condo Townhouse	552	568	+16
Condo Apartment	1081	1088	+7
Total	4594	4436	-158

Calgary Sales:

Typically at this time of year we also see sales numbers decreasing. Sales in October decreased marginally for Townhouses and Apartment Condos while sales for Single Family Homes increased. I believe this may be still a backlog of buyers waiting for the perfect home to come on the market. It is critical to note that even though the sales are decreasing we are still substantially above our sales for 2013.

Sales	Sept 2014	Oct 2014	Change	% Change
Single Family Home	1397	1462	+65	+4.6
Condo Townhouse	318	300	-18	-5.6
Condo Apartment	432	385	-47	-10.9
Total	2267	2147	-120	-5.3

Calgary Real Estate Sales Prices:

In October, the benchmark price increased for all categories. Based on what I am seeing my prediction is for prices to continue to increase for Single family homes, and less so for Townhouses but Apartment condo prices should flatten as they are now in a balanced market state. If you have been following my reports you will notice the increases are continuing to get smaller every month.

Sales Prices	Sept 2014 Benchmark Price	Oct 2014 Benchmark Price	Change
Single Family Homes	512,800	513,500	+700
Condo Townhouse	336,300	337,800	+1500
Condo Apartment	298,800	299,800	+1000

Sales Prices “Year to Date”

Year to date prices – Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices	Dec 31 2013 Benchmark Price	Oct 2014 Benchmark Price	Change$	% Change
Single Family Homes	472,200	513,500	+41,300	8.75
Condo Townhouse	307,100	337,800	+30,700	+9.99
Condo Apartment	278,600	299,800	+21,200	+7.61

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:

This month the absorption rate increased for Townhouses and Apartment Condos and decreased for single family homes. This puts single family homes in more of a sellers market while it puts apartment condos into a balanced market.

Absorption Rate	Sept 2014	Oct 2014	Change
Single Family Homes	2.11	1.90	-.12
Condo Townhouse	1.74	1.89	+.15
Condo Apartment	2.50	2.83	+.33
Total Calgary	2.14	2.06	-.08

Tags: Calgary, Calgary Home Prices, Calgary Housing Market, calgary real estate, Calgary Real Estate Board, Calgary Real Estate Stats
Posted in Blog, Real Estate Board's Statistics | Comments Closed

Existing Home Market Sales Projected to Reach Highest Level on Record

October 31st, 2014

CMHC has just released their Calgary Fall 2014 Housing Market Outlook. They show what has happened and they also predict what they believe is going to happen.

A few interesting tidbits

MLS sales are expected to increase through 2016
New MLS listings are expected to increase through 2016 giving buyers more selection.
Prices in Calgary are expected to rise.

What’s best about this report is that it also gives you they WHY they are making the predictions

If you want to keep on top of the Calgary Housing Market this report is a must read.

Check it out here

Tags: Calgary Housing Market, CMHC Fall Housing Outlook
Posted in Articles, Blog | Comments Closed

Calgary Real Estate Market Snapshot Sept 2014

October 3rd, 2014

Below are the details along with a few comments, all numbers were taken from the Calgary Real Estate Boards Stats package for Realtors.

Want to see stats specific to your Community? Register for our Market Report at http://www.calgaryareasolds.com/

Calgary Listing Inventory: Inventory levels for Single Family homes decreased while everything else increased this month. Typically this time of year we show increases in inventory. Single family home inventory went down which is not normal. I believe the reason is that we still have a large backlog of buyers waiting for the perfect home to come on the market, especially in the starter home price range.

Inventory	Aug 2014	Sept 2014	Change
Single Family Home	3021	2961	-60
Condo Townhouse	437	552	+115
Condo Apartment	1056	1081	+25
Total	4514	4594	+80

Calgary Sales:

Sales in September decreased marginally in all categories. Sales numbers decreasing is very normal at this time of year. It is critical to note that even though the sales are decreasing we are still substantially above our sales for 2013.

Sales	Aug 2014	Sept 2014	Change	% Change
Single Family Home	1477	1398	-79	-5.3
Condo Townhouse	338	318	-20	-5.9
Condo Apartment	452	432	-20	-4.4
Total	2267	2148	-119	-5.2

Calgary Real Estate Sales Prices:

In September, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase moderately for a few more months as we move from a seller’s market to a more balanced market. If you have been following my reports you will notice the increases are continuing to get smaller every month.

Sales Prices	Aug 2014 Benchmark Price	Sept 2014 Benchmark Price	Change
Single Family Homes	512,300	512,800	+500
Condo Townhouse	328,300	330,200	+1900
Condo Apartment	298,200	298,800	+600

Sales Prices “Year to Date”

Year to date prices – Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices	Dec 31 2013 Benchmark Price	Sept 2014 Benchmark Price	Change$	% Change
Single Family Homes	472,200	512,800	+40,600	+8.6
Condo Townhouse	307,100	330,200	+23,100	+7.5
Condo Apartment	278,600	298,800	+20,200	+7.3

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:

This month the absorption rate increased in all categories. For Single Family homes the ratio went up even though our inventory decreased – this is because sales decreased more. Condo Townhouses took the largest jump of .45, I believe this is just catching up as last month it went opposite of everything else.

Absorption Rate	Aug 2014	Sept 2014	Change
Single Family Homes	2.05	2.11	+.06
Condo Townhouse	1.29	1.74	+.45
Condo Apartment	2.33	2.50	+.17
Total Calgary	1.99	2.14	+.15

If you know anyone else who might enjoy seeing our monthly summary please feel free to share

Tags: Calgary, Calgary Home Prices, calgary market, calgary real estate, calgary real estate prices, Calgary Real Estate Stats, Northwest Calgary Real Estate Prices
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CIR REALTY wants to give your local community project, charity or community group $5,000!

September 5th, 2014

CIR REALTY wants to give your local community project, charity or community group $5,000!

Starting September 1st CIR REALTY will be giving out four, $5,000 grants to local community projects and initiatives. All members of the public are encouraged to submit an entry and winners will be decided by public votes!

You can submit your entry to one of four categories:

1. Locally Registered Non-profit grant
2. Community Facility Improvement grant
3. Youth Extracurricular Activities grant
4. Local Sustainability & Conservation grant
Submitting an entry is easy –
just upload a photo and write a brief description and then share your entry with friends and family and encourage them to vote for you!

Whether you have a community garden that needs a little love, a playground that needs to be rebuilt, a swim team that needs funding or a local animal shelter that needs new dog beds, we want to help YOU!

visit www.cirrealty.ca to enter

Tags: CIR Contest, Local community
Posted in Blog, Communities, Uncategorized | Comments Closed

August 2014, Calgary Real estate Market Snapshot

September 1st, 2014

Below are the details along with a few comments, all numbers were taken from the Calgary Real Estate Boards Stats package for Realtors.

Want to see stats specific to your Community? Register for our Market Report at http://www.calgaryareasolds.com/

Calgary Listing Inventory: Inventory levels decreased for marginally in all categories. While this is typical for this time of year the challenge is we are starting with a low inventory so a decrease can push us back towards a stronger Seller’s market. I believe the reason is that we still have a large backlog of buyers waiting for the perfect home to come on the market, especially in the starter home price range.

Inventory	July 2014	Aug 2014	Change
Single Family Home	3056	3021	-35
Condo Townhouse	536	437	-99
Condo Apartment	1070	1056	-14
Total	4662	4514	-148

Calgary Sales:

Sales in August decreased marginally in all categories except apartment condos. Sales numbers decreasing is very normal at this time as people are focused on summer vacations. Apartment condos increased and I believe that’s simply that last month they decreased more than the other categories.

Sales	July 2014	Aug 2014	Change	% Change
Single Family Home	1553	1477	-76
Condo Townhouse	339	338	-1
Condo Apartment	444	452	+8
Total	2336	2267	-69

Calgary Real Estate Sales Prices:

In August, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase for a few more months as we move from a seller’s market to a more balanced market. If you have been following my reports monthly the increase is smaller than what we have been seeing.

Sales Prices	July 2014 Benchmark Price	Aug 2014 Benchmark Price	Change
Single Family Homes	511,600	512,300	+700
Condo Townhouse	327,000	328,300	+1,300
Condo Apartment	298,100	298,200	+100

Sales Prices “Year to Date”

Year to date prices – same as above, Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices	Dec 31 2013 Benchmark Price	Aug 2014Benchmark Price	Change $	% Change
Single Family Homes	472,200	512,300	40,100	+8.5
Condo Townhouse	307,100	328,300	21,200	+6.9
Condo Apartment	278,600	298,200	19,600	+7.0

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:

This month the absorption rate increased for single family homes while it decreased for Townhouses and Apartment Condos. This I find interesting as we have been moving from a strong seller’s market towards a buyer’s market (although slowly). My only explanation here is that there is still a backlog of buyers especially in the starter home price ranges putting more pressure on Condos and Townhouses.

Absorption Rate	July 2014	Aug 2014	Change
Single Family Homes	1.97	2.05	+.08
Condo Townhouse	1.58	1.29	-.29
Condo Apartment	2.40	2.33	-.07
Total Calgary	1.99	1.99	–

If you know anyone else who might enjoy seeing our monthly summary please feel free to share.

Tags: buying a home, Calgary, calgary real estate prices, Calgary Real Estate Stats, Sell my home
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2404, 604 East Lake Blvd Airdrie Ab. T4A 0G6

August 27th, 2014

&Experience life in the Edge Airdrie’s finest. This 2 Bedroom, 2 Bath and den condo with 2 titled

parking stalls is on the top floor. Kitchen with espresso cabinets, granite counter tops and

stainless steel appliances. Living room is open and offers access to balcony. Master bedroom

features walk though closet and full 3 piece ensuite. Second bedroom located on other side of

unit. Features in suite laundry hookup. The Edge is conveniently located right beside Genesis

Place and is convenient to major routes and transit. Cross Iron Mills is minutes away for all your

shopping needs. Check out our video tour at https://www.youtube.com/watch?v=xB0SRBoR99E

MLS # C3633148

Tags: Airdrie condo, Airdrie Real Estate, Condo for sale, Edge Condo
Posted in Blog, Listings | Comments Closed

The Third Quarter 2014 edition of CMHC’s Housing Market Outlook

August 15th, 2014

The Third Quarter 2014 edition of CMHC’s Housing Market Outlook – Canada is now available and can be accessed by clicking on the link below. For full report click
http://www.cmhc-schl.gc.ca/odpub/esub/61500/61500_2014_Q03.pdf

Here is what they say about Alberta

Alberta

Overview Economic growth in Alberta is expected to lead all provinces in Canada over the next two years. GDP is forecast to increase by 3.8 per cent in 2014 and 3.0 per cent in 2015. Higher oil and natural gas prices this year will help increase the value of energy exports and encourage investment in the energy sector. Consumer spending is also projected to rise, supported by strong population growth and rising wages. Labour market conditions in Alberta are projected to remain favourable as the economy generates employment growth of 2.8 per cent in 2014 and 2.2 per cent in 2015.

Alberta’s attraction of new migrants will help expand the labour force and keep the unemployment rate close to its ,current levels. The unemployment rate in Alberta is projected to average 4.6 per cent in 2014 and 4.5 per cent in 2015..After two consecutive years of record net migration, inflows of migrants to Alberta are projected to moderate as economic growth in other jurisdictions improve relative to Alberta. Net migration to Alberta will decline from the record of 102,465 people in 2013 to 79,000 in 2014 and to 64,000 in 2015.

In Detail,

Single Starts: Single-detached starts are forecast to increase from 18,431 units in 2013 to 19,100 in 2014 and then moderate to 18,800 units in ,2015. With active listings in the resale market below that of last year, some ,home buyers will look to the new home market to meet their needs, helping to lift starts this year. By 2015, the declining level of migration, combined with more listings in the resale market and rising new home inventory, are expected to moderate new production. Listings are expected to rise because housing prices in some markets have surpassed prices that last peaked in 2007/2008, thus providing an opportunity for homeowners to move up.

Multiple Starts: Multi-unit starts are projected to rise from 17,580 units in 2013 to 19,500 in 2014 and then ease to 18,000 units in 2015. The lift in multi-unit construction this year is primarily due to increased production in Calgary, where multi-unit starts are projected to attain a 33-year high. The multi-unit inventory has been trending lower over the past two years encouraging new production.

Resales:

MLS® sales are projected to increase to 69,900 in 2014 and to 71,900 in 2015. A large inflow of migrants over the past few years has generated momentum for housing demand. This will help lift sales over the forecast period, as will employment growth and income gains. While MLS® sales are projected to increase in 2015, growth will become more subdued as migration continues to ease.

Prices:

The average MLS® sales price is projected to increase to $396,800 in 2014 and then to $407,000 in 2015. A higher level of demand relative to supply will help lift resale prices in 2014. As 2014 progresses, new listings are expected to increase and continue rising into 2015.

Tags: Alberta housing market, CMHC Forecast, Housing, Housing market Canada, Microsoft Outlook
Posted in Blog, CMHC | Comments Closed

1620, 8710 Horton Road SW Cal Ab. T2V 0P7

August 6th, 2014

Proudly presenting, one of the best unit locations in the sought after London at Heritage. This southwest facing corner unit features panoramic city and mountain views and a large wrap around balcony. This unit is located on the top floor of this section of building, it has no units above it. The Westminster floor plan is bright and open. Extensive upgrades including 9 Ft ceilings, hardwood, ceramic tile, granite counter tops and backsplash, under cabinet lighting, stainless steel appliances, alcoves above closets, recessed lighting in bedrooms, 2 air conditioning units and more. Master features full ensuite bath and the second bedroom features a built in murphy bed. London at Heritage is an environmentally friendly development and is pet friendly. Building features 24 hour security, daytime concierge, roof top patio and a bike storage. Location is fantastic with overpass to C-Train, walking distance to shops, restaurants, gym and pubs. Furniture is also available for sale. View our video tour at http://youtu.be/lxUocbckIKo

MLS C3630029

Tags: Calgary MLS Listing, calgaryforsale, Condo living, London at Heritage
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New Listing @309, 738 3 Avenue SW Calgary Ab T2P 0G7

August 5th, 2014

Welcome to this unique home in the desirable Princes Crossing in Eau Claire. This loft style apt is very bright with windows facing West, North and South, yes that’s right only one common wall and no one living above you. Master bedroom is large, features a 3 piece ensuite bath and offers views to north (Peace Bridge). Kitchen provides open concept and a functional layout. Living room provides views to the west & east and features a balcony. Unit features air conditioning and an oversized parking stall close to the elevator. Amenities include a fully equipped gym, steam room, bicycle storage & Concierge. Other services include beauty/hair salon, mini market, daycare, dry cleaning and Laundry on main floor. Princes Crossing is located in Eau Claire and is steps from bow river and pathway system, shopping, restaurants, theatres & C-Train. Condo fees are all inclusive and include heat & electricity. View our full video tour at http://youtu.be/uajmtePhIZ0

MLS Listing C3629781 – List Price $289,900

Tags: Apt Condo for sale, Calgary MLS Listing, Condo living, Downtown Condo, Eau Claire, Eau Claire metropolitan area
Posted in Blog, Listings | Comments Closed

The Gord Piper & Associates Real Estate Blog

Nov 2014, Calgary Real Estate Market Snapshot

October 2014, Calgary Real Estate Market Snapshot

Existing Home Market Sales Projected to Reach Highest Level on Record

Calgary Real Estate Market Snapshot Sept 2014

CIR REALTY wants to give your local community project, charity or community group $5,000!

CIR REALTY wants to give your local community project, charity or community group $5,000!

August 2014, Calgary Real estate Market Snapshot

2404, 604 East Lake Blvd Airdrie Ab. T4A 0G6

The Third Quarter 2014 edition of CMHC’s Housing Market Outlook

1620, 8710 Horton Road SW Cal Ab. T2V 0P7

New Listing @309, 738 3 Avenue SW Calgary Ab T2P 0G7

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