Calgary Real Estate Market snapshop updated Feb 3, 2014

February 3rd, 2014

Want to know what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   A simple way to keep up to date on the Market.  The Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales and I do not see that changing anytime soon.

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

Below is a summary of some key areas with a few short comments.  The Calgary housing market started off the year on a strong note with sales 11.1% higher than in January 2013.  We are still in a very strong seller’s market position.

Calgary Listing Inventory:  Inventory levels increased slightly this month which is very normal for this time of year as the holidays are behind us.  There is still a shortage of homes on the market and the good ones are selling very fast.

Inventory 

December   2013  

January   2014   

Change

Single Family Home

1515

1671

+156

Condo  Townhouse

242

277

+35

Condo  Apartment

479

577

+98

Total

2236

2525

+289

 

Calgary Sales: 

Sales in January increased in every category over last month which is to be expected at this time of year.  It is also important to note that sales in January were 17% higher than sales in January  2013.  I believe that as we get more listings on the market sales will continue to rise as there is a pent up demand.

Sales

December   2013 

January   2014   

Change  

%   Change

Single Family Home

744

974

+230

+31.0%

Condo  Townhouse

179

206

+27

+15.0%

Condo Apartment

221

260

+29

+18.0%

Total

1144

1,440

+296

+26%

  

Calgary Real Estate Sales Prices:  

In January, the benchmark price increased for all categories except.  As long as our ratio of sales to listings remains the same this upward trend will continue.

Sales Prices

December 2013

Benchmark Price

January 2014

 Benchmark   Price  

Change  

Single Family Homes

472,200

476,700

+$4,500

Condo Townhouse

307,100

308,100

+$1,000

Condo  Apartment

278,600

280,600

+$2,000

  

Sales Prices “Year to Date”   

Year to date prices – same as above have increased in all categories.  Good news if you are a homeowner and not so good news for those wanting to get into the market.

Sales Prices Dec  31 2013  Benchmark Price 

January 2014 Benchmark Price 

Change

$  

%   Change

Single Family Homes

472,200

476,700

+$4,500

+1%

Condo Townhouse

307,100

308,100

+$1,000

Condo  Apartment

278,600

280,600

+$2,000

+1%

  

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:   The numbers are still going down which is putting us in more of a seller’s market position and I don’t see that changing anytime soon.  In the starter home price range we are still seeing lots of competing offers.

Absorption Rate  

December 2013   

January 2014  

Change  

Single Family Homes

2.03

1.71

-.32

Condo Townhouse

1.35

1.34

-.1

Condo  Apartment

2.17

2.21

+.04

Total Calgary

1.96

1.75

-.21

**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.

 

Please feel free to pass this on. Gord, Eric & Brent

 

Calgary Real Estate Market Snapshot updated Jan 2014

January 1st, 2014

Want to know what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   A simple way to keep up to date on the Market.  The Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales and I do not see that changing anytime soon.

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

Calgary Listing Inventory:  Inventory levels for all categories dropped substantially this last month.  This is simply a seasonal adjustment that happens every year. In the next few days listings will start to hit the market bringing these numbers right back up.

Inventory 

November  2013    

December   2013   

Change

Single Family Home

2171

1515

-656

Condo  Townhouse

380

242

-138

Condo  Apartment

605

479

-126

Total

3156

2236

-920

 

Calgary Sales: 

Sales in December declined in all categories and again this is very normal for the month of December. Considering the weather I think we faired well.  It is also important to note that sales in December were 8.3% higher than in December 2012.  I am very confident that January’s numbers will be much higher.

Sales

November   2013 

December   2013  

Change  

%   Change

Single Family Home

1006

744

-262

-26.0

Condo  Townhouse

228

179

-49

-21.5

Condo Apartment

305

221

-84

-27.5

Total

1539

1144

-395

-25.6

 

 Calgary Real Estate Sales Prices:  

In December, the benchmark price increased for all categories except apartment Condos which saw a small decrease.  As long as our ratio of sales to listings remains the same this upward trend will continue.

 

Sales Prices

November 2013

Benchmark Price

December 2013

 Benchmark   Price  

Change  

Single Family Homes

470,600

472,200

+$1,600

Condo Townhouse

305,700

307,100

+$1,400

Condo  Apartment

279,600

278,600

-$1,000

 

Sales Prices “Year to Date”   

Year to date prices have increased in all categories.  Good news if you are a homeowner and not so good news for those wanting to get into the market.

Sales Prices Dec  31 2012  Benchmark Price 

Dec 31. 2013

Benchmark Price   

Change

$  

%   Change

Single Family Homes

434,800

472,200

+37,400

+8.6%

Condo Townhouse

284,100

307,100

+23,000

+8.1%

Condo  Apartment

248,700

278,600

+29,900

+12.0%

 

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 doesn’t tell us much this month as December is a funny month where lots of people take their home off the market for the holidays and then relist in Jan.   We are still in a strong seller’s market position and I don’t see that changing anytime soon.  In the starter home price range we are still seeing lots of competing offers.

Absorption Rate  

November 2013   

December 2013  

Change  

Single Family Homes

2.15

2.03

-.12

Condo Townhouse

1.67

1.35

-.32

Condo  Apartment

1.98

2.17

+.19

Total Calgary

2.05

1.96

-.09

**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.

 

If you know anyone else who might enjoy seeing our monthly summary please feel free to pass this on. Gord, Eric, Brent & Jason

Work with neighbours to prevent break-ins – Stay safe this Christmas

December 14th, 2013

Christmas time offers an opportunity for some nice gifts for the wrong people.  There are few things more traumatic than a home burglary. That’s why it makes sense to invest in good locks and, if necessary, a good alarm system.

There are also ways to work with your neighbor’s to prevent these crimes from occurring. In fact, police say that watchful eyes are one of the best ways to deter burglars on the prowl.

Police recommend that you know the names of all the neighbor’s adjacent to your property. Get in the habit of watching each other’s homes. Stay alert to cars and people lingering around that don’t seem to belong.

Another strategy is to set up a community Facebook page. That way, when someone sees something suspicious in the neighborhood, they can immediately notify everyone by posting a Facebook message.

Finally, don’t be a stranger. It has been proven that the better neighbor’s know one another, the lower the crime rate is in the area.

Happy Holliday’s

How a Home Inspection Helps You

December 10th, 2013

How a Home Inspection Helps You

Whether you’re considering buying a particular home, selling your current property – or both – a home inspection can help.

 

A home inspection is an inspection by a qualified professional who takes a close look at every aspect of a home – structure, wiring, plumbing, and more – and identifies issues you may not have noticed yourself. For example, a home inspection can reveal that a furnace will need to be replaced soon, or that there is a water leak into the basement that needs to be fixed.

You’ll definitely want to get a professional home inspection before you buy a particular property. That’s why almost 100% of offers to purchase a home are conditional upon passing a home inspection. (The last thing you want is to buy your dream home only to discover that the wiring needs to be updated!)

Some Sellers like to get a home inspection on their own home before listing it for sale.  This helps to identify issues a potential buyer may find so that you don’t lose out on any potential buyers.  This is done more when it is a Buyers market and right now in Calgary that is not the case – we are very much in a sellers market.

Many reputable home inspectors are members of a professional industry association.

• Canada Association of Home & Property Inspectors. (http://www.cahpi.ca)

• Professional Home and Property Inspectors of Canada. (http://www.phpic.ca)

• National Home Inspectors Certification Council. (http://www.nationalhomeinspector.org)

In my opinion it is not just important to find a licensed home inspector but to find someone with a construction or building background.

It’s important to note that licensing is now a requirement in Calgary and Alberta wide.  So select a home inspector carefully.

Need to find a reputable home inspector? Call today.

November 2013 Calgary Real Estate Market Snapshot

December 2nd, 2013

Want to know what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   In summary the Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales.

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

Calgary Listing Inventory:  Inventory levels for all categories dropped substantially this month.  In my opinion this is of no concern and is simply a seasonal trend.  We will see a further decrease in December and then in Jan it should start to increase again.   Very few people want to list their home during the holiday season.

Inventory 

October   2013   

November    2013   

Change

Single Family Home

2705

2171

-534

Condo  Townhouse

444

380

-64

Condo  Apartment

692

605

-87

Total

3841

3156

-685

 

Calgary Sales: 

Sales in November declined at almost the same as rate that inventory dropped.  Traditionally this time of year we start to see sales slowing so again I’ll call it a seasonal trend.

Sales

October    2013  

November    2013  

Change  

%   Change

Single Family Home

1336

1006

-330

-24.7

Condo  Townhouse

280

228

-52

-18.9

Condo Apartment

337

305

-32

-9.4

Total

1953

1539

-414

-21.1

 

 Calgary Real Estate Sales Prices:  

In November, the benchmark price increased for all categories. As long as our ratio of sales to listings remains the same this trend will continue.

Sales Prices

October  2013

Benchmark Price

November  2013  

 Benchmark   Price  

Change  

Single Family Homes

468,000

470,600

+2,600

Condo Townhouse

302,200

305,700

+3,500

Condo  Apartment

276,100

279,600

+3,500

 

Sales Prices “Year to Date”   

Year to date prices have increased in all categories.

Sales Prices Dec  31 2012  Benchmark Price 

November 2013

Benchmark Price   

Change  

%   Change

Single Family Homes

434,800

470,600

+35,800

+8.2%

Condo Townhouse

284,100

305,700

+21,600

+7.6%

Condo  Apartment

248,700

279,600

+30,900

+12.4%

 

Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market

>4.0

Balanced Market

Between 2.8 to 4.0

Seller’s Market

<2.8

 

Absorption Rate:  Throughout November our absorption changed but only marginally. We are still in a strong seller’s market position.  In the starter home price range we are still seeing lots of competing offers.

Absorption Rate  

October  2013  

November 2013  

Change  

Single Family Homes

2.02

2.15

+.13

Condo Townhouse

1.58

1.67

+.09

Condo  Apartment

2.05

1.98

-.07

Total Calgary

1.97

2.05

+.08

**Please note that these numbers do change on a community basis and more so for towns.  If you would like to find stats or absorption rate for  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

171 Rocky Ridge Landing NW Calgary Ab. T3G 4J7

November 15th, 2013

Pride of ownership shows in this beautiful executive style fully finished bungalow with over 2800 square feet of developed living area located on cul de sac.  Features of this custom home include vaulted ceilings throughout, rounded corners, central air, large windows and skylight that provide lots of natural light.   Carpet is new throughout. On the main floor you will find the grand vaulted entrance, formal dining room, living room with fireplace, den and an open kitchen featuring a large island with eating bar, plenty of cabinets for storage, pantry and patio doors leading to your deck. Main floor master bedroom features a walk in closet and full ensuite bath.  Complete the main floor with laundry and a 2 piece bath.  Downstairs is very usable space as it features very large windows and 9 foot ceilings. Downstairs you will find a games room, pool table , wet bar, and living room with a stone fireplace and a bedroom and  hobby room.  Priced to sell at $550,000.  MLS listing C3592372.  Check out our video tour at http://youtu.be/KWKKT1r1qb8

002 - Open2view ID3838 - 171 Rocky Ridge Landing NW

November 2013 Monthly Real Estate Market Snapshot

October 31st, 2013

Want to know what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   In summary the Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales.  This month put the market into an even stronger Sellers position.

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

Calgary Listing Inventory:  Inventory levels for all single family homes dropped a little while all townhouses and apartment condos remained almost flat this month.

Inventory 

September 2013      

October 2013   

Change

Single Family Home

2789

2705

-84

Condo    Townhouse

450

444

-6

Condo    Apartment

683

692

+9

Total

3922

3841

-81

 

Calgary Sales: 

Sales in October were almost the same as in September.  Traditionally this time of year we start to see sales slowing.

Sales

September  2013  

October  2013  

Change

% Change

Single   Family Home

1354

1336

-18

-1.3

Condo  Townhouse

245

280

+35

+1.4

Condo   Apartment

324

337

+13

+.04

Total

1923

1953

+30

+.15

  

Calgary Real Estate Sales Prices:  

In October, the benchmark price increased for all categories. As long as our ratio of sales to listings remains the same this trend will continue.

Sales Prices

September  2013

Benchmark Price

October  2013

 Benchmark Price  

Change

Single   Family Homes

463,700

468,000

+4,300

Condo   Townhouse

299,100

302,200

+3,100

Condo  Apartment

272,900

276,100

+3,200

  

Sales Prices “Year to Date”   

Year to date prices have increased in all categories.

Sales Prices Dec  31 2012    Benchmark Price 

October 2013

Benchmark Price 

Change

% Change

Single   Family Homes

434,800

468,000

+33,200

+7.6

Condo   Townhouse

284,100

302,200

+18,100

+6.3%

Condo  Apartment

248,700

276,100

+27,400

+11.1%

  

Absorption Rate Defined: (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market

>4.0

Balanced Market

Between 2.8 to 4.0

Seller’s Market

<2.8

 

Absorption Rate:  Throughout September our absorption rate decreased in all categories putting the market even more in favour for sellers.  Especially in the starter home price range we are starting to see lots of competing offers.

Absorption Rate  

September 2013 

October  2013  

Change

Single   Family Homes

2.06

2.02

-.04

Condo   Townhouse

1.84

1.58

-.26

Condo  Apartment

2.1

2.05

-.05

Total   Calgary

2.04

1.97

-.07

**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.

Search MLS Listings on our website at www.gordpiper.com or at www.gordpiper.ca

Search MLS on your mobile: Download our App at : http://apptechsolution.co/gordpiper

 

Excellent Investment, Fantastic Townhouse for only $279,900

October 17th, 2013

Pride of ownership shows in this beautiful 3 bedroom Townhome.  This home has been well maintained and is well laid out with an open concept. Kitchen features a large breakfast bar and corner pantry, separate dining area and a door to your yard. Living Room is open to kitchen to always give you that spacious feeling.  Upstairs you will find the generous master with his & hers closets and a full ensuite bath.  Complete the upstairs with 2 additional bedrooms and a bath. Downstairs is untouched waiting for your finishing ideas. Close to shopping and easy access to Hwy 2. MLS C3589595

Check out our video tour @ http://youtu.be/tUJTla8jZ5M

 

 

001 - Open2view ID3786 - 1105_800 Yankee Valley Blvd22a003 - Open2view ID3786 - 1105_800 Yankee Valley Blvd

October 2013, Calgary Real Estate Market Snapshot

September 30th, 2013

Want to know what’s really happening in the Calgary Real Estate Market.  The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate.   In summary the Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales. It is important to note that for the first time in more than 6 months the absorption rate increased above 2.0 so we are seeing a slight shift.

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

Calgary Listing Inventory:  Inventory levels for all categories remained almost flat this month.

Inventory 

August  2013      

September  2013   

Change

Single Family Home

2791

2789

-2

Condo    Townhouse

417

450

33

Condo    Apartment

690

683

-7

Total

3898

3922

24

 

Calgary Sales: 

Sales decreased marginally in all categories except townhouses which saw a small increase this month.   This is very normal as sales typically start slowing at this time of year.   To look at another perspective even though sales slowed this month they were 19% higher than in August 2012.

Sales

August  2013  

September  2013  

Change

% Change

Single   Family Home

1517

1354

-163

-10.7

Condo  Townhouse

282

245

37

13.6

Condo   Apartment

397

324

-73

-18.4

Total

2196

1923

-273

-12.4

 

Calgary Real Estate Sales Prices:  

In September, the benchmark price stayed almost flat for all categories with apartment condo’s showing the largest increase.

Sales Prices

August  2013

Benchmark Price

September  2013

 Benchmark Price  

Change

Single   Family Homes

464,700

463,700

-1,000.

Condo   Townhouse

298,500

299,100

600

Condo  Apartment

270,600

272,900

2,300

 

Sales Prices  “Year to Date”   

Year to date prices have increased in all categories.

Sales Prices Dec  31 2012    Benchmark Price 

September  2013

Benchmark Price 

Change

% Change

Single   Family Homes

434,800

463,700

28,900

6.65

Condo   Townhouse

284,100

299,100

15,000

5.27

Condo  Apartment

248,700

272,900

24,200

9.73

  

Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market

>4.0

Balanced Market

Between 2.8 to 4.0

Seller’s Market

<2.8

Absorption Rate:  Throughout September our absorption rate increased in all categories.  This could be the start of a shift as this is the first time in several months that the absorption rate has exceeded 2.0.  Of course we have a long way to move still to move into a buyers market.

Absorption Rate  

August 2013  

September 2013  

Change

Single   Family Homes

1.84

2.06

.22

Condo   Townhouse

1.47

1.84

.37

Condo  Apartment

1.74

2.1

.36

Total   Calgary

1.78

2.04

.26

**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.

Interest Rates are on the rise – if you are even considering making a move get to your bank and get a mortgage commitment locked in at today’s rates. It looks like they may even go higher.

 

FORUM FOR A FLOOD FREE CALGARY

September 19th, 2013
  Bruce asked if we would pass this on and I think its fantastic.                    Special Meeting Notice: Sunday, September 22nd.
What if the June floods occur again next     year  – and are worse?


FORUM FOR A FLOOD FREE CALGARY            “How to Prevent or Minimize the Risk of Future Floods”
In a city that has experienced the recent flooding crisis, the opportunity     to meet, discuss, question and impact future policy development related to     flood control is essential. To ensure the citizens of Calgary are informed     and can have meaningful input into policy development, the Calgary     Leadership Forum have assembled a faculty of world class experts     speaking to our Mission “How to Prevent or Minimize the Risk of Future     Floods” and avoid the nightmare scenario – ‘What if it happens again next year?’
The Forum will be convened by Mr. Richard Westbury C.     Geologist,
FRGS, and Consulting Geologist who has     world-wide experience.

Faculty Experts Include:

– R. W. (Bob) Sandford, Director of the Western Watersheds     Climate
Research Collaborative and Associate Centre for Hydrology – Global     Water
Institute at the University of Saskatchewan, EPCOR Chair, and the     Canadian
Partnership Initiative in Support of United Nations “Water for     Life” Decade.
– Dr Jerry Osborn     P.Geol., University of Calgary, Dept. of Geology, FRGS,
Consulting Geologist, Historical storm     flooding

– David Hill, Director Centre Institute Research Advocacy University
of Lethbridge – Water Basin Measurement Management
– Emma Hays – Chair, Calgary River Communities Action Group

Also Invited
– City of Calgary – Flood Committee
– Province of Alberta – Prov. Advisory Panel on Community Flood     Mitigation
Representatives from the City of Calgary, The Province of Alberta     will also
be in attendance.

This free public forum will be held on September 22nd, 2013 at
The Croation Cultural Centre, 3010-12th Street N.E., Calgary.

The agenda for the forum is:
12:00 – 1:00 p.m.     – Registration and Meet and     Greet
1:00 – 3:30 p.m.     – Faculty     Presentations
3:30 – 4:30 p.m.     – Public Q & A     /Discussion
4:30 – 5:00 p.m.     – Plan of Action &     Wrap Up

You can     pre-register at:        floodfreecalgary.eventbrite.comor RSVP     to:     https://www.facebook.com/#!/events/167650836763248/


A Proceedings Report with recommendations  ill be prepared and presented to Governments and Flood committees.

The Calgary Leadership Forum is a 1600 member non-partisan think tank,     dedicated to improving the quality of life for the citizens of Calgary, for     this and future generations. The Flood Forum Committee is being     chaired by Dennis Little 

I would greatly     appreciate if you would pass this on to friends and     colleagues who might benefit hearing this information in order to be     better prepared for the next flood or natural disaster.
Best regards,
Bruce

Bruce Lee

403 – 241 – 6212Speaker, Strategist,     MC

bruceleespeaker@shaw.ca

www.bruceleespeaker.comStretching     Performance & Maximizing Productivity