February 2012 Calgary Real Estate Market Report

March 2nd, 2012

Real Estate in Calgary and specifically in Calgary Northwest has picked up the pace substantially.   If you are looking for information specific to your home I would be happy to offer a free no obligation home evaluation.  

 All the numbers below are taken from the Calgary Real Estate Board’s statistics package for Realtors.  Below you will find a summary of some key areas with a few short comments.   

Calgary Listing Inventory:  Inventory levels for both Single Family homes and Condo’s increased this month.   This movement is normal for this time of year and we will most likely see this trend continue for the next several month.  

Inventory   Jan 2012    Feb  2012  Change
Single Family Home 2980 3093 +113
Condo’s 1449 1643 + 194
Total 4430 4736 +306

 

Calgary Sales: 

Calgary Single Family home and Condo sales saw substantial increases in February.         

Sales January 2012 February  2012 Change
Single Family Home 764 1284 + 520
Condo’s 305 453 + 148
Total 1078 1737 + 659

 Calgary Real Estate Sales Prices:  Please note that this section has changed so the numbers look much different from last month.  In the past the numbers I have always used was the median price as this was in my opinion more accurate than simply using an average.  The Canadian Real Estate Association along with the Calgary Real Estate Board have now introduced the MLS Home Price Index which they believe is more accurate than using the Median price and will show less false increases and decreases.  For the purpose of this I will use their benchmark price – what an average home would sell for.  As you can see by the numbers all categories of housing in Calgary increased in the month of February which makes sense to me as the inventory is up only a little and our sales are up substantially.

Sales Prices January Benchmark Price Feb 2012 Benchmark Price   Change
Single Family Homes 422600 427,000 +$4,400
Condo Townhouse 287,900 288,600 + $700.
Condo Apt Style 237,500 242,900 +$5,400

Overall the market has changed from a strong buyers market to a balanced Market and when I look community by community many popular communities are in a seller’s market position now.

If you have any questions about this summary,  or any Real Estate questions please feel free to contact us anytime.  

Gord, Eric & Brent

403-861-2256

January 2012 Calgary Housing Statistics

February 1st, 2012

What’s happening in the Calgary Real Estate Market? 

Ever heard that Real Estate is prices are a reflection of Supply and Demand?

Below is a summary made simple – what is happening in Real Estate in Calgary.

Information is taken from the Calgary Real Estate Boards monthly statistics package.

Calgary Listing Inventory:  Inventory levels for both Single Family homes and Condo’s increased this month.   This movement is normal for this time of year and we will most likely see this trend continue for the next several month.  

Inventory   December  2011 Jan 2012  Change
Single Family Home 2761 2980 +219
Condo’s 1287 1450 +163
Total 4048 4430 +382

Calgary Sales: 

Calgary Single Family home sales are up over December while Condo sales stayed flat.   Both Single Family home and Condo sales are almost the same as they were in January 2011.         

Sales December 2011 January 2012 Change
Single Family Home 722 773 +51
Condo’s 310 305 -5
Total 1032 1078 +46

 Calgary Real Estate Sales Prices:  In January Single family home median prices remained almost flat while Condo prices decreased by $12,875.  The median prices are not showing any certain direction but are bouncing up and down every month. 

Sales Prices December  Median Prices Jan 2012  Median Prices Change
Single Family Homes $393,750 395,000 +1250
Condo’s $257,875 245,000 -12,875

 Important note – As of Feb 2012 the Calgary Real Estate Board is changing the way it reports statistics.  The Canadian Real Estate Association in partnership with local Real Estate Boards has developed the MLS HPI (Home Price Index).  The Home Price Index identifies  turning points sooner, is the most current and is the most detailed and accurate gauge for Canadian home prices. 

With this change we will need to re-evaluate what information I can post for  monthly.  My goal is simply to make sure you are getting current up to date information that tells the real story about the Calgary Housing Market.

If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us anytime.  

Gord, Eric & Brent

December 2011, Monthly Housing Stats Report

January 2nd, 2012

What”s happening in the Calgary Real Estate market?

  The stats below are taken from information supplied to realtors through the Calgary Real Estate Board.  As Real Estate is all about supply and demand that is what this article will focus on :

  • Our Inventory
  • Our Sales
  • and of course Prices

  As we are at a year-end I am providing both monthly and then yearly results.

Calgary Listing Inventory:  Inventory levels for both Single Family homes and Condo’s decreased substantially this month.   This movement is normal for this time of year as many people do not want their home on the market during the holiday season.  Expect that starting January our listing inventory will start to creep upwards.

Inventory   November 2011  December  2011 Change
Single Family Home 3761 2761 Decrease of 1000
Condo’s 1676 1287 Decrease of 389
Total 5437 4048 Decrease of 1389

 Calgary Listing Inventory year to date.  Very Similar numbers compared to last year.  

Inventory  Dec 2010  December  2011 Change
2712 2761 49
Condo’s 1429 1287 -142
Total 4141 4048 -97

Calgary Sales: 

Calgary Single Family home sales and Condo sales for the month of December declined slightly from November.  Again the holiday season can account for this trend.         

Sales November 2011 December 2011 Change
Single Family Home 962 722 -240
Condo’s 391 310 -81
Total 1353 1032 -321

Calgary Sales Year to Date

Sales for both single family homes and condos showed an increase over 2010, a very positive sign moving forward.

Sales Total  2010  Total  2011 Change % Change
Single Family Home 12,091 13,186 1095 9.06%
Condo’s 5,176 5,382 206 3.98%
Total 17267 18,568 1301 7.53%

Calgary Real Estate Sales Prices:  In 2011 Single family home prices decreased by $9,175 while the median price of condo’s increased by $5,875.  The median prices are not showing any certain direction but are bouncing up and down every month.  Let’s look at the year to date numbers download free action game for girls below to really see what’s happening.

Sales Prices November Median Prices December  Median Prices Change
Single Family Homes $402,925 $393,750 -$9,175
Condo’s $252,000 $257,875 $5,875

 *** Calgary Real Estate Sales Prices Year to Date

As you can see from the chart below the Median Sales price of both single family homes and condos remained almost constant this year.  We had a bit of a roller coaster with prices bouncing up and down but they are not showing a single direction.

   End of 2010 End of 2011 Change % Change
Single Family Homes  $389,000 $393,750 $4,750 1.2%
Condo’s  $260,000 $257,875 -$2.125 -.82%

 

Forecast for 2012

On the 18th of January the Calgary Real Estate Board put’s on their annual forecast breakfast where they bring in experts and share the forecasts for 2012.  As soon as the forecasts are available I will summarize for you.  

If you have any questions about this summary, or would like a full copy of the December Stats package please contact us

Gord, Eric & Brent

Check out our new Market Snapshot – a monthly look at active and sold listings in your community.

Should I sell my home now or wait till Spring?

December 2nd, 2011

As a Real Estate agent in Calgary for 10 years I cannot tell you how many times I have heard clients say that they are going to wait till spring to sell their home.  Read on to find out if this myth is true?

Yes it is true that Spring always brings out more buyers so there is more activity in the market.

Yes it is also true that Spring brings out more sellers so the competition is also more fierce.

In my opinion every year is different and you cannot predict the future with 100% certainty.  If you wait till spring more sellers may come out than buyers in which case you would be at a disadvantage by waiting till spring. 

The key ratio you want to look at is the Inventory turnover which is simply  the Total number of listings divided by the number of sales for the last 30 days.   This gives you a number called Inventory Turnover or Absorption rate.  The lower the number the better the market is for sellers.

To find out current numbers please contact your favourite Realtor.

Gord, Eric and Brent

CIR Realty

November 2011 Calgary Real Estate Market Snapshot

December 2nd, 2011

It is our pleasure to provide key information from the Calgary Real Estate Boards monthly stats package and add a few short comments to help you really understand what is happening in the market.   The key areas that we look at include Inventory, Sales and the Median Price as this gives  a great snapshot of the market.

Calgary Listing Inventory:  Inventory levels for both Single Family homes and Condo’s decreased this month.   This is the first month in a long time that we have seen our inventory consistently decrease every week.  This movement is normal for this time of year as many people believe it is now better to wait till spring.

Inventory   October 2011  November 2011 Change
Single Family Home 4486 3761  Decrease of 725
Condo’s 1935 1676  Decrease of 259
Total 6421 5437 Decrease of 984

 Calgary Sales:  Calgary Single Family home sales for the month of November remained almost flat this month.  You may have read the news that says “sales are up” but that number is comparing sales to Nov 2010.  The normal trend at this time of year is to see sales drop so remaining flat is a sign of strength.        

Sales October 2011 November 2011 Change
Single Family Home 988 962 (26)
Condo’s 368 393 + 25
Total 1356 1355 (1)     

 Calgary Real Estate Sales Prices:  Single family home prices increased by $7,975 while the median price of condo’s decreased by $12,625.  The median prices are not showing any certain direction but are bouncing up and down every month.  Let’s look at the year to date numbers to really see what’s happening.

Single Family Home:  Dec 31, 2010 the median price was $406,000 so for the year the median price has decreased by $3,075

Condos:  Dec  31, 2010 the median price for condos was 267,250 compared to today at $250,000 showing a decrease of $17,250        

Sales Prices October Median Prices November Median Prices Change
Single Family Homes $395,000 $402,925 +$7,975
Condo’s $262,625 $250,000 $(12,625)

Overall we are still in a buyer’s market although with the decreased inventory levels and sales maintaining we are moving closer to a balanced market.

If you have any questions or comments about this snapshot please let us know.

For a full copy of the November Calgary Real Estate Boards Monthly Stats package please contact us.

Gord, Eric and Brent

Successful Home Staging

November 28th, 2011
On television, online, and in magazines, staging is the word. Real estate experts will tell you that staging your house gives you an edge when trying to sell your house. But what exactly is staging?Staging is organizing and decorating your home so that potential buyers can really see themselves living there. You don’t have to invest major money into a remodel—this is rarely a cost-effective strategy. Staging is all about highlighting your home’s best attributes and minimizing distractions.  With so many houses on the market, simple staging strategies can give your home the little boost it needs to attract more buyers.

Lose the clutter. Box up trinkets and small appliances. Pay special attention in the kitchen and bathrooms. Emphasize counter space by getting rid of the coffee maker, toaster, mixer, and the like. In the bathroom, hide shampoo bottles and other personal care items.

Clear away personal effects. Potential buyers don’t want to see your Christmas cards on the refrigerator, or your kid’s little league trophy. Same goes for framed family photos, your pet’s belongings, or the stack of books on your nightstand. Buyers won’t be able to picture themselves living in your home if your memories are around every corner.

Clean it up. Now is the time to invest in a cleaning service. Consider hiring a professional cleaning crew to give your home a thorough top-to-bottom cleaning. This might include steam cleaning your carpets. Professionals know how to make your house look and smell brand new!

More light and warmth. Make your home welcoming and inviting by opening curtains and blinds and making sure all rooms are well lit. You might be tempted to keep the temperature low, especially if you’ve already moved out. Before an open house, crank the thermostat up to a comfortable temperature and light the fireplace, if you have one. Creating light and warmth is especially important in the winter months.

Take a critical look at your furniture. Make sure that your furniture is doing a good job of highlighting a room’s size. Oversized or too much furniture can make a living room feel cramped. On the other hand, small pieces in a large room can make the space seem cavernous and hard to work with.

Be neutral. You might love the bright tropical colors that you hand-selected for each room in your house, but potential buyers might not feel the same, and could be scared off at the thought of repainting multiple rooms. Consider painting walls a more neutral color to appeal to the masses.

Quick fixes. Buyers notice little things like loose trim work, leaky faucets, and crooked cabinets. Invest a small amount of time and money to fix cosmetic issues.

Small touches. Set the dining room table. Place fresh flowers on a dresser. Add luxurious throw pillows to beds. For inspiration, think of your favorite hotel, or pick up an interior design magazine.

Home staging is an easy and affordable way to give your home a little boost, whether you’re still living in it, or if you’ve already moved out. Ask us for more staging tips.

October Monthly Housing Stats Report at a glance!

November 2nd, 2011

Trying to make sense of the Calgary Real Estate market?

Below I have reported key indicators on what is really happening in the Calgary Real Estate market.  All numbers are taken from the Monthly Stats report for Realtors prepared by the Calgary Real Estate Board.

Here is October’s summary.

Calgary Listing Inventory:  Inventory levels for Both Single Family homes and Condo’s decreased this month.  Inventory levels have moved both up and down so it is not showing a definite direction.

Inventory September 2011 October Change
Single Family Home 4753 4486 (267)
Condo’s 2008 1935 (73)
Total 6761 6421 (340)

 Calgary Sales: 

Calgary Single Family home sales for the month of October showed a slight decrease.  Sales for Condos,  however decreased by about 15% from September.   Sales numbers dropping is very normal at this time of year as the peak selling season is typically April through June.  Interestingly, sales for single family homes and condos beat sales levels for October 2010 and we are on track to have higher sales in 2011 than in 2010.       

Sales September 2011 October Change
Single Family Home 1036 988 (48)
Condo’s 429 368 (61)
Total 1465 1356 (109)

 

Calgary Real Estate Sales Prices:    For October Median prices for Single Family homes decreased by $5.000 while condo’s increased by $2,625.00 over September.  We seem to be bouncing up and down every month but overall prices are remaining fairly stable.      

Sales Prices September Median Prices October Change
Single Family Homes $400,000 $395,000 (5,000)
Condo’s $260,000 262,625 +2,625

 The median sales price of Single Family homes in January was 390,000 so we are up $5,000 for the year.

The Median sales price of Condos in January was $255,000 so we are up $7250 for the year.

Overall we are still in a buyer’s market where buyers have lots of selection and buyers although buying are looking for value.

If you have any questions about this summary please contact us.   

Gord Piper, Brent Wilcox & Eric Dennis

Save money this winter by making your home more efficient!

October 30th, 2011

Winter is starting its slow creep back into our lives. The days are getting shorter, the nights are getting colder, and forecasters are predicting a chilly, stormy winter.

As you prepare to crank up the fireplace, put heavy blankets on your
bed, and take your sweaters out of storage, consider preparing your home as
well. Many homeowners are taken by surprise every year when they receive that
first big heating bill, but there are lots of easy ways to get your home ready
for Old Man Winter.

Give your furnace some TLC.

Many homeowners don’t know that a furnace needs to be serviced once a year.  A technician will inspect your furnace, clean the burners, and make sure that it’s working as efficiently
as possible. Also, don’t forget to change your filter every one to three months, depending on how much you use it. When your filter is dirty, your furnace has to work harder to heat your home. Furnace filters are inexpensive and easy to install.

Install a programmable thermostat.

For between $50 and $200, a programmable thermostat can save you every month on
your heating bill. Programmable thermostats allow you to set schedules for
increasing or lowering temperatures. For example, instead of heating your home
all day while you’re at work, you can set the thermostat to come on 15 minutes
before you come home. Also, a programmable thermostat can be set to lower the
temperature at night or while you’re on vacation.  Programmable thermostats are available at any Home Depot, Revy or even Canadian Tire and are simple to install.

Only heat the rooms you use.

Do you have a guest room or office that is rarely used? Close the vent or turn off the baseboard
heater and shut the door. There’s no reason to heat a room that nobody is
using. Have a gas fireplace in the living room? If you spend your evenings in
the living room, turn off your furnace and use only the fireplace to heat the
room.

Check for drafts.

Windows and doors can let lots of heat out. Add kasino iden vertailu voi olla aloittelevalle pelaajalle hankalaa ja sopivan ensikasinon valitseminen uuvuttavaa. inexpensive weather-stripping around doors and window seals to keep heat in. Consider upgrading insulation or replacing single-pane
windows in older homes.

Ask the experts.

Your local utility company offers energy audits. Check their website for dates and times
they’ll be in your neighborhood. If your utility provider doesn’t offer this
service, many not-for-profit organizations or government entities do. An auditor
will visit your home and make recommendations for energy-saving improvements of
all types.

Rebates – Save even more money!

If you decide to make major improvements to your home this winter, check for
rebates. Local, Provincial,  and federal governments often offer tax breaks or
rebates for energy-saving upgrades, as do many utility companies. Research
offers online, at your local hardware store, or with the contractor who will be
doing the work.

Implementing these changes to your home is not only good for the environment, but you’ll also end the winter with more money in your pocket.

September 2011, Real Estate Market Snapshot

October 2nd, 2011

Tired of sorting through all the reports and want a snapshot of whats happening in the Calgary Real Estate Market.  All data below has been taken from the Calgary Real Estate Boards monthly September 2011  Stats package for Realtors.

When trying to understand the market all we really need to know is supply and demand – the inventory and sales.  Of course you might want to know about prices too but what happens with prices is dependent on inventory and sales.  Below you will find this helpful information with a few of my own comments.

Calgary Listing
Inventory:
Inventory levels for both Single Family homes and Condo’s increased only marginally this month and going  up and down so it is not showing a definite direction.

Inventory August
2011
September
2011
Change
Single Family Home 4573 4753 +180
Condo’s 1997 2008 +11
Total 6570 6761 +191

Calgary Sales:

Calgary sales for the month of September showed small decreases
for single family homes and for condos. Sales numbers dropping is very normal at this time of year as the peak selling season is typically April through
June.  Interestingly, sales for single family homes in September were 10.6% higher than in Sept 2010 and sales for Condo’s were 17.2% higher than in 2010.     

Sales August
2011
September
2011
Change
Single Family Home 1106 1036 (70)
Condo’s 468 429 (39)
Total 1574 1465 (109)

Calgary Real Estate Sales Prices:

For September Median prices for Single Family homes decreased by $2,251 while condo’s increased by $5,000 over August.  We seem to be bouncing up and down every month but overall prices are remaining stable.

Sales Prices August
Median Prices 2011
September Median Prices Change
Single Family Homes $402,251 $400,000 ($2251)
Condo’s $255,000 $260,000 +$5,000

Overall we are still in a buyer’s market – however a slightly stronger Buyers market than last month with inventory going up and sales going down our turnover rate has increased.

If you have any questions about this summary, the attached
stats package or any Real Estate questions please feel free to contact us.

Free no obligation Home Evaluation

Gord Piper & Brent Wilcox

CIR Realty

What’s happening in the Calgary Real estate market?

September 3rd, 2011

This report gives you information on all the important indicators on whats happening in Calgary.  Real time, Real Estate Market stats at a glance for the Month of August 2011.  These stats  break the market down into what’s important and eliminates all the extra. Data is from the August Calgary Real Estate Boards Monthly stats package.

Calgary Listing
Inventory:
Inventory levels for Both Single Family homes and Condo’s stayed very flat this month.  This is generally a good number however with sales levels it would balance the market a little more if our inventory dropped slightly.

Inventory July
2011
August
2011
Change
Single Family Home 4630 4573 (57)
Condo’s 2003 1997 (6)
Total 6633 6570 (63)

Calgary Sales:

Calgary sales for the month of August showed marginal decreases for single family homes and a slight increase for condos. Sales numbers dropping is very normal at this time of year as the peak selling season is typically April through June.  Interestingly
sales in August 2010 were 865 Single family homes and 468 condos for a total of
1333 showing an increase of 18% this year over last.    

Sales July  2011 August
2011
Change
Single Family Home 1153 1106 (47)
Condo’s 453 468 +15
Total 1606 1574 (32)

Calgary Real Estate
Sales Prices:
Median prices for Single Family homes decreased by $6,749 and condo’s decreased by $14,000 in August.  To me this is not alarming as the direction is not a trend.  We seem to bounce up and down every month but overall prices are remaining fairly stable.

Sales Prices July
Median Prices
August 2011 Change
Single Family Homes $409,000 $402,251 ($6749)
Condo’s $269,000 $255,000 ($14,000)

Overall we are still in a buyer’s market – this month we moved slightly more in favour of buyers as our inventory stayed flat while sales did show a slight decrease therefore increasing our absorption rate.

Check out our new technology – we can now send you a custom monthly report including, active listing, sold listings, days on market and much more –with easy
to understand graphs all based on your home by the postal code you enter. All
you have to do is sign up and once we approve you will get your own personal Market Snapshot. Simply Click here to sign up: www.calgaryareasolds.com

If you have any questions about this summary, the attached
stats package or any Real Estate questions please feel free to contact us
anytime.

Gord & Brent & Eric