Check out this new cute little 1.5 Storey listing in Sunnyside Calgary.
MLS# A2140200
List Price $575,000
Check out all photos and details here: https://www.tswrealestategroup.com/for-sale/817-4-avenue-nw–92035842
Sneak Peek
Exterior Front
Living Room
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
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 except townhouses decreased again throughout August.
| Inventory |
July 2013 |
August 2013 |
Change |
| Single Family Home |
2917 |
2791 |
-126 |
| Condo Townhouse |
407 |
417 |
10 |
| Condo Apartment |
768 |
690 |
-78 |
| Total |
4092 |
3898 |
-194 |
Calgary Sales:
Sales decreased marginally in all categories this month. This is very normal as many people are focused on summer vacations, back to school etc. The other reason for this is that listings are so low that good homes are challenging to find.
| Sales |
July 2013 |
August 2013 |
Change |
% Change |
| Single Family Home |
1575 |
1517 |
-59 |
-3.6% |
| Condo Townhouse |
295 |
282 |
-13 |
-.44% |
| Condo Apartment |
398 |
397 |
-1 |
– |
| Total |
2268 |
2196 |
-72 |
-3.2% |
Calgary Real Estate Sales Prices:
In August, the benchmark price increased slightly for all categories. This is simply a reflection of demand outpacing supply Mens andre nettsider hovedsakelig fokuserer pa norske spilleautomater pa nett, onsker vi ogsa a servere deg informasjon om de ekte maskinene. and this trend will continue until the inventory starts to increase faster than sales.
| Sales Prices |
July 2013 Benchmark Price |
August 2013 Benchmark Price |
Change |
| Single Family Homes |
461,600 |
464,700 |
3,100 |
| Condo Townhouse |
294,500 |
298,500 |
4,000 |
| Condo Apartment |
267,600 |
270,600 |
3,000 |
Sales Prices “Year to Date”
Year to date prices have increased in all categories.
| Sales Prices | Dec 31 2012 Benchmark Price |
August 2013 Benchmark Price |
Change |
% Change |
| Single Family Homes |
434,800 |
464,700 |
29,900 |
6.9% |
| Condo Townhouse |
284,100 |
298,500 |
14,400 |
5.1% |
| Condo Apartment |
248,700 |
270,600 |
21,900 |
8.8% |
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 August our absorption rate decreased in all categories except townhouses. With inventory shrinking faster than sales are slowing it is now pushing us into a stronger “Sellers market position”.
| Absorption Rate |
July 2013 |
August 2013 |
Change |
| Single Family Homes |
1.85 |
1.84 |
-.01 |
| Condo Townhouse |
1.37 |
1.47 |
.1 |
| Condo Apartment |
1.93 |
1.74 |
-.19 |
| Total Calgary |
1.80 |
1.78 |
-.02 |
**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.
In Other News:
Rumor on the street is that CMHC has hit their annual $ limit for mortgage insurance so getting this product might be a little more difficult.
Interest Rates are on the rise – if you are even considering making a move talk to your bank or mortgage broker and get a mortgage commitment locked in at today’s rates.
Sign up for your personalized Market Report for your Community : http://www.calgaryareasolds.com/
Gord Piper
A little sweat equity will go along way here! MLS listing C3578405
Opportunity knocks, original solid bungalow in the desirable mature community of Silver Springs. This 3 bedroom, 3 bath bungalow comes with a double garage and is ready for your decorating ideas. Located close to Silver Springs park and tennis courts, Silver springs plaza and transit. Upstairs you will find the L shaped living http://www.phpaide.com/forum.php?langue=fr room & dining room, Kitchen, bath, master bedroom with ensuite and 2 other bedrooms. Downstairs you will find a large recreation room with wet bar, pool table (included), library, bedroom and 3 piece bath. Furnace, HWT and shingles were replaced around 2008. Complete video tour avail at:
http://www.youtube.com/watch?v=EXgyoe-R2AQ
Here is a snapshot of what is really happening in the Calgary Real Estate Market. Real estate are based on supply and demand so the key numbers we look at here are Inventory, Sales, absorbtion Rate and of course Prices which is simply a reflection of the above categories. All numbers below are from the Calgary Real Estate Boards Monthly stats package produced for realtors.
Many of you are aware that the Mortgage rules recently changed and everyone was wondering what effect that would have on the market. Well the biggest change was that 30 year amortization are no longer available as the maximum is now 25 years. As you will see from the stats below these changes did not have much impact so far in Calgary.
Calgary Listing Inventory: Inventory levels for all categories decreased slightly in July. Last year this was the time when our inventory started increasing rapidly so seeing a slight decline is a good sign.
| Inventory |
June 2012 |
July 2012 |
Change |
| Single Family Home |
3817 |
3646 |
-171 |
| Condo Townhouse |
693 |
623 |
-70 |
| Condo Apartment |
1205 |
1161 |
-44 |
| Total |
5715 |
5390 |
-325 |
Calgary Sales:
Sales decreased in all categories this month. In my opinion this was expected and is more of a seasonal adjustment as we are following the same trend as last year when our sales peaked in June. Last year sales in June were 2200 and in July were 1936 – a 13.6% decrease. Total Calgary residential sales for July were 21.3% higher than in 2011.
| Sales |
June 2012 |
July 2012 |
Change |
% Change |
| Single Family Home |
1609 |
1386 |
-223 |
-16.1 |
| Condo Townhouse |
253 |
239 |
-14 |
-5.8 |
| Condo Apartment |
340 |
311 |
-29 |
-9.3 |
| Total |
2202 |
1936 |
-266 | -13.7 |
Calgary Real Estate Sales Prices: Please note that we are now using the Benchmark price for this comparison.
As the chart below demonstrates the benchmark price for all categories stayed flat this month. In my opinion this is a very healthy market with good activity level and prices showing modest increases.
| Sales Prices | June 2012 Benchmark Price |
July 2012 Benchmark Price |
Change |
| Single Family Homes |
430,800 |
432400 |
+1200. |
| Condo Townhouse |
278,000 |
277400 |
-600. |
| Condo Apartment |
246,300 |
247600 |
+1300. |
Absorption Rate (Months of Inventory) – Yes a new category!
The absorption rate is the inventory divided by the number of sales in the last month.
What does this mean you might ask?
An absorption rate of below 3.0 indicates a Seller’s Market
An absorption rate of between 3.0 to 4.0 indicates a Balanced Market
An Absorption rate of above 3.0 indicates a Buyer’s Market.
| Absorption Rate | June 2012 |
July 2012 |
Change |
| Single Family Homes |
2.37 |
2.63 |
+.26 |
| Condo Townhouse |
2.73 |
2.61 |
-.12 |
| Condo Apartment |
3.54 |
3.73 |
+.19 |
| Total Calgary |
2.60 |
2.78 |
+.18 |
Therefore overall we are in a balanced market. Please note that these numbers do change on a community basis. 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 anytime.
If you would like the full stats package just let me know.
Gord, Eric & Brent
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
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
Calgary Listing Inventory: As shown below our inventory in Calgary Metro increased by 308 listings this month. This is very typical to see listings rise as spring arrives.
| Inventory | April 2011 | May 2011 | Change |
| Single Family Home | 4395 | 4616 | +221 |
| Condo’s | 2005 | 2092 | +87 |
| Total | 6400 | 6708 | +308 |
Overall Calgary sales for the month of May increased slightly from April. Single family home sales increased while condo sales decreased ever so slightly. Interesting enough sales of Inner city homes increased by almost 4%
| Sales | April 2011 | May 2011 | Change |
| Single Family Home | 1217 | 1313 | +96 |
| Condo’s | 535 | 503 | -32 |
| Total | 1752 | 1816 | +64 |
| Sales Prices | April Median Prices | May Median Prices | Change |
| Single Family Homes | $ 420,000 | $423,000 | +$3,000 |
| Condo’s | $260,000 | $268,500 | +$8,500 |
Absorption rate is simply the total inventory divided by the number of sales in the last month. An absorption rate of between 2.3 to 4.0 months reflects a balanced market while a higher rate reflects a buyer’s market and therefore a lower rate reflects a seller’s market. From the chart below you can see that we are still in a slight buyers market.
If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us.
Gord Piper & Brent Wilcox
CIR Realty
403-861-2256