Posts Tagged ‘TSWRealEstateGroup’

Calgary Real Estate Market Snapshot for Nov 1, 2023

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

Tuesday, 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

Friday, 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

Tuesday, May 2nd, 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)

April 2023 Highlights

The Calgary Market is continuing at a blistering pace!

  • New listings declined again. We had 3183 compared to 4885 last year.
  • Inventory is still Low – We are at our lowest inventory level since 2007.
  • Benchmark prices increased in all sectors for a total of $9,000.

  

Calgary Listing Inventory

Listing Inventory is identical to last month, this is concerning as normally at this time of year our listing inventory increases and this year it is remaining flat. It seems like everything we list is getting sold almost immediately.

 

Calgary Sales:

Sales increased over last year by 261 this month. Sales for Attached Row homes declined by 154 (again this is due to having no listings to sell). All other sectors increased marginally.

 

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
Change -805 -1565 -1659 -711
% Change -40.1% -47.4% -40.55% -20.9%

 

 Calgary Real Estate Benchmark Sales Prices:

The overall benchmark price increased in all sectors with the overall increase being $9,000 or 1.66%. The increase was similar in all sectors. It is my opinion that until our Inventory situation changes, we will continue to see increases like this.

 

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

For all of Calgary we have so far seen an increase of 6.17% or $32,000. The lowest dollar increase so far has been apartment condos at $24,600 and the highest is Detached homes at $42,300.

 

Current Months of Inventory (Absorption Rate): 

Months of Inventory decreased in the Detached and Semi-Detached sectors and increased slightly in the Attached-Row and Apartment sectors.

 

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 have to predict this trend is going to continue for the next several months.

 

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

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

Calgary Real Estate Stats May 1, 2023

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Calgary Real Estate Market Snapshot Feb 1, 2023

Thursday, February 2nd, 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 Calgary Real Estate

 

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

December 2022 Highlights

The Calgary Market is exploding again, as an agent I feel like I am reliving 2022!

  • Our inventory edged up slightly.
  • Demand for homes under the $600,000 price range has exploded, as long as listings are priced reasonably I am seeing between 5-15 offers on most listings, and of course they are selling well above list price.
  • Sales increased marginally over December.
  • Months of Inventory increased slightly.

 

Calgary Listing Inventory

Listing inventory increase an overall of 10.7% this month.  Keep in mind that December is typically the lowest inventory months and the next several months you will see increases. The economist for the Calgary Real Estate Board indicated that the level of new listings in January fell to the lowest level seen since the late 90s.

 

Calgary Sales:

Total Sale in January were 5 less than in December or down .42% It is critical to understand this is in no way a lack of demand, but a lack of supply (inventory).

 

Sales Compared to 2022: 

It is also important to look at sales compared to the Previous year. Sales for December were down 40.1% when compared to last December of 2022. Although this looks like a substantial number, we also need to consider that last December is when things in the Calgary Real Estate Market started getting heated so not meeting last years sales does not concern me at all. As noted above if we had more inventory sales would have been higher – it is supply not demand causing lower sales.

 

  Jan Feb Mar Apr May June July
2022 2004 3305 4107 3401 3071 2842 2254
2023 1199            
Change -805            
% Change -40.1%            

   

Calgary Real Estate Benchmark Sales Prices:

The overall benchmark price increased by $2,100 for January.  Increases were in all sectors except for Semi-Detached homes which saw a decrease of $3,800.

 

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

Same as above.

 

Current Months of Inventory (Absorption Rate): 

The months of inventory increased a total of .21.  This increase was in all sectors except Semi-Detached homes which decreased by .59   Even with the slight increase every sector is currently in a seller’s market position.

 

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 stat specifically for your neighborhood, please contact us.

 

Calgary Real Estate Stats for 2023 – Information from the Calgary Real Estate Board

Calgary Real Estate Stats

Calgary Real Estate Stats

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