A blog cannot deal with all aspects of a subject and is not intended to replace professional advice. It's purpose is to highlight information and identify areas of possible interest. Anyone wishing to discuss this blog or to make any comments or suggestions about this blog is invited to do so by either posting comments or emailing me directly.

 

And now an update — just one week later and for the last day of June! I pulled the current Calgary MLS® System statistics a few moments ago.

 

So, how is the market?


Here is the breakdown as of this morning:

 

Total Calgary MLS® System within Calgary for residential properties for sale:

  • 9,239 properties available in inventory
  • 1,929 properties marked sold in the last 30 days
  • That makes 4.8 MONTHS of inventory - a really soft BALANCED market

 

DETACHED homes:

  • 5,026 properties available in inventory
  • 1,233 properties marked sold in the last 30 days
  • That makes 4.1 MONTHS of inventory - a really soft BALANCED market

 

ATTACHED homes (townhouses and 1/2 duplexes):

  • 2,235 properties available in inventory
  • 396 properties marked sold in the last 30 days
  • That makes 5.6 MONTHS of inventory - a BUYERS' market 

 

APARTMENT homes:

  • 1,979 properties available in inventory
  • 300 properties marked sold in the last 30 days
  • That makes 6.6 MONTHS of inventory - a strong...
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I pulled the current Calgary MLS® System statistics a few moments ago.

 

So, how is the market?


Well, for having just officially starting summer (whereas the "summer market" for Calgary real estate started in May), the market remains quite a bit slower than "normal" — if there is still a "normal" for the Calgary market. The last 10 years have been exceptionally slow with the occasional blip up or down along the way.

 

Here is the breakdown as of this morning:

 

Total Calgary MLS® System within Calgary for residential properties for sale:

  • 9,282 properties available in inventory
  • 1,895 properties marked sold in the last 30 days
  • That makes 4.9 MONTHS of inventory - a really soft BALANCED market

 

DETACHED homes:

  • 5,039 properties available in inventory
  • 1,211 properties marked sold in the last 30 days
  • That makes 4.2 MONTHS of inventory - a really soft BALANCED market

 

ATTACHED homes (townhouses and 1/2 duplexes):

  • 2,248 properties available in inventory
  • ...
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Home Sales Improve

November’s housing market was spurred by a rise in sales, particularly in the lower price ranges.

 

Watch CREB® president David P. Brown as he recaps the key influencers that shaped the market in November.

 

To read the full report and monthly stats package, click here. - Source: CREB®

 

 

Source: Used under standard YouTube licence terms.

 

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Prices remain similar to last year, but ease in October

October's housing market conditions closely echoed previous month's trends with easing sales, rising inventories and downward price pressure. Like last month, the monthly activity was not enough to derail gains that occurred earlier in the year.

 

October sales and inventories totaled 1,467 and 6,463 units for a month of supply of 4.4. Several months of elevated supply in comparison to demand has weighed on pricing over the past several months. The city-wide unadjusted benchmark price in October totaled $438,900, 0.6 percent below last month, but comparable to last year.

 

"While economic activity has improved in 2017, it will take some time for this to translate into housing market growth. There have been employment gains, but most of this has occurred in areas with traditionally lower income," said CREB® chief economist Ann-Marie Lurie.

 

"We also continue to face weak migration, higher lending rates and changes...

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The Bigger Picture

 

Watch CREB® president David P. Brown as he recaps sales activity and the key influencers that shaped September’s housing market.

 

To read the full City of Calgary monthly stats package, click here.

 

To read the full Calgary region monthly stats package, click here. - Source: CREB®

 

 

Source: Used under standard YouTube licence terms.

 

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June spells a gradual recovery.

 

Stable prices in detached sector signal balanced conditions despite increased inventory.

 

Calgary’s housing market in June saw a modest improvement in sales along with an increase in new listings.

 

However, demand gains have not kept pace with the amount of new listings coming onto the market. This caused inventory levels to increase to 6,659 units, which is 11 percent higher than last year’s levels.

 

Despite the recent shift in inventory this month, second quarter activity continues to demonstrate improved supply-demand balance and price stability. City wide benchmark prices totaled $441,500 in June. This is a 0.5 percent gain over last month and nearly one percent higher than last year... - Source: CREB®

 

 

Source: Used under standard YouTube licence terms.

 

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Home prices remained stable in May.

 

Demand for detached housing continues to rise.

 

Fueled by the detached sector, Calgary home prices trended up for the fourth consecutive month, but remain below 2014 highs.

 

“The economic climate is supporting detached housing market recovery,” said CREB® chief economist Ann-Marie Lurie.

 

“Improved demand and easing supply has created more balanced conditions and ultimately some modest price gains. While it will still take some time for prices to recover, the transition in the detached segment is an important first step to stabilization across all segments of the housing market.”... - Source: CREB®

 

 

Source: Used under standard YouTube licence terms.

 

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City-wide prices hold steady in April as labour market conditions pick up.

 

It’s not a completely new look at this point, but it’s definitely newish.

 

With recent improvements in the labour market and a balanced detached sector, city-wide benchmark prices reached $439,600 in April, similar to the previous month, but 0.90 per cent below last year’s levels.

 

“More jobs means less uncertainty for people who are sitting on the fence,” said CREB® president David P. Brown. “There also tends to be fewer people who need to sell when employment improves, and that can prevent inventory gains and further price reductions in the market. It’s a good scenario for sellers who are entering a spring market that’s in better shape than anything we’ve seen in recent years.” - Source: CREB®

 

 

Source: Used under standard YouTube licence terms.

 

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After a long period of disconnect between supply and demand, Calgary's detached housing sector is firmly in balanced territory. Sales were still 10 percent below long-term trends in March, but above levels seen in recent years, while average inventory declined compared to last year, supporting price stability in the detached market.

 

 

Source: Used under standard YouTube licence terms.

 

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Sales of homes in Hawkwood this past month are following a similar trend of many other established communities in Calgary. While sales are slower than sales in 2014, sales continute to happen and overall sales prices have not substantially lost ground. In fact, on an annualized basis the selling prices in Hawkwood for 2015 are up 3.2% over 2014.

 

Because home prices throughout many areas of the city are somewhat stalled, it remains a good time to buy homes for both first-time buyers and move-up buyers. However due to the negative influence of the media, many will tend to sit back and wait until prices begin to rise overall in the city instead of just in a few select neighbourhoods and price ranges as the case today.

 

 

 

Looking for a home in our lovely neighbourhood of Hawkwood or looking to sell one?

I'm the trusted neighbourhood real estate professional!
I live here, I work here, I'm here for You!

 

Here are all the listings available in Hawkwood today: click...

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There has been little talk of the alignment of the Calgary MLS System community names and divisions with those of the City of Calgary. Early in January 2016, the map will be aligned.

 

What this means for consumers is that they can get more relevant information on the community they are interest in buying a home within. The 4 zones are being replaced with 8 districts. Some MLS System neighbourhoods are disappearing and almalgamating with a larger neighbourhood. (eg. Ranchland Estates almalgamates with Ranchlands; Lake Bonavista Estates almalgamates with Lake Bonavista; Garrison Woods amalgamates with Altadore.)

 

For me, it will be a bit of a challenge getting to learn some of the new nuances, but it does make a lot of sense and I welcome it. As far as I'm concerned, it's long overdue and the sooner it's implemented, the better!

 

Here are the expected changes:

 

 

 

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Locally, we've recently had a lot of conversations about Seller Brokerage Contracts. What these are are the contracts that is agreed to by a Seller of property and the brokerage through the brokerage's agent to allow them to market the property on behalf of the Seller. Specifically our discussion have revolved around, the agreement regarding the real estate professional's obligations and the consumer's obligations regarding to their property when it is being listed for sale within the local MLS® System.

 

Firstly, there are several weaknesses that creep up as a result of Provincial Standard Forms. One of them is that they cater to the lowest standard of care.

 

One of the notorious weaknesses has been in detailing some of the individual real estate board rules that govern how the various MLS Systems in the province run. A few years ago in this province there were Harmonized MLS System Rules agreed to by all real estate boards in the province (which are still in place), but...

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Neighbourhood of HAWKWOOD Stats as of the end of August 2015:

With the end of summer all but complete, the summer market ends this week as we enter the Labour Day weekend. Although school has already started, home purchasers tend to get back into their home hunt after this unofficial end of summer. Market activity should warm up some between now and Thanksgiving's Day. Now is a good time to buy that home you've been keeping an eye on (providing you and your agent are able to get a market value price for it -- there are, incredibly, a few homes on that market that are still priced too high for their location and/or condition.)

Overall, the Hawkwood community remains in a BALANCED MARKET for the month.

Attached homes (townhouses & side-by-side duplexes):

4 Active

0 Conditionally Sold

------

4 Inventory

0 Sold August 1 - 31

2 Sold year-to-date

16 Months of Supply - STRONG BUYERS market

Apartments:

2 Active

0 Conditionally Sold

------

2 Inventory

0 Sold August 1 - 31

6 Sold year-to-date...

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Neighbourhood of HAWKWOOD Stats as of the end of July 2015:

July is usually the slowest month of the year for real estate sales in Calgary. This year shows no variation from the norm. We should start to see the listing and sales activity slowly climb until mid-November. It may be a great time to both put a home on the market and to shop for homes in Hawkwood. There will be a little less to choose from than the winter-spring market, but there will be far, far fewer people to compete with in shopping for homes. This also is an ideal time to see property at their visual peak – the grass remains close to green and there's no snow hiding unkept landscaping.

Attached homes (townhouses & side-by-side duplexes):

2 Active

0 Conditionally Sold

------

2 Inventory

1 Sold July 1 - 31

Apartments:

1 Active

0 Conditionally Sold

------

1 Inventory

1 Sold July 1 - 31

Detached homes:

21 Active

1 Conditionally Sold

------

22 Inventory

6 Sold July 1 - 31

3.66 months of supply - Balanced Market

 ...

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Neighbourhood of HAWKWOOD Stats as of end of June 2015:

As usual, the spring market ended in May and June showed the usual slowdown in resale market activity. With fewer home buyers shopping and fewer homes for sale for the summer months, it may be a great time to both put a home on the market and to shop for homes in Hawkwood. There will be a little less to choose from, but there will be far, far fewer people to compete with in shopping for homes. This also is an ideal time to see property at their visual peak – the grass is green and there's no snow hiding unkept landscaping.

Attached homes (townhouses & side-by-side duplexes):

1 Active

0 Conditionally Sold

------

1 Inventory

0 Sold June 1 - 30

Apartments:

2 Active

0 Conditionally Sold

------

2 Inventory

1 Sold June 1 - 30

Detached homes:

17 Active

0 Conditionally Sold

------

17 Inventory

5 Sold June 1 - 30

3.40 months of supply - Balanced Market

 

But then we break down the detached homes further:

Detached homes priced...

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Neighbourhood of HAWKWOOD Stats as of end of May 2015:

Attached homes (townhouses & side-by-side duplexes):

1 Active

0 Conditionally Sold

------

1 Inventory

1 Sold May 1 - 31

Apartments:

0 Active

0 Conditionally Sold

------

0 Inventory

3 Sold May 1 - 31

Detached homes:

18 Active

1 Conditionally Sold

------

19 Inventory

14 Sold May 1 - 31

1.36 months of supply - Sellers' Market

 

But then we break down the detached homes further:

Detached homes priced UNDER $600,000:

10 Active

1 Conditionally Sold

------

11 Inventory

12 Sold May 1 - 31

1.09 months of supply - SELLERS' Market

Detached homes priced OVER $600,000:

8 Active

0 Conditionally Sold

------

8 Inventory

2 Sold May 1 - 31

4.00 months of supply - BUYERS' Market

 

Market Statistics Source: CREB [Calgary Real Estate Board Co-operative]

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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.