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.

 

We’ve made it to December, and here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!


In their most recent market update and official press release, it appears that challenging economic conditions continue to impact the resale market within CREB.


Sales activity has shown a 14% decline for the year so far, and is nearly 20% below long-term averages.


According to CREB Chief Economist Ann-Marie Lurie,

“Recent challenges in the energy sector have weighed on consumer confidence over the past month. Combined with weakness in the employment market and further gains in lending rates, this is impacting ownership demand. Higher inventories and weaker sales are resulting in buyer’s market conditions and price declines.”


CREB President Tom Westcott also stresses the importance of being aware of the latest market trends, as he adds,

“In any market, affordable product is always desirable. For buyers, it may mean being able...

Read full post

As a mid-fall update — with just one week left in the month of November! I pulled the current Calgary MLS® System statistics a few moments ago.


It's VERY CLEAR  the annual decrease in listings for the December holiday season has already begun. If you were waiting for the best selection of homes to choose from, don't wait any longer!


So, how is the market?


Here is the breakdown as of this morning:


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

  • 7,098 properties available in inventory
  • 1,153 properties marked sold in the last 30 days
  • That makes 6.2 MONTHS of inventory  a strong BUYERS' market


DETACHED homes:

  • 3,838 properties available in inventory
  • 663 properties marked sold in the last 30 days
  • That makes 5.79 MONTHS of inventory  a BUYERS' market


ATTACHED homes (townhouses and 1/2 duplexes):

  • 1,836 properties available in inventory
  • 264 properties marked sold in the last 30 days
  • That makes 6.95 MONTHS of inventory...
Read full post

As a mid-summer update — with just one week left in the month of August! 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:

  • 8,705 properties available in inventory
  • 1,500 properties marked sold in the last 30 days
  • That makes 5.8 MONTHS of inventory  a BUYERS' market


DETACHED homes:

  • 4,748 properties available in inventory
  • 945 properties marked sold in the last 30 days
  • That makes 5.02 MONTHS of inventory  a BUYERS' market


ATTACHED homes (townhouses and 1/2 duplexes):

  • 2,152 properties available in inventory
  • 314 properties marked sold in the last 30 days
  • That makes 6.85 MONTHS of inventory  a strong BUYERS' market 


APARTMENT homes:

  • 1,805 properties available in inventory
  • 241 properties marked sold in the last 30 days
  • That makes 7.49 MONTHS of inventory  a strong BUYERS'...
Read full post

I pulled the current Calgary MLS® System statistics a few moments ago. (Yes, today instead of waiting until tomorrow. Why? Quite a number of listings will expire tonight with it being the end of the month, while many agents typically wait until Monday before entering their new listings into the MLS®.)

 

So, how is the market? Well, for having ended the winter market and coming into the spring market tomorrow, it is quite a bit slower than "normal" — if there is still a "normal" for the Calgary market. The last 10 years have been exceptionally sold with the occasional blip up or down along the way.

 

Here is the breakdown as of 13:00 today:

 

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

  • 5,510 properties available in inventory
  • 1,194 properties marked sold in the last 30 days
  • That makes 4.6 MONTHS of inventory - a really soft BALANCED market

 

DETACHED homes:

  • 2,626 properties available in inventory
  • 714 properties marked...
Read full post

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.

 

Read full post

 

The majority of consumers start their house search online. But could the real estate agent's website’s functionality be turning off potential homebuyers?

 

A few common mistakes that real estate websites and apps are making, including:

  1. The website displays only minimal information.
  2. The website requires the consumer to "log in" prior to seeing the details or more than a single photo.
  3. The website is not mobile adaptive.
  4. The website does not have a consumer-friendly search capability.
  5. The real agent doesn't respond to inquiries through their website.

Let me know if there are other items that you hate about real estate websites.

Read full post

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.

 

Read full post

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.

 

Read full post

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.

 

Read full post

Most people have heard the terms “Buyers' Market”, “Sellers' Market” and "Balanced Market", but do you know what they really mean and how they're determined?

 

There are many factors which affect the real estate market — interest rates, employment, investment growth, legislative changes and new construction, to name just a few. All of these factors influence the real estate market in some way.

 

In a Buyer’s Market, there are more homes for sale than there are buyers. This could be a result of high unemployment, fear of interest rate increases or other factors which make people think twice about purchasing a home for the first time or moving up into a larger home.

 

The advantage buyers have in a Buyers’ Market is that they can typically take a little more time and look at more options before buying. Buyers also have more options because sellers are more anxious to sell. Overall, home prices may remain somewhat stable or go down in...

Read full post

CREB®Now reporter Kelsey Hipkin got an exclusive chance to sit down with Kevin O’Leary at the 2015 CREB® Forecast Conference and Tradeshow.
 
 

 

Source: Used under standard YouTube license terms.

 

The keynote for the forecast was investor, authour and TV personality Kevin O’Leary. O’Leary took some time before he hit the stage to sit down for a one-on-one covering everything from success to customer service to who he thinks is the greatest guitarist in the world.

Let me know what you think!
Read full post

This blog post has been a few months in the making.

 

I was invited to a maketing seminar for a real estate coach this past spring and was wondering how he was going to attack this "hot" topic. I shouldn't have been too surprised that he stated that real estate agents should do the same things that he, and many trainers/coaches, have been espousing for the last decade: "Charge what we have always charged but add more fluff to your package to give the impression of more value. Use your clients' homes to post on social media (Twitter, FaceBook, LinkedIn, Google+, etc.) to create more business for yourself." They never really say to post it to actually try to sell the damn house, it is always just to "get your name out there." Okay, maybe I'm paraphrasing "just a bit" there. Consumers use social media to be entertained and distracted (especially Facebook), not to search for goods or services and especially not a home or the services of a REALTOR®.

 

It IS a new world of real estate...

Read full post

I came across this article referred to on Twitter and thought the research was AWESOME. Unfortunately, I find out that my house wastes more heat than 3% of the homes in Calgary. Based on what I see in the heat maps, that is probably pretty good.

 

Here's an intro to the article from the Calgary Herald:

 

"Calgarians may have barely stirred in their sleep one spring night in 2012 as a small-engine plane flew back and forth over the city’s neighbourhoods at low altitude."

 

"But the images collected by a sophisticated, thermal imaging camera on board the aircraft are now waking residents to the financial and environmental cost of the heat that’s silently seeping from their homes."

 

"A team of researchers at the University of Calgary used the images and city data to create a web-based map that shows potential greenhouse gas emissions for entire suburbs and pinpoints hot spots in each individual home where waste energy is escaping."

 

"The project is the...

Read full post

Today, Canada Mortgage and Housing Corporation, (CMHC) released the Housing Market Outlook Report for the Calgary Metropolitan Area.

Here are a few of the highlights:

New Home Market: Total Housing Starts to Increase in 2014 [This is great news to ease the demand for resale homes that has been driving prices up and frustrating buyers who have to act extra-ordinarily quick in order to buy a home.]

 

New Home Market: The Average Sale Prices are expected to grow higher and faster in 2014 than they did in 2013. [Again, good news for the resale market as brand new homes were becoming serious contenders to the resale inventory of homes for many buyers.]

 

Sales in Calgary’s existing home market have trended up throughout 2013, supported by heightened net migration, job creation, and rising wages. Demand for resale homes will keep upward pressure on prices, especially with low vacancies in the rental market and elevated migration flows to Calgary. In 2014, new listings are forecast...

Read full post


RE/MAX has again won Gold in the Calgary Herald Reader's Choice awards for 2013-14!

This is the 20th consecutive year that Calgary Herald readers have chosen RE/MAX as their favourite real estate company in Calgary!

Why is RE/MAX the number one choice of Calgary real estate buyers and sellers?

  • Two J.D. Power & Associates Awards for highest level of home buyer & home seller satisfaction
  • RE/MAX has 10 brokerages and over 10,000 agents in the Calgary area
  • In 2012, a RE/MAX agent was involved in a successful transaction every 30 minutes, 24 hours a day for 365 days. RE/MAX agents in Calgary outperformed their closest competitor by a three-to-one margin
  • RE/MAX agents outperformed the No. 2, No. 3 and No. 4 real estate companies combined in 2012
  • RE/MAX's market share has continued to increase, now at 40 per cent in terms of total transactions in Calgary
  • In 2013, RE/MAX in Canada will invest more than $26 million in corporate advertising; not including the multiple millions that RE/MAX...
Read full post

As a real estate broker, I've seen all kinds of ways to price homes for sale. From experience, most sellers base their asking price on a few dollars more than the anticipated selling price. Then, there are others...

 

There are lots of things NOT to base your asking price on:

  • What you paid for the home
  • How much it cost to build home
  • How much is still owed on the mortgage
  • The cost of the improvements put into the home
  • What a past neighbour SAID they got for their home
  • What your current neighbours, or loved ones, suggest
  • What your individual tax assessment says it was worth
  • How much you need to net out of the sale for retirement
  • How much you paid for your next home
  • How much your dream home is going to cost
  • Whatever the "Magic 8-ball" indicates

 

What you should price your home is based upon specific market dynamics and what people can - and will - likely pay for your home. It really shouldn't be an exercise in wishful thinking.

 

What you probably shouldn't base your homes price...

Read full post
Blogs
Posts By Date
Categories
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.