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.

 

 

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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Calgary: 2015-September-02

 

For a complete statistics package, just send me a note and I'll email you a 28 page report or click here to download it immediately.

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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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Neighbourhood of HAWKWOOD Stats as of end of April 2015:

Attached homes:

1 Active

0 Conditionally Sold

------

1 Inventory

0 Sold April 1 - 30

Benchmark Price: UP 8.0%

Apartments:

1 Active

1 Conditionally Sold

------

2 Inventory

0 Sold April 1 - 30

Benchmark Price: UP 3.1%

Detached homes:

21 Active

2 Conditionally Sold

------

23 Inventory

9 Sold April 1 - 30

2.56 months of supply - Balanced Market

Benchmark Price: UP 4.2%

But then we break down the detached homes further:

Detached homes priced UNDER $600,000:

13 Active

2 Conditionally Sold

------

15 Inventory

7 Sold April 1 - 30

2.14 months of supply - SELLERS' Market

Detached homes priced OVER $600,000:

8 Active

0 Conditionally Sold

------

8 Inventory

2 Sold April 1 - 30

4.00 months of supply - BUYERS' Market

 

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

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City of Calgary Stats as of end of April 2015:

Attached homes:

1223 Active

80 Conditionally Sold

------

1303 Inventory

465 Sold April 1 - 30

2.80 months of supply - Balanced Market

Average Selling Price: Up 2.2%

Benchmark Price: Up 3.4%

Apartments:

1346 Active

53 Conditionally Sold

------

1399 Inventory

351 Sold April 1 - 30

3.99 months of supply - Balanced Market

Average Selling Price: Down 5.5%

Benchmark Price: Down 0.2%

Detached homes:

3016 Active

205 Conditionally Sold

------

3221 Inventory

1153 Sold April 1 - 30

2.79 months of supply - Balanced Market

Average Selling Price: Down 0.8%

Benchmark Price: Up 1.9%

But then we break down the detached homes further:

Detached homes priced UNDER $600,000:

1599 Active

169 Conditionally Sold

------

1768 Inventory

892 Sold April 1 - 30

1.98 months of supply - SELLERS' Market

 

Detached homes priced OVER $600,000:

1422 Active

36 Conditionally Sold

------

1458 Inventory

268 Sold April 1 - 30

5.44 months of supply - BUYERS' Market

 

Market...

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Calgary Real Estate Market Share - February 2015

(ALL brands - Franchised and Independents)

 

 

Data Source: Calgary Real Estate Board

© 2015 - Thomas Bushey

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Calgary Real Estate Market Share - February 2015

(ALL brands - Franchised and Independents)

 

 

Data Source: Calgary Real Estate Board

© 2015 - Thomas Bushey

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  • Find a LOCAL REALTOR® who has a condominium specialist designation. In Calgary, this is an optional upgrade designation for REALTORS®. Condominium real estate transactions are significantly far more complex than freehold property transactions and require additional care and attention to details.
  • In Alberta, condominiums can be apartments, townhouses, 4-plexes, 8-plexes, attached homes, detached homes or even a few acreages just outside the city. All types of property can provide the benefits of condominium ownership. A condominium specialist should be able to spot the tell-tale signs of a well-run condominium corporation and in the case of townhouses, rowhouses, multi-unit properties can easily explain why they are far, far superior to "freehold" townhouses, rowhouses or multi-unit properties.
  • If you are buying a brand new condominium, recognize that the "sales person" in the show suite is an employee of the vendor and CAN NOT represent you in your transaction – they work only...
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Inventory climbs in Calgary’s housing market

February sales activity remains low

 

March 2, 2015 – Year-over-year new listings growth eased from 37 percent last month to nine percent in February. However, as sales activity remained below long term averages for the month, Calgary inventory levels rose to 5,474 units in February.

 

“While housing supply levels continue to be higher than we have seen in this market for some time, they remain below February 2008 record highs of nearly 7,000 units,” said CREB® chief economist Ann-Marie Lurie. “If the pace of growth in new listings continues to ease, this could place some downward pressure on the supply growth in the resale market.”

 

After the first two months of the year, there have been 6,236 new listings come onto the Calgary market. However, the new listings gains have varied depending on price range and segment. Detached homes have continued to see a decline in new listings in the...

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As I speculated back in November, January definitely saw a number of home sellers putting their homes up for sale in January to try to take advantage of significant price gains in 2014. As expected we saw a whole slew of listings hit the market earlier than normal – even for Calgary (which has a spring market that actually starts in February and runs to May).

 

The unfortunate timing of announcements of layoffs in the oil and gas and retail industries in mid-January really spooked a lot of potential buyers. Many are still waiting to see if buying now is the right time. In typical fashion the media has taken a situation and sensationalized it – making it a somewhat self-fulfilling prophecy.


This, combined with the large influx of new listings, forced quite a number of home sellers to change their strategy of "profit-taking" and reposition their price to get market-value instead of trying to push the envelope for pricing similar to the strategy home sellers used for most of...

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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!
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