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.

 

Ready for month number five for this year? Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!


In CREB’s latest press release, they have mentioned that April 2019 has brought a slight inventory decline along with it, while there have been “no significant changes occurring in sales activity.”


The slight adjustment in supply levels has helped support further reductions in the months of supply, which was 4.6 months in April. While this level still represents oversupply in our market, it does reflect improvement from the nearly seven months of supply that we saw at the start of the year.


According to CREB chief economist Ann-Marie Lurie,

“Demand remains relatively weak in the resale market. However, if supply levels continue to adjust, this could help reduce the amount of oversupply and eventually support some price stability. Sales have been improving mostly in the lower price ranges, causing tighter supply conditions...

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Are you ready for the second quarter of 2019? Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!


According to CREB’s latest market report, March saw a modest decline in city wide sales activity compared to last year. However, sales have been rising for more affordable product in the detached and attached sectors.


Shifts in the lower end of the market have not outweighed easing across the higher priced product. First-quarter sales dropped to 3,108 units. This is 9% below last year and 28% below typical levels of activity.


Price declines and relatively slow sales activity are impacting the number of new listings. For the second consecutive month, new listings eased compared to last year’s levels and long-term trends, but it was not enough to prevent inventory growth.


As noted by CREB chief economist Ann-Marie Lurie,

“If new listings continue to slow compared to sales, it could start to help with the persistent oversupply...

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Curious to know how the markets fared at the start of the year? Well here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!


As found in our most recent media release, 2019 kicked off with slow sales, and the market remains at a sluggish pace.


The number of new listings entering the market remained comparable to last year, but those levels far surpassed sales activity. This is resulted in further gains in inventory levels. Elevated inventories relative to sales caused months of supply to rise to nearly seven months.


According to CREB chief economist Ann-Marie Lurie,

“The slow start to the year does not come as a surprise, as concerns about job losses and the state of the energy sector weigh on consumers. We anticipate that the slow market conditions will persist throughout much of the first quarter.”

2019 Outlook

It should also be noted that CREB has released their 2019 Real Estate Forecast. According to the forecast summary, the...

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Hello there, 2019! Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!


In their latest media release, CREB has highlighted that job market weakness and lending restrictions was a common thread in 2018’s housing market.


As of December 2018, an oversupply continues in Calgary’s housing market. Prices for the month were lower compared to both the previous month, as well as the previous year.


According to CREB Chief Economist Ann-Marie Lurie,

“Persistent weakness in the job market and changes in the lending market impacted sales activity in the resale market this year. This contributed to elevated supply in the resale market, resulting in price declines.”


Regarding sales, a total of 794 units were recorded for the month, which shows a decline of 21% compared to December 2017. Overall year-to-date sales in the city totaled 16,144 units, which is 14% lower than the total in 2017, and is also almost 20% below long-term averages....

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It's now the new year and yesterday morning I pulled off the stats for the month of December 2018 from the Calgary MLS® System.


While December is normally a slow month for sales and listings, it's VERY CLEAR  2018 was an incredibly slow year for real estate sales and deals were available at every turn (if you knew where to find them). January is expected to slowly be populated with new listings. If you were waiting for the good selection of homes to choose from, don't wait any longer than the third week in January to start your hunt!


So, how is the market?


Here is the breakdown as of yesterday morning:


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

  • 4,976 properties available in inventory
  • 779 properties marked sold in the last 30 days
  • That makes 6.39 MONTHS of inventory  a strong BUYERS' market


DETACHED homes:

  • 2,634 properties available in inventory
  • 484 properties marked sold in the last 30 days
  • That makes 5.44 MONTHS...
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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...

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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...
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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'...
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City of Calgary, August 1, 2018 – Recent struggles in the job market, accompanied by yet another interest rate increase, is piling on to the decisions potential purchasers have to make in the housing market.


The month of July saw 1,547 units sold in Calgary, nearly five percent below last year. New listings eased to 2,964 units, causing inventories to total 8,450 units. With more supply than demand, prices continued to edge down, with a citywide average of $435,200. This amounted to a month-over-month price decline of 0.30 percent and year-over-year decline of 1.89 percent.


"Despite some positive momentum in some aspects of our economy, our job market has continued to struggle as of late, with some easing in total employment levels over the past few months and persistently high unemployment rates," said CREB® chief economist Ann-Marie Lurie.


"Also, the Bank of Canada raised rates again in July. Rising costs, combined with a slow recovery, are weighing on the demand for resale...

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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?

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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.
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