Real Estate Blog

Hi There

Please see the link below to view the Housing Forecast for 2018!

https://bb.remax.com/bbext/?p=email&id=ade61d27-ae90-33db-4f58-2243dd206df0&isRemax=true 

All the best in 2018

Ken

 

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"Optimism" is the word that best describes what we can expect in the Calgary real estate market in 2018. After nearly three years of slow real estate sales, growing inventory and stagnant prices, 2018 has started off with increased activity, more property inquiries and growing optimism for the Calgary real estate market.

"For myself, I am an optimist--it does not seem to be much use being anything else". -- Winston Churchill

If you have been sitting on the fence and not sure if now is the right time for you to purchase that first home or to sell and move up? Contact us today for a straight forward conversation on what we can do to assist you with your real estate needs!

 

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In the trenches...

Happy New Year! 2016 certainly had it's challenges and I'm looking forward to 2017 with renewed optimism. December's statistics are always hard to get any sort of meaningful information from due to the fact that people become very busy during the Holiday Season and the real estate market tends to get fairly quiet. January has historically been a busy month so I am very curious as to what happens this month. Detached homes continue to be the strongest segment of the market and apartments continue to be the weakest. The type of market conditions being experienced continues to depend on what type of property it is and what price range it is in. As always, if you are curious about what is happening with the market in general, or in your

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In the trenches...

As mentioned last month, I was hopeful that the city-wide sales increase we saw in October was a sign of market recovery and not just a result of buyers making purchases before the new mortgage rule changes took effect in mid-October. Unfortunately, it looks like the gains in last month's sales were only temporary as November sales totalled 1227 units, which is nearly three per cent lower than last year and 17 per cent below long term averages. When I was out showing homes to buyers in November, I still noticed that properties that showed very well and were priced properly were selling quickly (and sometimes with competing offers). Detached homes continue to be the strongest segment of the market and apartments continue to be the

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In the trenches...

City-wide sales in October totaled 1644 units, which is an increase of almost 16 per cent over last year. I feel this was in large part to many buyers making purchases before the new mortgage rule changes took effect in mid-October. I really hope this is a sign of market recovery but we will need to see this continue for several more months before we can make that assumption. The detached home sector continues to lead in terms of sales activity with the apartment sector continuing to be the weakest. Despite the rise in October sales, monthly prices continued to decline for most product types in the market. The type of market conditions being experienced continues to depend on what type of property it is and what price range it is

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Detached sales in Calgary totaled 8835 so far this year, which is 5.2 % below last year. Despite aggregate declines, sales activity for detached properties improved in the City Centre, North West and West areas of the city. We have seen this first hand with buyers we have looking in those areas, as many new properties have come on the  market and sold very quickly, sometimes with competing offers. On the flip side, apartment sales continue to be weak with sales having declined by 19% this year while inventory has increased by 18% on average. The type of market conditions being experienced continues to depend on what type of property it is and what price range it is in. As always, if you are curious about what is happening with the market in general, or

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In the trenches...

Overall year-to-date sales declined across all areas of the city. However we continue to to see detached sales growth in the City Centre, West and North West areas of the city. I noticed this first hand with a property we listed in Cougar Ridge in mid-June for $549,900. It generated 2 offers and conditionally sold in 2 days. What has been helpful in mitigating further price declines has been the fact that we have not seen substantial city-wide inventory gains. Apartments and row house sales continue to have the largest decline in sales volume. The type of market conditions being experienced continues to depend on what type of property it is and what price range it is in. As always, if you are curious about what is happening with the

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In the trenches...

Total residential inventories increased across each district in May. However, detached inventory levels are trending down in the city centre, west and east areas of the city. I am currently working with buyers in all three of those districts and I would say it feels that way while we are searching. There are stagnant properties that have been on and off the market for the last 12 to 18 months but the good new inventory doesn't seem to last too long before selling.The decline in year to date detached sales was caused by slower sales in the North East, North, South and South East areas of the city. Apartment sales continue to be very slow and year to date are down 20% compared to 2015. The type of market conditions being experienced

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In the trenches...

While we have noticed more activity in the spring market on our listings, year over year sales fell, while new listings increased, resulting in inventory gains across all sectors of the market. As a result, prices in Calgary declined by 0.4 per cent from last month and 3.4 per cent from last year. Seven consecutive months of price declines has sellers starting to re-consider whether to sell their home right now and, if they are going to try and sell, lowering their expectations on price. The detached sector continues to fare better compared to other sectors of the market and apartment condo inventory has risen to a level not seen since 2010. The type of market conditions being experienced continues to depend on what type of property

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In the trenches...

With unemployment rates having reached levels higher than the previous recession, consumer confidence and and housing demand have certainly been impacted resulting in slow sales and elevated housing inventory. There were 1127 sales in February 2016, down 6.63% from February 2015 and 37% lower than the long-term averages for February. Overall, market conditions continue to favour the buyer and there are plenty of great properties available at market adjusted list prices. The type of market conditions being experienced continues to depend on what type of property it is and what price range it is in. As always, if you are curious about what is happening with the market in general, or in your specific neighbourhood, please call or email

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