Archive for the ‘Market Statistics’ Category

Calgary Real Estate Market Update – April 2017

Monday, May 1st, 2017

April was another solid month for the Calgary Real Estate Market. As a whole, sales were up 8.43% over April last year. Inventory is back down to more normal levels and is 12.09% lower than last year. Prices are slowly continuing to rise with average prices being up 3.87%  year over year. The market appears set to sustain this momentum through the busy Spring and Summer months ahead.

Please click this link for the full City of Calgary Real Estate Market Statistics package from Creb: April 2017 Stats

Our team had a very successful month as well. Once again, we ended the month as the Top Producing Real Estate Team at our office, Century 21 Bamber Realty Ltd. This is the fourth consecutive month we have achieved this honour.

We were very busy in April with listings. Several properties that we listed recently have conditionally sold after only a few days on the market. There is lots of interest for detached single family homes. This is a great time to consider selling as this is the strongest Spring market we have experienced in a few years.

If you have any needs in regards to buying or selling a Calgary and greater area property, please contact us today!

Home Sweet Home Team

403.874.9021

HomeSweetHomeTeam.ca

 

 

 

Calgary Real Estate Market Update- March 2017

Monday, April 3rd, 2017

Happy April! It’s kind of hard to believe that Winter has already come and gone. We can’t say we currently miss it too much as we have been loving the Spring weather in Calgary thus far.

The weather wasn’t the only thing that was heating up in March as the Calgary Real Estate Market continued its transition in to a balanced market. The promising start to the active spring season saw 1,906 properties sell in Calgary, which was a 20% increase over this time last year. Overall home inventory was down over 16% compared to last year. Average home prices were up 4.67% over last March. These conditions provide a pretty optimistic outlook for sellers and the market for the remainder of Spring.

Our team had a very successful March. It was our busiest month to date with us selling 16 properties in all areas of the market including inner-city condo’s, rural estate homes, new builds and single family homes through-out Calgary. We are excited to see what the rest of spring has in store for us.

If you have any questions regarding the Calgary Real Estate Market please contact us today. The Home Sweet Home Team is happy to provide you with any additional insight you would like regarding the market and the stats for the year so far. If you have any real estate needs, the Home Sweet Home Team is here for you.

For the full Calgary Real Estate Board Stats Package please click here: March 2017 Stats Package

Home Sweet Home Team

The Top Producing Team at Century 21 Bamber Realty Ltd.

HomeSweetHomeTeam.ca

 

 

 

Calgary Housing Market Outlook & Forecast 2017

Thursday, January 12th, 2017

Calgary Bridge (small)

 

 

 

 

 

 

 

 

 

 

We received great insight from yesterday’s Calgary Real Estate Board 2017 housing forecast that we wanted to pass on to you. The forecast provided an economic and housing expert outlook for Calgary and its surrounding rural communities.

Overall, the outlook for Calgary’s market is positive. We aren’t anticipating declines that were experienced in home prices and sales across the board last year. Instead, we are expecting to see a stabilized market with a projected growth of 3% in sales and 0.8% in home prices. This will help reduce the supply of home inventory levels as Calgary’s economy continues along its recovery process.

 Please clink the link below for the full Calgary and surrounding rural area housing forecast for your viewing pleasure.

2017 Forecast Report

If you or anyone you know have any real estate needs, or questions regarding the market, please do not hesitate to contact the Home Sweet Home Team.

HomeSweetHomeTeam.ca

July Calgary Real Estate Statistics

Thursday, August 1st, 2013

CREBS monthly real estate statistics have just been released for July 2013. Check them out!

The Calgary residential real estate market is still very HOT. It is a great time to consider selling your home to capitalize on what is quickly becoming a seller’s market. If you are considering buying a home, the prices are only going to rise so it is still a great time to purchase. Contact Us today at the Home Sweet Home Team and we will take care of all your Calgary real estate needs!

 Calgary, Aug. 1, 2013 – City of Calgary residential sales totaled 2,268 units in July, a 17 per cent increase over the previous year and up more than six per cent so far this year.

The flood that devastated the Calgary area on June 20 likely contributed to pulling forward sales activity, said Ann-Marie Lurie, CREB® chief economist.

“Some of this activity is related to the displaced renters and owners seeking other accommodation,” said Lurie. “But those consumers already searching for a home may have sped up their purchase decision, in response to concerns regarding the impact tight supply levels would have on prices.”

The Calgary resale market is firmly in sellers’ territory, supporting price growth. While citywide prices are nearly seven per cent higher than levels recorded in July 2012, the unadjusted monthly gains have been easing. The benchmark price for the city of Calgary totalled $414,100 in July 2013.

“Some sellers have been waiting for prices to recover before listing their homes,” said President Becky Walters. “Current market conditions have encouraged listing growth this month, for single-family homeowners.” A total of 1,575 single-family homes sold in July, a 14 per cent increase over the previous year. Year-to-date, the growth is 2.5 per cent. While year-over-year new listings increased in July to 1,958 units, it was not enough to ease supply pressures in the market. Overall, active listings declined to 2,917 units, nearly 20 per cent lower than already declining levels recorded in 2012.

A total of 693 condominium apartments and townhouses sold in the month, a combined increase of 26 per cent over the previous year, and a year-to-date growth of 16 per cent.

Stronger sales growth in the condominium market relative to the single-family market is in part related to availability in the affordable price ranges. Year-to-date, there have been more new listings priced under $400,000 in the condominium sector than in the single-family market.

“Clients looking for affordable homes are considering community, product and price,” Walters said. “While there are affordable single-family homes in some communities, some may prefer condominiums in the same price range so they can live in a preferred community or get a home that requires less
renovation.”

The growing demand for condominiums has also led to a tightening of supply. July active listings in the apartment and townhouse segment declined to 768 and 407 units respectively.

Tight market conditions supported price growth for all categories in July. However, unadjusted monthly gains were strongest in the apartment sector. Apartment prices totaled $267,600 in July, a 1.4 per cent increase over the previous month and nearly eight per cent higher than the previous year. The benchmark price for single-family and townhouses were a respective $461,600 and $294,500 for the month.

“While the flooding will alter sales, listings and price trends in the affected areas, the impacts on the entire resale market will likely play out over the coming months,” said Lurie. “July sales growth has been stronger than year-to-date trends and longterm averages. However, if the level of new listings continues to rise, this could help ease tight market conditions.”

Click Here to view the full statistics package courtesy of CREB.

Source: http://www.creb.com/public/documents/statistics/2013/package/res-stats-2013_July.pdf

Calgary Region Second Quarter Housing Statistics

Tuesday, July 23rd, 2013

CREB has just released the 2nd quarter statistics for the Calgary housing re-sales market. Overall, the Calgary real estate market is performing exceptionally well as its pacing Canada in activity and in sales prices!

The Calgary housing market is being paced by luxury homes sales which is now higher at this point in the year than it was in the entirety of 2012. July set a record as it was the first month that Calgary has experienced 4 homes selling in the same month for over $4 million each. These home sales are being attributed to Calgary luxury homeowners being forced back in to the real estate market by the Calgary flood crisis.

NW Calgary

In terms of Calgary housing region specific statistics, NW Calgary outpaced the rest of the city in the 2nd quarter of the year, which is from April to the end of June. Zone A is the area that covers the NW region of the city and over this period of time there were 1, 8333  single family home sales with an avg. price of $522, 242 which is up substantially from the 1st quarter of the year which saw 1,325 home sales with an avg. price of $501, 672. The community in NW Calgary with the most sales over this period of time was Tuscany.

SW Calgary

Ranking in behind zone A for the second most single family home sales in the past quarter was Zone C, which covers the SW region of Calgary. SW Calgary totalled 1, 432 home sales with an avg. price of $658, 742. This avg. sales price was the highest in Calgary for the 2nd quarter. The community with the largest number of home sales over this period of time in SW Calgary was Evergreen.

SE Calgary

The SE Calgary region, which is considered Zone D, finished the quarter with the third most sales with 1, 034. The avg. sales price for a home over this time period was $460, 789. The community with the most sales in SE Calgary  was Mckenzie Towne.

NE Calgary

NE Calgary, which is considered Zone B, finished the quarter with the lowest amount of single family home sales in Calgary with 720. The avg. home sales price in this region was $326, 029, much lower than all the other regions in the city. The community with the most sales in this region of Calgary was Temple.

For a full PDF of Calgary second quarter home sales statistics courtesy of Calgary Herald and CREB, please Click Here

If you are interested in buying or selling a Calgary property, please Contact a Home Sweet Home Team Real Estate Associate. We would be more than happy to help you find your dream Calgary property or provide you with a free market evaluation of your home.

Record Breaking June for Calgary Real Estate Market

Tuesday, July 2nd, 2013

Despite the impact of the flood disaster, the Calgary residential real estate market experienced another record breaking month!

Home sales activity for the month of June exceed expectations once again, with the Calgary real estate market continuing to pick up strength. Total residential sales for the month of Calgary came to 2,317, a 5 % increase over the 2,196 sales from June 2012. The average sales price of a Calgary home finished at $466,458, a 5.60% increase from June 2012. This surpasses the previous record average sales price which was recorded in May this year, at a price of $462,076.

The Calgary single family average price also hit a new high at $527,161, beating May’s record of $521,887. The number of new listings dropped once again to 3,003, a 9 % drop from the inventory of new listings in June 2012.

With high sales and low inventory, this is turning the Calgary real estate market in to a sellers market. With the low inventory we are seeing more buyers purchase homes immediately and for higher prices, to prevent them from losing a desirable home in a competing offer situation. Calgary condo sales surpassed single family home sales as the lack of affordable single family homes are driving many buyers to the more affordable condo market.

Despite the success in the market, it’s expected that the recent flood crisis will impact the Calgary real estate market dynamics. We are expected to experience this impact over the next couple of months as communities affected by the floods will face serious challenges. However, it is too soon to tell exactly how much the market will be impacted.

Anne- Marie Lurie, CREB® chief economist, had this to say about she feels the Calgary flood crisis will affect the real estate market in the upcoming months.

“While sales and prices continue to show improvement, the city and residents of communities impacted by the recent flooding will face significant remediation challenges over the coming months,” said Ann-Marie Lurie, CREB® chief economist. “Until the extent of the damage is known, it is difficult to accurately assess the full impact this will have on the city’s housing market.”

“In the coming months, flood victims, particularly those who were planning on selling their homes, will have some big decisions to make,” said Becky Walters, CREB® President. “Will they take a discounted price? Or will they stay and fully remediate the property? Either way, in the short term, housing supply will likely be relatively tight.”

“The tighter market conditions are placing upward pressure on pricing in all city sectors,” said Lurie. “While the areas affected by the flood may face some short-term impacts on pricing, any adjustments occurring are unlikely to outweigh the impacts on the overall city wide price growth.”

To view the Calgary Market Statistics Package from CREB® please Click Here

If you are considering selling your Calgary home and want take advantage of this sellers market or if you are interested in buying a Calgary property before the prices increase higher, please Contact Us today! We are the Home Sweet Home Team and we are here for YOU!

Calgary’s March Real Estate Market Statistics

Tuesday, April 2nd, 2013

Tightened housing supply curbs sales volume

First quarter sales improve in condominium market, while declining in single family sector

The inventory of active homes for sale in Calgary are the lowest March levels in more than five years.  The decline in new listings hampered resale sales growth, which declined by more than two per cent in March compared to March 2012.

 

New listings in March are five per cent lower than levels recorded in 2012, and five per cent lower after the first quarter.  The overall active listings stand at just 4,006 units, up from February’s levels but well below the number available one year ago.

 

“Less resale product available to consumers is ultimately limiting sales growth,” said CREB® President Becky Walters. “In addition, resale homes are selling in less time and with continued upward pressure on prices.”

 

Walters said buyers have grown accustomed to a market when they have more time to make decisions because there was ample supply. But, as market conditions have tightened, if they are serious about purchasing a resale home, they can no longer significantly delay that decision, she said.

“While market conditions are a far cry from activity witnessed throughout the frenzy in 2006 and 2007, there has been a noticeable change over what became the norm over the past few years.” Walters said.

 

Single-family, year-over-year sales growth declined by six per cent in March, a reflection of declining supply. Active inventory totaled 2,713 units, 22 per cent lower than levels recorded in 2012, and the lowest March inventory level recorded since 2007. The market balance continues to trend into seller’s territory in this segment causing a year-over-year price increase of nearly nine per cent, for a total of $446,500 in March 2013.

 

“Tighter rental conditions and continued employment growth has supported housing demand growth,” said Ann-Marie Laurie, CREB®’s chief economist. “However, for those looking for more affordable single family home products, their choices continue to narrow.”

 

She said new single-family listings under $500,000 are declining at double-digit rates, driving consumers at that price point to either surrounding towns, condominiums or the new home market.

 

The condominium townhouse market is the only category to record a year-over-year rise in sales activity for the month.  This is in part because the level of new listings improved in March 2013 relative to March 2012.  Condominium year-over-year apartment sales declined by nearly three per cent in March.

However, after the first quarter, sales activity totaled 830 units a 6 per cent increase over the previous year.  Condominium townhouse sales totaled 652 units at the end of the first quarter, a 15 per cent increase over the previous year.

 

“The condominium apartment market remains in balance,” said Lurie. “While it has moved to the lower end of the spectrum, it remains better supplied then the single family market and the majority of product available is in an affordable price range.”

 

The benchmark apartment price totaled $257,700 in March, a six per cent increase over the previous year.  Meanwhile, the condominium townhouse benchmark price experienced a year-over-year increase of 4 per cent, to $286,800.

 

“Despite tighter market conditions, it is unlikely that we will have another significant run-up in prices,” said Lurie. “Outside of easing economic factors expected this year, consumers have options in the total housing market.”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source: http://www.creb.com/public/seller-resources/housing-statistics.php

Calgary’s February Housing Market Statistics from the Home Sweet Home Team

Friday, March 1st, 2013

 Total residential sales for the month of February 2013 totaled 1,711 units, a one per cent decline over the previous year. Accounting for the leap year in 2012, activity in the single family market resembles last year’s activity. However, even with one less day in the February 2013 figures, condominium sales have made significant gains increasing by 13 per cent relative to February 2012.
Year-over-year single family sales growth totaled 1,209 units in the month of February, as supply levels continued to decline, limiting choice for those in the market.

“When new product comes onto the market, buyers are not delaying their purchasing decisions as the majority of homes are selling in less time at prices closer to their list price,” said CREB® President Becky Walters. “The tighter market conditions have supported price growth, however despite the current gains, single family home prices remain below the unadjusted benchmark high of $451,000.”
The unadjusted single family benchmark price for February 2013 was $442,500, a 1.3 per cent increase over the previous month and nine per cent higher than levels recorded in February 2012.
“With less selection in the single family market, particularly at the lower price ranges, more consumers are turning to the condominium market,” said Ann-Marie Lurie, CREB® Chief Economist. “Throughout the downturn there were more single family homes priced under $400,000. However, over the past few years the number of new single family listings in this range represents a declining share of the market, leaving consumers looking for more affordable products.”
Improved sales activity combined with reductions in total inventory levels have provided room for growth in condominium prices. The condominium apartment benchmark price totaled $252,900 in February 2013, a six per cent increase over the previous year.

Meanwhile, townhouse condominium prices recorded a year-over-year increase of 4.7 per cent for a total of $283,200 in February.
“During the boom years, Calgary experienced significant growth in the employment sector and shortages in housing supply, ultimately creating frenzy amongst consumers driving up prices at unsustainable rates,” said Lurie. “Condominium prices have since corrected, and while the current price gains are a sign of recovery, the unadjusted condominium apartment and townhome benchmark prices still remain 14 per cent below the peak levels.”

While the average price reflects record levels in Calgary, those numbers can be misleading,” said Walters. “Last year there were more home sales in the higher-end segment of the Calgary market compared to 2007, and this trend has continued into 2013, causing the average price to rise above peak levels.”
CREB® focuses on the benchmark price which is based on the attributes of the home including repeat sales. This pricing methodology provides a better indication of how prices for similar properties have trended over time.
“While our economy does not reflect growth recorded pre-recession and continues to be plagued by short term risk, consumers are feeling confident about the long term prospects of this city and continue to support growth in our housing sector.” Said Lurie.

 

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Calgary Real Estate Board. 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.
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