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CREB® Statistics – A Bumpy Road to Recovery
The Calgary Real Estate Board (CREB®) has released their statistic report for Feburary 2018. A couple of quick statistics to take away from the article:
- Sales totaled 1.094 units in February, 18 per cent below last year’s activity.
- Citywide benchmark prices totaled $434,300 in February, which is just above levels recovered last month, but comparable to levels recorded last year.
- Year-over-year price growth remained relatively stable in both the detached and attached markets, apartment prices remained three per cent below last year’s levels.
For the full report, continue below. As always, if you’re interested in finding out what these statistics mean for you and your specific property, feel free to get in touch with me at any time; sparanych@outlook.com or 403.703.1052.
Calgary housing market prices hold, but sales fall
Residential home sales declined in February, but a decline in new listings helped keep prices steady this month.
Sales totaled 1.094 units in February, 18 per cent below last year’s activity. Easing sales occurred across all property types this month, which outpaced the sales growth that occurred in January. After the first two months of the year, sales activity remains well below longer-term averages.
“Housing market conditions are still adjusting to rising lending rates and changes in lending requirements. This process is expected to be bumpy, with demand adjustments leading the changes,” said CREB® chief economist Ann-Marie Lurie.
“However, it is important to remember that it is early in the process and the impact on prices will ultimately be dependent on the supply response.”
A decline in new listings was not enough to prevent further gains in inventory levels, but it offset some of the impact of slower sales activity. In the detached sector, one of the largest declines in sales occurred in the $600,000 – $999,999 range, while this price range also recorded gains in new listings.
“This is a market where the fundamentals of a sound pricing strategy need to be understood by sellers. At the same time, savvy buyers typically have a clear understanding of how much of a mortgage they can get,” said CREB® president Tom Westcott.
“With all the recent changes, potential purchasers should be obtaining pre-approvals so they understand exactly what they can afford prior to making an offer on a home. It also provides them flexibility in this market.”
Citywide benchmark prices totaled $434,300 in February, which is just above levels recovered last month, but comparable to levels recorded last year. While year-over-year price growth remained relatively stable in both the detached and attached markets, apartment prices remained three per cent below last year’s levels.
Click here to view the full City of Calgary monthly stats package.
Click here to view the full Calgary region monthly stats package.
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403-703-1052
Source: CREB®
Just Listed – 1028, 200 Brookpark Drive SW
Welcome to Cedarbrook Park, a pet friendly complex close to plenty green space and parks!
Quick Details:
– Listed at $219,900
– 1021 Square Feet
– 2 Bedrooms
– 1 Bathroom
– 1 Parking Stall Outside Front Door
This spacious, end unit, townhome has been extensively renovated and there is nothing for you to do except move in. The main floor has an expansive open floor plan where the kitchen has been completely modernized with marble-like countertops, striking grey cabinets, and a full stainless-steel appliance package.
Floors in the entire home have been upgraded with designer selections including the marble-like laminate in the front entry and bathroom, contemporary laminate throughout the main floor, and carpet throughout the bedrooms.
The second-floor hosts two large bedrooms, both with walk-in closets, a spacious 4-piece bathroom, and an extra storage area.
The outdoor, assigned parking stall is just steps from the front door. Cedarbrook Park is close to many amenities including parks, shopping, schools, and the Southland Leisure Centre.
Check out the full listing details for 1028, 200 Brookpark Drive SW.
Come see it for yourself, get in touch today to book a private viewing!
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403.703.1052
CREB® Statistics – Housing Market Déjà Vu in January
The Calgary Real Estate Board (CREB®) has released their statistic report for January 2018. A couple of quick statistics to take away from the article:
- Overall January sales totaled 958 units, nearly two per cent above last year and 11 per cent below long-term averages.
- Citywide, unadjusted prices totaled $432,300, 0.21 per cent below last month and 0.25 per cent below last year’s figures.
- In the detached sector, new listings rose with declining sales activity for product priced over $500,000.
For the full report, continue below. As always, if you’re interested in finding out what these statistics mean for you and your specific property, feel free to get in touch with me at any time; sparanych@outlook.com or 403.703.1052.
As expected, Calgary sales activity similar to last year
The new year opened predictably, with monthly figures close to the Januarys of the past three years.
With new mortgage rules and rates officially in effect, sales activity in January remained comparable to last year, as rising sales for attached properties were not enough to offset declines in both the apartment and detached sector.
Overall January sales totaled 958 units, nearly two per cent above last year and 11 per cent below long-term averages.
“2018 was kicked off with higher rates and the official implementation of the new mortgage requirements. While it is too early to see the impact of these changes, so far, January levels are consistent with what we saw last year,” said CREB® chief economist Ann-Marie Lurie.
“The recovery will be bumpy, and we will continue to monitor the impact of the lending changes relative to the overall economic climate.”
Stable sales were met with rising new listings, causing further gains in inventory levels and impacting prices. Citywide, unadjusted prices totaled $432,300, 0.21 per cent below last month and 0.25 per cent below last year’s figures. Prices eased across all product types compared to last month, but price declines were more pronounced in the apartment and attached sectors.
In the detached sector, new listings rose with declining sales activity for product priced over $500,000. However, product priced between $300,000 and $399,999 saw an increase in activity. This will be an adjustment to the new reality buyers and sellers face, as pockets of the market will experience a mismatch between supply and demand.
“Sellers needs to be aware of the competing supply in the market. This can influence the timing of their decision, along with setting realistic expectations regarding time on the market and selling price,” said 2018 CREB® president Tom Westcott. “For buyers, getting pre-approved for a mortgage is essential, along with getting advice from a REALTOR® to get into a home they will be happy with.
Click here to view the full City of Calgary monthly stats package.
Click here to view the full Calgary region monthly stats package.
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403-703-1052
Source: CREB®
CREB® Statistics – Two sides of the story
The Calgary Real Estate Board (CREB®) has released their statistic report for December 2017. A couple of quick statistics to take away from the article:
- The detached benchmark price in 2017 averaged $504,867, 0.63 per cent above last year’s levels.
- In the second half of 2017, a late rise in inventory levels took some of the momentum away from price growth. On an annual basis, attached prices totaled $332,325, comparable to last year’s levels.
- We are ending the year with stronger sales in the last quarter, but supply levels are holding back price gains.
For the full report, continue below. As always, if you’re interested in finding out what these statistics mean for you and your specific property, feel free to get in touch with me at any time; sparanych@outlook.com or 403.703.1052.
Sales activity for all product types improved in December and pushed monthly sales to long-term averages for the second month in a row.
However, new listings also rose, keeping inventory elevated compared to typical levels for December. With more supply remaining compared to sales, benchmark prices edged down for the fifth consecutive month.
“Many of the economic indicators continue to post modest improvements, including improving sales. However, demand gains have not outpaced the additional supply coming into the housing market.
This is creating some of the bumpiness in terms of price recovery,” said CREB®chief economist Ann-Marie Lurie, who added that prices have stayed comparable to last year.
The gap between detached supply and demand closed in the first half of 2017 and supported early price growth. As prices improved, this was perceived as a signal for many who delayed selling their home, and caused a late rise in inventory that limited price growth.
Overall, the detached benchmark price in 2017 averaged $504,867, 0.63 per cent above last year’s levels.
Challenges continue to face the apartment sector, with elevated supply in the resale market. The new home and rental markets weighed on this sector. The excess supply caused average annual benchmark prices to decline by four per cent this year. This is a total annual adjustment of nearly 12 per cent since the start of the recession.
In the attached sector, the first half of the year saw an improvement in sales relative to inventory levels. This supported stronger price gains in the second and third quarter. However, a late rise in inventory levels took some of the momentum away from price growth. On an annual basis, attached prices totaled $332,325, comparable to last year’s levels.
“This year, we saw a rise in the number of consumers willing to purchase in the market with the expectation that the economy had already shifted. There were also many who waited to list their property until prices showed more stability,” said CREB® president David P. Brown.
“Those who acted were typically driven by long-term plans that best suit their current lifestyle. We are ending the year with stronger sales in the last quarter, but supply levels are holding back price gains. The year played out as expected with a transition from price declines to general price stability in most sectors of the market.”
Click here to view the full City of Calgary monthly stats package.
Click here to view the full Calgary region monthly stats package.
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403-703-1052
Source: CREB®
CREB® Statistics – Home Improvement
The Calgary Real Estate Board (CREB®) has released their statistic report for November. A couple of quick statistics to take away from the article:
- Sales totaled 1,411 units in November, an increase of 15 per cent over last year.
- Citywide benchmark prices totaled $436,700, 0.50 per cent below last month, but 0.46 per cent above last year’s levels.
- The largest gains in the detached sector were in the $300,000 – $399,999 price range, while the apartment and attached sectors saw the largest gains among homes priced below $300,000.
For the full report, continue below. As always, if you’re interested in finding out what these statistics mean for you and your specific property, feel free to get in touch with me at any time; sparanych@outlook.com or 403.703.1052.
November marks a rise in sales
The November housing market was spurred by a rise in sales, particularly in the lower price ranges.
Sales totaled 1,411 units in November, an increase of 15 per cent over last year. This is comparable to longer-term averages for the month of November. Improved sales activity occurred in each of the housing segments, with most of the gains occurring in homes priced under $500,000.
“The combination of improved confidence and pending mortgage rule changes have likely contributed to the stronger sales activity this month,” said CREB® chief economist Ann-Marie Lurie. According to Lurie, the last time that sales activity rose to long-term averages for the month was October 2016, when the stress test for high-ratio loans was first announced.
“Moving forward, we will continue to monitor shifts in demand as improving economic conditions should help offset the impact to the housing market after the new lending policy comes into force in January,” said Lurie.
The largest gains in the detached sector were in the $300,000 – $399,999 price range, while the apartment and attached sectors saw the largest gains among homes priced below $300,000.
“We have seen some improvements in confidence with many of our clients. There are some concerns regarding the changes in the lending market, but there is also a significant amount of confusion regarding how it will affect them,” said CREB® president David P. Brown.
“For a lot of buyers, they are interested in taking advantage of the choice in the market at all price ranges.”
The rise in sales relative to new listings improved this month, helping ease inventory levels over the previous month and keeping the months of supply relatively stable. However, the amount of supply relative to the sales in the market remains elevated. This continues to weigh on prices.
Citywide benchmark prices totaled $436,700, 0.50 per cent below last month, but 0.46 per cent above last year’s levels. Both median and average prices recorded a more significant decline compared to last year. This should not come as a surprise, as more sales in the lower price range this year compared to last November would cause a more pronounced drop in average and median prices.
Click here to view the full City of Calgary monthly stats package.
Click here to view the full Calgary region monthly stats package.
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403-703-1052
Source: CREB®
CREB® Statistics – Status quo for Calgary’s housing market
The Calgary Real Estate Board (CREB®) has released their statistic report for October. A couple of quick statistics to take away from the article:
- October sales and inventories totaled 1,467 and 6,463 units for a month of supply of 4.4.
- 62 per cent of the inventory in the city-wide market is priced below $500,000.
- The largest monthly price change occurred in the apartment condominium sector which recorded an unadjusted monthly decline of 0.8 per cent, resulting in a 13 per cent spread over monthly highs recorded in 2014.
For the full report, continue below. As always, if you’re interested in finding out what these statistics mean for you and your specific property, feel free to get in touch with me at any time; sparanych@outlook.com or 403.703.1052.
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 per cent 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 to lending policy. The combination of these factors is impacting housing demand, which is prolonging the pace of recovery.”
Resale inventory gains occurred in each product type and across most districts in the city. The largest gains were in districts with substantial new development growth.
In the detached segment, the largest number of units added to inventory occurred in the $300,000 – $500,000 price range. This represents nearly 42 per cent of all detached inventory. 62 per cent of the inventory in the city-wide market is priced below $500,000.
“There is far more product availability in the lower price ranges now compared to several years ago,” said CREB® president David P. Brown.
“This provides more options for potential buyers concerned about their purchasing power given all the changes in the lending market.”
The largest monthly price change occurred in the apartment condominium sector which recorded an unadjusted monthly decline of 0.8 per cent, resulting in a 13 per cent spread over monthly highs recorded in 2014.
Despite some recent adjustments, prices in the attached and detached segments remain relatively stable compared to last year.
Click here to view the full City of Calgary monthly stats package.
Click here to view the full Calgary region monthly stats package.
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403-703-1052
Source: CREB®
Auburn Bay and Sunalta Open House!
This weekend I’m hosting two open houses!
On Saturday, October 14, 2017, I will be hosting an open house at 43 Auburn Bay Common SE from 2.00pm – 4.00pm. Come by to check out this gorgeous townhome in a lake community!
Quick Details:
– Listed at $284,900
– 917 Square Feet
– 2 Bedrooms
– 1.5 Bathrooms
– Double Attached Tandem Garage
Check out the full listing details here.
On Sunday, October 15, 2017, I will be hosting an open house at #302, 1821 11 Avenue SW from 2.00pm – 4.00pm. Come and view this penthouse loft in the heart of the city!
Quick Details:
– Listed at $169,500
– 555 Square Feet
– 1 Loft Bedroom
– 1 Bathroom
– Underground Parking
Check out the full listing details here.
As always, if you have any questions you would like answered before the weekend, feel free to give me a call at 403.703.1052.
See you soon!
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403.703.1052
Just Listed – 302, 1821 11 Avenue SW
Welcome to Sunalta Gardens, a pet friendly building in the heart of the city!
Quick Details:
– Listed at $178,500
– 555 Square Feet
– 1 Loft Bedroom
– 1 Bathroom
– Underground Parking
This penthouse loft is the ideal condo for your exclusive living style, complete with underground parking. Plenty of space in your new home with a large front entry, spacious living room, kitchen, dining area, and full bathroom.
Retreat upstairs to your loft bedroom complete with a substantial built-in closet system and an additional area, ideal for your home office or lounging. Don’t let the square footage fool you, because of the unique slope of the ceilings in the loft, there is plenty more usable floor space.
Outside your unit door is access to the massive, sunny, south facing, rooftop terrace, perfect for entertaining. Walking distance to downtown, river paths, Kensington, and 17th Ave. Quick access to transit with the LRT only two blocks away!
Check out the full listing details for 302, 1821 11 Avenue SW.
Come see it for yourself, get in touch today to book a private viewing!
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403.703.1052
CREB® Statistics – The big picture
The Calgary Real Estate Board (CREB®) has released their statistic report for September. A couple of quick statistics to take away from the article:
- Inventories rose across all property types to 6,861 units, while both apartment and attached-style properties saw the highest inventory on record for the month of September.
- New listings in September totaled 3,266 units, a year-over-year gain of nearly 10 per cent.
- Prices in the detached sector remain relatively stable compared to last year. Condominium apartment prices remain four per cent below 2016 levels and twelve per cent below 2014 highs. This sector continues to struggle with price declines resulting from excess supply as months of supply pushed above eight months.
For the full report, continue below. As always, if you’re interested in finding out what these statistics mean for you and your specific property, feel free to get in touch with me at any time; sparanych@outlook.com or 403.703.1052.
Inventory increases and sales drop in September, but overall sales for the year remain higher than last year.
Strong gains in the first-half of 2017 has put the Calgary year-to-date sales at seven per cent above last years’ levels and 11 per cent below long-term averages, but challenges remain with easing sales and rising new listings.
Inventories rose across all property types to 6,861 units, while both apartment and attached-style properties saw the highest inventory on record for the month of September.
“The recent rise in inventories is preventing further price recovery as sales activity has moderated over recent months. This does not come as a surprise as sales activity is expected to remain modest by historical standards until more substantial economic improvements take hold,” said CREB® chief economist Ann-Marie Lurie.
“Some may consider this a setback, but it is important to note that recent movements are balancing out the higher than expected gains that occurred in the first-half of the year.”
New listings in September totaled 3,266 units, a year-over-year gain of nearly 10 per cent.
“There are several factors influencing new listings. Given the falling prices over the past two years, some sellers were waiting for market conditions to improve prior to listing their homes. More stability in the market has prompted many of those sellers to no longer delay their listing decision,” said CREB® president David P. Brown.
“In some segments, rising new home inventories are also impacting total housing supply. Ultimately, prices are affected. However, this inventory also opens up opportunity for buyers to step up into a home that was financially unattainable.”
As of September, unadjusted benchmark prices totaled $441,500. This is 0.2 per cent below last month, but nearly one per cent above last year. Downward price pressure this month occurred across most product types. However, year-to-date benchmark prices in the detached sector remain comparable to last year.
Prices in the detached sector remain relatively stable compared to last year. Condominium apartment prices remain four per cent below 2016 levels and twelve per cent below 2014 highs. This sector continues to struggle with price declines resulting from excess supply as months of supply pushed above eight months.
Click here to view the full City of Calgary monthly stats package.
Click here to view the full Calgary region monthly stats package.
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403-703-1052
Source: CREB®
Just Listed – 43 Auburn Bay Common SE
Welcome to Mosaic Montage in Auburn Bay, a pet friendly complex in a gorgeous lake community!
Quick Details:
– Listed at $289,900
– 917 Square Feet
– 2 Bedrooms
– 1.5 Bathrooms
– Double Attached Tandem Garage
This 2 bedroom, 1.5 bathroom townhome is the perfect starter home or investment property. Upon entering your new home, you are welcomed into a warm and inviting living area. An open concept kitchen features large granite island, stainless steel appliances, and plenty of storage.
The generous, queen sized master bedroom is complete with his and hers closets. The second floor is rounded off with upstairs laundry, a large 4-piece bathroom, and a second bedroom.
A private, south facing, patio out your front door is the perfect place to retreat with an abundance of sunshine. There is plenty of storage and parking space with a large double, tandem attached garage.
Just steps away from a playground and a quiet walking path around a pond. Only minutes to the lake, schools, South hospital, shopping, restaurants, and more!
Check out the full listing details for 43 Auburn Bay Common SE.
Call today to book your private viewing!
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403.703.1052
