Facebook
X
Pinterest
Copy Link
CREB® Statistics – Housing recovery a balancing act
The Calgary Real Estate Board (CREB®) has released their statistic report for August. A couple of quick statistics to take away from the article:
- Inventories totaled 6,624 units, where over half were comprised of attached and apartment style properties.
- Unadjusted city wide benchmark price totaled $442,300 in August. This is 0.3 percent below last month, but remains nearly one per cent above last year’s levels.
- With over seven months-of-supply, the excess supply continues to weigh heavily on the apartment condominium sector. As of August, the benchmark price totaled $263,300.
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.
Growth in new listings outpaced sales preventing inventory declines
Sales posted a modest gain in August, but a rise in new listings kept inventory levels elevated.
Inventories totaled 6,624 units, where over half were comprised of attached and apartment style properties. While inventories were 16 per cent higher than August 2016 levels, the slight rise in sales prevented further gains in the months-of-supply, which remain just above four months.
“Employment growth is contributing to the stability in sales activity, but it is not enough to meet the recent rise in listings and make a substantial dent in inventory levels,” said CREB® chief economist Ann-Marie Lurie.
“Unemployment rates remain elevated and job growth is mostly occurring outside the energy sector, slowing the recovery process. Broader economic improvements will be required prior to it translating into substantial improvements in the housing market.”
The second month of higher inventories compared to sales weighed on prices for the month. The unadjusted city wide benchmark price totaled $442,300 in August. This is 0.3 percent below last month, but remains nearly one per cent above last year’s levels. Overall total residential prices remain four per cent below peak levels.
“Buyers have several options in this market, and sellers need to continue to be realistic regarding the price they expect to receive for their home,” said CREB® president David P. Brown.
“While some of the buyers are re-entering the market, they are also considering all of their options prior to making a commitment.”
The pace of growth in detached sales has closely matched new listings this year. However, inventory levels continue to remain at 3,280 and months of supply pushed up to 3.32. Recent gains in months-of-supply prevented further gains in prices this month. Detached prices totaled $510,900 in August. This is slightly lower than last year, but 1.5 per cent above last year’s levels.
With over seven months-of-supply, the excess supply continues to weigh heavily on the apartment condominium sector. As of August, the benchmark price totaled $263,300. This is one per cent below last month and three per cent below last year’s levels. Downward price pressure in this sector is expected as supply levels remain elevated in the new, resale and rental 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 – Housing recovery remains a work-in-progress
The Calgary Real Estate Board (CREB®) has released their statistic report for July. A couple of quick statistics to take away from the article:
- City-wide sales totaled 1,637 units, six per cent below July 2016 levels. Year-to-date sales activity totaled 11,957 units, nine per cent above last year.
- City-wide months of supply rose to four months, as inventory levels reached 6,675 units this month. This is 17 per cent higher than last year.
- Apartment condominium product continues to face oversupply in the resale and new home sector, causing further price declines. In July, the apartment benchmark price was $266,200. This is a three per cent decline over last year.
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.
Market sees modest inventory gains, but overall prices inch up
Sales exhibited stable growth through the first half of the year in the Calgary housing market, but the number of transactions slowed slightly in July compared to last year.
City-wide sales totaled 1,637 units, six per cent below July 2016 levels. Year-to-date sales activity totaled 11,957 units, nine per cent above last year.
“Sales growth exceeded expectations so far this year. Clients were re-entering the market after delaying decisions until there were some signs of economic improvement,” said CREB®president David P. Brown.
“However, this recovery will require patience. There continues to be many new and resale ownership options available. This reduces the sense of the urgency for many consumers.”
Easing sales were met with higher new listings, causing further gains in inventory levels. City-wide months of supply rose to four months, as inventory levels reached 6,675 units this month. This is 17 per cent higher than last year, but still below July highs recorded in 2008.
“Modest improvements in the labour market and net migration were necessary to support the turnaround in the housing market,” said CREB® chief economist Ann-Marie Lurie.
“However, current inventory levels and changes in the lending market continue to weigh on housing demand. Easing demand growth combined with elevated levels of supply will slow the pace of price recovery in our market.”
Driven by detached and attached housing sales, city-wide prices in July improved over the previous month and the previous year. However, it is nearly four per cent below previous monthly highs. Year-to-date benchmark averages remain 0.44 per cent below last year’s levels.
Despite the current month activity, the detached sector continues to demonstrate conditions that are more balanced compared to last year.
Apartment condominium product continues to face oversupply in the resale and new home sector, causing further price declines. In July, the apartment benchmark price was $266,200. This is a three per cent decline over last year and nearly 12 per cent below peak prices.
For a full analysis of the Calgary housing market in 2017, please refer to CREB®‘s 2017 mid-year update to be released in mid-August.
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®
Collingwood and Spruce Cliff Open House!
This weekend I’m hosting two open houses!
On Saturday, July 22, 2017, I will be hosting an open house at 976 Northmount Drive NW from 2.00pm – 4.00pm. Come by to check out this large, corner lot home with beautiful curb appeal, mature trees, and landscaping.
Quick Details:
– Listed at $499,900
– 1217 Square Feet
– 3 Bedrooms
– 1 Bathroom
– Single Detached Garage
Check out the full listing details here.
On Sunday, July 23, 2017, I will be hosting an open house at #101, 2 Hemlock Crescent SW from 2.00pm – 4.00pm. Come and view this perfectly located condo with a great patio, only minutes to downtown and the Bow River trail system.
Quick Details:
– Listed at $259,900
– 632 Square Feet
– 1 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 – 116 Saddlebrook Common NE
Welcome to Saddle Ridge, a great place to call home! This well laid-out, freshly painted, two-storey duplex in Saddle Ridge offers plenty of living space in a bright, comfortable setting.
Quick Details:
– Listed at $334,000
– 1135 Square Feet
– 3 Bedrooms
– 1.5 Bathrooms
– Large Backyard
Upon entering your new home, you are welcomed into an inviting living room, complete with hardwood flooring. The open kitchen features plenty of cabinet and counter space with a black appliance package. Enjoy dinner in your dining room or head out to your massive west facing backyard and enjoy the sunshine on your quiet, private deck!
Retreat upstairs to your master bedroom featuring a large walk-in closet and cheater door to the main bathroom. Two bedrooms and a 4-piece bathroom finish off your top floor.
The basement is partially finished with a generous sized rec room and a large storage room with rough-in plumbing.
Just steps from your home, the kids can enjoy the playground directly across the street. Public transit is close by, giving you quick access to the nearby train station. Saddle Ridge Elementary school is only a five-minute walk from your front door.
Check out the full listing details for 116 Saddlebrook Common NE.
Call today to book a private viewing!
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403.703.1052
CREB® Statistics – Home prices remained stable in May
The Calgary Real Estate Board (CREB®) has released their statistic report for May. A couple of quick statistics to take away from the article:
- Unadjusted detached benchmark prices reached $509,000 in May, one per cent higher than last month and May 2016 levels.
- The number of new listings rose to 3,866 units in May, which is 17 per cent higher than last year’s total for the month.
- Apartment benchmark prices totaled $271,200 in May.
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.
Demand for detached housing continues to rise
The detached housing market continues to lead the way in Calgary’s slow but steady recovery from a two-year recession. It is the fourth consecutive month of price increases in this segment of the market.
For the first time since June 2015, prices for detached homes did not decline on a year-over-year basis. Unadjusted detached benchmark prices reached $509,000 in May – one per cent higher than last month and levels recorded last year.
Detached sales improved across all price ranges and represented 65 per cent of all Calgary sales in May, the highest level since 2012. The largest detached sales growth occurred in the $600,000 – $999,999 range.
“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.”
Like the detached market, the attached product has moved towards more balanced conditions. This has supported some recent directional shifts in pricing. However, monthly price declines had fallen by 4.7 per cent over peak levels and year-to-date benchmark prices remain two per cent below last year’s levels.
“We can really see a slow but sure recovery in the housing market,” said CREB® president David P. Brown. “Demand for detached product is driving a new sense of optimism for consumers as we move further into spring.”
The number of new listings rose to 3,866 units in May, which is 17 per cent higher than last year’s total for the month. Despite this rise, year-to-date new listings have declined by one per cent over last year.
WE CAN REALLY SEE A SLOW BUT SURE RECOVERY IN THE HOUSING MARKET. DEMAND FOR DETACHED PRODUCT IS DRIVING A NEW SENSE OF OPTIMISM FOR CONSUMERS AS WE MOVE FURTHER INTO SPRING.
“With the change in market dynamics, people no longer feel like they may need to settle for a second choice in a property,” said Brown. “There are lots of housing choices in every segment of the market and that made for a good situation in an already active spring market.”
Inventories are continuing to rise on the apartment condominium side. As of May, there was an inventory in Calgary of 1,780 in May. This is 11 per cent higher than last year’s levels and accounts for nearly 30 per cent of city-wide inventory. Apartment benchmark prices totaled $271,200 in May.
The housing market outside Calgary mirrors the continued recovery in the city.
Airdrie was active during the month of May, totalling 146 units sold. This brings total residential sales to 569 units since January, which is four per cent above sales levels for the same period in 2016.
With residential sales totalling 262 units at the end of May, Cochrane has seen an 11.5 per cent increase over the same period during 2016. So far this year, sales growth has outpaced the growth in new listings, contributing to the easing of inventories and months of supply compared to last year.
Rising sales combined with listings easing has placed downward pressure on inventories in Okotoks. Residential sales in Okotoks totaled 245 units from January to the end of May, six per cent higher than the same period 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®
Just Listed – 101, 2 Hemlock Crescent SW
Welcome to Copperwood III, a perfectly located condo in Spruce Cliff, only minutes to downtown, the Bow River trail system, Westbrook Mall, and the C-Train!
Quick Details:
– Listed at $259,900
– 632 Square Feet
– 1 Bedroom
– 1 Bathroom
– Underground Parking Stall
This main floor unit has ease of accessibility with private, front door access and a spacious patio with gas hookup for your BBQ.
Upon walking into your new home, you’re welcomed into a large, open concept living space complete with 9’ ceilings. The kitchen features dark maple cabinets, black appliance package, and a raised eating bar. An installed AC unit keeps you comfortably cool in the summer and a cozy gas fireplace keeping you toasty in the winter.
The large master bedroom is complete with a his/hers closet and a cheater door to the full bathroom. In-suite laundry, front entry storage, underground parking and a separate storage locker finish off this great condo!
Copperwood is a 424 unit development of mixed low and high rise buildings built in stages starting in 2007. Backing onto the Shaganappi Golf Course, featuring beautifully landscaped grounds, full fitness facility, party room, and ample visitor parking throughout the complex.
Check out the full listing details for 101, 2 Hemlock Crescent SW.
Call today to book a private viewing!
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403.703.1052
Redstone Open House!
On Saturday, May 13, 2017, I will be hosting an open house at 112 Redstone Ave NE from 2.00pm – 4.00pm. Come by to check out this bight, open and meticulously maintained 2-storey semi-detached home!
Quick Details:
– Listed at $395,500
– 1356 Square Feet
– 3 Bedrooms
– 2.5 Bathrooms
– Double Detached Garage
Check out the full listing details for 112 Redstone Ave NE.
Featuring 1350+ SqFt of contemporary and functional living space, 9′ ceilings and hardwood flooring throughout the main floor. The white, modern kitchen is the center of the home and is well appointed with quartz counters, stainless steel appliance package, breakfast bar, pendant lighting, and ample work/storage space. The adjacent dining room easily handles dinner parties and family gatherings while the living room offers gas fireplace with stone surround and great windows.
Upstairs the queen-size master suite is gorgeous with walk-in closet and a 4-piece ensuite. Two other well proportioned bedrooms, 4-piece main bath, and laundry round out the upper floor.
The basement is undeveloped and awaiting your design with egress windows and bathroom rough-in.
The backyard oasis offers low-maintenance landscaping, oversize 2-tier deck, split gas line, custom planter boxes, and hot tub (negotiable). A full size double garage provides backyard privacy.
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
CREB® Statistics – Housing Market Retains Momentum in April
The Calgary Real Estate Board (CREB®) has released their statistic report for April. A couple of quick statistics to take away from the article:
- City-wide benchmark prices reached $439,600 in April, similar to the previous month.
- Total transactions improved to 1,917 units in April.
- Inventories totaled 5,495 units, pushing months of supply below three for the second consecutive month.
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.
City-wide prices hold steady as labour market improves
Calgary’s housing market continued to show signs of stability in April. With 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.”
While adjustments are still occurring in the apartment condominium sector, the detached segment of the market is improving across all price segments.
“Detached product has not faced the same supply pressure as the apartment sector,” said CREB® chief economist Ann-Marie Lurie. “Detached supply from new construction didn’t surpass previous highs. That helped prevent steeper price adjustments in the detached sector when demand eased.”
The relationship between sales and inventory will be a key driver for pricing in the months ahead. Total transactions improved to 1,917 units in April, while inventories totaled 5,495 units, pushing months of supply below three for the second consecutive month.
With sales up and overall market inventory down, months of supply has already pulled back from elevated levels recorded over the past two years. While activity continues to vary by location and product type, more balanced conditions will help to support overall price stability.
“Improvements in the employment situation were necessary to prevent further declines in the housing sector,” said Lurie. “However, economic recovery is still expected to be slow, impacting the pace and quality of job growth. Based on current expectations this should translate into a more prolonged period of recovery in the housing 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®
Beddington Open House!
On both Saturday, April 22 and Sunday, April 23, 2017, I will be hosting an open house at #302, 8200 4th Street NE from 2.00pm – 4.00pm. Come by to check out this top floor, one bedroom + den, one bathroom unit!
Quick Details:
– Listed at $229,900
– 794 Square Feet
– 1 Bedroom + Den
– 1 Bathroom
– 2 Underground Parking Stalls
Check out the full listing details for 302, 8200 4th Street NE.
Upon entering your new home, you are welcomed into a warm and inviting space with a gas fireplace and west facing windows that flood the residence with natural light. An open concept kitchen features maple cabinets, black appliances, and a generous sized counter with an eating bar. The large master bedroom is complete with his and hers closets and a cheater door to the spacious bathroom.
A covered balcony provides plenty of space and a natural gas line for your BBQ. This unit is fully complete with two underground, heated parking stalls and a storage locker.
Beddington Towne Centre and Harvest Hills Crossing are only minutes away, with Safeway, T&T Market, Tim Hortons, & more! Enjoy a prime location with easy access to downtown and Deerfoot Trail.
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, 8200 4th Street NE
Welcome to Treo, the only modern apartment condo building in the centrally located community of Beddington Heights!
Quick Details:
– Listed at $229,900
– 794 Square Feet
– 1 Bedroom + Den
– 1 Bathroom
– 2 Underground Parking Stalls
This top floor, one bedroom + den, one bathroom unit has recently been painted and fitted with brand new carpet.
Upon entering your new home, you are welcomed into a warm and inviting space with a gas fireplace and west facing windows that flood the residence with natural light. An open concept kitchen features maple cabinets, black appliances, and a generous sized counter with an eating bar. The large master bedroom is complete with his and hers closets and a cheater door to the spacious bathroom.
A covered balcony provides plenty of space and a natural gas line for your BBQ. This unit is fully complete with two underground, heated parking stalls and a storage locker.
Beddington Towne Centre and Harvest Hills Crossing are only minutes away, with Safeway, T&T Market, Tim Hortons, & more! Enjoy a prime location with easy access to downtown and Deerfoot Trail.
Check out the full listing details for 302, 8200 4th Street NE.
Call today to book a private viewing!
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403.703.1052
