Facebook
X
Pinterest
Copy Link
CREB® Statistics – Housing Market Set for Favourable Lead Into Spring
The Calgary Real Estate Board (CREB®) has released their statistic report for March. A couple of quick statistics to take away from the article:
- Unadjusted detached benchmark prices totaled $503,900 in March, 0.4 per cent above last month and similar to levels recorded last year.
- Apartment and attached prices continue to remain well below levels recorded last year.
- City-wide inventory levels totaled 5,114 in March, 16 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.
Detached prices stabilize and city-wide inventory trends downward
Ask economists about the highs and lows of the housing market and they’ll say it won’t last –there’s a natural equilibrium that will eventually push things back into balanced territory.
It’s a theory that was certainly tested over recent years, but as time will attest, its best to trust economists in these matters.
As spring gets underway amid a strengthening regional economy, the housing market pendulum is slowly swinging back toward the middle.
Sales were still 10 per cent 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.
IT’S NOT SO MUCH THAT DEMAND WENT THROUGH THE ROOF IN MARCH, BUT THAT WE HAD LESS SUPPLY COME ONTO THE MARKET, WHICH IS REALLY HELPING TO BALANCE THINGS OUT.
“It’s not so much that demand went through the roof in March, but that we had less supply come onto the market, which is really helping to balance things out,” said CREB® president David P. Brown. “These changes are lifting the cloud of uncertainty for housing consumers and nicely positioning our market as we move into the more active spring season.”
Unadjusted detached benchmark prices totaled $503,900 in March. That’s 0.4 per cent above last month and similar to levels recorded last year.
One hiccup, however, is in the apartment and attached sector where prices continue to remain well below last year’s recorded levels.
“Market conditions are quite different in the apartment sector,” said CREB® chief economist Ann-Marie Lurie. “The additional supply coming from the new home sector is not easily reversed and the added competition is continuing to weigh on prices in the higher density sectors of the market.”
City-wide inventory levels totaled 5,114 in March, 16 per cent below last year’s levels. This is primarily driven by the 25 and 17 per cent contraction in the detached and attached markets.
Inventory levels in the ownership apartment sector remain three per cent higher then levels recorded last year.
“The housing market transition in the first quarter appears to be consistent with trends in the labour market,” said Lurie. “However, the way the rest of the year unfolds will be largely determined by what happens in the next two quarters, as nearly 60 per cent of all housing sales typically occur in that timeframe.”
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®
Tuscany Open House!
On Sunday, March 19, 2017, I will be hosting an open house at 718 Tuscany Drive NW from 2.00pm – 4.00pm. Come by to check out this spacious 4-level split in an ideal Tuscany location close to all schools.
Quick Details:
– Listed at $419,900
– 1047 Square Feet
– 2 Bedrooms
– 2 Bathrooms
– Double Attached Garage
Check out the full listing details for 718 Tuscany Drive NW.
This unique floor plan design has an open concept main floor that is bright and cozy with 9′ ceilings and over-sized windows. The kitchen offers a ton of work and storage space with a center island and large pantry along with black appliance package, breakfast bar, pendant lighting, and adjacent dining nook.
A nicely proportioned guest room and 4-piece guest bath round out the main floor.
Upstairs is the beautiful queen size master retreat fully equipped with a 4-piece ensuite, HUGE closet, and a fantastic view of the mountains.
While the lower level makes for an incredible rec/family room, ideal for media and/or games room. The basement is awaiting your finishing ideas with 2 large egress windows and a rough in for a bathroom.
The west facing backyard offers all day sun and is nicely finished with exposed aggregate patio and double detached garage.
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
Windsong Open House!
On Saturday, March 11, 2017, I will be hosting an open house at 3136 Windsong Boulevard SW from 2.00pm – 4.00pm. Come by to check out this perfect attached starter home with no condo fees in Airdrie.
Quick Details:
– Listed at $319,900
– 1218 Square Feet
– 3 Bedrooms
– 2.5 Bathrooms
– Double Attached Garage
Check out the full listing details for 3136 Windsong Boulevard SW.
Windsong by Mattamy Homes. This 2-storey row home offers 1218 square feet of open, functional living space. The main floor features hardwood flooring throughout, large windows, and a double attached garage. The kitchen is equipped with a black appliance package, breakfast bar, and tons of work/storage space which opens up onto a generous size dining nook. The open living room easily accommodates your full size furniture.
Upstairs you will find a beautiful queen sized master suite complete with walk in closet and 4-piece ensuite along with two other well proportioned bedrooms and main 4-piece bathroom. Rounding out the upper floor is a large bonus room opening onto a private, east facing sun deck with a gas line for your BBQ.
The basement adds nearly 500 square feet of unfinished and well thought out space primed for easy development with a large window.
Windsong is a master planned community built by North America’s largest privately owned home builder; Mattamy Homes. Offering residents an array of housing options from row and starter all the way to estate-level homes along with green space/playgrounds, easy access to amenities, and major arteries.
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 – A Transition in the Making
The Calgary Real Estate Board (CREB®) has released their statistic report for February. A couple of quick statistics to take away from the article:
- February sales totaled 1,342 units, which is still 19 per cent below long-term averages, but an improvement over the past two years.
- Detached benchmark prices totaled $501,900 in February, which is one per cent lower than prices recorded last year, but slightly higher than January figures.
- The sales-to-new-listings ratio trended from a near record February low of 39 per cent last year to 55 per cent this February.
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.
Detached sales activity boosts February housing market
After the first two months of the year, Calgary’s detached sector continues to drive a slow transition in the housing market. February sales totaled 1,342 units, which is still 19 per cent below long-term averages, but an improvement over the past two years.
As sales kept trending upward, detached inventory levels continued to ease in February. These conditions caused months of supply to fall to 2.4 months, putting less downward pressure on pricing. Unadjusted detached benchmark prices totaled $501,900 in February, which is one per cent lower than prices recorded last year, but slightly higher than January figures.
“There seems to be a new sense of optimism these days,” said CREB® president David P. Brown. “Some sellers are feeling upbeat about the changing landscape and the improved chances of selling their home. Other people are looking at the spring market with caution and wondering if we’re going to see a higher than expected surge of listings. While there’s less product on the market right now, sellers still need to be realistic with their pricing.”
The amount of excess inventory eased in the overall market in February, setting the stage for a transition to a more stable market this year. Months of supply totaled 3.4 months, down from five months over last February. At the same time, the sales-to-new-listings ratio trended from a near record February low of 39 per cent last year to 55 per cent this February.
With sales improving and new listings and inventories contracting—two key measures of market balance, there’s good evidence to show that the housing market has started a trend toward more balanced conditions.
“The transition in the housing market appears to be underway,” said CREB® chief economist Ann-Marie Lure. “However, it is important to note that this change is primarily being driven by improvements in the detached market and stability in the labour market.”
“It will take some time for these conditions to translate into all housing segments and achieve price recovery,” said Lurie. “But all indicators continue to point toward a slow transition from a contracting market toward one that is stabilizing at lower levels.”
Click here to view the full City of Calgary monthly stats package.
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403-703-1052
Victoria Park Open House!
On Saturday, February 11, 2017, I will be hosting an open house at 1106, 135 13th Avenue SW from 2.00pm – 4.00pm. Come by to check out this sleek and modern condo at Colours in Victoria Park.
Quick Details:
– Listed at $359,900
– 676 Square Feet
– 2 Bedrooms
– 1 Bathroom
– 1 Underground Parking Stall
Check out the full listing details for 1106, 135 13th Avenue SW.
This 2 bed/1 bath condo offers 676 SqFt of open, loft-inspired living space, 9’6 ceilings, polished concrete floors, air conditioning, floor to ceilings windows and gorgeous westerly and downtown skyline views. The kitchen is equipped with granite counters, stainless appliance package and ample work/storage space while the open concept living room accommodates full-sized furniture and opens up onto your private balcony with gas line.
The queen size master bedroom is nicely finished with large closet and sliding door system which when closed revel hidden work station. Underground, titled parking included.
Built in 2008 by Battistella Colours is situated in the heart of Victoria Park. 220 beautiful, modern condos featuring polished concrete floors, 9’6 ceilings, and gorgeous views. Surrounded by boutique shopping and dining and only minutes from downtown.
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 – 1106, 135 13th Avenue SW
Just listed 1106, 135 13th Avenue SW, a sleek and modern condo at Colours in Victoria Park.
Quick Details:
– Listed at $359,900
– 676 Square Feet
– 2 Bedrooms
– 1 Bathroom
– 1 Underground Parking Stall
This 2 bed/1 bath condo offers 676 SqFt of open, loft-inspired living space, 9’6 ceilings, polished concrete floors, AC, floor to ceilings windows and gorgeous Westerly and DT skyline views. The kitchen is equipped with granite counters, stainless appliance package and ample work/storage space while the open concept living room accommodates full-sized furniture and opens up onto your private balcony with gas line.
The queen size master bedroom is nicely finished with large closet and sliding door system which when closed revel hidden work station. Underground, titled parking included.
Built in 2008 by Battistella Colours is situated in the heart of Victoria Park. 220 beautiful, modern condos featuring polished concrete floors, 9’6 ceilings, and gorgeous views. Surrounded by boutique shopping and dining and only minutes from downtown.
Check out the full listing details for 1106, 135 13th Avenue SW.
Call today to book a private viewing!
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403.703.1052
Listed by The Bannard Rushton Group
Century 21 Bamber
1612 17th Avenue SW
Calgary, AB T2T 0E3
CREB® Statistics – January market improves over last year
The Calgary Real Estate Board (CREB®) has released their statistic report for January. A couple of quick statistics to take away from the article:
- January sales totaled 947 units, 24 per cent above last year, but 21 per cent below 10-year averages for the month.
- City-wide benchmark prices totaled $437,400, 0.16 per cent lower than last month and 2.82 per cent lower than last year’s levels.
- Since recent highs in 2014, residential prices have declined from a low of 4.9 per cent in the detached sector to highs of 11.5 per cent in the apartment condominium market.
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.
Better Than The Last
For the fourth consecutive month, housing inventory levels have recorded year-over-year declines. At 4,112 total units, January’s inventory was 18 per cent below last year’s levels.
“While housing conditions continue to favour buyers, a slow transition toward more balanced conditions is helping to ease downward pressure on home prices,” said CREB® chief economist Ann-Marie Lurie. “Conditions have improved over last year, but people need to remember that last year’s market was one of the weakest on record. Despite the appearance of a major shift in activity, the transition in the housing market is going to be a slow process.”
January sales totaled 947 units, 24 per cent above last year, but 21 per cent below 10-year averages for the month. Sales activity improved across all product types, but only when compared to the near record lows that occurred in January 2016.
The detached segment of the market is demonstrating the most improvement. Sales activity totalled 584 units in January, a considerable improvement over the 466 sales recorded last year. Inventories have also declined pushing the months of supply to 3.2 months well below the 5.4 months recorded in January 2016.
“This past month showed how the market never stands still,” said CREB® president David P. Brown. “The market isn’t expected to be as unpredictable in 2017, but it’s early in the year and there are still lots of unknowns that will shape decision-making for consumers.”
“Every transaction is a personal decision and anyone going through the process of buying and selling real estate will be trying to make the best decision for their family. They need to consider their long-term objectives and think about the price they are willing to accept or pay for a home.”
City-wide benchmark prices totaled $437,400, 0.16 per cent lower than last month and 2.82 per cent lower than last year’s levels. Since recent highs in 2014, residential prices have declined from a low of 4.9 per cent in the detached sector to highs of 11.5 per cent in the apartment condominium 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
CREB® Statistics – November Sales Slide into Old Patterns
The Calgary Real Estate Board (CREB®) has released their statistic report for November. A couple of quick statistics to take away from the article:
- City-wide sales totaled 1,227 units, which is nearly three per cent lower than last year and 17 per cent below long-term averages
- Detached home prices totaled $498,300 in November, making it the first time since early 2014 that the monthly benchmark price dipped below $500,000
- Year-to-date average benchmark prices have declined by 2.6 and 4.8 per cent for both semi-detached and row product.
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; sarah.paranych@century21.ca or 403.703.1052.
Detached prices dip below $500,000 for first time since 2014
Coming off a month of stronger sales activity, November’s resale residential housing market returned to previous trends, according to CREB®.
In its November housing summary released Dec. 1, year-over-year monthly sales totaled 1,227 units, which is nearly three per cent lower than last year and 17 per cent below long-term averages.
“November was the first full month with CMHC’s new lending rules in effect,” said CREB® chief economist Ann-Marie Lurie. “As suspected, the gains in last month’s sales were temporary. Stringent conditions for borrowers are converging with the current economic climate and weighing on demand.”
While supply levels eased in November, the decline in sales resulted in a slight rise in months of supply. This caused benchmark home prices to contract even further, said CREB®.
City-wide prices totaled $436,200 in November, a 0.6 per cent decline over the previous month and nearly 4.1 per cent below last year’s levels.
Detached home prices totaled $498,300 in November, making it the first time since early 2014 that the monthly benchmark price dipped below $500,000.
“THESE MONTHLY FIGURES AREN’T A BIG SURPRISE GIVEN THE DYNAMICS OF OUR MARKET RIGHT NOW.”
Despite this price change, CREB® noted the detached resale sector has still fared better than most of the high density sectors, as it has not faced the same city-wide inventory pressure coming from the new home market.
Year-to-date detached sales have declined by three per cent compared to last year, but have also seen some modest improvements in recent months in the high end of the market, which is likely a byproduct of larger price adjustments.
“These monthly figures aren’t a big surprise given the dynamics of our market right now,” said CREB® president Cliff Stevenson. “We’ve seen pockets of sales activity in certain areas, but also lots of months where the expectations between buyers and sellers just aren’t matching up. November was one of those months.”
“Again, it can’t be overstated how important it is for housing consumers to keep asking questions and drilling down on what’s happening in their specific area,” adds Stevenson. “This kind of exploration and learning is how good real estate decisions get made in any market.”
HOUSING MARKET FACTS
- As of November, city-wide apartment condominium prices totaled 271,300, which is a 0.9 per cent decline over the previous month and 6.8 per cent below levels recorded last year. Current monthly prices have decreased by 10.6 per cent compared to monthly highs recorded in 2014.
- Year-to-date apartment sales in the city of Calgary have declined by 16 per cent for a total of 2,582 units. Meanwhile, overall inventories remained elevated and pushed up months of supply to seven months.
- Across Calgary’s eight districts, year-to-date apartment price declines have ranged from a low of 3.9 per cent in the North East, to a high of 7.4 per cent in the west end of the city. Over 47 per cent of condominium apartment sales have occurred in the City Centre, which has seen price declines of nearly six per cent.
- Most districts throughout the city have recorded a decline in sales and inventory gains. The oversupply has resulted in aggregate price declines for each property type in each district of the city. However, the magnitude of the decline varies significantly depending on location and property type.
- Detached sales activity continues to improve in both the City Centre, North West and West districts of the city, but overall levels are still well below the norm.
- While overall sales activity continues to slow in the attached segment, there was a sharp contrast in the number of transactions for row and semi-detached product. Year-to-date semi-detached sales have improved over by nearly 3 per cent over the previous year, mostly due to gains in the $300,000 to $399,999 and $600,000 to 699,999 range of the market. However, row sales have declined by over 12 per cent over the same time frame.
- Year-to-date average benchmark prices have declined by 2.6 and 4.8 per cent for both semi-detached and row product.
Sarah Paranych
sellingcalgaryproperties.com
sarah.paranych@century21.ca
403-703-1052
Aspen Woods and Garrison Woods Open House!
This weekend I’m hosting two open houses!
On Saturday, November 26, 2016, I will be hosting an open house at 162 Aspen Hills Close SW from 2.00pm – 4.00pm. Come by to check out this beautiful family home in Aspen Woods situated on a private lot with no neighbours directly behind (backing onto Calgary Academy).
Quick Details:
– Listed at $679,900
– 2,127 Square Feet
– 3 Bedrooms
– 2.5 Bathrooms
– Double Attached Garage
Check out the full listing details here.
On Sunday, November 27, 2016, I will be hosting an open house at #313, 3651 Marda Link SW from 2.00pm – 4.00pm. Come and view this luxurious penthouse loft, which has been completely renovated with an incredible attention to detail and is unlike anything on the market today.
Quick Details:
– Listed at $449,900
– 919 Square Feet
– 1 Bedrooms
– 1.5 Bathrooms
– 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
bannardrushton.com
sarah@bannardrushton.com
403.703.1052
CREB® Statistics – Home Sales Rebound in October
The Calgary Real Estate Board (CREB®) has released their statistic report for October. A couple of quick statistics to take away from the article:
- City-wide sales totaled 1,644 units, which is an increase of nearly 16 per cent over last year
- Benchmark price in Calgary $438,900, or 0.34 per cent below last month and four per cent below last year’s levels
- Year-to-date sales activity has totaled 15,642 units, 6.3 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.
CREB® points to mortgage rule changes as motivator
For the first time in two years, resale residential housing sales activity in October resembled normal levels, according to a new report.
City-wide sales totaled 1,644 units, which is an increase of nearly 16 per cent over last year, reported CREB® in its monthly housing summary.
“The shift in sales activity this month is likely related to the new mortgage rule changes, inventory gains in the lower price ranges and further price adjustments,” said CREB® chief economist Ann-Marie Lurie.
“The combination of all these factors may have encouraged some purchases to take advantage of the market conditions, particularly in the lower price ranges. However, with several factors at play, the monthly shift in demand may be temporary and will need to be monitored over the next several months.”
Sales activity rose across all product types in comparison to last year, but the largest gain in sales occurred in the detached sector at 18 per cent, said CREB®.
The organization also noted there was a noticeable shift in sales activity by price range in October. In the detached market, homes priced between $300,000 and $400,000 saw the largest improvement in sales, while attached and apartment sales growth was mainly occurring in the lower price ranges.
“SALES ACTIVITY CHANGED DIRECTION IN OCTOBER, BUT WE NEED TO SEE SOME CONSISTENCY NEXT MONTH AND THE MONTH AFTER TO CALL IT A TREND.”
“This year has been a challenge for many sellers,” said CREB® president Cliff Stevenson. “So when we have a rise in sales, it means more buyers got into the market and more sellers got out, which is a positive for consumers on both sides of the transaction.”
“Sales activity changed direction in October, but we need to see some consistency next month and the month after to call it a trend,” adds Stevenson. “For now it’s a nice building block.”
Despite the monthly rise, year-to-date sales activity in all sectors remained lower than last year’s levels and well below longer term trends. In fact, year-to-date sales activity has totaled 15,642 units, which is 6.3 per cent below last year’s levels, noted CREB®.
While increased activity in the lower price ranges had a greater impact on the average and median price, benchmark prices once again edged down in October. The city-wide unadjusted benchmark price totaled $438,900, or 0.34 per cent below last month and four per cent below last year’s levels.
Since the start of the downturn, home prices have declined from a low of 3.8 per cent in the detached market to a high of 9.4 per cent in the apartment condominium sector. And, despite the rise in October sales, monthly prices continued to decline for most product types in the market.
Sarah Paranych
sarah.livelovecalgary.com
sparanych@outlook.com
403-703-1052
