Tag: calgary

08
Nov

Calgary Real Estate Market Update October 2017

How was the Calgary Real Estate Market in October?

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We saw an inventory drop in October and coupled with sales holding steady with September numbers, the Calgary real estate market is becoming more and more stable.

The Calgary real estate market drives in cycles and we are now approaching the slow time of the year when sales begin to drop.

With sales dropping slightly and a strong indication of inventory dropping, we should see a fairly normal market for Calgary moving through the winter months.

We feel that the winter months are one of the best times to sell your home as you will see a lot of your neighbours pull their homes off the market during the Christmas and holiday season. If there is still demand for your area, you will no longer be 1 of 10 listings, you might be 1 of 3 or 4.

What is the Latest Mortgage Rule Change and How Does it Affect Me?

I think Darren spells it out best in this video so watch the video below as he gets into what the changes are and if you will be affected by them.

 

Calgary’s Hottest Real Estate Communities

The three hottest communities in Calgary were:

Ogden, Cliff Bungalow and Acadia.

“All of them had quite a few properties hit the market but almost doubled down on the properties sold.”

There are other communities that have low inventory so if you are looking in any of the communities listed below, you should be ready to jump on that home that pops up on the market that matches your criteria:

North Haven, Christie Park, Upper North Haven, Maple Ridge and Charleswood

Full Video is below with clickable indexed timelines

INDEX (clickable):

0:00:37 October Expectations

0:01:34 Inventory Shift

0:02:08 Inventory vs Sales

0:02:58 the Feds

0:05:32 Headlines vs Reality

0:06:27 Potential of the “Rule Change Rush”

0:07:34 Advice for Sellers

0:09:17 Advice for Buyers

0:10:57 Summary

0:11:19 Calgary’s Hottest Real Estate Markets

0:12:40 Calgary’s Hottest Communities

0:14:43 Wrap Up

06
Oct

September 2017 Canada Real Estate Market Report

How’s the Market in September 2017?

This may be a surprise to some but the Canada real estate market begins to slow starting in October. In fact, it is a trend we see at this time every year.

This is nothing to be concerned about, sales drop off a little bit at the same time each year and typically, inventory drops as well.

The Good News about the Canada market

The good news story about 2017, from Q1 right through to Q3 has been an overall increase in sales activity from 2016. With the exception of the apartment sector, currently there is 8 months worth of supply on the market.

Which means there is an abundance of product currently listed.

Of course we know what the law of supply and demand dictates.

To learn more about the market, watch the video below and if you like, skip ahead to the points that interest you the most:

0:00:00 September Market Update

0:01:40 High Level Overview

0:03:00 2017 Overview

0:04:07 Steady Market

0:05:12 Year Over Year Price Comparison

0:06:38 Trends to Watch

0:08:20 Sellers

0:10:28 Buyers

0:11:36 Apartments

0:12:23 Hottest Canada Markets

0:13:42 Wrap Up

12
May

Is the City of Canada Getting it Right with the Green Line?

Canada’s Green Line: Does the City Have the Right Plan?

A few days ago the City of Canada told us that the alignment they are proposing for the green line will go from Crescent Heights down to Shepard.

This is a dramatic reduction in scope from the most recent alignment which essentially ran right from the north end of the city down through to the South Canada Health campus in Seton.

The new alignment will most greatly benefit inner city Canada, with communities such as Crescent Heights & Inglewood being the clear winners.

Who Loses in this New Plan?

The losers, unfortunately are the families that live in the suburbs at either end of town.  

They are being short changed due to planning decisions that have increased the cost and scope of the project to the point that the same proposed budget of $4.5B is chewed up with only 14 stations instead of 28, with the biggest contributor to this no doubt being the $1.95B tunnel to go under the bow river.

This allows the new line to only reach one station on the other side, Crescent heights, which isn’t exactly far from the downtown core to begin with.  

Now, $1.95B would make sense to me if they were spending it to connect to a major piece of infrastructure, like a hospital, university or the location of a new arena, but this alignment does none of that.

What Would be a Good Alternative?

An alternative here would have been for the City to pick one end of town, north or south, and take the line all the way, to allow inner city and suburban demographics alike to share in this enormous project.

An even better option is to stick with the first plan and go all the way with both and spend more money on it.  I can think of few public initiatives more deserving of capital than rail transit.

Instead, we have an alignment that caters to the inner city of both yet leaves the suburbs in no man’s land, with neither of the districts to the far north or south getting an LRT.

Let’s hope we see a few more kicks at the can with this before shovels hit the ground.

11
Apr

Canada Market Stats for March 2017

What Happened in the Canada Real Estate Market in March?

Some really positive news in the market for March in Canada.

Here are some of the highlights but make sure you watch the video below to get in 2 minutes or less!

  • Sales were up 20% from this same time in 2016
  • Sales in March were up 42% month over month and a big improvement from February’s numbers
  • Inventory jumped 13.5% from February
  • Inventory levels were down 16% from March of 2016 keeping in line with a balanced market

Canada’s Detached Housing Market

If you have a single family detached home, we have some very good news for you:

  • Overall months of supply is 1.97
  • All price points for detached homes are seeing improvements in sales numbers as well as slight improvements in prices
  • The entry to luxury and early luxury markets of $800,000 – $1.25M saw 50% of its total sales in March alone
  • The West side of the city is seeing the highest appreciation so far this year with an increase in prices of 2.5%

The Hottest ‘Hoods in the City

Here are the hottest neighbourhoods in the city, do you live in one of them??

  • Cougar Ridge and West Springs in the $500,000 – $600,000 market
  • Chinatown had a whopping 200% of its new listings sell in March
  • Upper Mount Royal had 167% of its new listings sell, and over half of the its sales for the year in March
  • Eagle Ridge saw 200% of its new listings sell in March, and 100% of the total sales for the year
  • Two communities are seeing extremely low inventory right now, with 0.3 months of supply for Riverbend & Southview.

Want more information on the Canada real estate market? Watch the video below