Smart Calgary Homes Blog

Calgary Home Sales are beginning to rebound according to the Calgary Real Estate Board. Some statistics to keep an eye on are the number of houses listed on the market. This number jumped significantly from 993 homes in December to 2,385 homes in January. That's a 140% increase. If you're looking to buy, this is great news as there is more selection for you to choose from. If you're thinking of selling, this means competition is increasing, and you may want to put your home on the market sooner rather than later. The odds of selling decreased by almost 7% from last month, but the average home is actually selling 3 days faster, moving from 56 days on market to 53.

It continues to be a buyer's market with prices dropping last month in all 3 segments

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There's no doubt 2016 was an interesting year for Calgary Real Estate. We saw changes in mortgage and financing rules, fluctuating house prices, and a changing economy. However, after three years of successive sale declines in 2014, 2015 and 2016, the Calgary Real Estate Board is finally forecasting that home sales should rebound slightly in 2017.

With a lot of content to cover, we will jump right in to December statistics. After that will be last year's fourth quarter stats from the Calgary Real Estate Trends Report. And finally, a snapshot of the local real estate market for Dec 2015 through to Dec 2016.

Calgary remains slightly in a Buyer's market with 4.04 months of inventory. Compared to last month, homes are selling for 1.85% more and prices

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As new mortgage rules came into effect back in October, we saw an increase in sales and a busy month for Real Estate. November on the other hand, saw sales volume return back to what is considered normal levels for 2016. November Sales Volume was 1227 units, a 3% decrease year over year, and a 17% decrease over long-term averages. Prices decreased 0.6% from October, a 4.1% year-over-year decline.

The market in 2016 has been very segmented and November was a continuation of that. Different districts, price points and categories of product have reacted differently from one another, but overall, there has been a disconnect between buyers and sellers expectations. For example, sales volume in the detached market declined 3% year to date, and the apartment

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October was a busy month for Real Estate. The biggest change came when the government announced new mortgage rules. If you're not already familiar with these new rules, you can read our Blog entitled New Mortgage Guidelines. With these new changes came significant improvement in sales volume in Calgary. This means more buyers were able to get into the market this month, and more sellers were able to move on. Although the city faces some downward pressure in pricing, the average price of a home was actually 1% higher than this time last year, and October sales are going strong with 16% more sales than October 2015.

Buyers: It is a balanced market but prices have dropped in all sectors compared to last month. Apartments, attached and detached homes are

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A new season is here and with it, more changes in the housing market. This month, Calgary had its first year over year increase in sales volume (2%). We are also beginning to see stability in the detached market. The average price of a home rose 3.68%, from $474,035 to $491,462. Compared to last month, homes are selling 1 day (2.17%) faster at an average of 46 days on the market. When looking at the percentage of homes sold, compared to the number of listings on the market, odds of selling decreased by 8.77%. This is because there are 7.68% more new listings on the market and fewer sales (89 less homes sold) than last month. View all of this month's statistics below. 

*Since it's the end of the third quarter for 2016, this month I am also including

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At Smart Calgary Homes, we work closely with Mortgage Agents Andy and Julie Jeffery of Elevation Mortgage. They put together some great points regarding the new mortgage guidelines recently put in place by the Federal Government. Here is a summary:
  • Borrowers with less than 20% down payment must obtain both a lender mortgage approval and an insurer mortgage approval. Genworth, Canada Guaranty, and CMHC are the three main Canadian mortgage insurers. These are known as "high ratio" mortgages.
  • A mathematical equation called Total Debt Servicing (TDS) is the system that is used to qualify Canadians for mortgages. TDS takes into account total income annually vs the annual cost of the mortgage payment, property taxes, heating, and any other consumer
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The month of August brought some changes for Calgary Real Estate. While it still remains a balanced market, it is very close to being a buyer's market.

Compared to last month, the average price of a detached, single family home is selling for more. However, apartments (including condos) and attached homes (including townhouses) are all selling for less this month.

Inventory is up and there are more new listings for sale. This means odds of selling are down, compared to last month. However, days on market stayed the same at an average of 46 days to sell your home.

View all of this month's statistics below. Have question? Contact us!

Its easy to get into a new home. Whether you're ready to buy and just looking for the perfect home, or you want

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July was another good month for Calgary Real Estate. It remains a balanced market so there are both pros and cons for Buyers & Sellers.

For sellers, while odds of selling decreased by about 9% this month, more homes are actually selling at or above selling price, and selling 2.2% faster. There are 13.5% fewer listings on the market than last month, so now could be a great time to list your home for sale.

For buyers, where prices increased in the apartment and attached homes categories, prices did drop in the detached homes category with the City of Calgary average sold price dropping as well. No matter your budget, give us a call and we can help to find the perfect home for you. 

View all of this month's statistics below. Have question? Contact

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Calgary's Real Estate Market Report - July Edition

Overall, June was a good month for Calgary Real Estate. It remains a balanced market and both Buyers & Sellers should be happy. Sellers are starting to adjust to the new norm in today's market. Price reductions are allowing buyers to get into homes that were previously unattainable. Prices are declining, which is great for buyers. There are also less homes on the market, and those homes are selling faster, which is great for sellers. We are seeing sales growth in the detached market. Also, we are continuing to see year over year price declines.

View all of this month's statistics below. Have question? Contact us!

Its easy to get into a new home. Whether you're ready to buy and just looking for

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Calgary's Real Estate Market Report - June Edition

For Sellers: It's a good time to be a seller. All the number look good this month with homes selling faster, and for more money. Odds of selling increased by more than 10% this month, and the average sold price increased by 3.7%, so there is no better time than now to put your house on the market.

For Buyers: With 3,319 new listings coming on the market this month, there is plenty of choice for buyers. But homes are selling faster, and for more money, so don't delay.

View all of this month's statistics below. Have questions? Contact us!

Its easy to get into a new home. Whether you're ready to buy and just looking for the perfect home, or you want to see all inventory out there, don't forget

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