Smart Calgary Homes Blog

Calgary Home Sales continue to drop this year. As the warmer weather comes, more houses are listed on the market. Compared to last month, there are 83.8% more listings for sale, and the odds of selling decreased by almost 25%. Like last month, the average home stays on the market for 50 days, and it continues to be a Buyer's Market.

If you are considering selling your home, now is the time to start having that conversation with your Realtor to discuss strategy. With more homes on the market each month, inventory levels are rising. Combine that with a pullback in demand, meaning less buyers and fewer sales, it is getting harder to sell your home. The best thing you can do is contact us so we can evaluate the best options for you.

MARKET STATUS

Market Status - 13 month history   

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EVENTS HAPPENING IN CALGARY THIS FEBRUARY:

1) YYC Hot Chocolate Fest - Entire month of February: Click for more details.

HotChocolateFest

2) Family Day at the Fort Calgary Winter Carnival - Mon. Feb. 15, 2016: Click for more details.

3) The Wizard of Oz - Southern Alberta Jubilee Auditorium - Tues. Feb. 16 - Sun. Feb. 21: Click for more details.

4) The Little Prince - The Musical - At Theatre Calgary until Feb.28 : Click for more details.

The Little Prince

5) Body Worlds Vital - Telus Spark - Open until May 31Click for more details.

6) Calgary Home and Garden Show - Thurs. Feb. 25 - Sun. Feb. 28: Click for more details.

Home Show

7) Calgary Midwinter Blues Fest - Mon. Feb. 22 - Sun. Feb. 28: Click for more details.

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 HERE IS A LIST OF JUST SOME OF THE EVENTS HAPPENING IN CALGARY THIS JANUARY:

Calendar

1) '80s Solid Gold 2: A Musical Revue - Stage West Dinner Theatre - Now playing until Feb.7: Click for more details.

2) Calgary Homexpo - Stampede Park - Jan. 15-17Click for more details.

Home Show

3) Body Worlds Vital - Telus Spark - Open Jan.16 to May 31: Click for more details.

4) The Wedding Fair Calgary - BMO Centre - Sunday January 17: Click for more details

Wedding Fair.

5) The Little Prince - The Musical - At Theatre Calgary from Jan.19 to Feb.28 : Click for more details.

The Little Prince

6) The Brakemen Foundation 2nd Annual Celebrity Chef Showdown - Thurs. Jan. 28Click for more details.

7) Bridal Fantasy Calgary: The Boutique Bridal Show - Telus Convention Centre -

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Today Calgary's MLS is receiving some much needed updates.  Gone are the days of Calgary's four quadrants; NW, NE, SW, & SE as we now enter an era of eight zones.

Below is a list of the new zones;

  • North
  • Northeast
  • Northwest
  • East
  • City Central
  • West
  • South
  • Southeast

Along with the new zoning taking effect are some community name changes. This will include a merging of estates into their parent communities as well as some other notable name changes.  A few communities of note are;

  • Connaught / Victoria Park -> Beltline
  • Hanson Ranch -> Hidden Valley
  • Fonda -> Forest Heights
  • Lynwood / Riverglen -> Ogden
  • Mount Royal -> Upper Mount Royal
  • Richmond Hill / Signature Park -> Signal Hill
  • The Slopes -> Springbank
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Looking for plans to ring in the new year?

Here is a list of 10 Calgary events from family friendly to singles parties:

NYE

  1. Ice Skating at Olympic Plaza - party starts at 8pm, free skate rentals available:  Click here.
  2. Family Dance Party from 7-9pm at the Municipal Building (City Hall): Click here.
  3. Boardwalk Empire NYE Gala: Click here.
  4. Standard Speakeasy Enchanted NYE: Click here.
  5. NYE: Resolution at Flames Central - featuring some of Calgary's top hip-hop DJs: Click here.
  6. FunnyFest NYE at the International Hotel - laugh your way into the new year with this star-studded comedy show: Click here.
  7. Hyatt NYE Gala - cocktails, dinner and dancing in the Hyatt Regency Ballroom: Click here.
  8. New Year's Eve 5 course dinner at the
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As 2015 comes to an end we give a quick market review. Alberta and Calgary have faced many challenges this year with the changing and challenging economy. We have witnessed a sharp cooldown in some of Calgary's once hot markets and a rise in sales in Calgary's more affordable districts. Check out our infographic market reports below to see how these changes are reflected in our local real estate market.

MARKET STATUS

For the third consecutive month, higher inventory levels and softer sales have kept inventory near 4 months, pushing it slightly above this month. This means the Calgary residential market has been favoring buyers. 

Market Status

Market Status - 13 month history

AVERAGE PRICES

The average price of homes was steadily increasing over the last 16 years (with the

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Big changes coming in the form of a bigger down payment.

If you are planning to buy a home priced between $500K-$999K, you may want to think about purchasing before February 15th 2016.

Bigger Down Payment Required

When buying a home, if you are putting less than 20% down, you require mortgage insurance. Currently the minimum down payment for a home is 5% in order to quality for CMHC (Canada Mortgage and Housing Corporation) Insurance. Starting in February, you will need to put more money down in order to qualify for this insurance. CMHC will require 5% down on the first $500,000, and then an additional 10% down on the remaining balance over $500K.

As an example, if you bought a $750K home right now, you would be required to put down a minimum of 5%, which equals a down

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I had a lot of fun the last few weekends visiting different markets in Calgary. At the Art Market & Craft Show I picked up some bath bombs, clothing, and butter chicken sauce. At the Spruce Meadows Christmas Market I loaded up on food from Thai ingredients to cheese and cranberry apple cider. This inspired me to post info about upcoming artisan markets in Calgary so everyone can have the opportunity to explore unique items this season.

Artisan Market Purchase

  • 4th Annual Marda Loop Christmas Market – Saturday December 12th
    • Held in support of the Calgary Interfaith Foodbank
    • Facebook Event Page
  • Etsy’s Winter of Artsy: An Oz Themed Holiday Market – Sunday December 13th
    • Unique handcrafted gifts and Craft Stations, Happening in Okotoks
    • Facebook
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Home for Sale

Planning to buy a home? Why wait until the New Year. Here are just a couple of the reasons why buying a home during the holidays can be an advantage.

1. Less competition. Fewer transactions occur over the holiday season and that means when you find your perfect home, you are less likely to get into a bidding war, and can usually score a better deal.

2. People are in the holiday spirit. People are more inclined to help others out during the holiday season and that could work in your favour when it comes to negotiating the deal.

3. Tax breaks. At the end of the year, everyone is looking for ways to lower their taxes. Buying a new home is one way to get some breaks before tax season.

4. Motivated sellers. Whether its relocating for a new job

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Inventory Levels


*The above image shows how inventory levels are typically much lower in December (Seller's Market)

vs. inventory levels in January (Buyer's Market)*

Thinking of listing your home for sale? Here are 10 reasons why listing during the holidays is better than waiting until January.

1. While there may be fewer buyers out there, people that are looking for a home during the holidays are serious buyers and are ready to buy.

2. There are fewer homes for buyers to look at during the holidays, which means there is less competition for you as a seller. Less competition = more money.

3. After the holidays, the supply of listings increases substantially, which lowers the demand for your home. More competition = less money.

4. Your home shows

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