Market Updates | Page #12

Market Updates

CREB® has released the November housing summary recap. Here are some of the highlights that you should be aware of:

November was not a tumultuous one for the real estate market. Despite the downward trend in activity, conditions are remaining stable enough to not cause too much worry. One good thing about less activity is that the housing market is officially a buyers market right in time for you to close a deal before the new year.

What is the headline CREB® gave the November housing statistics? “Weak sales activity relative to inventory places downward pressure on prices.”

High inventory levels in the Calgary resale sector persisted through November. These inventory levels were paired with weak sales levels, leading to a buyers market. Monthly…

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Hello, Winter!

Calgary has received its first official dump of snow. As of today, Starbucks has rolled out their holiday drinks and Christmas lights are starting to join the city skyline. It is time to say farewell to crunchy leaves and pumpkins, which we hope you did by taking them to the city wide recycling centres. For more information on that, check out the following link: City of Calgary Leaf and Pumpkin Recycling.

As our final goodbye to crisp autumn days, we have the CREB (Calgary Real Estate Board) October statistics summery. Want to learn more about real estate market conditions so you can be an informed buyer/seller/investor? Read on.

Elevated inventory levels continue to dominate the market in the resale sector which is significantly…

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Fall has arrived! September, a month of transitions and new focus, has become a beautiful October. Let’s all just take a moment to appreciate the fact that September passed without gracing our lawns with snow. Thank you, September. You were good to us.

September was a good month for real estate. Not necessarily a great month, but nothing the market can’t handle.

After four months of relatively stable, unadjusted benchmark prices, September saw a 0.26 percent decline in benchmark prices, settling at $456,100, on average, per unit. This price decline was most strongly seen in the apartment sector where inventory levels rose higher than they typically are.

Residential sales were much lower than the five and ten year averages. Why was this? CREB®…

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The resale market in Calgary’s residential sector saw a drop in units sold which has eased absorption rate. City wide sales declined by 27 percent with 1, 643 units sold in August. This is 12 percent lower than the ten year averages we have previously been on par with.

Why is this happening? “Persistent weakness in the energy sector weighed on sales activity this month, which once again retracted to levels well below the norm for the city,” said CREB® chief economist Ann-Marie Lurie. We may be back on our way to stability after the market crash, but it will still take a long time to fully recover. Luckily for us, Calgary is the ultimate comeback kid.

Weaker sales activity has resulted in properties being on the market for a longer time, the average…

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The summer is typically a popular time for those hoping to buy and/or sell a property. With school in hiatus for the summer, backyards emerging from their snowy slumber, and vacation days stored up, many people take advantage of the time and begin their real estate journey. This is the summer trend.

If there was one word to describe the real estate market this July, it would be “consistent.” Nothing out of the norm happened. It stayed consistent with typical summer trends. While this may seem dull, it is a sigh of relief for Calgarians who have still been nervous about the market after the oil crash back at the start of the year.

Sales activity for the month of July was consistent of the 10 year average. The declines we previously saw in…

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It has been a long time coming, but we can finally say with certainty that the Calgary Real Estate market has finally stabilized and is back to where it once was. For some, this is incredibly surprising considering the fact that the overall economic market of Calgary nearly plummeted back in January when the oil sector crashed. For the optimists, this in an unsurprising result of a city who has fought through way too many things to be thrown off track for long. Welcome back, Calgary. We missed you.

While transaction levels this June were 5% below the average, this is completely consistent with trends we’ve seen over the past 10 years.

“We’ve seen less concern from consumers lately. Consumers who were waiting for wide-spread price declines have been…

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Spring is all about fresh beginnings, and that is what is happening in the Calgary real estate market: Calgary is finally recovering from the hit it took back in January when prices in oil fell. Against all odds, Calgary is coming back out on top.

While doomsday forecasters predicted an economic crisis to rival that of America’s crash, the Calgary Real Estate board held onto hope. That hope is starting to pay off. It has taken some time for the real estate market to stablilize after January’s economic hit frightened citizens away from being active in the market, but as the economy gets its footing once more, so has the housing market.

CREB® chief economist Ann-Marie Lurie reports, “For the third month in the row, new listings have eased compared to…

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March was a good month for the world of real estate! Calgary is still in recovery mode from the drop in oil prices earlier this year, but conditions have remained relevantly stable and continue to stay in a healthy environment.

The most significant thing that happened in March that you, a potential buyer or seller, need to be aware of is the rise in inventory and the fact that benchmark prices dropped %0.44. Why is this? The more houses there are on the market, the more competition sellers have. If you are looking to buy, this means you have lots of options at reasonable prices. If you are looking to sell, remember that there are a lot of houses on the market right now, so you need to make sure you are offering a fair, competitive asking price.

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At the end of each month we turn to CREB®, the Calgary Real Estate Board, for statistics on what went on in the market that month and what consumers can expect to see in the coming month! At the end of January, we did not have the best news to report. Unfortunately, due to the significant drop in oil prices, the market was shocked out of a highly optimistic forecast for 2015 and into a month where everything slowed down. People were neither buying nor selling as unstable economic conditions loomed over the market.

We are thrilled to say that this is no longer the case! The market in February was still not at where it was forecasted to be, but that is completely understandable due to the changes in January. February was a month for recovery, and recover…

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It is that time of year again, folks! The new month is here, bringing a number of changes: the end to Target, the beginning of chocolate roses and adorable cards, the start of the last round of episodes for television shows. What else is new and exciting? The real estate market!

You won’t get details on February until next month. However, by understanding what happened last month, you will be able to make intellectual predictions about what the market could look like this month. That is why each month we post the previous month’s stats. You will be able to start identifying trends and recognizing changes. Without further ado, here are the statistics from January:

Without dancing around the subject, the news is that January was not an especially good…

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