The forecast is in! The Calgary Real Estate Board (CREB®) reports, “increased sales and easing new listings reduced housing inventories in August. Sales were primarily driven by homes priced below $500,000.” The sale of homes priced under $500,000 kept the market from suffering, even though higher price range homes didn’t experience as much activity.
CREB® chief economist Ann-Marie Lurie reports on the economy, “employment numbers have been improving, but mostly in industries that are traditionally lower paid. This is contributing to the shift that we are seeing in the housing market, with growth being limited to product priced below $500,000.” The jobs available are not ones that afford people the luxury of buying a home, but typically once these
We know that this recent Calgary real estate market has been challenging. Homes have been sitting on the market for longer than usual, leaving sellers frustrated as buyers continue to withhold offers and inventory levels remain high. While these are not ideal conditions to step into as a seller, you can still come out on top by doing two things:
First, stay informed! Each month we summarize the Calgary Real Estate Board's latest statistics report. You can find those summaries here and visit CREB yourself here.
Second, partner with us and experience the Team Ken Richter Advantage. When you are one of Ken's valued clients, you get to experience the power of an incredible professional real estate
Good news, everyone! We are starting to see a trend emerge: inventory levels are declining, edging off a buyers’ market into more balanced conditions.
The Calgary Real Estate Board (CREB®) reports, "for the fourth consecutive month, inventories in the market declined compared to last year. This is due to the combination of improving sales and a decline in new listings." While the market still leans towards benefiting buyers, if supply continues to reduce and sales balance out, we should see really strong conditions.
CREB® chief economist Ann-Marie Lurie notes, "we are starting to see reductions in supply across the resale, rental and new-home markets. This adjustment in supply to the lower levels of demand will support more balanced
The Calgary Real Estate Board's big headline this month? "APRIL BRINGS A SLIGHT INVENTORY DECLINE." Why so dramatic? Because for months now Calgary's real estate market has been struggling with massive oversupply in the market, leading to a buyer's market at a time when few people were able to buy. This news is an exciting turn of events (one which was forecasted at the start of the year) that will hopefully bring increased stability to the real estate market here in Calgary, Alberta.
In their media report, CREB notes, "There have been no significant changes occurring in sales activity, but the number of new listings coming onto the market continues to ease relative to 2018 levels. The decline in new listings was enough to start chipping away at
The economy deeply effects the housing market. This may seem obvious; after all, you hear it time and time again. However, it is important to know exactly how and why the economy effects the housing market. This is important because these two things impact the lives of Calgarians and people everywhere deeply; two of our most common basic needs are shelter and financial resources. Let's learn how they interact.
Each month the Calgary Real Estate Board releases the previous month's real estate market statistics. Each report begins with a summary of the major trends that emerged, such as the months of supply and benchmark prices. For those of you who read these, or our summaries of them (which you can find here), you may be familiar with CREB's chief
It's that time of the year again... the Calgary Real Estate Board has released their latest market statistics summary. This one goes over everything that happened in the Calgary real estate market during this last month of March. Did St. Patrick's day bring the Calgary real estate market some good ol' Irish Luck? Read on to find out.
If this is your first time reading these stats, here is what you need to know: ever since the last oil crash that hit Alberta's economy hard, the Calgary real estate market has been struggling to recover. As people lost their jobs, couldn't find jobs, were forced to go further in debt and drained their savings, owning a home became a distant memory or a dream, but not a reality.
The Calgary Real Estate Board has released it's statistics summary for the month of February. You may have noticed that each month we summarize their report for you. Here is the reason:
When it comes to buying or selling a home, you need to be informed. The real estate market can be fickle, so having a good understanding of current market trends, long-term forecasts and more is crucial in helping you make the best decision possible. Stay informed, but also don't feel like you need to figure it out all on your own! Your real estate professional is your absolute best resource when it comes to understanding the housing market.
Ready to make a move? Contact me directly at 403-630-6363. I would be happy to offer you a complimentary home evaluation
The Calgary Real Estate Board announced its stats for January 2019! Read on for the inside scoop....
As economic challenges linger into 2019, housing markets remain on a sluggish pace.
In January 804 units were sold. This is 21 per cent below long-term averages for the month of January, and 16 per cent below last January's averages.
Citywide benchmark prices eased to $414,800 for residential homes, dropping 1 per cent from the previous month of December, and 4 per cent below averages from January in 2018.
Months of supply now sits at seven months. This is due to yet another increase in inventory, without enough sales to balance the scales. As such, Calgary continues to stay locked in a buyer's market.
When you are thinking of real estate, especially now in 2019 during Calgary’s challenging real estate market, think no further than to hire myself, Ken Richter for excellent service and ultimate results. As your trusted professional Realtor® I have 30+ years of experience, 2018 ranked Top 6 Individual Agent at RE/MAX Real Estate (Central), the #1 Selling Real Estate Office Worldwide for 19 consecutive years and finished in the Top 100 in RE/MAX Western Canada once again.
Contact me today at 403-630-6363 or ken@kenrichter.com.
This month the Calgary Real Estate Board released it's 2019 forecast, which echoed much of what we've heard in the last year: this economic climate is making buying and selling homes challenging.
The Calgary Board of Real Estate notes in their January report, "as oversupply continues in Calgary’s housing market, December prices eased by one per cent compared to last month and are over three per cent below last December." This summary of what happened in the final month of 2018 paints a bleak picture of December, which hopefully ended a difficult year in the real estate; though still better than others. Our hopes are that we see even more improvement in 2019!
Here are the highlights from their statistics summary:
December sales totalled 794 units. This is a 21% decline compared to December of 2017.
Year-to-date sales in the city totalled 16,144 units. This is 20% below long-term averages and about 14% less than in 2017.
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When you are thinking of real estate, especially now in 2019 during Calgary’s challenging real estate