Housing market conditions continue to follow similar trends to last year, with gains in sales.
At the same time, there have been further reductions in new listings, inventory and more declines in prices.
January sales activity was 863 units, nearly 8% higher than last year's levels. While sales remained well below January activity recorded before 2014, they remain consistent with activity recorded over the past five years.
''A persistent slowdown in the energy sector has resulted in a reset in many aspects of our economy. This includes the housing market, '' said CREB chief economist Ann-Marie Lurie.
''We continue to see the slow adjustment to a more balanced conditions, but it will take time before that starts to translate into price stability''.
Citywide unadjusted benchmark prices were $417,100 in January. This is slightly lower than the previous month and nearly 1% lower than last year's levels.
Benchmark prices eased, but there were some modest improvements in both the average...
Ron Garneau
Calgary's real estate market in December caps off 2019 with more signs of stability
December sales improved to levels more consistent with activity recorded over the past five years.
This follow weak sales activity last year.
A stronger second half in 2019 was enough to push annual sales up by 1%.
"Price declines, lower mortgage rates and some modest improvements in full-time employment helped support some demand growth in the city. Reductions in supply are also contributing to the slow adjustment to more stable conditions in the housing market," said CREB chief economist Ann-Marie Lurie.
"As oversupply in the market continues to ease, we should start to see more stabilization in prices. However, conditions continue to favor the buyer and this is weighing on prices".
December unadjusted benchmarks prices were $418,500. This is just slightly lower than last month and 1% per cent below last year's levels. Overall prices in 2019 declined by 3% over last year's levels. The total adjustment in prices in a 10% decline since the 2014 slowdown in the energy sector.
While...
This follow weak sales activity last year.
A stronger second half in 2019 was enough to push annual sales up by 1%.
"Price declines, lower mortgage rates and some modest improvements in full-time employment helped support some demand growth in the city. Reductions in supply are also contributing to the slow adjustment to more stable conditions in the housing market," said CREB chief economist Ann-Marie Lurie.
"As oversupply in the market continues to ease, we should start to see more stabilization in prices. However, conditions continue to favor the buyer and this is weighing on prices".
December unadjusted benchmarks prices were $418,500. This is just slightly lower than last month and 1% per cent below last year's levels. Overall prices in 2019 declined by 3% over last year's levels. The total adjustment in prices in a 10% decline since the 2014 slowdown in the energy sector.
While...
Happy New Year!
Happy New Year! May 2020 bring an abundance of health, joy and prosperity!
We would like to say a big Thank you to our valued clients as well as friends and family that recommended us and everyone who supports our business.
Alberta experienced a slower economic condition and it has contributed to a decrease in average residential prices.
It was a challenging year but it doesn't mean it was a bad year in the Real Estate World.
- Challenging markets with some fantastic and exciting opportunities for buyers.
- Regarding sellers, the number of sales has been strong in December 2019 and we see the same trend for January 2020.
We are proud to be part of the RE/MAX Team and be in the Number One recognized Real Estate organization in the world.
We are looking forward to 2020 and working with all of our past clients as well as all new clients and future referrals.
Please visit our website or like us on Facebook and Instagram to see our new listings and the latest Real Estate News!...
We would like to say a big Thank you to our valued clients as well as friends and family that recommended us and everyone who supports our business.
Alberta experienced a slower economic condition and it has contributed to a decrease in average residential prices.
It was a challenging year but it doesn't mean it was a bad year in the Real Estate World.
- Challenging markets with some fantastic and exciting opportunities for buyers.
- Regarding sellers, the number of sales has been strong in December 2019 and we see the same trend for January 2020.
We are proud to be part of the RE/MAX Team and be in the Number One recognized Real Estate organization in the world.
We are looking forward to 2020 and working with all of our past clients as well as all new clients and future referrals.
Please visit our website or like us on Facebook and Instagram to see our new listings and the latest Real Estate News!...
April Market Update
A Slight Inventory Decline:
There have been no significant changes occuring in sales activity, but the number of new listings coming onto the market continues to ease relative to 2018 levels.
The slight adjustment in supply levels has helped support further reductions in the months of supply, which was 4.6 months in April. While this level still represents oversupply in our market, it does reflect improvement from the nearly seven months of supply that we saw at the start of the year.
As of April, the total residential benchmark price in Calgary was $415,900. This is slightly higher than last month, but nearly 5% lower than last year.
Demand remains relatively weak in the resale market. However, if supply levels continue to adjust, this could help reduce the amount of oversupply and eventually support some price stability.
Citywide sales were 1,547 units in April which is 2% higher than last year. Year to date sales remain nearly 6% lower than last year and are 26% below long...
There have been no significant changes occuring in sales activity, but the number of new listings coming onto the market continues to ease relative to 2018 levels.
The slight adjustment in supply levels has helped support further reductions in the months of supply, which was 4.6 months in April. While this level still represents oversupply in our market, it does reflect improvement from the nearly seven months of supply that we saw at the start of the year.
As of April, the total residential benchmark price in Calgary was $415,900. This is slightly higher than last month, but nearly 5% lower than last year.
Demand remains relatively weak in the resale market. However, if supply levels continue to adjust, this could help reduce the amount of oversupply and eventually support some price stability.
Citywide sales were 1,547 units in April which is 2% higher than last year. Year to date sales remain nearly 6% lower than last year and are 26% below long...
A look back at 2018
As per tradition, many people make New Years resolutions that often fade away before the end of January. Let's do things differently this year and stick with it!
As the new year is upon us, it's important to take a moment and reflect on the previous year. What did you do differently that you would like to carry forward into 2019? What habits or events would you like to leave behind?
A good way to jump into a new year, is to take care of some clutter that maybe has been lingering on your "To Do" List. Nothing feels better than the acomplishment of simplifying our lives.
For those of you who are overwhelmed by the clutter, here are some great ways to get started, 5 minutes at a time.
1. Designate a spot for incoming papers: Those pesky piles of paper often account for a lot of our clutter. This is because we always seem to put them in different spots- on the counter, on the table, on our desk, in a drawer, in our car... No wonder we can't find anything! Designate...
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