Calgary Housing Market Report , March 1, 2017 – After the first two months of the year, Calgary’s detached sector continues to drive a slow transition in the housing market. February sales totaled 1,342 units, which is still 19 per cent below long-term averages, but an improvement over the past two years. As sales kept trending upward, detached inventory levels continued to ease in February. These conditions caused months of supply to fall to 2.4 months, putting less downward pressure on pricing. Unadjusted detached benchmark prices totaled $501,900 in February, which is one per cent lower than prices recorded last year, but slightly higher than January figures. “There seems to be a new sense of optimism these days,” said CREB® president David P. Brown. “Some sellers are feeling upbeat about the changing landscape and the improved chances of selling their home. Other people are looking at the spring market with caution and wondering if we’re going to see a higher than expected surge of listings. While there’s less product on the market right now, sellers still need to be realistic with their pricing.” The amount of excess inventory eased in the overall market in February, setting the stage for a transition to a more stable market this year. Months of supply totaled 3.4 months, down from five months over last February. At the same time, the sales-to-new-listings ratio trended from a near record February low of 39 per cent last year to 55 per cent this February. With sales improving and new listings and inventories contracting—two key measures of market balance, there’s good evidence to show that the housing market has started a trend toward more balanced conditions. “The transition in the housing market appears to be underway,” said CREB® chief economist Ann-Marie Lure. “However, it is important to note that this change is primarily being driven by improvements in the detached market and stability in the labour market.” “It will take some time for these conditions to translate into all housing segments and achieve price recovery,” said Lurie. “But all indicators continue to point toward a slow transition from a contracting market toward one that is stabilizing at lower levels.”
Posts tagged with "Home Evaluation"
Thinking of Selling Your Calgary Home?
Do I Buy first then sell? Or Sell then Buy?
There are three options to look at and choose.
Sellers need to think very carefull about the option they choose.
Option 1: Low Risk: Sell Your Home First then Buy Your Next Home
This option is the safe financial approach for most clients. Put your property on the market and wait for a firm sale, i.e. when all conditions have been removed. Ensure you have a 2 to 3 month possession date so you have time to find a new property.
This ensures you know what funds are coming from the sale of your home.
The sold price is fixed and you can make an offer on a home with confidence.
You only need to have two basic conditions when buying with Option 1:
1) Homes Inspection
2) Finance Condition
Sellers do not like a Sale of Buyers Home Condition and Option 1 does not require this condition.
Option 1 allows you to make an Offer that is more aggressive and the seller will more likely negotiate with you.
Option 2: High Risk: Buy Your Next Home and List your Home
If you have funds beyond your present home this option works.
However if the funds for the home you are buying come from your present home then this is high risk.
Option 3: High Risk: Make an Offer on your next home that is conditional upon sale of your home. Can cost you money and frustration! No Deal!
This can be costly since the seller will not generally drop price of home a significant amount. The deal does not usually go through due to sale of your home not completing on time. The seller may not even look at your offer due to this condition, especially in competing bids.
Need a Home Evaluation please click on this link:
Calgary Housing Forecast: A slow transition for 2017
After a long period of economic downturn, Calgary’s housing market is expected to see some price stability in 2017, but not across all market segments and property types. Both detached and attached prices remain unchanged over 2016 levels, while apartment is forecasted to contract by another two per cent.
“The transition in the housing market will be a slow process,” said CREB®chief economist Ann-Marie Lurie. “We are entering the year with high unemployment rates and the possibility that job growth will not occur until the latter portion of 2017. These conditions will continue to weigh on housing demand, but supply is adjusting to weaker sales activity, which will eventually translate into price stability.”
City-wide sales are forecasted to total 18,335 units in 2017, a three per cent gain over 2016, but 12 per cent below long-term averages. This modest demand change will merge with declining listings and easing inventory in the new home market to support more balanced conditions and prevent further downward pressure on prices.
“This year is about moving away from extremely challenging conditions,” said 2017 CREB® president David P. Brown. “The transition is going to take some time, which means sellers need to stick with the fundamentals of pricing their homes correctly against other comparable product in the market. There’s still lots of choice out there for buyers, but major price declines are unlikely in most segments.”
Hawkwood Real Estate, Matt Antrum & Geoff Antrum – CIR Realty Call at Cell 403 608 5684 for details.
Calgary 2013 Housing Market. What Buyers need to Know?
Homes & Condos under $500,000 are selling faster than past few years. Its a Sellers market. So good quality homes that are priced right will not be on the market for very long. A matter of days in a few key areas of Calgary. There can be multiple Offers and homes can sell at List price. Buyers who keep waiting for a home to drop in price can be disappointed since it could easily sell if its close to market value. This is where Buyers need a REALTOR® to guide them on price and market value. Buyers can get caught up in the hype and over pay. So speak to your REALTOR® about market value for community you are buying in. Ask your REALTOR® what is the Average Drop Price for community you are planning to buy in.
What do we anticipate for the 2014 Calgary Real Estate Market? The following extract from a BMO News Article sums up the forecast for Calgary in 2014……
” Calgary has reclaimed its title as the strongest major housing market in the country after correcting several years ago, says a new report released by BMO Economics. The report, Canadian Housing Update: Tale of Four Cities, examined the state of the housing markets in Canada’s four largest cities: Vancouver, Calgary, Toronto and Montreal. Sal Guatieri, senior economist with BMO Capital Markets, said listings are lean in the city, giving sellers the upper hand right now on prices.“Three main factors. Strong economy. Strong population growth. And good affordability. Those are all driving Calgary’s housing market now and likely in the future,” said Guatieri.
“We don’t see bad things happening to Calgary’s economy any time soon, barring a big drop in oil prices for example. And we think Alberta for one will definitely lead economic growth perhaps for the next couple of years riding the energy boom. As a result, Canadians from across the country will likely continue to migrate to Alberta and Calgary looking for work. That can always support the housing market.”
Calgary is an exciting city to live in. Geoff Antrum and Matt Antrum are here to assist Buyers and Sellers make real estate investment choices that are based on the clients
best interests. Please call us and check out our website at www.SearchCalgaryHomes.ca
CIR REALTY is Alberta’s largest independent real estate brokerage that offers residential, commercial and investment real estate services. Geoff Antrum (403 608 5682) & Matt Antrum (403 608 5684) are REALTORS® at CIR REALTY and we specialize in residential sale in Calgary and area.
The trademarks REALTOR®, REALTORS®, MLS®, are controlled by The Canadian Real Estate Association (CREA). Used under license.
How do I Sell my Calgary Home quickly? We have many sellers ask this question.
Here are some useful tips on how to sell your Calgary home quickly and for top price.
1) Price your home correctly. Listen to your REALTOR® and find out what the market value is for your Calgary home.
2) Choose a Real Estate Office (Brokerage) that will look after your interests and listen to your needs.
3) Choose a REALTOR® who can market your Calgary home to a wide audience. Internet marketing and Google are key features to look for.
4) Make sure the REALTOR® uses a Professional photographer for the property and Virtual Tours are included.
5) REALTOR® Services vary from very little to top of the line in Calgary. We can fine tune our REALTOR® services for each seller.
We offer a Budet, Premium and Elite Service packages to out clients.
Please check out our website at www.searchcalgaryhomes.ca for more information on selling your Calgary home.
Matt Antrum and Geoff Antrum are REALTORS® at CIR REALTY and we can offer many services to Calgary Sellers.
Matt Antrum can be reached at 403 608 5684 and Geoff Antrum can be reached at 403 608 5682.
The trademarks REALTOR®, REALTORS®, MLS®, are controlled by The Canadian Real Estate Association (CREA). Used under license.
CIR REALTY and Value Added for Calgary Buyers & Sellers
How do you choose a REALTOR® in Calgary? Its all about value and what the REALTOR® and the Brokerage (CIR REALTY) can give their clients.
What can we bring to the table for Calgary Buyers and Sellers is the key question.
Please check out our website for Calgary Homes For Sale and “Thinking of Selling Your Home” pages.
Here are key features when you are planning to sell your Calgary Home:
1) Online Marketing: MLS® and Google marketing are essential to sell your home
2) Professional Photographs of Your Home will attract Buyers online to come and view your home
3) Your Home needs to be on multiple Calgary Real Estate Websites
4) Make sure your home is ready for viewing by Buyers
Please contact Geoff Antrum ( REALTOR®) and Matt Antrum ( REALTOR®) at CIR REALTY to buy or sell your next Calgary Home.
Please check out our website: www.searchcalgaryhomes.ca
We have all MLS® Calgary Homes For Sale and you can search all Calgary homes for sale.
Selling Your Calgary Home with CIR REALTY.
Why would you choose CIR Realty to Sell Your Calgary Home?
CIR Realty attracts Calgary Home Sellers due to six key marketing reasons:
1) Highly trained staff and REALTORS® provide professional service that is recognized in the industry.
2) CIR REALTY is the Top Office (Brokerage) in Calgary in terms of sales.
3) CIR REALTY has an online Internet presence that is significant in the Calgary area
4) CIR REALTY has TV and radio adverts that attract Calgary Buyers
5) International Marketing is a major part of CIR REALTY’s business
6) CIR REALTY provides full coverage of Calgary, town’s and rural areas surrounding Calgary.
Please check out our website at www.searchcalgaryhomes.ca if you are thinking of selling your Calgary home.
We can customize our services to meet all Sellers needs in the residential market. Ask for a free home evaluation.
Geoff Antrum (REALTOR®) and Matt Antrum REALTOR®) work with CIR REALTY to provide our clients with the service they want and need to sell their Calgary Home.
We are a Father and Son Team that provides an experience that is professional and geared towards the clients needs & interests.
Email: email@example.com firstname.lastname@example.org
Geoff Antrum: Cell 403 608 5682 Matt Antrum: Cell 403 608 5684
Selling your Calgary Home: Online Marketing Works “GOOGLE, MLS® & REALTOR® Sites”
1) Google: is by far the most important Search Engine for marketing your home. Adwords and Organic marketing both work on Google.
2) MLS® (Multiple Listing Service) is a “must have” for selling your home (www.REALTOR®.ca) in Calgary. The service allows many Buyers and REALTORS® to view online your home and make an appointment to view.
3) REALTOR® Websites that are using Google to advertise your home is also very important.
Matt Antrum and Geoff Antrum REALTOR® Services use Google, MLS® and www.searchcalgaryhomes.ca to sell your home with CIR REALTY.
Please check out our website, www.searchcalgaryhomes.ca if you are planning to sell or buy a home in the next few months. Call us at 403 608 5684 (Matt Antrum) or 403 608 5682 (Geoff Antrum).
2014 is going to be an exciting year for real estate in Calgary. We are planning to release a new real estate website in 2014.
So please stay tuned for our updates and Blogs.
CIR REALTY Is Top Real Estate Office (Brokerage) in Calgary, Again!!
The 2013 Real Trends Canadian 250 Report has announced that CIR REALTY achieved the highest number of closed transactions for 2012 among all Calgary Real Estate Brokerages. This is the second year in a row CIR REALTY have been awarded this remarkable distinction.