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Tagged : Calgary real estate market

Found 5 blog entries tagged as "Calgary real estate market".

November 2017 Calgary real estate stats


Past Month - November 2017 - Calgary Market Stats

Calgary Detached House & Condo Buyer's Market

The following stats will give you a glimpse into the Calgary detached house and condo market for November 2017.

  • Detached House Median Sale Price $465,000 (down 4.1% Yr/Yr)
  • Detached House Benchmark Sale Price $504,000 (up 1.0%)
  • Condo Median Sale Price $250,000 (down 2.0% Yr/Yr)
  • Condo Benchmark Sale Price $258,300 (down 3.9%)
  • Detached Homes Days on Market = 48 vs 45 days last year
  • Condos Days on Market = 65 vs 58 days vs last year
  • Detached homes sales up 12.8%; Apartment sales up 14.4%.
  • Detached home Listing Inventory is now 3.12 months vs 3.00 months last year
  • Condo listing inventory is now 6.69 months vs 7.34 months last
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Calgary house sales surge in March? 

Your trusted source for Calgary Real EstateCalgary Herald headline (April 2/12) read "Calgary house sales surge in March". Great tagline, the story goes on to describe how Calgary home sales showed a "stunning" growth when compared with a year ago (read full article here).

While all of this is fact, these numbers are all relative to those they're being compared to. We'd like to offer another perspective on the market, and allow readers make up their own minds.

According to WEBSTERS, Surge (verb) = "to rise suddenly to an excessive or abnormal value"

Not convinced that "surge" was the best way to describe last month's sales numbers, I checked the Calgary Real Estate Board's (CREB's) database for March sales in each of the past 10 years:

 

March 2012 Calgary Home Sales

While the graph

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Canadian mortgage rateThere is big news for those of you who pay attention to the mortgage market in Canada: starting April 19th the rules regarding mortgages will change and while not too dramatic, they will affect many homeowners and investors in Calgary Real Estate and across Canada. The motivation behind these alterations appears to be to prevent people operating within the Canadian real estate market from taking on too much debt. In order to achieve this goal, the government is enacting three major changes:

1/ Changes to qualifying rate:

The first big change within this new legislation will be to require those qualifying for a mortgage to have that qualification based on a five-year fixed rate regardless of the actual rate they negotiate. While those who are looking for

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Calgary: Top Real Estate Monopoly Contender

Calgary Real Estate Monopoly Calgarians have to step up if they want their city to be the next “Boardwalk” on the Canadian version of Monopoly. Hasbro’s new Canadian edition is going to be filled with 22 of Canada’s top cities and voting is what is going to be the factor in determining what those cities are. I am willing to bet that whatever city gets to be in place of Boardwalk will get a bump in real estate prices (don’t quote me on it though). All it takes is a few seconds and a few clicks and you can make our Calgary real estate market worth more.

Even Calgary’s Mayor, Dave Bronconnier, came out in full regalia to help push us towards our pcs in support of the Calgary real estate market obtaining that coveted Boardwalk spot.

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Single-family Homes Spur Calgary Real Estate Market

calgary-housing-starts_849 Calgary real estate is showing promise with single-family homes being built at a faster pace than the same period in 2008. The Calgary real estate market had a 2009 record of 832 units built in one month. Chief Economist Bob Dugan of the Canada Mortgage and Housing Corporation, said that “despite a small decline in November’s multiple home construction, overall starts numbers were up due to a solid increase in singles starts.”

The renewed interest in home construction and the real estate market in Calgary is likely due to lower prices, reasonable mortgage rates, and less availability. Strong demand for single-family housing continues to rise and push for more new construction.

November’s

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