A review of CREB’s numbers from April’s sales can be at first glance a bit sobering. Inventory is up 32.73% year over year and sales are down -20.11% year over year compared to April of 2017. Calgary sales remain well below the 10 year average by about 25%. This has resulted in the absorption rate rising to 4.82 months which is firm territory for a buyers market. Some segments and areas of the market are seeing larger slow downs than others. The largest appears to be in the Detached Single Family Home sector, with the North, Northeast and East Districts all experiencing the greatest declines. The stronger districts remain the South, City Centre and Southeast Districts. The average days on the market depends on the community, but many are in the 40-50 day range, which...

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Choosing an agent to represent you in either the sale or purchase of a home (we’ll include condos in the generic term of home) is an important part, perhaps THE most important part, of beginning your quest to sell or buy a property. Unfortunately, many people mistakenly put too much emphasis on things that they only think are most important. Home improvement and real estate shows have put predictably edited-for television versions of the truth into our psyches, so we associate reality TV shows with actual reality. ( You are allowed to look at more than three homes). So if you don’t want to end up with the wrong person, read on.
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If you read much of what agents use in their marketing, words such as ‘Integrity’, ‘Trust’, and ‘ Experience’ are...

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Calgary’s real estate market has shown a slow but positive recovery in many areas in 2017. The latest stats from CREB (Calgary Real Estate Board) show that the number of transactions have increased year over year by 9%. July activity was off, but any given month can be up or down, depending on factors such as government announcements, inventory, and most definitely in Calgary, the weather, which we know was perfect in July this year (except for that rainout at the Stampede).As CREB President David P. Brown points out, patience is still key in this market. The current CIR REALTY stats show that the year-to-date median price of single family homes is $492,250, which is 6.43% higher than last year at this point. The weakest part of the market, and the one that is dragging down the overall...

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hospitalThe population of Calgary’s Deep South communities is growing, and with that comes new schools, services and retail stores to support this rapidly expanding part of the city. The communities of Cranston, Auburn Bay, Mahogany, and Seton, New Brighton and Copperfield are seeing new amenities open nearby almost weekly, as their numbers continue to grow. The South Health Campus was the first major project completed. It was the beginning to a massive list of projects.

‘If you build it they will come’ was the line from the movie Field of Dreams. I would say that rather, in this case, people have already arrived, creating the demand for the development of new schools, numerous retail centres, and other amenities such as recreation and entertainment facilities. Take a look...

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What happened, What’s Next?
crystal-ballOur market activity and prices were down from 10 year averages in 2016, and also from 2015, but sale prices are not off as badly as you may think. Real estate is always specific to your community and the product (type of home) you are buying or selling. City wide, apartments were off 15% in sales, but only 1.7% in median price. In other words, it took longer to sell and buyers had lots of choices. This is similar to 2008/2009, and it’s due to the over supply of new units built. Happens in every boom/bust cycle.

Attached homes were off 5.5% in sales and 0.9% in median price. Single family homes were off 2.6% in sales and 0.2% in price. It took 42 days to sell, compared to 38 in 2016. That stat really, really depends on your location. A softer market also...

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shcoolWe’ve all seen them. The cheesy, cliched descriptions that some real estate listings contain. Makes you want to reach through your monitor and hit ‘delete’ or ‘spell-check’. Having performed admirably in my youth at spelling bees and grammar, it drives me crazy to read some of the listing descriptions I see. It gives the reader very little confidence that anything is accurate if they can’t spell ‘dining room’ correctly. Add to that the cheesy cliches and you have a cringe-worthy description of your (likely) largest asset for all the world to see.Have you ever seen descriptions in ALL CAPS?!! It’s like the writer is shouting at you. What do you choose as important, when everything is HUGE? It’s fine to highlight a few items...

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