Heading Towards a Seller’s Market. After a brief respite, buyers have once again returned to the market.  Spurred on by the historically low interest rates which are likely to rise in just a few months 1st time buyers have returned in force.  Over 10% of all the homes listed under 450K sold last week alone.  The Absorption has fallen back to just over a 2 month supply and well within what is considered a balanced market and Trending toward a seller’s market in 3 to 6 weeks Interesti ... Full Article...

Happy New Year Everyone! 2010 is setting up to be a very interesting year. Based solely on the current number of MLS listings we can expect that sellers are going to start the year at a disadvantage. Currently, there are but 3200 homes for sale in the City of Calgary. In a City of Calgary’s size, we should anticipate somewhere between 5 and 7 thousand homes in order to maintain a stable market. When buyers recover from their holiday hangover and return to the market in numbers in the 3rd ... Full Article...

Pros and Cons of Christmas I suppose there are two ways of looking at this early December Real Estate market. On one hand, the 349 sales last week in the City of Calgary is a full 50% below the 700 Sold in the first week of July and a full 25% below the what was seen just a month ago. On the other hand, last week’s 349 sales represents a 67% increase over the sales in the same week last year. This is typically the slowest time of the year in the Real Estate Calendar but is not without its ... Full Article...

Fall Slowdown May Have Finally Arrived. Last week’s sales numbers indicate a 20% slowdown over the week before. Annually, we can anticipate a significant slowdown every fall in the lead up to Christmas. The slowdown can often begin in October but this year the first signs of it only materialized last week. If you follow my weekly blog, you will be aware that I anticipate a very healthy February to May real estate market. Driven by an anticipated lack of supply in the early months of next ... Full Article...

Another week with no signs of the fall Slowdown. As a whole we are still in a balanced market however, as one of my clients just discovered some pockets of the city are on fire. In this case smaller condos in the SW have gone up about 10K on average in the last month. I have just been out looking for homes around the 400K mark in the Deep South and truthfully the pickings are fairly slim. I was also a little disappointed in the quality of homes within 100K of the million dollar mark close to ... Full Article...

Still Life Left in the Fall Market! What over the last couple of weeks looked like the beginning of the fall slowdown turned around and showed signs of life again last week.  With sales jumping to their highest levels since early September and the Absorption rate dropping to the rate we saw in late August the Market was quite buoyant last week.   The balanced market continues across most price bands.   Arguably, homes under 450K which saw over 13% of the total stock sell last week, are almost ... Full Article...

The balanced market that we have been enjoying over the last 4 months or so is continuing but for how long is the question. Over the next 90 days we will likely see a 25% reduction in the number of homes on the market. These homes normally reappear gradually over the first 4 months of the New Year. However, when the buyers return (normally the 3rd week in January) there is the potential of having significantly less than 4000 homes on the market. This would put us in a significant supply shortag ... Full Article...

This Week's Trends. In general, the market seems to be humming along at a nicely balanced pace. This is the longest "balanced market we have had in over 3 years. Supply is meeting the demand in all areas outside of apartment condo's and high end homes, Typically, from this point to the end of the year we see a decline in both the number of listings and the number of sales. By December homes fall of the market in droves as buyers virtually disappear only to reappear in February and March. An i ... Full Article...

Both average and median prices jumped this week due largely to the large number of homes between 500K and 650K.  The market continues to be very stable with very few changes over the past few weeks. This weeks Top 3 1.  Prices jump by 10K this week.  Not likely a trend but simply due to the composition of sales. 2.  Apartment style condominiums continue to be the most difficult product to sell.  In the last 6 months alone Apt. condos have gone from 56% of all condo listings to 62% today.  They ... Full Article...

No major changes in the market since last week.  We appear to be in a nice stable market for the first time in years.  Here is this weeks top 3. 1.  57% of all homes listed are selling over the course of their first listing period. 2.  The Median number of days on the market for a well priced home to sell is 37. 3.  On average a listing is currently fetching 96.8% of it's list price. Check in again next week.  Or contact me if you need any other market information.  I track over 50 diferent m ... Full Article...

Calgary Real Estate Snapshot. The usual August Slowdown has arrived but not to the extent of past years.  Supply continues to decrease in the City of Calgary down another 200 from last week. Top 3 Trends This Week. 1.  Suppy in all quadrants except the NE are at 2 year or near 2 year lows. 2.  Properties outside of Calgary are not selling at the same rate as within the City limits. 3.  Homes under 350 = Sellers Market.  Between 350 and 550 = Ballanced Market.  Over 600 = Sellers market. Until ... Full Article...

Top 3 Notable Calgary Real Estate Trends #1  Supply of Homes in the North West at their lowest levels since the Spring of 2007. #2  Numbeer of Total listings still falling.  Now below 5000 in Calgary! #3  Median number of days to sell a home sits at 31. Check next Tuesday for My Top 3. Marc