Market Update - Sales improving and inventory declines for fourth month in a row

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by CREB® on August 01, 2019

City of Calgary, August 1, 2019 – For the fourth consecutive month, inventories in the market declined compared to last year. This is due to the combination of improving sales and a decline in new listings. 

The market continues to favour the buyer, but a continuation in supply reduction compared to sales is needed to support more balanced conditions.

“We are starting to see reductions in supply across the resale, rental and new-home markets,” said CREB® chief economist Ann-Marie Lurie.

“This adjustment in supply to the lower levels of demand will support more balanced conditions. It is starting to support more stability in prices. If this continues, the housing market should be better positioned for recovery as we move into 2020.”

Year-to-date sales activity remains just below last year’s levels and well below longer-term averages. However, the reduction in inventory has caused the months of supply in July to ease to 4.5 months, a significant improvement from the 5.5 months recorded last year. 

With less oversupply in the market, prices are showing some signs of stability on a monthly basis. This is causing the rate of price decline to ease on a year-over-year basis. Overall, year-to-date benchmark prices remain over four per cent below last year’s levels.

September 2018

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To view the gender reveal click here: VIDEO

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Summer Time Fun 

The summer has flown by... How is it already September?! Lots of new updates. We found out we are having a girl (GIRL POWER). We went "Glamping" with Revy RV in Tofino (see dirty photo of family above) and stayed at the Marco Polo Inn  located in Victoria on the Island. Both are experiences I would recommend. I have also had the opportunity to work with many wonderful clients this summer. In recognition of my success I reached the top 10 at Century 21 Bamber, a huge milestone. I've also partnered with The Emma House, a local charity. I have committed to making a donation to them on every deal.  

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Market update

In the real estate market, a stricter lending criteria along with higher interest rates have affected sales over the first half of 2018. This decline in sales was greater than anticipated. 

"Easing sales combined with rising inventories has pushed the market into an oversupply situation for all products, affecting pricing for all products, which include detached, semi-detached and row, and apartment," said CREB® chief economist Ann-Marie Lurie.

"Overall, prices are expected to ease by over one per cent across the city, with expected declines ranging from 2.5 per cent in the apartment sector to nearly one per cent in the detached sector."

"Prices were not expected to improve this year. However, supply has not adjusted fast enough to weaker than expected demand. This is causing us to make a downward revision from earlier estimates."

Sales have continued to slow year-to-year and have been met with a rising number of new listings on the market. It is unlikely the issues of oversupply with correct this year, which has caused price easing across most product types. 

"This is a market where a solid pricing strategy will make a sellers' home more attractive," said CREB® president Tom Westcott. Therefore my strategy has been to price homes competitively based on this market for my clients personal sales goals and timelines. 

Altadore 3902 19 Street SW

ATTENTION ALL BUILDERS, INVESTORS AND FAMILIES LOOKING FOR A BEAUTIFUL LOT IN ALTADORE. This 41.99ft by 126.87ft lot on a corner could be yours. This property is enclosed by grand trees and lilac bushes. Centrally located in the neighbourhood you have great access to Marda Loop Shopping, Schools and Parks. Zoned RC-2 this lot has immense potential. The cute little home could easily be rented and in the past had a basement suite. Call today to book a private showing 403-918-8881.

Mission YYC

This charming character home in Mission is a fantastic opportunity to live inner city. The property has been well maintained and updated, new laminate and carpet, baseboards, doors, pot lights, 6 new windows, new roof 2016, construction of front porch, interior paint updated, and much more. Live in one of the most desirable neighbourhoods in the city, walk to work, top restaurants and the Repsol Sport Centre in minutes. The main floor offers an open spacious living space with beautiful pot lights throughout, granite countertops in your kitchen and a half bath. On the upper level you'll enjoy a full bath and three bedrooms, take your coffee off the private back balcony surrounded by trees. The basement features an illegal suite, or could be utilized for extra storage. Book your showing today!

16 Ways To Get Your Home Ready For Summer

 

  1. Refresh your bedding! Why not try a new duvet cover or some pillow shams for a fresh look and feel. 
  2. Rearrange Furniture! The ultimate no-cost redecorating tip, great way to make your space feel new. 
  3. Use foliage to add some green to your space. Fun vases, banana leaves, palms, or succulents are a great way to update in a low maintenance way. 
  4. Clean. Cleaning walls and scrubbing floors, things get dingy through the winter freshen up with a brand new Mr. Clean Eraser. 
  5. Grab a new sent! Change out your warm winter candles for fresh laundry or citrus tones. 
  6. Paint your walls! Touch ups or a completely new colour. Painting your walls can make your home feel new again. 

308 Point Mackay Gardens NW

Welcome home! This beautiful corner unit features 3 bedrooms, an updated kitchen with stainless steel appliances and a double oven, a wood-burning fireplace, new carpet, a new storm door, new bathroom vanities, a large master bedroom with double closets and a 4-pc ensuite with new bathroom tile, and a private deck facing lovely green space. There are three levels of renovated living space and the lower level has full laundry, a storage room, a heated attached garage, heated tile, two hot-water tanks and an underground sprinkler system. The other two bedrooms are a good size and face the green space, the closet space is ample, there is plenty of natural light and windows and the home is in immaculate condition. It is situated next to the Bow River Pathway, close to downtown, quick access to the mountains, walking distance to the Foothills Hospital and near U of C. These units are rare to come on the market and it is one of the most sought after being a corner unit and facing the tranquil green space!

Character Home - Parkhill

This beautiful home exudes class with 4500sq ft of total living space. Featuring 4 fireplaces, large entertaining spaces, crown mouldings, a statement staircase and a sprawling open concept, this home is a must see! The large master retreat has built-in cabinets surrounding the fireplace, a reading space and an abundance of natural light leading into the ensuite. This home offers buyers unique options: convert the upstairs library/den into a a bedroom, rent basement nanny suite or use as a home-based office featuring a separate/walkout with French doors, heated floors, 9ft ceilings, kitchen, glass room for wine collecting; rent the ground level carriage house featuring 10ft ceilings, heated floors, kitchenette, 3pc bathroom or use as art/music space; convert the whole basement into play area/recreational space. The front patio is heated to melt away snow and the front and backyard are roughed in for hot tubs. This property offers the unique opportunity to house a family, business and all hobbies!

South Calgary

Welcome to your chalet in the city. This nicely updated home in South Calgary boasts granite counter tops, a gas range, sub-zero refrigerator, south backyard, heated bathroom floors and an ideal inner city location. Walk in the front door and you will be welcomed by an open foyer and staircase which transitions into the kitchen and cozy living room warmed by a gas fireplace. Enjoy your bright south facing kitchen with modern lighting, built in cabinetry, six stove top range and access to a private tree-lined deck. The outdoor space is complete with a low maintenance yard and built in sprinkler system. Upstairs consists of 2 bedrooms, a master with his and her closets, a 4 piece bathroom with jetted tub, and heated floors. In the basement there is an open rec room with built in cabinetry, a full bathroom with walk-in shower and 3rd bedroom. Conveniently located near excellent schools, shopping, public transportation and a short drive to downtown. Call your Realtor today for a showing!

Park Point - Exclusive Listing

Welcome to your one bed one bath west facing unit on the 27th floor of Park Point. Located in the heart of Calgary's Beltline Community, across from the historic Central Memorial Park it is adorned by walking paths, and water features in the park. The building boasts many amenities. Enjoy your Zen Terace, social lounge with seating and fire pit, BBQ area, fully equipped fitness facility, steam room, 24 hour concierge service, and guest rooms. This is an exclusive listing and you will not find this unit on MLS. This unit is available in the Summer/Fall 2018. Contact me today to hear more! 

Parkhill

This beautifully updated 3 storey home located in Parkhill is a must see! The home exudes natural light throughout the open concept main floor, the kitchen is newly renovated with stainless steel appliances, granite counter-tops, an expanding island and wood burning fire place! The elegant staircase leads you upstairs to find 2 bedrooms. The master bedroom has a large en-suite bathroom and your own private balcony! Additionally, there is a loft on the 3rd storey which can be used as a play area or great office space! The basement consists of a large entertainment area, a 3rd bedroom and laundry room! This property is in an amazing location, close to downtown, Stanley Park, 4th Street shops & restaurants, the Glencoe Club, schools, and public transit.

Lincoln Park

Just listed in Lincoln Park Calgary. Welcome to the best priced apartment in Laurel House At The Park. This unit exudes convenience and easy living with its accessibility to major roadways, proximity to Mount Royal University, functional layout, and low condo fees. Enjoy the serene patio and open concept living space, in addition the kitchen is equipped with stainless steel appliances, ample storage, prep space and a cute breakfast bar. The Master retreat has everything you're looking for, with a cheater four piece en-suite and two large closets. The building is well managed and boasts access to a private courtyard, gym and party room available for booking. Click on link below to find out more. 

2018 Goals

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Setting Big Goals for 2018! At university we were always taught to set SMART goals: Specific, Measurable, Attainable, Relevant and Time-bound. I do this by first setting my yearly goals, then break them down by month and then by week. The tasks needed to meet my weekly goals feel much more achievable. Looking forward to selling lots of homes this year! 

Picture Wall

I always like to redecorate when my husband goes out of town. Now that our daughter is walking around I thought it might be nice to get all the pictures off the TV stand and up on the wall so she doesn't pull them down anymore. My Mom helped me and brought a frame and a mirror to bring everything together. We used newspaper to cut shapes of all the pictures we wanted to put on the wall and then taped them into position before putting any nails in. This made it way easier to visualize what it would look like. We used some 3M to put the lighter pieces up. I was very happy with the result and it took no time at all and gave our home a fresh little look. See the final result below. 

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New Listing - 2019 2nd Ave NW #8

Welcome to your attached home in the desirable community of West Hillhurst. This bi-level has a south facing balcony, three good sized bedrooms down with an open and well laid out living space up. Renovated in 2014 with granite counter tops, linoleum flooring, new back-splash, appliances, plumbing and fresh paint, the unit is incredibly inviting. Located just a five minute drive to Kensington, the downtown core, Crowchild Trail and North Hill Mall this location can't be beat. Walking distance to Vintage Coffee, Dairy Lane, Hillhurst Market, 1918 Tap Room and many more great spots. With low condo fees, this self run complex is well cared for by the owners. Come take a look at this great unit today!

Cliff Bungalow

Community of the Month

Cliff Bungalow is a beautiful inner city neighbourhood that borders 17th Avenue, Mission, Mount Royal and the Elbow River. Having lived in the area with my Parents and with roommates over the years I can honestly say it is a great place to live. There are parks with playgrounds, tobogganing hills, and great access to restaurants, coffee shops, Safeway and anything else you could think of. If you are looking for a neighbourhood where you can lead a pedestrian lifestyle and have a single family home Cliff Bungalow might be just what you are looking for.