Warren Shouldice

Cell: 403-461-8103 |

Here in Calgary, we're continuously dealing with an ever changing real estate market. I've been in this business for many years now, and I have a lot of knowledge and information at my fingertips. If you have questions about real estate, I encourage you to pick up the phone and give me a call. I'd be happy to provide you with any information you need.

For example, you might want to know what a particular property sold for in your area. I can help you with that. Or, you might be curious about the current market value of your home. I can help you with that too!

Please think of me as your personal real estate expert. Give me a call anytime!

Market Update:

The detached sector continues to drive the Calgary market. Supply is now less than two months and the market is firmly in balanced territory. Sales are still lagging behind long term averages but the lack of new listings has helped the benchmark price increase for the third straight month.

Conditions in the apartment sector are quite different as added inventory from new builds continues to saturate the market.

Year-over-year inventory levels dropped by 16% in March, this was driven by reductions of 25% and 17% in the detached and attached sectors respectively. Inventory of apartment style homes increased by 3% from last year.

Quick Stats:

  Mar. 16 Mar. 17 Y/Y % change
Detached      
Total sales 1005 1176 17.01%
Inventory 3093 2312 -25.25%
Months of supply* 3.08 1.97 -36.12%
Average DOM 41 days 38 days 7.46%
Benchmark price** $505,300 $503,900 -0.28%
       
Attached      
Total sales 328 428 30.49%
Inventory 1478 1227 -16.98%
Months of supply* 4.51 2.87 -36.38%
Average DOM 44 days 51 days 15.23%
Benchmark price** $337,800 $330,000 -2.31%
       
Apartment      
Total sales 257 302 17.51%
Inventory 1531 1575 2.87%
Months of supply* 5.96 5.22 -12.45%
Average DOM 48 days 57 days 17.93%
Benchmark price** $282,000 $269,700 -4.36%

 

Months of supply* The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

Benchmark price** The monthly price of the typical home based on its attributes, providing the best measure of price trends.      

 

How Much Is Your Home Worth?
 
If you are like most homeowners, you have probably often wondered what your home is currently worth.

You may want to know the value of your home just because you’re curious, or because you need to know the financial value of this important investment, or even because you’re thinking of making a move in the near future.

These are all good reasons. So how do you find out?

Well, a lot of homeowners simply guess. You might have heard a friend or neighbour say, “We bought this property for such and such five years ago. So I bet we could get such and such if we sold it today!” 

Unfortunately, a guess is just a guess. It’s often wrong. 

Other homeowners might find out what the “house around the corner” sold for last month, and base their estimate on that. While that’s actually a more accurate predictor of what your home is worth, you can still be off by tens of thousands of dollars. 

The best way to find out what your home would sell for in today’s market is to calculate its Current Market Value. This is done by reviewing what similar homes in your area have sold for recently – usually within the last six months – and then, based on that data, and the unique characteristics of your home, determining the value of your property today. 

Looking for help on how to calculate what your home is currently worth? Call today.


Should You Host During A Viewing?
 
You take pride in your home. So, when you put it up for sale, you want to show potential buyers all the great features that make your property so appealing.

But is playing host and guiding buyers through your home a good idea? Usually not.

When a potential buyer sees your property – either during a viewing or an open house – the buyer wants to feel free to look around, ponder each room, look at things with a critical eye, and ask candid questions of the Realtor. If you’re there, the buyer may not feel comfortable doing any of that. In addition, buyers want to envision themselves living in the house, but if you host the tour they are constantly reminded that it is your home. Consequently, they might not develop an interest in buying your property!

So playing host, no matter how good your intentions, will likely result in more lost selling opportunities than you will gain.

If possible, always make sure you’re out of the house during a showing. You can run an errand or take your family to the park.


Consider The Possibilities
 
You’re shopping for a new home. You visit a property that looks great from the outside, but when you go inside to explore the rooms, you’re disappointed. The kitchen is cluttered and “feels” small. The living room seems too wide. The master bedroom doesn’t look comfortable at all.

Should you strike this home off your list of possibilities?

Maybe. Maybe not. You see, there may be any number of reasons why a room doesn’t look appealing. Some of those reasons may have little to do with the size and configuration of the space.

For example, a bedroom might look tight and uncomfortable because there are two over-sized dressers taking up most of the space, making the room feel cluttered. Without them the room could be ideal.

The kitchen might seem small because the toaster, coffeemaker, spice rack and numerous other items are using up all the counter space. If you can imagine those gone, you might see how roomy the kitchen could feel.

So the next time you’re viewing a home, consider the possibilities for each room, not just how the room actually looks now.


Notable, quotable... quotes!
 

“Action is the real measure of intelligence.” 
Napoleon Hill

“Intelligence without ambition is a bird without wings.” 
Salvador Dali

“We can’t plan life. All we can do is be available for it.” 
Lauryn Hill

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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.