Warren Shouldice

Cell: 403-461-8103 |

During the year, you probably come across a lot of people - friends, neighbours, relatives - who are thinking about buying or selling a home. The biggest question on their mind is likely, “How much would my current property sell for today?” As a REALTOR® it’s my job to know what’s happening in the real estate market. So, I can give them a good idea of how much their property would likely sell for, given today’s market conditions. Feel free to give them my name. I’d be happy to help them in any way I can.

 

MARKET UPDATE:


The detached market continues to improve in Calgary with the benchmark price up nearly 2% from last year. A rise in inventory and fewer total sales compared to last year has pushed the months of supply above three for the first time since January. This will provide buyers with more choice than in previous months.


Like the detached market, attached homes also trended upwards last month. Both markets are moving in a similar direction with modest price gains and increased inventory and months of supply. This increase to inventory levels along with the recent lending rate hike could slow the pace of recovery in the housing market.


The apartment sector continues to face oversupply issues in both the new and resale market. Benchmark prices are down a little more than 3% from a year ago and overall are down close to 12% from their peak. As always, prices and market strength vary widely across different locations and price points. 


QUICK STATS:

 

 

  July 16 July 17 Y/Y % change
Detached      
Total sales 1109 1018 -8.21%
Inventory 2743 3268 19.14%
Months of supply* 2.47 3.21 29.79%
Average DOM 43 days 38 days -11.15%
Benchmark price** $502,300 $512,100 1.95%
       
Attached      
Total sales 380 363 -4.47%
Inventory 1408 1597 13.42%
Months of supply* 3.71 4.4 18.74%
Average DOM 50 days 47 days -7.15%
Benchmark price** $331,900 $336,300 1.33%
       
Apartment      
Total sales 255 256 0.39%
Inventory 1557 1810 16.25%
Months of supply* 6.11 7.07 15.80%
Average DOM 56 days 59 days 5.29%
Benchmark price** $275,200 $266,200 -3.27%


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.

 

BE A SAVVY HOME VIEWER

 
The last thing you want to experience after purchasing a home is “buyer’s regret”. That’s the sinking feeling you get when you realize, days or weeks later, that you may have made the wrong decision. Say, for example, you bought a home based on your first impressions. When you viewed it, you thought it was just perfect. Then, a few weeks after you moved in, you discovered that the bedrooms are smaller than you had originally thought and the street is loud and busy. That wouldn’t be a very good feeling! That’s why it’s important to become a savvy home viewer. When you visit a property for sale, you need to move past your first impressions and take a comprehensive look at the property and the neighbourhood. That way, there won’t be any unpleasant surprises later on. 


Here are some tips on how to do just that:

  • Take the time to carefully view each room, including closets and storage areas.
  • Make sure you have measurements of all the rooms.
  • Imagine yourself living in the home. Where will you have dinner? How will your furniture look? What is it going to be like to travel to work and school each day? Where will your kids play?
  • Get a professional home inspection. Then, make sure you read and understand the report.
  • Understand and get estimates for any maintenance and repair issues, such as required bathroom upgrades or roof shingles that need replacement.
  • Walk the neighbourhood and get a clear sense of what it’s going to be like to live there.
  • Carefully consider any negative issues before telling yourself, “I can live with this.”
NOTABLE, QUOTABLE... QUOTES


“Nothing will work unless you do.” 
Maya Angelou


“Happiness is not something ready-made. It comes from your own actions.” 
Dalai Lama


“You may be disappointed if you fail, but you are doomed if you don’t try.” 
Beverly Sills

 
Not intended to solicit buyers or sellers currently under contract. 
©IXACT Contact Solutions Inc.



 

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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.