Warren Shouldice

Cell: 403-461-8103 |

The ongoing weakness in the labour market coupled with yet another interest rate hike continued to weigh on Calgary's housing sector last month.


July saw a total of 1547 units sold which is nearly five percent down from last year. Although new listings eased slightly to 2964 units, this led to more inventory gains, now sitting at over 8400 units city-wide. With more supply relative to demand, prices continued to edge lower in this buyers market.


Quick Stats:

 

July 2017

July 2018

Y/Y% change

Detached

     

Total sales

1,011

969

-4.15%

Inventory

3,280

4,578

39.57%

Months of supply*

3.24

4.72

45.62%

Average DOM

38

49

28.16%

Benchmark price**

$512,100

$501,300

-2.11%

       

Attached

     

Total sales

360

325

-9.72%

Inventory

1,603

2,098

30.88%

Months of supply*

4.45

6.46

44.97%

Average DOM

47

54

14.87%

Benchmark price**

$336,300

$330,900

-1.61%

       

Apartment

     

Total sales

254

253

-0.39%

Inventory

1,813

1,774

-2.15%

Months of supply*

7.14

7.01

-1.76%

Average DOM

59

62

4.63%

Benchmark price**

$266,200

$259,700

-2.44%

*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 to Decide If You Should Replace Your Windows

One of the most prominent features of any home is the windows. If they are well maintained, they will have a positive impact on the impression potential buyers have of your property. Of course, the opposite occurs when your windows look old and worn.


So, does that mean you should replace your windows?

That depends on a number of factors. Window replacement can be an expensive renovation. Here are a few things to consider before making your decision.

  • Do you see water infiltration or mildew on the interior sides of any of the window sills? This means that moisture is creeping in from the outside, and you need to get those windows repaired or replaced as soon as possible.
  • If your windows are double-paned - (two panes of glass) - check for any signs of moisture in between the glass panes. Moisture indicates that the thermal seal is broken and, at a minimum, the glass will need to be replaced.
  • Take a look at your wind
  • ows from the outside. Is the trim rotted or cracked anywhere? Are there dark spots or any signs of rotting on the wood frames? Repairs or replacement may be required.
  • Check the operation of your windows. Do they open and close easily? Some windows, such as those in bedrooms, are often designed to be big enough to use as an exit in case of a fire. It’s important to make sure those work properly.
  • Finally, are you happy with how your windows look? Do you feel that your property will look significantly better with new windows?

Although they are expensive, replacing windows can have a lot of advantages. Depending on the efficiency of your current windows, replacing them could cut your energy costs by 10-20%. In addition, new windows block out more exterior noise, making your home quieter.



Eco-friendly Choices for Household Floors

Choosing new or replacement eco-friendly flooring is one of the emerging trends among house and condo owners. Eco-friendly flooring is generally identified as being made from and with more sustainable resources; materials that don’t deplete or permanently damage the environment (such as toxic laminates); or, material that is easy to reuse or recycle after its intended purpose. Here are some examples:


Renewable/Sustainable: Bamboo and cork are popular natural resources that renew relatively quickly. It should be noted that traditional woods are also renewable, as long as they are managed through sustainable practices. Before you buy natural flooring products, ask if the harvesting methods are verified through an accredited authority.


Repurposed/Reclaimed: Flooring made from old building structures (e.g. posts, beams, walls and planks) is a viable alternative option to grown and harvested resources. Likewise, recycled glass, plastic and rubber provide ample raw materials for creative flooring effects. Using them also reduces landfill. These products can be found through decorative flooring dealers.


Reusable/Recyclable: When purchasing any product, whether natural, synthetic and/or manufactured, it is important to know that the product can be easily recycled when it is beyond its usefulness, without causing environmental detriment in a landfill.





Read full post
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.