Warren Shouldice

Cell: 403-461-8103 |

There's no denying 2018 was a difficult year for the resale housing market in Calgary. This is mainly due to the continued weakness in the job market, constant lending rate hikes, as well as the new lending restrictions which took effect at the start of the year. Looking at the market as a whole (detached, attached, and apartment) prices declined approximately 1% from last month and are down over 3% from a year ago. All told, prices are down close to 10% from the high water mark set back in 2014. Despite these challenging conditions, I believe the housing market and this city as a whole have shown a great deal of resiliency over the past 5 years. 


Quick Stats:

 

 

Dec. 2017

Dec. 2018

Y/Y% change

Detached

     

Total sales

617

496

-19.61%

Inventory

2,040

2,592

27.06%

Months of supply*

3.31

5.23

58.06%

Average DOM

52

66

28.46%

Benchmark price**

$498,700

$481,400

-3.47%

       

Attached

     

Total sales

222

192

-13.51%

Inventory

1,099

1,288

17.20%

Months of supply*

4.95

6.71

35.51%

Average DOM

59

74

24.72%

Benchmark price**

$330,400

$317,900

-3.78%

       

Apartment

     

Total sales

170

106

-37.65%

Inventory

1,183

1,024

-13.44%

Months of supply*

6.96

9.66

38.82%

Average DOM

81

74

-8.62%

Benchmark price**

$257,800

$251,500

-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.


4 Ways to Make the Home Hunting Process Easier

Shopping for a new home can be intimidating. With so many things to do and think about, it’s easy to feel overwhelmed. But it doesn’t have to be that way. Here are some good tips for making the home hunting process a lot easier and much less stressful.


1. Get your mortgage arranged in advance.


You don’t want to find the ideal home on the market, only to face problems arranging a suitable mortgage. You might end up losing the opportunity. So, make mortgage arrangements in advance by getting “pre-approved”. With that pre-approval, you can shop for a new home with confidence.


2. Clearly define the kind of home you want, and the neighbourhood you want to live in.


You can’t view every home that’s on the market. If you try, you’ll burn yourself out! So, write down a clear description of the kind of home you want. How many bedrooms? Big kitchen? Pool? 

Don’t forget to include the neighbourhood. Upscale? Close to downtown? Lots of trees and parks? Urban and close to shopping and theatres?

With this information, we can quickly create a shortlist of properties that meet your criteria.


3. Take good notes.


After viewing a few homes, you may easily start to forget the details. Was it the first property that had the large elm tree in the backyard or was that the fourth property you saw? If you take good notes, you’ll be better able to make decisions later on about which homes to shortlist.


4. Take care of yourself, and your family.


Eat right. Pace yourself. Don’t try to view too many homes in one evening or on one Saturday afternoon.



Doorways to Better Living Spaces

When people renovate or remodel a room, they almost always overlook the door. However, changing the style of an interior door, or adding a new one, can dramatically change the look of a living space - often for the better.


Although the most common type of door is the traditional solid 6-panel door, there are many other choices available. Want to add light and a greater sense of space to a room? Consider a door with glass panels. Do you have an interior door that gets in the way when opened? Change it to a bi-fold door, which cuts the distance of the swing in half.


There are also specialty doors that are designed to block noise, and sliding doors that tuck neatly into the wall when opened.


Interior doors are typically much less expensive than their exterior counterparts. So, making the decision to upgrade or add a door to a room is an affordable design option. Visit a door showroom and explore the possibilities.





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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.
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