Warren Shouldice

Cell: 403-461-8103 |

As you may know, I build my business on repeat business and referrals. So, I focus a lot of my attention on providing the best client service I can. That service doesn’t end when the transaction is complete. It continues throughout the months and years in between your moves.


If you - or a friend, colleague, family member or neighbour - ever need to talk to an experienced and knowledgeable Realtor with the kind of commitment to client service that I strive to provide, I hope you’ll think of me.


I appreciate your support!



Market Update:


January sales totalled 804 units, 16 per-cent below last year and 21 per cent below long-term averages for the month. The Calgary Real Estate Board (CREB) expects this slow market to continue through the first quarter of 2019.


Persistent buyers’ market conditions have continued to impact prices. Citywide residential benchmark prices eased to $414,800 in January. This is nearly one per-cent lower than December and four per-cent below January 2018 levels.



Quick Stats:


 

Jan. 2018

Jan. 2019

Y/Y% change

Detached

     

Total sales

584

486

-16.78%

Inventory

2,200

2,834

28.82%

Months of supply*

3.77

5.83

54.79%

Average DOM

55

67

22.31%

Benchmark price**

$498,700

$476,500

-4.45%

       

Attached

     

Total sales

230

192

-16.52%

Inventory

1,150

1,466

27.48%

Months of supply*

5.00

7.64

52.71%

Average DOM

66

77

17.70%

Benchmark price**

$328,400

$313,700

-4.48%

       

Apartment

     

Total sales

145

126

-13.10%

Inventory

1,290

1,173

-9.07%

Months of supply*

8.90

9.31

4.64%

Average DOM

76

81

6.80%

Benchmark price**

$256,400

$251,300

-1.99%

 

 

*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.



Should I Move or Renovate?


Determining whether you should buy a new home or fix up your current one isn’t easy. In fact, the decision can be steeped in so much drama, they make reality TV shows about it!


So, if you’re wondering whether to move or improve, here are three things to consider:


1. Will a renovation truly fix what you don’t like about your property?

If you’re tired of a small kitchen, for example, given the layout of your house, it might not be possible to make it any bigger. On the other hand, if you’re craving a spacious rec room with a cozy fireplace, then a renovation could make that happen.

Of course, there are some things you may want that aren’t specific to your house, such as an easier commute or nearby park. Those are features you may only be able to get by moving.

2. How much will a renovation cost? How does that compare to the cost of moving to a new home?

It’s important to get accurate estimates of both the cost to renovate, and the cost of a new home, so you can make an informed decision. 

Renovations often have a habit of costing more than you originally anticipate. Remember, the final result should be a home you want to stay in for quite some time.

3. Beware of compromising versus settling.

Whichever decision you make - to renovate or to sell - you can expect to have to make at least some compromises. That’s normal.

For example, consider the impact of adding an extension to your house. It would be a major renovation. Is it the ideal way to get the extra room you want? Do the benefits of renovating outweigh the benefits of finding a new larger home that already includes the space you need?

It can be a tough decision. If you’re in the midst of making it, call today to get the facts you need to make the best choice.




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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.