Warren Shouldice

Cell: 403-461-8103 |

The effects of Calgary’s economic climate continue to create weak sales activity and elevated inventory in the city’s housing market. In February, citywide benchmark prices were $414,400. This is nearly five per cent below last February, slightly lower than last month’s figures and over 10 per cent below highs recorded in 2014. While the market remains oversupplied, slower sales and price declines do appear to be influencing sellers. New listings this month eased by eight per cent compared to last year for a total of 2,211 units. However, the 976 sales this month were not enough to substantially impact inventory levels, which remain elevated at 5,885 units. As a result, it remains a buyer's market within most areas, property types and price points.

Quick Stats:

 

Feb. 2018

Feb. 2019

Y/Y% change

Detached

     

Total sales

653

593

-9.19%

Inventory

2,459

2,987

21.47%

Months of supply*

3.77

5.04

33.76%

Average DOM

45

62

38.53%

Benchmark price**

$502,100

$475,600

-5.28%

       

Attached

     

Total sales

239

234

-2.09%

Inventory

1,312

1,597

21.72%

Months of supply*

5.49

6.82

24.32%

Average DOM

56

62

11.25%

Benchmark price**

$328,600

$313,800

-4.50%

       

Apartment

     

Total sales

197

149

-24.37%

Inventory

1,436

1,301

-9.40%

Months of supply*

7.29

8.73

19.79%

Average DOM

68

71

5.00%

Benchmark price**

$256,700

$252,300

-1.71%

 

*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.


A Bird’s Eye View of Selling Your Home

If you haven’t sold a home before, the process can seem complex and even intimidating. It really isn’t. In fact, the steps to selling your property - quickly and for the best price - are straightforward, although not necessarily easy.


Here’s a bird’s-eye view of the steps to expect:

  • Determine what your property will likely sell for on today’s market. This is referred to as the Current Market Value.
  • Decide on a list price. Doing this properly is crucial. If you set the price too high, you’ll discourage buyers from seeing your home. On the other hand, if the price is too low, you may be leaving thousands of dollars on the table.
  • Prepare your home for sale. This involves cleaning, de-cluttering, fixing and staging so that your property wows potential buyers.
  • Market and promote the property to the marketplace. This needs to be done effectively to maximize the number of qualified buyers who find out about and become interested in your listing.
  • Show your property to buyers interested in seeing it.
  • Negotiate offers effectively so that you sell your property for the best price and conditions.
  • Make a deal and begin the transaction paperwork!

Of course, you don’t have to do it all alone! As your real estate sales associate, I will do most of the heavy-lifting for you. I’ll be by your side throughout the process, helping ensure your home sale is trouble-free and successful.



Worried You Won’t Find the Home You Want?

If you’re thinking of selling your home, you may be concerned that you won’t be able to find the kind of property you’re looking to buy. After all, getting into a more desirable home is the main reason many people move in the first place.


Should you be concerned? There are a couple of things to consider:


First, think about the last time you purchased a car. You probably had a price range in mind and a general idea of the kind of vehicle you wanted. After visiting a few dealerships - or shopping online - you probably discovered seven or eight models that fit your criteria. Even with that limited selection, you were likely able to pick one that was right for you. Well, that’s good news. In the real estate market, there are probably dozens of properties available that meet many or all of your criteria. So, the odds are in your favour that you’ll find a property you love. Secondly, new properties come on the market all the time. As your real estate sales associate, I will keep an eye out on your behalf and quickly alert you to new listings that match your needs and wishes. Is it possible that you still won’t find a home that’s absolutely perfect for you in every way? Of course it is. However, there is an excellent chance you’ll get into a property that has everything you need and most, if not all, of what you want.



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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.