Warren Shouldice

Cell: 403-461-8103 |

For the fourth consecutive month, inventories in the market declined compared to last year. This is due to the combination of improving sales and a decline in new listings. The market continues to favour the buyer, but a continuation in supply reduction compared to sales is needed to support more balanced conditions. Year-to-date sales activity remains just below last year’s levels and well below longer-term averages. However, the reduction in inventory has caused the months of supply in July to ease to 4.5 months, a significant improvement from the 5.5 months recorded last year. With less oversupply in the market, prices are showing some signs of stability on a monthly basis. This is causing the rate of price declines to ease on a year-over-year basis. Overall, year-to-date benchmark prices remain over four per cent below last year’s levels.


Quick Stats:

 

July 2018

July 2019

Y/Y% change

Detached

     

Total sales

968

1,003

3.62%

Inventory

4,592

3,806

-17.12%

Months of supply*

4.74

3.79

-20.01%

Average DOM

49

50

2.63%

Benchmark price**

$504,600

$488,400

-3.21%

       

Attached

     

Total sales

325

352

8.31%

Inventory

2,100

1,709

-18.62%

Months of supply*

6.46

4.86

-24.86%

Average DOM

54

67

24.06%

Benchmark price**

$330,700

$318,300

-3.75%

       

Apartment

     

Total sales

254

291

14.57%

Inventory

1,781

1,664

-6.57%

Months of supply*

7.01

5.72

-18.45%

Average DOM

62

79

28.05%

Benchmark price**

$258,200

$249,900

-3.21%


*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 Minimize Water Damage

It’s amazing how much damage water can cause. Just two gallons of water from a burst pipe or overflowing toilet can wreak havoc throughout your home and necessitate thousands of dollars in repairs!


What should you do at the first sign of water leakage?


First, stop the source. Turn off the nearest water valve. If you can’t find it, turn off the main water valve to your home. Next, do everything you can to soak up as much water as possible. If necessary, lift carpeting. Pay particular attention to water settling next to walls or inside ductwork. Get these areas dry as quickly as possible. Contain the water. This is important. Do your best to prevent water from infiltrating other rooms to prevent further damage. Once the area is as dry as possible, run fans in the room along with a good dehumidifier - for at least a full day - to draw in the remaining moisture.


If, despite your best efforts, you suspect that moisture remains inside the walls, floors or ceilings, call in the professionals. There are many companies that specialize in emergency water damage control. The key is to prevent the possibility that remaining moisture will provide an environment for mould to grow. Also, consider contacting your insurance company. They’re as motivated as you are to reduce the damage.



Gentle Ways to Deal with Insects in the Home

A growing number of homeowners are uncomfortable using traditional pesticides for a variety of reasons, including health and environmental concerns. If you’re among them, here are some natural ways to deal with insects in your home:


  • Use a mixture of unsweetened lemon juice and water to deter spiders. Spray the solution near doorways and window sills where these arachnoids can enter.
  • Combine an equal mixture of vinegar and water to create an effective deterrent for a variety of crawling insects, particularly ants. Spray the solution on floors and countertops that are close to these creatures’ food sources.
  • Believe it or not, invest in a fake wasp nest (which you can purchase at your local home improvement store) to deter real wasps from building a nest on your property.
  • Experts recommend that you test any surface spray you plan to use to make sure it doesn’t stain or otherwise harm the surface.
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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.