December is definitely the most popular month for making plans!

If you’re like most homeowners, you’re looking ahead to the new year with hopes and dreams — and perhaps even a few specific goals.

There are likely things you’d like to get done. You may have milestones you hope to reach and accomplishments you aim to attain.

Whatever your plans, I’ll be cheering you on!

Of course, if you’re entertaining the idea of selling and finding your next dream home in 2023, I’m here to help. I can provide you with the market data and insights you need to make an informed decision. If you do decide to move, I can make that happen for you — smoothly and successfully.

So, keep me in mind when you’re making your plans for the new year. I’m a real estate resource you can tap into.

Have a wonderful new year!

The ancient Greek philosopher, Heraclitus, said, “Change is the only constant in life.” Well, that’s certainly true. Things change... Often!

Kids get older. People take on new hobbies. Careers evolve.

As a result, a house that was perfect when the owners originally purchased it may no longer be ideal. That can be the reality even if they’ve only been living there for a short time.

While you may not be in that situation now, you might be in the next few months or years. When that happens, please don't hesitate to reach out to me. I'd be happy to help!

MARKET UPDATE:

October sales eased compared to last year’s levels, mostly due to slower activity in the detached sector. However, with 1,857 sales this month, levels are still stronger than long-term trends and activity reported prior to the pandemic. Year-to-date sales have reached 26,823 and with only two months to go, 2022 will likely post a record year in terms of sales.

“Calgary hasn’t seen the same degree of pullback in housing sales like other parts of Canada, thanks to persistently strong demand for our higher density product,” said CREB® Chief Economist Ann-Marie Lurie. “While our city is not immune to the impact that inflation and higher rates are having, strong employment growth, positive migration flows and a stronger commodity market are helping offset some of that impact.” New listings also trended down this month causing the sales-to-new-listings ratio to rise to 85 per cent and inventories to trend down. Much of the inventory decline has been driven by product priced below $500,000.

While conditions are not a tight as what was seen earlier in the year, with only two months of supply, conditions remain tighter than historical levels. We are also seeing divergent trends in the market with conditions continuing to favour the seller in the lower-price ranges and shifting to more balanced conditions in the upper-price ranges. As of October, prices have eased by four per cent relative to the highs reached in May. This is considered a relatively small adjustment when considering price movements in other large cities. It is also important to note that the October benchmark price is still nearly 10 per cent higher than levels reported last year.

Strong sales for condominium apartment and row properties was not enough to offset declines reported for other property types. This caused city sales to ease by nearly 12 per cent compared to last year.

However, with 1,901 sales in September, activity is still far stronger than levels achieved prior to the pandemic and is well above long-term trends for September. Despite recent pullbacks in sales, and thanks to strong levels earlier in the year, year-to-date sales remain 15 per cent higher than last year’s levels.

The shift to more balanced conditions is causing some adjustments to home prices. While prices have slid from the highs seen in May, as of September, benchmark prices remain 11 per cent higher than last year and six per cent higher than levels reported at the beginning of the year.

If you’re like most people, your home is your most important investment. On the one hand, it’s a financial asset (and hopefully a growing one!) But, on the other hand, it plays a huge role in your overall lifestyle.

So, ideally, your home should be right for you from both a financial and lifestyle standpoint.

Is it?

That’s a question worth answering.

In fact, I recommend that my clients review the financial and lifestyle values of their property at least once a year. It’s helpful to know what your property is worth on today’s market and it’s absolutely vital to know if your home is still supporting the lifestyle you want. (For example, is it now too big or too small for your needs?)

I can help you with that analysis.

Give me a call. I’d be happy to give you a good idea of what your home would likely sell for on today’s market - and help you determine the degree to which your home is fitting the lifestyle you want.

How often has someone asked you about a particular professional or a service company? For example, they may have asked, “Do you know a good tree trimming service?” or “Can you recommend a great accountant?”

Chances are you’ve been asked plenty of times over the years.

The reason is obvious. Most people would prefer to work with a professional or company that a friend or neighbour has endorsed. That’s why they ask for recommendations!

With that in mind, when you get asked, “Do you know a great real estate agent?” I hope you’ll offer my name. If you do, I promise to provide that person with my very best service — as I do for all my clients.

Detached:

Calgary recorded 1,268 sales this month, a significant gain relative to last year and 30 per cent higher than longer-term trends. Sales this month improved across all price ranges except homes priced under $400,000. However, the decline in sales in the lower price range is likely related to limited supply choice. On a year-to-date basis, prices have improved across all districts, with gains that range from a low of five per cent in the City Centre to nearly twelve per cent in the South East. The City Centre is the only district where prices remain below previous highs. The September detached benchmark price of $537,500 has trended down slightly from the record high set in July, but this has not erased earlier gains, as it remains nearly 10 per cent higher than last year.

Semi-Detached:

With less supply choice in the lower price ranges of the detached market, many consumers have turned to the semi-detached sector. With 2,005 sales so far this year, year-to-date sales are over 45 per cent higher than long-term trends and have reached new record highs. The improvement in sales was, in part, related to the improvements in new listings. The sales-to-new listings ratio in this sector has averaged below 70 per cent over the past several months. This is nowhere near as tight as the detached sector, which has averaged 80 per cent. While conditions have not been as tight in the semi-detached sector, there have still been substantial price gains this year. As of September, the benchmark price was $424,900, slightly lower than last month, but over eight per cent higher than last year’s levels. Like the detached sector, the semidetached sector’s slowest price growth has occurred in the City Centre. On a year-to-date basis, prices remained below previous highs in the City Centre, North East and South districts.

Row:

With 318 sales this month, year-to-date sales pushed up to 3,057 units, which is 62 per cent above long-term trends and on pace to hit record levels this year. Sales have risen across every district, with the largest growth recorded in the South East district. While new listings did improve this month, it was not enough to prevent further declines in Inventory levels. The months of supply remained relatively low at less than three months, which is well below traditional levels for this time of year. Tighter conditions have supported price growth across all districts so far in 2021. However, unlike the detached and semi-detached sectors, row prices remain below previous highs across all districts in the city.

Apartment:

A boost in new listings this month translated into some gains in sales activity. However, with a sales-to new-listings ratio of 58 per cent, inventories still trended up relative to the previous month and last year’s levels. The months of supply remained just below five months in September, far lower than levels recorded last year and over the past five years. Conditions have generally been more balanced for this property type compared with other sectors, preventing strong price gains. On a year-to date basis, citywide benchmark prices improved by nearly three per cent, but they remain over 14 per cent lower than previous highs.

Quick Stats:

*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.

DIY Friendly Bathroom Makeovers

• Update the sink. If you have some basic plumbing knowledge, this is a project you should be able to do on your own. A new sink can make the entire vanity look like new.

• Buy new decor. New shower curtains, towels, window coverings, mats, etc. can transform the look of a bathroom.

• Install new hardware. Replacing cabinet hardware may not seem like much of a change. However, it can have a surprisingly big impact. Shiny new hardware is like jewelry. It stands out.

• Replace the vanity mirror. Even if there are no scratches, an older mirror is like an old pair of glasses. It can become foggy. No amount of cleaning will make it any clearer. When ordering a replacement mirror, be sure that your measurements are exact.

• Paint. There’s no doubt about it. A fresh coat of paint makes any room look better.

These bathroom improvement projects can make a huge impact on the look of your bathroom. And, they can all be done affordably and in just a day or two.

Detached

Semi-Detached

Row

Apartment

Quick Stats:

*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.

The Latest Options in Outdoor Lighting

Outdoor lighting has come a long way from the days of patio lanterns and strings of lightbulbs. These days, there’s an exhaustive array of options available to illuminate your outdoor space, and make it more appealing and comfortable, particularly in the evenings.

Here are just a few ideas:

Solar garden lights. These lights are on stakes that can be easily inserted throughout the garden. Powered by the sun, they generate enough energy to cast a soft, pleasant glow along walkways or in flower beds in the evenings.

Deck post lights. These are easy to install because they’re designed to sit on top of a standard 4x4 wood deck post. Most are solar powered.

Street-style lamps. As the name implies, these look similar to old-fashioned street lamps. Installation is a little more complex, but still DIY-friendly. They’re eye-catching and have a dramatic impact on the look of your outdoor space.

Portable lantern lights. These are outdoor lights that are portable and often made to look like a decorative fixture for a coffee table or side table. They can be placed anywhere.

LED walkway lights. These are small lights that fit neatly and almost invisibly under stairs and around walkways. Walkway lights not only look good but also improve safety. Most are battery powered.

Planter lights. This is one of the most interesting options. Each one is both a flower pot and a light in one! The pot itself is translucent which allows the light inside to shine through.

Design experts say you should treat your outdoor space as you would any room in your home. Lighting it up for evening comfort and enjoyment is a good place to start.