A recent RE/MAX survey conducted by Leger found more than one in four Canadian homebuyers report feeling pinched by the stress test, which came into effect in January of this year. However, projections for the spring market show optimism with most markets expected to remain stable or improve. For the full report click HERE. Continue reading →
market update
Calgary housing market inventory on the rise
As expected, slow sales this quarter have persisted through March in the City of Calgary. This is not a surprise, after stronger growth in sales at the end of last year following the announced changes to the lending market. First quarter sales totaled 3,423 units, nearly 18 per cent below last year’s levels and 24 per cent below long-term averages. Easing sales and modest gains in new listings caused inventories to rise and months of supply to remain above four months. “Economic conditions are slowly improving, but it has not been enough to outpace the current impact of higher lending rates and more stringent conditions,” said CREB® chief economist Ann-Marie Lurie. For the full report provided by the Calgary Real Estate Board click HERE. Continue reading →
2018 Forecast for real estate in Calgary
Housing market conditions are expected to remain relatively unchanged in 2018, as the impact of higher lending rates and stricter lending criteria are offset by modest improvements in the economic climate. Recent changes may have prolonged the recovery period in our market, but it is not expected to completely derail the transition. Full the full report click HERE.
Please do not hesitate to contact Doug, Susan or Kristen with any real estate questions. We are a family real estate team who has been serving Calgary since 1977 and we love what we do and where we live! www.penleymcnaughton.com
Calgary real estate market update for May
Click HERE for the full statistical report for Calgary’s real estate market update and useful links to check out. We also have a market update for Calgary’s surrounding areas such as Airdrie, Oktoks, Chestermere, Cochrane etc. if you are interested. If you have any questions or would like us to pop by and complete an a current market evaluation of your home or revenue property please do not hesitate to contact Doug, Susan or Kristen at Team Penley McNaughton. We are a family real estate team with RE/MAX serving Calgary for 40 years (Doug has been licensed for 40 years… this is not a combined number of how long all of us has been in the business 🙂 ). www.penleymcnaughton.com
April's real estate market update for Calgary
Spring is finally peeking around the corner after a drawn-out winter and with it comes the promise of sunny afternoons, blooming flowers, and a slowly defrosting housing market. Now is the time to harness the spirit of spring and tick off items from the to-do list around the house: spring-cleaning, taking advantage of renovation sales, and freshening up the home’s vibe.
The weather might not be quite warm enough yet to put on the gardening gloves but we’ve set out some ideas on how to bring the benefits of a fresh garden right to your kitchen counter. We’ve also included an update on recent developments in the local real estate market and the latest infographic market reports in our monthly newsletter. If you, your friends or family are looking to buy or sell real estate, please keep us in mind. We are happy to answer any questions and look forward to guiding you on your housing needs. Click HERE for the full report.
Calgary real estate report for February
After celebrating the New Year, we are yet again preparing for Valentine’s and Family Day this month!Read our featured article on a new cool gadget called FridgeCam™ in our Newsletter and get a full real estate market update for the month. As always, we love hearing from you. If you, your friends or family are looking to buy or sell real estate please keep me in mind. Your referral is the best compliment we can receive. Click HERE or on photo to view full report.
Calgary Real Estate Board January housing statistics
City of Calgary, Feb. 1, 2017 – For the fourth consecutive month, housing inventory levels have recorded year-over-year declines. At 4,112 total units, January’s inventory was 18 per cent below last year’s levels.
“While housing conditions continue to favour buyers, a slow transition toward more balanced conditions is helping to ease downward pressure on home prices,” said CREB® chief economist Ann-Marie Lurie. “Conditions have improved over last year, but people need to remember that last year’s market was one of the weakest on record. Despite the appearance of a major shift in activity, the transition in the housing market is going to be a slow process.”
January sales totaled 947 units, 24 per cent above last year, but 21 per cent below 10-year averages for the month. Sales activity improved across all product types, but only when compared to the near record lows that occurred in January 2016.
The detached segment of the market is demonstrating the most improvement. Sales activity totalled 584 units in January, a considerable improvement over the 466 sales recorded last year. Inventories have also declined pushing the months of supply to 3.2 months well below the 5.4 months recorded in January 2016.
“This past month showed how the market never stands still,” said CREB® president David P. Brown. “The market isn’t expected to be as unpredictable in 2017, but it’s early in the year and there are still lots of unknowns that will shape decision-making for consumers.”
“Every transaction is a personal decision and anyone going through the process of buying and selling real estate will be trying to make the best decision for their family. They need to consider their long-term objectives and think about the price they are willing to accept or pay for a home.”
City-wide benchmark prices totaled $437,400, 0.16 per cent lower than last month and 2.82 per cent lower than last year’s levels. Since recent highs in 2014, residential prices have declined from a low of 4.9 per cent in the detached sector to highs of 11.5 per cent in the apartment condominium market. Click HERE for full report or feel free to contact Doug, Susan or Kristen with any questions you might have!
January 2017 Market update and Newsletter
New Year is about new heights and new achievements, new experience and new acquaintance. As we start Year 2017, a year of the rooster – a very proud and confident bird that carries itself with dignity, we hope all these necessary qualities help you to emerge victorious in all your new and existing endeavors! To start the new year right, we have provided a quick recap of the local real estate market last year to give you a sense of where we are at today. Click HERE for full details. Doug, Susan and Kristen from Team Penley McNaughton at RE/MAX Real Estate Central in Calgary wish you all the BEST in the year to come!
Check out the RE/MAX Housing Market Outlook 2017
For a full detailed report on the housing market provided by RE/MAX for the entire country of Canada please CLICK HERE . If you are just interested in the Calgary’s real estate market go straight to page 8 of the update. If you have any questions – never hesitate to call us as we would be happy to help. Our family team is always here for you 403-283-7113 www.penleymcnaughton.com RE/MAX Central Calgary.
Cheers, Doug, Susan and Kristen
Calgary Market update and Newsletter
We are a few days away from the holidays and closing the exciting year of 2016. We hope you enjoy the holidays with your loved ones, and take this time to reflect and be grateful for all the blessings you have received this year. Feeling a little stressed out about decorating your home this holidays? Our article on Christmas lights will provide you with the advantages of choosing LED lights compared with the traditional incandescent lights. And if you are into high-tech stuff, then the Christmas Laser Lights Projector might interest you. We listed a few questions to guide you in choosing the best projector that suits your needs. However, if you are into DIY projects and are looking to save some money on decorations, check out our photo feature for some creative Christmas tree ornaments you can easily do on your own. As always, we are here to support you with whatever real estate concerns or needs you have. Your referrals are always welcome and appreciated. On behalf of our family, we extend our warmest holiday greetings to you and your family. Cheers, Doug, Susan & Kristen
CLICK HERE to access the full report and newsletter.
