It’s almost unfathomable that home prices in Calgary could ever reach the lofty heights that were attained in 2007. That was the year when Calgary home prices reached their peak. Today, Continue reading
Posted in Calgary SFH, Predictions
Update: It took 21 days for an accepted conditional offer, and 32 days for a firm sale at $430,000.
It’s been a while since I’ve asked readers to guess the days on market of a new listing, but here we go. It’s pretty rare to find a house in such an atractive area for $172/sq ft in Calgary. Check out this New listing in Ranchland Estates
It needs a bit of work, but most homes of this size and era are selling for around $200/sq ft if they’re in original condition. With a major renovation, this home would likely be selling in the $575,000 – $600,000 range.
I did a search on MLS of all active listings between 2500 – 2800 sq ft of a similar style(2-storeys and 2-storey splits). The results show 170 listings, and the lowest priced was this one. The next lowest was $474,800.
I could see that we had an inventory crunch coming. I said it back in January, but we’re now finally hearing it in the media:
Global TV(Fri May 4): A lot of people are looking to buy, but realtors say Continue reading
Posted in Calgary SFH, Predictions
Last night on CBC’s The National, a panel of learned individuals were discussing the real estate “bubble” in Canada. CBC The bottomline
The general consensus was that we’ll see a 10 – 15% correction in housing prices. Continue reading
Posted in Predictions, Price correction
The April 2012 stats update can be seen here
From the Calgary Herald Calgary housing maket soars in April
The Herald reports sales are up 26%, but that’s compared to 2011. I feel that it gives a more accurate picture to compare to the 3-year average, as below.
Posted in Calgary Herald, Market update, Month-end
It’s been said that the future of the housing market depends on first-time buyers, and it stands to reason that the market requires a healthy supply of entry-level buyers to enable the move-up buyer to sell. According to the latest statistics, the future looks terrific.
Compared to last year, April sales to first-timers are up 63%.
Posted in First-time buyers
We started seeing more homes being listed this month, but sales have increased even more. Over the past two days, 13% of SFH have sold for list price or higher.
Compared to the 3-year average,
Posted in Calgary SFH, Market update
A home in Scarboro slated for demolition sold yesterday for $55,000 OVER list price. It was listed at $850,000 and was only on the market for two days.
Over list price Continue reading
Posted in Over list price
We’ve seen four consecutive months of higher sales and reduced inventory. What will the consequences be? Continue reading
Posted in Graph: Sales vs inventory
Buyers are bidding up the prices of single family homes in Calgary. Yesterday, with 72 total sales, 15 sold for list price or higher, with 11 actually going OVER list. Continue reading
Posted in Calgary SFH, Over list price
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