Hello, June 2022. Did you know we are only a few weeks away from the longest day of daylight of the year? That's right folks by the last week of June the days get shorter. The sun comes up and goes down on a shorter schedule until we get to the shortest day sometime late in Dec 2022. What does this mean for the Calgary Real Estate Market? Nothing that I can think of, I just thought you might want to know.
So let's see, today the Russians are still killing people without cause in Ukraine and probably all over the world as well. The midget Putin is still breathing, which is a shame. The EU is helping Putin kill kids by buying oil from Russia. Hey, Canada Here! We have oil to sell you know. There have been many Putin's in history and often you read how those close to those historical Putin's regretted not putting a bullet in the heads of their Putin's. Hey all you close to Putin, have no regrets!
Another day in the USA and more futures are snuffed out in senseless school shootings. World mouthpieces offer canned responses on thoughts and prayers. Guess what your thoughts and prayers are not working. Taking the weapons of mass destruction out of the hands of kids would be a start. Anybody that has ever been a kid knows that mental issues are a large part of growing up. Not a time to be able to buy machine guns. How smart were you at 18? Would you have sold you a machine gun? Common sense is a myth. Thoughts and Prayers are not actionable. I wonder how long before I can just copy and paste this? Sad.
Avoid the Noise! Get off your phone, turn off the TV, and stop reading online BS. Get outside and enjoy the warm weather, sunshine and happy people! Take a road trip. Take a day trip. Visit a small town outside the City. Take a Hike! Golf. Read a Great Book. Relax in your backyard. The more involved in other things you can get, the less space for the BS of the world to cloud your mind. Take a break! You Deserve It!. Till next month.
Rising Interest Rates to knock down inflation is a big topic. It makes one wonder who is it that gets the Extra Interest being charged. The banks obviously benefit when they get to raise the rent on the money they are already renting out. Rising interest rates are a transfer of wealth from Money Renters to those with money to rent. Inflation, to me, means Wages and Earnings are not moving to keep pace with the devaluation of our currency. Prices don't go up, the value of our money goes down. Inflation is business owners failing to pay employees more. Google is buying back 70 Billion dollars of their own shares. Apple is doing something similar. If they and others simply paid employees more instead of buying back and burning paper, inflation wouldn't be used as a tool to make the rich richer.
The Hot Calgary Real Estate Market will end. I know this for 100% certainty because it always does. If you've ever seen an ants nest explode because there are just way too many ants in the nest, that is what this market feels like. Everybody decided at once it is time to move. Once they get settled into their new ant hills, things get back to normal. The Fear of Missing Out is the final cliche for today. Don't fall for it. It's not real. We live in a world of abundance. FOMO is an illusion. Be picky and patient, my friends!
All Homes Sales Calgary - Apr 1St 2022
Daily Average Sales drop from 185 in Feb to 133 in March. However total sales for the month of March reach what has to be an all-time high for the City of Calgary Real Estate Agents. 4,124 homes in Calgary got claimed by new owners. The Calgary Real Estate Market for those in it right now feels like an Instant Pot Pressure Cooker that just popped its top. I predict the market will continue like this until it stops. Sorry, that is the best I can say today. :)
Detached Homes Sales Calgary - Apr 1St 2022
Detached Home Sales in Calgary continue to lead the stampede of home buyers even though the daily average for the month dropped to 73.5 units per day. Sales still outpace supply. Detached homes are the gold in the local real estate market. Owning the land the house is built on seems to be what most savvy buyers want. No condo fees or neighbours on the other side of the walls. Back-yard BBQs are superior and safer than balcony BBQs. Hot Tubs have become as hot as the housing market during covid. You need a yard for a Hot Tub. Call Marc Grenier at Paradise Bay for yours.
Attached Homes Sales Calgary - Apr 1St 2022
Attached homes are selling at a pace that is surprising but not surprising. As the second choice category for most home buyers attached homes have always lagged the detached home market. Not last month. Sales outpaced supply for the first time in this agent's memory. More attached homes sold last month than the supply we ended the month with. That has never happened before in Calgary. The 100 Year Townhouse Flood is on in Calgary Real Estate Market. The second choice category has become the first choice category for many new eager homeowners and real estate investors. Condo fees are typically low because no utilities are included. There are a lot of great townhomes in Calgary with some real ugly ones hiding amongst them. Be careful out there. Work with the protection of a savvy Real Estate Agent like Jerry Charlton.
Condo Homes Sales Calgary - Apr 1St 2022
Calgary Condos are reaping the overflow of buyers from the detached and attached markets. Don't be fooled into thinking that all of a sudden everybody wants a condo. That's just not the case. Condos are selling because that's all that is left for most people. The condo market looks good right now. It is a great time to unload the one you have been sitting on for years waiting for the market to turn. If you are buying a condo and have never bought a condo before then you need to learn about a lot of things. What is a reserve fund? What is a reserve fund study? What are post-tension cables? What is the difference between titled and non-titled parking stalls? What is a condo board? Who decides how much the condo fees are? Who decides how to spend the condo fees? There is a lot to learn as you do your buyer due diligence when buying a condo. Do not buy a condo without the help of an experienced agent that is looking out for your best interests always. Like Jerry Charlton of course!
Detached Home Sales Feb 2022
Detached homes are selling at a rate never before seen in the City of Calgary as buyers from Calgary and across Canada stampede to snap up the new listings. The detached market daily sales almost equalled the daily sales number for the entire market in April of 2021. The market is running wild.
Attached Home Sales Feb 2022
Townhome sales have become hot only because eager detached home buyers are leaving nothing left to buy. Most buyers would prefer to own the dirt underneath the home but are now settling for townhomes with monthly ownership fees. Fear of Missing Out buyers could have buyers regret when the market returns to normal. Be careful out there!
Condo Home Sales Feb 2022
Condos, Condos, Condos.... The most neglected part of the Calgary Housing Market has become hot. Sales of Calgary Condos are on a pace that we see in other markets, not Calgary. The overflow of buyers getting shut out of the detached market and the attached market are buying condos like crazy. Beware condo buyers. Do your due diligence. Hire Norm at Condo Check to review the condo docs for you. Still some great condo deals waiting for the right buyers.
Calgary Home Buyers Getting More Choices Heading Into The Spring Real Estate Market as Sellers Rush Towards the Exit Doors!
106 homes are being sold daily so far in February. That is close to the daily high of April last year. Detached homes account for over 1/2 the daily sales number so far. Attached homes are seeing demand not seen in years with an average of 28 sales per day. That is higher than any month last year. Condo sales are also benefiting from the detached seller's market as daily sales are hitting new highs as well.
Inventory should continue to jump as eager sellers head for the exit doors. Picky and Patient Calgary Home Buyers will be rewarded with more selection soon. Calgary Realtors should also get a bit better at pricing homes which will tighten the spreads between asking and selling prices.
In the charts below you see the % of Listings Sold on a month-to-month basis. A Balanced Calgary Real Estate Market happens around 33%. At 33% we theoretically have three months supply of housing inventory. This means if no new listings came on the market, after three months there would be no houses to buy. Above 33% sales leans towards a Sellers Market because available homes are selling at a faster rate than three months supply. And of course, less than three months or 33% is a home buyers market. Labelling a Real Estate Market can be applied at all levels and within all home types to drill down for more relevant data. These charts start with the Combined Home Types in Calgary, then get divided amongst the major home styles of Detached Homes, Attached Homes & Condos. We can drill down farther to the City of Calgary 4 Quadrants of NW, NE, SW, and SE. Or the 8 MLS® Districts of Calgary. Or down to your community and home type. And then whatever time periods you are interested in. Last 3 years or the last 23 years, we can give you the stats you want to better understand the micro and macro real estate markets in Calgary. Call me anytime Jerry Charlton 403 831 0842 and I will get you the stats that matter most to you.
Calgary Real Estate Market - Home Sales Charts - Year-Ending Dec 31, 2021
The first chart is the total home sales for Calgary in all three main categories of home types. The three types in the Calgary MLS Database system are Detached Single Family Homes, Attached Homes and condos. The Calgary Real Estate Market is considered a sellers or a buyers market when we are above or below three months of supply. Look at any chart to see how many properties were sold last month. If we have three times that number in current listings we are in a balanced housing market in Calgary. Less than 3 months favours Sellers over Home Buyers. More than three months and Buyers Rule the day. The supply and demand of homes in the three distinct home types in Calgary are the net effect of everything else happening in the world. Mortgage Interest Rates, Employment, new homes being built, politics, etc. all eventually show up in the actual supply and demand numbers. These are the only charts you ever need to see to get an overall glimpse of today's Calgary Real Estate Market.
Single Family Detached Homes continue to favour Home Sellers
My prediction is this will continue for some time. It's very hard to flood the market with detached single-family homes even in a lousy economy.
Attached Homes Sales have picked up as many Detached house buyers are forced to look elsewhere
Attached homes are second on the list for most home buyers and sales usually reflect that. In the current market attached homes are enjoying the short supply in detached homes
Condos get the least amount of love in the Calgary Real Estate Market
Condos are at the bottom of most people's wish list for a Calgary home and the supply and demand numbers back that up. Condos have got a bit of a bump as the tide of the overall market rises. But still lag badly as a home choice for Calgarians and Real Estate Investors. I wonder if all these buildings that converted to condos years ago might start to revert to rental buildings. If you are buying a condo, don't forget you will own your portion of the entire structure along with its liabilities. Buyer Beware applies to everything and more so to condos in my opinion.