All Calgary Home Sales YTD
Average Daily Sales of Homes in Calgary for April 2022 are slightly higher than April 2021. Does this mean the Calgary Housing Market is starting to slow down? The numbers would suggest that is the case. We have had a rise in the Bank of Canada Prime lending rate in the past month, and the increase in the prime rate means mortgage rates also get bumped up. We also saw a significant rise in unsold active listings at the end of the month. Before you read too much into these numbers, remember the best properties are always in demand. Location, Location, Location is not just a cliche; it's a fact. Compromise on everything else but be location picky!
Calgary Homes Sales Chart May 1 2022
Detached Home Sales YTD
We have 2,460 Detached Homes for sale at the end of April. Average daily sales in the Detached category dropped to the lows of May and June 2021. As I've said before, Detached Homes are Gold. Money in the bank. In demand no matter what's going on in Calgary or the rest of the world. Detached Homes have no condo fees, no condo boards, no flooding of the market by home builders, and better opportunities to increase values with regular upgrades. Be picky with the location. Buying the ugliest house in the best neighbourhood is another cliche you hear. You hear it because it's true. Be picky, my friends!
Calgary Detached Homes Sales Chart May 1 2022
Attached Home Sales YTD
Healthy is not a word we've heard in reference to the Attached Homes Sales Market of Calgary. But from the looks of sales for April 2022, you can say it looks like a very healthy market. With rising prices and multiple offers hammering the detached segment, attached homes have become very attractive for many buyers. I'm guessing a lot of renters were forced to move because the landlords sold the detached rental house they were living in is also helping sales. There are some beautiful well maintained attached home options for savvy buyers. Working with a knowledgeable Realtor also helps avoid buying falling rocks. Be picky; let the market come to you.
Calgary Attached Homes Sales Chart May 1 2022
Condo Home Sales YTD
Even though it appears Condo Sales are dropping like a slow-moving train, this part of the Calgary Housing Market is doing well. The activity level is giving a lot of Realtors an education on condo management companies and condo boards. When you buy or sell a condo in Calgary, they come with more than the eye can see. Subject To Review and Approval of Condo Documents is a typical buyer due diligence clause in an offer to purchase. Reviewing the condo documents answers many questions and provides many clues about potential special assessments and what direction condo fees are headed. Special Assessments are Cash Calls made on the owners to pay for significant repairs not accounted for in the reserve fund. The Reserve Fund Study and Budget is an essential document package you need to examine closely as well. Buyer Remorse is a real thing and not just another cliche. Working with an experienced Realtor will help you keep it a cliche as far as you are concerned.
Calgary Condo Homes Sales Chart May 1 2022
My Thoughts Today
The war in Ukraine is top of mind for lots of people, and rightfully so. What's happening in that country by another country in 2022 is criminal. We like to think we've come a long way since the barbaric days of our collective history. Russia today is making it painfully clear to the world that humanity is just as ruthless as ever. It reminds me of the Scorpion and the Frog crossing the river tale. The scorpion stings the frog, and they both drown; when the frog asks why the scorpion says it's in his nature. What we see from Russia is in their nature.
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! 

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