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Paul and Terry's Quick Market Update - MAY, 2015
Blog by Paterson & Associates | July 21st, 2015
As part of on an ongoing commitment, we hope to keep you as well informed as possible on the Calgary Real Estate market. These semi-frequent communications will hopefully offer better insight into the potential equity in your home and will allow those looking to buy a new home or even an investment property some reasonable expectations when entering the market.
MAY, at a glance:
- Calgary Real Estate market showing strong signs of Balanced Conditions
- Key stats in determining Market Balance*
- Housing inventory strong, but continues to drop in Calgary.
- In May, the months of supply decreased to 2.43 (Balanced)
- 12% higher than last year, but well below 5 and 10 year averages for May.
- New Sales to New Listings
- 69% - well within the parameters of a Balanced market
- New listings have dropped 8%
- Unadjusted Benchmark housing price average increase to $454,100 in May
- a monthly and year-over-year increase of 0.55 and 0.96 per cent
- Pricing in the Apartment section is the only area where pricing has contracted from last year's numbers.
- New Homes
- “While the resale market has recorded an easing of upward inventory pressures, the new home sector has started to record some gains in inventory. Current new home inventories remain relatively low. However, the overall impact on Calgary’s housing prices will ultimately depend on the duration of the economic slowdown and the amount of inventory buildup in the new home sector.” - CREB® chief economist Ann-Marie Lurie
- Interest Rates stay strong
- The Mortgage Broker's we work with continue to see incredibly low percentages on strong mortgage products. If you've never used a Mortgage Broker before they'd be happy to meet and go over the significant benefits.
*Please note that this data is high-level information. When looking to buy or sell you should be also be looking at segmented statistics...property style, neighbourhood, comparable adjusted pricing...only to name a few.
CREB® Stats report May 2015
|I'M HERE TO HELP...
As you probably already know….
We build our business mainly on referrals. That's why we work hard to be a "referral worthy" Realtor® -- the kind you can trust to recommend to your friends, neighbours, work colleagues and family members.
But what you may not know is all the ways we help people who are moving, or even just thinking about moving. For example, we can help:
- Answer any questions or concerns they have about moving.
- Walk them through the home buying or selling process.
- Help them determine what kind of mortgage they will qualify for.
- Provide them with useful tips on preparing their current home for sale, so that it is as attractive as possible to buyers.
- Fill them in on homes currently available on the market that closely fits their needs, wants and budget.
- Show them how to make the entire process smooth and stress-free.
And much more.
So if you know someone who would benefit from my help, even if they're not sure they're going to make a move, please give them our name.
We promise to treat them right! - Paul & Terry